EVENING READING
2 March 2010 by Cullen Roche
5 Comments
- Financial reform is dead - Krugman
- Theater of the absurd - Alhambra
- Bond yields, earnings yields and inflation - Hussman Funds
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Comments
Is this Beal guy who developed a poker model but lost 10s of millions to Las Vegas Pros?
Beal’s one sharp guy. See here for more: http://www.forbes.com/2009/04/03/banking-andy-beal-business-wall-street-beal.html
TPC, the difference is that the prior credit bubble was eventually brought to an end by math and unsustainable debt.
This bubble is from the Fed. Which can keep interest rates very low and still support a lot of asset buying activity. In other words, the dance ends when it becomes politically untenable.
And not a second before.
But I agree the market is getting pretty heavy here. And I’m long a bit of a gold miner now.
Hope you have been well.
Vanity Fair has two articles on finance in their current issue. i am wondering if that is a tell, like when joe kennedy’s shoe shine started to give him stock tips…
if you thought paulson was the first subprime short, then you should read about scion capital: http://www.vanityfair.com/business/features/2010/04/wall-street-excerpt-201004
i love lewis, but you should read the ‘greatest trade ever’ by zuckerman (sp?)