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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Stoctrash who wrote (9633)	7/11/2008 2:31:59 PM
From: John Pitera	Read Replies (1) \| Respond to of 33421

LOL, I've been pounding the table about the dangerous of Counterparty Risk in the Credit Default Swaps Markets for the past 2 and half to 3 years. Bjorn Lindgren, the owner of BFL Associates, my brother Pete and a couple of other people at that retained executive search firm spend about half the week vomiting in the toilets of their office in the AIM Tower. The reason for their nausea is that I pushed like crazy 24 and 18 months ago to make our firm one of the axes in the industry in terms of placing the high level forensic accountants and valuation professionals since we did global retained searches for the big 4 accounting, as the Moody's; S&P, Holihan Lokey, Navigant Huron's, economic consulting firms like Charles River associates etc. None of them could really get the vision picture. They literally pissed away millions of dollars of fees in placements in a real credit market debacle that is still a long long way from over. 2 years ago I was telling them I was endeavoring to round up all of the top valuation and audit and assurance guys on Credit Default Swaps and these so called executive search experts looked at me like fawning young deer with their eyes profoundly blinded by the headlights ( and the overwhelming reality) of the size and scope of the coming credit market meltdown. My intellectually challenged former boss, told me that I was the smartest one their, I'm sure he was playing one of his numerous minds games, and by now he has gone on to let his limitless ego run riot in vast and untold new pastures. And to think my brother Pete was the Valuation expert at BFL Associates. JOhn