Market turmoil a drawn out affair
Apr. 8 - Pacific Alternative Asset Management says the current market turmoil will last much longer than previous Wall Street "panics".
Pacific Alternative Asset Management, PAAMCO, says the current turmoil in the financial markets may last 2 to 3 years. Jane Buchan, PAAMCO's CEO, says this "is going to be a much longer drawn-out affair than normal Wall Street panics where, we panic, throw our hands up in the air, and then 6 months later we are back to business as usual." Buchan, speaking at the 2008 Reuters Hedge Fund and Private Equity Summit in New York on Tuesday, says "it really has been a wholesale revolution" on Wall Street.
Speaker:
Jane Buchan
CEO, Pacific Alternative Asset Management
Presenter:
Fred Katayama
New York
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