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Well, real or not, it's real enough at my position in the circus :D Gotta tighten belt in anticipation of gigs mysteriously evaporating from the pipeline
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twitter.com/hmeisler/statu I haven’t been alive long enough to opine, but it feels like way too many folks are expecting a severe capitulation event and I’m just not seeing it. ~3M folks still not participating in the workforce compared to ‘19, I think jobs are relatively safe
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Like Waldo everyone is still looking for the elusive Capitulation. I can never recall so many being so well-versed in what Capitulation looks like/is. finance.yahoo.com/news/bear-mark
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Broadly agree though at least some of the money on the sidelines is not really there. The LP's are over exposed and being v slow to both say yes to capital calls and sometimes reneging. Plus hedges are getting margin called pretty vigorously
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