Who Said That ?

“The term ‘too big to fail’ must be excised from our vocabulary.”   

It was none other than Jamie Dimon who said that in 2008.

If you look at the macro-technicals today they look somewhat similar to March 2008.  I think Jamie felt pretty good about things then, just like today when he flashed the OK sign and said investors buying T-Bonds should have their heads examined.  He was one of the more infamous names trotted out by CNBC yesterday to make investors feel good.

Where are things Now?  To me we are in the first inning of a play-off series, the World Series is a long way away.  We will see a lot of home runs and spectacular outs before we know the winner.  I would not be surprised to see a 8 to 10 percent rally in stocks over the next two months before the next part of the series kicks in.