Thx, T533. Once again, we are being treated to Fed Fractional Math... and folks still wonder why I like what I can bite better than what I can BET. Plus a healthy dose of spin doctoring: let's say « of 3.5 Bil applied to gapping 50 Bil. derivative wound. How many cents on the consortium deposited dollar is that folks...and a TRILLION exposure in just LTCM's portfolio?
Speakin' o'betting, notice how many times "bet" is bandied about in this and forthcoming articles/references to LTCM.
Now, to this ole country-fied prospector,
Bets mean risk.
And Here are the skillets calling the kettle black,
i.e, one of the innies (WA. POST FRONT PAGE) calling hedge fund deriv strategies, bets.
Bets, placed by none other than one the two brainiest derivatives geniae, i.e., Scholes himself, of the famous Black Scholes options models.
What chance do you think Hutchie Pooh has against that kind of "role model?"
Innies call'em "bets",
Hutchie Pooh calls'em delta neutral, high gammabamajama" SAFE
prudent investment strategies. P.T. Barnum was right...
Oh, and another thing...
WHY did Soros' turn down a measly «Bil loan?
Didn't have it?
Didn't want to risk it?
Already has his deal cooking w/Feds?
Watch and learn while we can, grasshoppers,
this story will get buried on page 27 much too soon.
Looks like brains and greed go together allright...
like gasoline and lit matches. |
