junqi的博客
just personal musing
正文
The herd returned back to work in wall street after a long holiday, and so did the bad news. We should have known. We hoped last week that there could be no news from financial institutions because of the holiday, we should have therefore infered that the bad news is forthcoming when people return.
The world was fine until some smart people wanted to out-smart other people. This is particularly true with financial world. Almost any ingeniunity ended with a disaster. SIVs, CDOs looks so smart a few years ago, now, they turned Billions into trash. Actually, the smart people in Wall Street turned so many people off, No wonder some investors call themselves fool (motley fool). but not smart.
When deal with personal account, the same thing can be said. If you think you can out-smart the market, that is when the danger looming behind. No body can predicate a bottom or a top. because so far, NOBODY(famous or infomous) has achieved that feat consistantly. what make us think we can be any different. So, as someone said in DQ not long ago,right now, cash is the king
Market looks bad, it does not how you looked at it (it has been that way for quite some time). The only consolence is that there are geniue fear today, that so many people took the flight to safety that 10 years bond was yielding only 3.85.. if you looked Tlt, you will there are a big jump in the long term bond as well. So, that might be a good news out of a bleak day. hopefully, the scare in the wall street will throw out all the babies with bath water, then, bargains can be found.
The world was fine until some smart people wanted to out-smart other people. This is particularly true with financial world. Almost any ingeniunity ended with a disaster. SIVs, CDOs looks so smart a few years ago, now, they turned Billions into trash. Actually, the smart people in Wall Street turned so many people off, No wonder some investors call themselves fool (motley fool). but not smart.
When deal with personal account, the same thing can be said. If you think you can out-smart the market, that is when the danger looming behind. No body can predicate a bottom or a top. because so far, NOBODY(famous or infomous) has achieved that feat consistantly. what make us think we can be any different. So, as someone said in DQ not long ago,right now, cash is the king
Market looks bad, it does not how you looked at it (it has been that way for quite some time). The only consolence is that there are geniue fear today, that so many people took the flight to safety that 10 years bond was yielding only 3.85.. if you looked Tlt, you will there are a big jump in the long term bond as well. So, that might be a good news out of a bleak day. hopefully, the scare in the wall street will throw out all the babies with bath water, then, bargains can be found.
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