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Re: BTH post# 161725

Tuesday, 05/28/2013 10:32:19 PM

Tuesday, May 28, 2013 10:32:19 PM

Post# of 257259

What do you make of the premise that some macro-bears are making in that when a bond bubble breaks, that money doesn't rotate into different assets classes, instead, it just goes "poof!"

I don’t agree with the premise. Bondholders’ unrealized losses caused by higher interest rates are unrealized gains for the bond issuers.

“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”

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