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Strategies & Market Trends : Heinz Blasnik- Views You Can Use -- Ignore unavailable to you. Want to Upgrade?

To: Perspective who wrote (2330)	6/10/2003 2:33:12 PM
From: GraceZ	Read Replies (2) \| Respond to of 4905

Intellect and reason are wonderful things and provide hours of entertainment but they aren't all that useful when you need to make some money. -g- One could reason that rates had to rise but my job is to make money for other people so I had a fiduciary duty to cover the possibility that what I reasoned was in fact wrong. Rates continued to fall for reasons that will never be completely clear (although you think you know the answer) for some time. I don't think the bond rally had anything to do with the greater fool, although I have to admit to thinking along the same lines as you did at several points. Rates may continue to fall even further. Over and over I'm confronted with the idea that events never play themselves out exactly the way you can reason they will because no one person has control over all the facts. The world and the markets have become far more complex than any one person can grasp. Now its more like a case of "What you finally learned is finally wrong."