Dec
23
Briefly Speaking, from Victor Niederhoffer
December 23, 2009 |
A shocking increase in fixed income yields tests the facade of rectitude that the scholarly chair has placed over his historic study of the causes of the depression of 1930 without regard to incentives. One believes that his colleagues in the aisles and the circular teetotum will rectify such increases as a 6 month high in long bond yields to 4.7% with a veneer of austerity and chastening.
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Those bond vigilantes er on the move. I imagine dems of austerity will form a posse to round em up. Dem vigilantes is a clever bunch though, and I would'n wan to a tangle with em.
i can barely predict the next interval or two from face down here in the gutter. best wishes to you and family for 2010. z
An illusion that one is in control when one is not is one of the most dangerous illusions of all. Beware of helicopter pilots who are unaware of how uncontrollable their craft can become after the propeller is damaged.