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Home > About Us > In the News > Oct 20, 2008

In the News:
High Yield Report
In a comment to High Yield Report, Portfolio Manager Axel Merk cautions that bank recapitalizations must include a buffer to allow for further asset write-downs.
 
"And market observers warn that unless banks lead the way in valuing assets, the government bailout plan could end up being an otiose exercise. ' Our call is that banks must do even better,' said Axel Merk, manager of the Merk Hard Currency Fund. 'If no leadership takes place on this front, the new Congress may spend trillions and create massive inflation in its effort to grow out of the problem. The market must be allowed to adjust; financial institutions must be strong enough to stomach the adjustment.' "