Over the weekend, we presented an excerpt from the latest weekly note by One River Management’s Eric Peters, in which he shared an look into hedge fund psychology, explaining why despite the market being at all time highs, nobody has any faith in said “market any more:
“My company is in structural decline,” he said gazing across Gotham, high in the corner office. “Made it through denial, anger, bargaining, and given that we’re having this conversation, I suppose I’m mostly through depression.” Which leaves the final stage of grief and loss; acceptance.