Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: William H Huebl who wrote (81453)	10/7/2008 8:31:47 AM
From: Real Man	Read Replies (1) of 94695

They sure don't want the second one. Neither do we... That stuff is always low probability, chort that VIX. I did. Be careful on Friday, when Lehman's crap will be auctioned off. -g- The truth about derivatives - they are complex insurance contracts. Nobody understands what happens. Not Warren Buffett, not me, not Hank, not Ben, not even the banks who wrote them. Now nobody knows how to value blown up crap. Well, some do understand that stuff better than others, but things we are dealing with now never happened before -g- It is necessary to have interest rate swaps, otherwise you can't get a fixed mortgage. Can we get that derivative bubble down without blowing it up? It sure would be nice to do so!

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