Bennet Sedacca: Free Fallin’???
Over the past year or so, I have used imagery such as hurricanes, tsunamis, and avalanches to tie in my thoughts about the economy and the markets. The imagery helps me sort out just how strongly I feel about a particular subject, and if the thought of a Category 5 hurricane hitting your shores, a 50 foot tall tsunami or an avalanche coming your way gets your attention, the thought of a free fall most certainly should.
I can tell you that as the economy and financial markets/system fall off a cliff in a vicious cycle, it makes me feel as if I would rather deal with the Category 5 storm. I have long feared that in the case of the hurricane, the eye of the storm would pass only to usher in the strongest part of the storm. The question of whether a Financial Tsunami would hit has now been answered, and it is reaching not only our shores but the shores of most of the world. The avalanche most certainly is in motion, heading straight for us, potentially forcing both markets and the global economy off the cliff. As usual, sobering stuff to be sure, but the next move for markets and the economy could be frighteningly swift and have us feeling as though we are about to fall off a cliff.
I recall back from my childhood the look on Wile E. Coyote’s face while The Roadrunner looked on just as he was about to crash from the cliff. There was a look of fear on Wile E’s face as he knew there was no way he wasn’t going to fall – he flaps his feet and waves his arms in attempt to stay airborne – but to no avail. The Roadrunner watches in amusement as Wile E. Coyote literally falls off the cliff on his way to a date with destiny at the bottom of the canyon. While the image below gives me a laugh as I recall watching Roadrunner cartoons as a kid, as an adult dealing with an economy and financial system that seem to be falling off the cliff, it is no laughing matter.
Click here for Bennet’s full report.
* President of Atlantic Advisors Asset Management, Bennet Sedacca brings with him more than 26 years of securities industry experience. From 1981 to 1997 he worked for several major investment banks, specializing in high-grade fixed-income securities marketing, trading and portfolio management. In 1997 he formed Sedacca Capital Management focusing on portfolio management for high-net worth individuals and small to mid-sized institutions.
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