Just to be clear, I never said it was a positive…clearly it is not. My belief is that its not a big negative, at least in the areas I follow closest. Will it take some out of the market? Sure. Does that make it a negatve? absolutely. Just not a huge negative in my mind.
I dont know where everyone else hangs out but I constantly meet people with tons of money everywhere I go. Last night I was sitting at the 3rd Corner in Encinitas having dinner and glass of wine. An unassuming guy sits down next to me and we srt talking. Next thing you know he’s telling his wife is one of 3 partners in a hedge fund up in OC and they paid $25M cash yesterday in a purchase of distressed assets from the FDIC. When we left he got in his Bentley. It may not be this way everywhere but in NCC there are alot of people with a lot of money running around.
