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September 8, 2011

Wall Street Journal: Darell Krasnoff Quoted in “Investor Anxiety Cuts 119 Off Dow”

“Investor Anxiety Cuts 119 Off Dow,” by Brendan Conway, Wall Street Journal.

“The biggest impact on the market is politicians and what they’re going to do to help, and that makes me very uncomfortable,” said Darell Krasnoff, managing director at Los Angeles-based Bel Air Investment Advisors, which manages about $6 billion in assets. Mr. Krasnoff said the Fed still has power to boost asset prices by juicing the economy with more liquidity. But he worries options such as buying longer-dated securities would have only a limited impact on the economy.

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