Bear has been Bankrupt for a Year and has had to play with the stats and get bailouts to keep from showing it.
For a Hedge fund group that runs about 3/4 of a trillion dollars, that is quite a big indicator of the direction the Economy is headed.
Just heard today that the futures "priced in" Fed Rate says that Bernanke may drop 1.25, which would bring the rate from 3% to 1.75%.
And we still have the rest of the year to look forward to more SubPrime and ARM resets, most of which are still moving up because they aren't based on the Fed Rate. Foreclosures are steadily increasing, and putting more pressure on more banks and anyone still stuck with these worthless MBSs.
Paul said the same thing a
few days ago when they interviewed him on about the 400 point rally. (BTW, it's pretty grim when a $200 Billion infusion only gets you a ONE day rally)
Jim Roger's was my
favorite interview. If you haven't taken his and Paul's investment advice, then you probably shouldn't be investing in the market right now.