Aug
5
Junta, from Victor Niederhoffer
August 5, 2010 |
The next meeting of the junta is, as always, the first Thursday of the month, August 5th. Tyler Cowen will speak on why we are having a jobless recovery. At the Mechanics Institute at 20 West 44th St between 5th and 6th Avenues. Meeting starts at 7 pm, speaker starts at 8 pm. All are welcome.
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wannabe from India , pays tribute to his one of the self appointed guru’s on markets , on this day of Guru Pūrṇimā, sanskrit: गुरु पूर्णिमा
o Mr. Victor Niederhoffer,
Hello there sir, my name is Kam. I am from England, UK. I am 24 years old and studying Law and Economics at University. I wanted to email and touch base with you to say thank you for inspiring me and motivating me to study hard and also to allow me to have the aspirations to become a trader, a successful trader at that.
Sir, I was wondering if possible, if I could ring you sometime to say hi. I would very much appreciate it and to learn from you would make my dream come true. I always wanted to email and touch base with you sir. I am a very passionate hard working person and I want to fulfil my potential sir. I truly feel and think that by learning with you and you sir being my mentor, I would be an offspring of your teachings sir.
I hope you are doing well sir. Thank you again so much for your kind co operation and time in taking to reading my email.
Thanks,
Kam
Good morning, Mr. Niederhoffer
My name is Alexey P[…]. I am from Ukraine. I am 29. I have a wife and my son of 1,5 years old. I traded on forex market and failed. I lossed 90000 US dollars.I borrowed this sum against security at bank and failed. If I urgently do not call in a credit I will lose all my property and throw myself and my family out on the street.I have to ask you about financing help. To give me the second chance to start all over again. I appologise for my request to you but my present situation is very bad and i have no chance to solve my problem myself. I supplicate for you to lend me 100,000 usd for 1 year. If you may help me I will be able pay my debts and to start all over again. I promise you to pay back to you in 1 year. Waiting for your kind reply and hope on your help. may god speed you.
Sincerely yours, Alexey P[…].
Tyler gave a beautiful appreciation of Milton Friedman at the beginning of his talk commenting on his practicality, his ability to change, his natural genious and his theoretical contributions. He then enumerated and analyzed 10 hypotheses as to why the recovery has been anemic and stated he believes the answer is a combination of same. I believe that the Roll hyothesis about the destruction of human capital and its close relation of the lack of incentives that an increase in the service rate creates is the main culprit. Tyler countered that there is little or no unemployment in the scandinavian countries. vic