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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: el_gaviero who wrote (37496)8/1/2005 4:01:32 PM
From: J_Locke  Read Replies (1) | Respond to of 110194
 
Yes, absolutely. That's why efficient market theory is such a crock. Short term incentives cause market participants to ignore long term risks. Who cares if your hedge fund blows up if you made 50 Million last year?

Buyers of the junior mortgage derivatives are going to be destroyed eventually, but the hedge fund managers may get very rich in the meantime.


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