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Comment (After another dreary week in the global markets, marked by thinning volumes and deepening gloom about everything from the state of various economies and the shaky health of the financial heavyweights to the future of commodities, it was no time to seek out one of those perennial bad news bears convinced the worst is yet to come.
So call me a masochist for checking in with Steven Romick, a veteran money manager of the value persuasion, who sees plenty of dark clouds from his perch in sunny Los Angeles.
Mr. Romick, a partner in First Pacific Advisors and manager of a $1.4-billion (U.S.) value fund, applies his personal twist to the Rumsfeldian formula setting out the known knowns, the known unknowns and the unknown unknowns in the financial universe. In his version, the still unfolding global credit crisis is akin to a prison escape by violent convicts, and we happen to be living, rather clueless, in nearby communities. Your neighbourhood may be safe, but is it wort...
