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as an independent trader through the crisis (and now), i can relate to the debilitating stress of watching the financial system unwind. the enormity of the tra
by lintiness 11y ago
as an independent trader through the crisis (and now), i can relate to the debilitating stress of watching the financial system unwind. the enormity of the trades these fools made and make still astounds me, and it's all a product of lazy / greedy regulators. that kind of leverage can't result in anything long-run outside of short term over-compensation and incentive to over bet, leaving the country and the world to pick up the pieces.
all of this started when investment banks were allowed to raise public money. if they were still private partnerships, you wouldn't see near the reckless risk taking we did and do.
- PhantomGremlin 11y agoif they were still private partnerships, you wouldn't see near the reckless risk taking we did and do Taleb makes that point, and many others in the same vein. What do you think of Taleb's books?
- lintiness 11y agofooled by randomness is his finest. black swan's a rehash for money.
- D-Coder 11y ago"it's all a product of lazy / greedy regulators." Uh, I think it starts with greedy traders. If they weren't so greedy, the regulaters wouldn't matter.