A Chart Says More Than a Thousand Words…


…we are clearly in uncharted territory when it comes to credit standards. I posted about the worrying credit market developments here.

Credit markets are a bit frothy,ok. But stocks? Some investors undoubtedly think, that the stock market is only moderately affected by these developments. However, stock prices are linked with the credit markets via buyback activity. Unless you are very confident of your market timing abilities….




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