Thursday, February 19, 2009
More Thoughts On The Rough Day Today
I look at a day like today and I know that the truth is that many stocks are just going away. There is no private equity value for anything and the market caps are coming down so rapidly. $3 trillion in market cap lost year over year in the top 100 companies alone. You have to have a market cap of $20 billion to be in the top 100 names last year at this time. Now it is $10 billion. All of that stock bought back , all of that debt taken down, and NOTHING to show for it. Nothing.