Gavekal On Jim Cramer And The Immaculate Correction

Since the beginning of the year equity bulls have had to concede that a tactical correction might be necessary after 2013’s incredible bull run, and after a difficult month some are arguing that the market is already working out valuation problems without a precipitous drop. “Earlier this month, [Jim Cramer] assured his viewers that there was no reason to be concerned about a bursting bubble in tech and other go-go/mo-mo issues… because IT HAS ALREADY POPPED!” writes Gavekal/ Evergreen Capital Management chief investment officer David Hay. Hay is clearly teasing Jim Cramer in his article, but he’s also genuinely frustrated…