Wednesday, May 18, 2016

Old icons are getting their reputations killed.

I said long ago that a major sign of the peak of the debt Ponzi would be that major investing names would end up getting dragged through the mud.  Why?  Because without ever expanding debt, these people can't grow anything.  All they even did was use leverage.  For today's proof point of this look no further than the Yahoo story which called Icahn "Junk".  I think they could have been a bit more fair with the headline but instead they chose to be smart asses about it.  Expect more and more big investing names to stumble and face plant in the coming years, even Warren Buffett.

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