Whitney Tilson: Look beyond generalisations
Read the full article at: http://news.yahoo.com/s/ft/20071208/bs_ft/fto120820070130407399;_ylt=ApT93smknpZHEyX0b4NIOPEE1vAI
Submitted by kenkid on Sat, 2007-12-08 14:44.
(via news.yahoo.com)
I'm always surprised by the sweeping generalisations made by financial commentators during times of market distress. To say that in the current environment shares of companies in the financial sector are "oversold" or "already discounting a recession" or "poised to fall much further" is a simplistic view that doesn't reflect the diversity of businesses, companies and risks present among financial firms.