"I don't think this is an investors' market right now," he said. "I think there is a lot of money on the sidelines and once you get some kind of good catalyst -- anything to make the market look better -- they'll come rushing into the market."
Clark said Thursday's employment report could show that the economy is holding up better than some investors have predicted.
"I still think it's going to be negative but not as negative as people are expecting," he said. "Things aren't as bad as people think they are. We're talking ourselves into a market decline and a recession."
I learned this morning about "redemptions", which explains the June gloom...
6/11/2008 10:29pm
Financials: WSJ notes that hedge funds are preparing for large redemptions at the end of this month
- Hedge fund HBK Investments recently saw an increase in withdrawal requests.
- The article notes that Farallon Capital could face $1.4B+ in redemptions for the period through June.
- Hedge fund redemptions can have ripple effects on markets in the near term if funds are seeking to raise cash through asset sales.
