He's right. Many fine companies with bright prospects got dumped today simply out of fear which overrides reasoning. Eventually, the market will realize the folly we just witnessed and buy back the shares they so foolishly threw away today. MPEL is fundamentally strong and will rebound but just when is anybody's guess.
If you really think this is a one day folly, you need to take off the rose colored glasses. I'm not talking about MPEL. The US produced 0 jobs for the month of August! GDP is at a 1%. We're talking about the US of f#king A, thats pathetic. The European financial crisis, is bubbling. And Obama, is ready to give us a speech on another failed stimulus plan. I guess the only positive I can give, is that maybe, Americans will finally see the failure of Socialism. The reality is we may see some serious pain.