that news came through friend's blackbberry when four of us were at lunch, three moolah mangers and little old me.
#1 guy reaction: OK, I am going 100% cash tonight, will not play until I figure everything out, because whatI thought may happen isn't
#2 guy reaction: cash is already my position, and every other position I have is a paired trade and so hedged; now the question is what flavor of cash. (this guy had given up his US citizenship in 1992 for Irish passport)
#3 guy reaction: I am going down to 25% long, will remain there until whatever. (this guy will look into de-camping from USA permanently)
Collectively they represented about 4 billion in nav under management
My reaction: my guess is shares will go up, but USD will not go down, and the ABCP ought to roll over tonight upon expiration, now that Bush, in his 'I can do anything anyway I like" stance has announced his insane intentions to save the fat cats while claiming to help the little guys.
P.s. we were supposed to buy panda gold coins, but the distributor is closed for the day due to coin exhibit, and the Bank of China HQ and branches had altogether 4 (2007 vintage) coins for sale,and we are still in August of 2007. The stockout is happening earlier and earlier each year.
P.p.s. Raging inflation, straight ahead, to be followed monetary demise. |
