I caught the late showing of fast money... another 10 minutes. So... I'm a fan of them being traded OTC, But here is the plan....
they want to buy derivatives of them. Calls and puts..... God I hate wallstreet.... derivatives of derivatives of derivatives..... I want a derivative of the derivative market.... I want a 'put' on the destruction of humanity based on derivatives.
The first law of engineering is "KEEP IT SIMPLE".... Like I keep pointing out Wall street is the bottom fish intellectually, They know little about history, little about economics, Little about philosophy. Little about markets.
The derivatives market is a Kludge, at one point it has to collapse....
all I want out of that market is for buyers and legitimate sellers to come together. in a transparent way.... and I don't care much about MBS.... what I do care about is those fucking default swaps.... and other than that... I want to see swaps linked to a bond.....
This is all just Asshatery. All the douchbags on fast money working each other into a narcissistic Mind Fuck Group think... We are going to save the earth by building a new derivative otc market...
Kind of reminds me of the Douchbags who thought they were going to save the world with MBS.
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
Saturday, September 27, 2008
Fast money again
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