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Candid mid-year assessments from some of Wall Street’s big hitters

Posted by Vince Marcantonio in Daily News

By Michael J. Kosares

“The time had come, as in all periods of speculation, when men sought not to be persuaded by the reality of things but to find excuses for escaping into the new world of fantasy.” – John Kenneth Galbraith, The Great Crash of 1929 via Hussman’s Weekly Market Comment

“No one saw it coming.” That was the popular refrain following the 2007-2008 financial crisis – explanation and excuse all rolled into one short, neat sentence. This time around, though, it’s different. A chorus of naysayers, led by some of Wall Street’s most respected figures, has come front and center to warn investors of a troubled economy and tenuous financial markets. One analyst aptly described the situation facing investors as …