[...] This was a year where any trade you had on that other hedge funds had on, that was a popular hedge fund trade, performed poorly because there were other hedge funds that were forced to unwind that trade. [...]
[...] bubbles create other bubbles, they’re like derivative bubbles, so to the extent that there was a bubble in credit or a bubble in the mortgage market, that created a bubble for people who could trade those products. There was just a misallocation of resources not only into mortgages, let’s say…
[...] In October, it was like a patient having a heart attack: the short-term credit market ceased to function. That’s the heart of our economic system; it ceased to function. The government was like the doctor. The government runs into the heart attack patient’s house, steps over the heart attack …
[...] The SEC tends to be focused on stuff that’s a lot more technical. They’re very focused on technical violations of insider trading laws. And, you know, what are the consequences of insider trading? I don’t know. If people believe the market is rigged, then people aren’t going to trade in the m…
[...] The SEC tends to be focused on stuff that’s a lot more technical. They’re very focused on technical violations of insider trading laws. And, you know, what are the consequences of insider trading? I don’t know. If people believe the market is rigged, then people aren’t going to trade in the m…
