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Reduce Risk *LINK*

November 7, 2011
Reduce Risk

John P. Hussman, Ph.D.

A quick note on Greece - as of Friday, the yield on 1-year Greek debt has soared to 212%, up from 144% a week ago, just after the grand "solution" to the crisis was announced. Over the past week, the price of 1-year Greek debt has plunged by 20%, to 38.4 (bid 35.81, ask 40.97 to be exact). Which begs the question - if everyone has agreed that Greek debt will only be written down by 50%, why is the 1-year note trading at just 38% of face value, with longer maturities trading below 30% of face? This sort of incongruence isn't inspiring.

(Rest or article linked below. It is lengthy, but a worthwhile read!)

Hussman Funds - Reduce Risk

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