Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.

J. P. Morgan

"Sell down to your sleeping point"

Monday, March 17, 2008

Don't cry for me Argentina

..... So... I almost felt bad for the employees of Bear today...... Then I felt like an ass when I was reminded that they tried to shove all their bad ABS into the hedgfunds....... Basicly taking their losses and dumping them on investors....

I'm almost glad when their shell game ends up with them with the empty shell.

BTW... I try not even to play my margin... In ways I'm a dumb ass for not borrowing much money... But then Sometimes it helps me sleep.

I firmly believe we will never see a 5% mortage for the next 5 years at least.

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