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Markets around the world continue to
ebb & flow but with inordinately
large swings. Relief rallies are brief and transient.
The trend is downward. |
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| Perhaps some people who are
responsible for "running" money may
see the substance of their
responsibility. Some may learn why financial
instruments that pay higher-than-typical
rates carry more risk of default... and
that it actually is possible for
underlying entities to
default... and for money to
be lost. The term "risk premium"
is gaining meaning.
Perhaps it is gaining meaning
as a substantial force rather than simply a historic
term
describing some nowadays-fictitious
concept rushed over
within algorithms in B-school. |
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This is a repeat of the S&L
debacle made
exponentially worse by less experienced,
over-empowered MBAs,
computerized, arrogant cowboys wrangling
& selling financial acronyms packages carrying
imbedded pockets of drek. |
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