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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers -- Ignore unavailable to you. Want to Upgrade?

To: koan who wrote (61813)	10/22/2008 2:59:20 AM
From: marcos	Read Replies (1) \| Respond to of 78409

I did write it for you -g- ... too late to download youtubes on dialup, got an early morning coming up, will try them tomorrow ... but it is easy to believe that lots of smart guys out there got this wrong Wonder to what degree the US election has effect right now ... traditionally the first year of a new presidency is hard times and austerity, because they can blame all the crap on previous admin ... same with new management of companies, there can be a grace period for them but not for shareholders, when really ugly stuff comes out

To: koan who wrote (61813)	10/22/2008 8:40:58 AM
From: tyc:>	Respond to of 78409

>>>"This guy knows exactly the way it worked.... " Who does ? Are you saying that Taleb does ? I thought that his whole thesis was "I don't know (how it worked)and those that think they do are probably wrong because the world does not work according to mathematical theory nor models". I think he also would advocate, "don't bet against a Black Swan". If you project this theory to today's markets, the Black Swans would be the creation of new mines such as envisaged by NGD and TRX. Being long here is smarter than being short, buying smarter than selling, that's for sure.

To: koan who wrote (61813)	10/22/2008 11:00:57 AM
From: Valuepro	Read Replies (2) \| Respond to of 78409

I watched the first video, and fully disagree with who is to blame. He sites Bernake and Paulson. The fact is, our present financial crisis stems from the failure to learn the lesson of the Long Term Capital Management failure in 2000. There, a derivatives risk management model developed by Myron Scholes allowed the horrible multiplication of the hedge fund bets that are just now coming undone (again). FWIW, Alan Greenspan, when Fed chairman, warned against derivatives, but seemingly was powerless to do anything about them. He might have been Fed chief, but I believe he answered to higher authority, i.e., the banks who were his employer. BTW, Myron Scholes was awarded the Nobel Prize in Economics (1997?) for his work in derivatives. That prize is a construct of the banking industry and has nothing to do with the Norwegian legislature, who award the orginal versons of the Nobel Prizes, none of which are for economics. As an aside, I met Scholes a couple of times when he was at Stanford, and marvel at the thought now that I may have been in the presence of the man who gave birth to the ideas that eventually may have been the cause of our worst financial panic since the Great Depression.