Wall Street enters "extremely trying period"

08/8/2007 | Los Angeles Times (tiered subscription model)

The sudden reversal of fortune on Wall Street is a clear-cut signal that the good times are over. Several Wall Street investment firms are on the defensive and the upbeat market conditions that prevailed just a few weeks ago are largely gone. "The next 12 to 18 months on Wall Street could be an extremely trying period," said Richard Bove, an analyst at Punk, Ziegel & Co.

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