I mentioned the other day that I was surprised that the Europeans were surprised that the Greeks had gone to the wall. This timeline explains why I was surprised. As you can see this is a long standing problem.
Source – HANDBOOK OF FINANCE: VOLUME 2: INVESTMENT MANAGEMENT AND FINANCIAL MANAGEMENT, Frank J. Fabozzi, ed., John Wiley & Sons, pp. 85-111, 2008
Like many investors, Mr. Bolz’s firm had a bet against the franc in its portfolios, which lost money on the currency’s sudden surge. It hasn’t made any meaningful bets on moves in the currency in the last few months, he said. An uneasy calm has emerged as investors show more caution. Volatility has all but…
This was attributed to Frederick R Barnard in Pinters Ink (1921). So here are 1300 give or take words on gold and one picture.
These are some random thoughts I have been putting together following the events of last week. 1. Markets move from manic to panic within a few sessions. Those who still cling to the outdated notion that humans are rational assume that when markets transition they do so in an orderly fashion. The thinking is that…
A question was raised in the comments section about the level of gold reserves held by Greece – a bit of google-fu shows something very interesting. The Greeks are better off than we are and we produce most of the damned stuff. Source – Wikipedia
Apologies to those who got the theme to this appalling film stuck in their heads. This is from Highlander, Queens second attempt at scoring a film.
You could probably call this the here hold my beer and watch this hypothesis.. Researchers simulated the trading floor in the lab by having volunteers buy and sell assets among themselves. They measured the volunteers’ natural hormone levels in one experiment and artificially raised them in another. When given doses of either hormone, the volunteers…
Flash a-ahSavior of the UniverseFlash a-ahHe’ll save every one of us(Seemingly there is no reason for these extraordinary intergalactical upsets)(Ha Ha Ha Ha Ha Ha Ha)(What’s happening Flash?)(Only Doctor Hans Zarkhov, formerly at NASA, has provided any explanation)Flash a-ahHe’s a miracle(This morning’s unprecedented solar eclipse is no cause for alarm)Flash a-ahKing of the impossibleHe’s for…
As I watch my position in lean hogs gyrate in the wind I was reminded of these episode of the King of Queens. If you are not having a long breakfast skip to 15:20 for the most relevant piece and avoid the last few minutes since it is the usual childish American ending.
