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October 09, 2008


Rick Ballard

Getting a little concerned, TM? Maybe liquidating the hedge fund wasn't the best idea? Considering that they're selling into a waterfall?

It's almost as if an Ivy League trained economist had reservations concerning the promulgation of solutions to non-existent problems. Oh well, that degree will be worth something, sometime, somewhere.

We're all "connected at the roots" dontchaknow.

Tom Maguire
Getting a little concerned, TM?

Well, we are about to close down 500 (after rebounding from the lows!), but I am long past scared.

I think that if they could have a mulligan on letting Lehman fail they would. That busted the money market fund and it has been downhill since then.

Rick Ballard

Busting Lehman exposed the shallowness of the information system. The scary part for tomorrow will be the auction that exposes the depth of ignorance exhibited by those who believe in models cooked up to conceal their lack of understanding regarding human nature.

It may come off well. In which case the reaction should be very positive within the market.

Nobody knows in the instant - because the fricken models are all 100% horseshit.

How very odd that so many people have placed so much trust upon such fools.

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