Quote:
Originally Posted by Dpeck100
You have been a sky is falling guy for the ten years I have been online.
I have been very bullish on cards and I am quite comfortable with my track record.
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Well ya, an 11 year bull run fuelled by QE and debt has made most bulls look good. Let’s see how all assets perform when cash dries up and people start losing their jobs.
Fwiw I think the underlying fundamentals are decent. And that when demand comes back, the recovery will be dramatic. I am in buy mode myself ( not cards, equities). But this summer is going to be brutal and recession is a guaranty. Don’t underestimate how much of consumer spending is debt financed - HELOCS, credit cards. People are soon to find out they are not as rich as they thought.