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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: KPHinds who wrote (110622)	1/19/2008 11:38:43 AM
From: Knighty Tin	Read Replies (3) \| Respond to of 132070

Kerry, It is actually the mathematically gifted who are causing all the problems. The banks are taking on risks that are way out on the bell curve. Unfortunately, as Nassim Taleb showed in his book, Fooled By Randomness, the outliers occur more often and with much more devastating result than the models allow. Which is good for those of us who buy options. I see real estate eventually being supported by those countries stuck with warehouses full of Bush Pesos. However, it will most be the offices and large buildings that are purchased, not individual homes. The rule of thumb is that it takes 18 months from foreclosure to the auction that dumps these properties, so it could be awhile before foreigners see a bargain bottom.