Larry Summers Was Right!

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Those of you who miss Keith Hahn's writing on DealBreaker will probably want to head on over to our little brother SuperMogul, our site for c-level executives and people who aspire to view the world from the corner office. Here's Keith on Larry Summers Nostradamus act at Davos:

Maybe women are naturally bad at math and science (you can hear the screams of “That’s not what I said!”), because at least one of former US Treasury Secretary Larry Summers’ ominous predictions came to fruition yesterday. Summers and Jean-Claude Trichet (European Central Bank President) told us to beware the ides of March late February at the World Economic Forum in Davos a month ago, warning that risk in the current market was “ludicrously underpriced.” Harkening back to the “upbeat” summer of 1914, Summers warned that a re-pricing of risk in the market (or maybe even a global liquidity crisis) was looming, citing stock market volatility, narrowing emerging market vs. government bond yield spreads, historically high leverage multiples on European LBOs and hedge fund leverage reaching 1998 levels.


Larry Summers: Call me Cassandra, especially on weekends
[SuperMogul]

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