[sgbuffett]

I have been warning of problems with the market for 6 months now. Hope you reduced your risks and got out.

The US market is high mainly because Fed ease and QE.

Now Fed to reverse the market gains will all disappear

But there is also earnings recession followed by economic recession.

We are half way through phase one of the bear selloff.

There is phase 2 and 3.

We may not play out exactly but we are still in early stage and too far from a bottom