Jason Cross and Paul Karos, Whitebox Advisors
Fear and fear. Psychologists say there is good stress and bad stress. This year US markets have been driven by good fear and bad fear.
Good fear took the form of business and financial discipline, as managers continued to exercise tight cost control and capital expenditure discipline. Even historically top-line obsessed industries like airlines tightened up. As for where the resultant cashflow has been flowing
The week on Risk.net, 14-20 April, 2018Receive this by email