Posted By:
Jeff LichtmanRichard, I didn't think Lehman had the most downside in America -- I'm hardly a stock analyst. But I felt that the investment banks were clearly being targeted by the shorts (Bear had just collapsed) and that the subprime mess had yet to really be felt in that sector. Panic and bad news in a sector make stocks go down. And I never dreamed that Bear could collapse; once it did I felt that Lehman was the logical choice to be next due to the perfect storm that was brewing. Hardly a major insight on my part, though.