“You can’t be short a market where the Fed is saying ‘we’ll do whatever it takes to hold up every asset class’,” said Barry Ritholtz, CEO of Fusion IQ and author of Bailout Nation in an interview with Yahoo! Finance – Tech Ticker.
Ritholtz wrote on his The Big Picture blog: “This market has had repeated opportunities to roll over, to fall on bad news, to follow other bourses lower, or to take a modest sell-off … and turn it into something more dangerous. In just about every case, Mr. Market has refused to cooperate with the bears.”
“We have a foot in cash and a foot in the long side,” he summarised his equity position.
Source: Yahoo! Finance – Tech Ticker, October 15, 2010.
