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Re: Trust A good book on this is Hernando de Soto's "The Mystery of Capital". Re: Saving individual banks rather than the banking system See the fiasco that
by johnm 18y ago
Re: Trust
A good book on this is Hernando de Soto's "The Mystery of Capital".
Re: Saving individual banks rather than the banking system
See the fiasco that was/is the Japanese handling of their bubble bursting.
Re: The complexity of the "toxic", complex securities
Um, er, if you can't explain your pitch in a sentence or two then you(r startup) suck(s). Oh wait. :-)
A serious failure here (which should actually be prosecuted for criminal negligence at the very least) is the fact that the various rating agencies allowed themselves to get conned into believing all of the utter bullshit spouted about these complex securities. It's their bloody job to do their own homework to rate them.
Though, of course, I should also throw in the fact that the ultimate buyers bought into blindly trusting the rating agencies instead of taking responsibility for calling BS on the ratings of things that couldn't be explained in a couple of sentences (or even a couple of pages).
Re: Central banks
Fail!
- Xichekolas 18y ago> Though, of course, I should also throw in the fact that the ultimate buyers bought into blindly trusting the rating agencies instead of taking responsibility for calling BS on the ratings of things that couldn't be explained in a couple of sentences (or even a couple of pages). QFT. It seems like all the great investor-heroes of this century (Buffet, Philip Fisher, Peter Lynch, Bill Gross, etc.) say roughly the same thing: Buy what you understand. If you don't understand it, don't take someone else's word for it, there will be other opportunities that you do understand.