Apr

20

I posted this some months back:

"Considering the nature of governments, markets and timing, I find it instructive to contrast the timing of the British government's sale of gold in 1998 (which came at, or at least very near, the lowest prices of a decade-plus time frame) against the timing of Blackstone's IPO, which came within several hundred points of the highest levels the DJIA had ever seen.

It seems to me that the perfectly logical, state hostility toward markets (begrudging their existence for purposes of fruitful taxation) would suggest that unique issuance events and decisions associated with them are likely to coincide with market bottoms, but that study has a very small 'n'."

I wonder if the government's sale of GM stock– moreover, and consistently, at a loss– is a logical, perhaps generational, buying opportunity. Alternately, one wonders if the multiple factors of unions under siege, radioactive Japanese suppliers, and the like are inspiring Barry & Co. to leave a bad situation badly before bad gets worse.


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