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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (1277)	10/21/2005 1:44:11 AM
From: Taikun	Read Replies (1) \| Respond to of 217822

Quote of the week? "It's not often that investment banks do something out of the goodness of their hearts," said Stephen Bainbridge, a professor of corporate law at the University of California at Los Angeles law school. Mr. Bainbridge nonetheless played down the possibility of conflicts hurting Refco or creditors. Such situations pop up often on the Street, where large banks are in the middle of a range of businesses, both as adviser and principal investor. "In the post-Watergate era, people treat a conflict of interest as something you're guilty of," Mr. Bainbridge said, "when in fact it is just a state of being. The fact that you have a conflict of interest, doesn't mean the people doing business with you are fools. They can make an intelligent decision." professorbainbridge.com

To: TobagoJack who wrote (1277)	10/21/2005 2:26:55 AM
From: Maurice Winn	Read Replies (1) \| Respond to of 217822

Uncle Al KBE has done exactly what was obviously going to happen back in early 1999. It has just taken a few years longer than I thought it would. Irrational exuberance was obvious, and was bound to come back to Earth, so that Happy Meals were earned on US$1000, no matter what the investment, with some adjustment for more or fewer known knowns, known unknowns and unknown unknowns, with some allowance for investors being in the reality-based community, not knowing what the reality-creating gang might do [such as launch another war]. With "eyeballs" being a unit of currency and "click-throughs" a unit of profit, things had obviously gone AWOL. While there's some financial relativity theory adjustment needed for fiat currencies, which are only a marginally better currency, an actual P:E nearer single digits than triple digits was some comfort so that the tax authorities could harass their serfs. Uncle Al KBE has handled it all with a deft hand. There is now only the small matter of borrowers coping with the last half dozen interest rate rises to get money-lender Happy Meal rewards back up to match other investment opportunities in the reality-based community. With big mortgages, some will come a gutser. Such as those working the production lines, rolling in dough over the last few years as SUV sales soared, and who used their expected future earnings to borrow to buy an SUV, and a big house to put it in. With SUV production lines slowing to a crawl like an LA rush hour freeway jam, their layoff will not be good for their financial position. Uncle Al has deftly managed interest rates steadily on up with, as yet, no sign of implosion. Y2K is long forgotten. The Twin Tower collapse is a blip on the Dow graph. The WOT/WAT is jaded. Afghanistan/Iraq are no more in the Omar/Osama/Saddam sense. Oil prices are wayyyy up. House prices too in accordance with financial relativity theory. Things are looking good. H5N1 notwithstanding, and I pick that will fizzle, like sars. With the small number of human victims, the reassortment/recombination opportunities to go critical are few and far between. People are murdering fowl en masse, so H5N1 is not making a lot of progress, even in the birds, though its range is now from the Pacific to the Atlantic, almost, and equator to the Arctic. Mqurice