Trimming the Hedges

It is my firm belief that major hedge funds will collapse, bringing about a Savings and Loan/long term capital management (LTCM)/Enron-style collapse in the financial markets. This is a raw-materials blog for making sense of the mess after it happens. Update: With the U.S. government debating on a $700 million bailout for the economy, this crisis has surpassed my wildest expectations, so my new prediction is that the U.S. will default on its loans for the first time in history. [09/24/2008]

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Wednesday, August 15, 2007

Chicken Little Cries Again

On why good assets get knocked down when markets go bad:
"There's no skill in buying mortgages...The skill was in the credit officer who could get the cheap line of credit," Frank Husic, CIO Husic Capital Management.

Managers sell good assets to raise cash. Tech may get hit by subprime fallout.

Other Articles:
Credit contagion
EDITORIAL - Global financial turbulence; local impact possible
Killer Derivatives, Zombie CDOs and Basel Too?!
Basis Fund Down 80%
'After the Greed, Fear Reigns'
Countrywide Falls, Merrill Cites Bankruptcy Prospect (WOW!)
Mitt Romney Hit by Mortgage Meltdown
Investment fund in Chicago hit by wave of withdrawals
Posted by YRG at 7:07 PM

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