Quote of the Day from the Head of Goldman's Quant Investments

06/24/08 03:15PM EDT
Actually, according to Bloomberg's Tom Cahill, Goldman's Robert Litterman, (head of GS quant investments) said this at the GAIM Conference in Monaco on June 19th. Thankfully, I was not chasing "hedgies" around at this conference, so I am happy to take this quote on time delay...

"We couldn't get out and if we had it would have made it worse. We had to ride it out.'' -Bloomberg Article, June 24 ("Goldman's Global Alpha Fund Gains After 2007 Plunge")

Anyone remember 1987? Buler?

Liquidity remains one of the many reasons why the US stock market can bounce for a "Trade", but remains in a downward bear market "Trend".
KM
© 2020 Hedgeye Risk Management, LLC. The information contained herein is the property of Hedgeye, which reserves all rights thereto. Redistribution of any part of this information is prohibited without the express written consent of Hedgeye. Hedgeye is not responsible for any errors in or omissions to this information, or for any consequences that may result from the use of this information.