Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: GROUND ZERO™ who wrote (55110)	9/20/2001 10:23:57 AM
From: Real Man	Read Replies (1) of 94695

We'll see. I still think the true cause of this bubble is the widespread use of interest rates and forex derivatives. All derivative-based models work fine and make money under just one key assumption - liquidity. When there is no liquidity, they fail, bringing down financial companies holding these instruments. Now that JPM holds most of these, I think the assumption of liquidity has to be questioned should any kind of panic materialize there. What if some of these cash-starving companies default on their debt? I think only commodity markets are safe to trade at this time!

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