Apr

20

 Amazing ability of D'Antoni to deflect criticism of him by complimenting his players: "I have never been prouder of a team". With a good coach, the Knicks would have won both games. What is the trading significance?

T.K Marks writes: 

Such deflective behavior by D'Antoni reminds one of those monthly letters to investors after a fund's programs were caught on the wrong side of a violent market move.

If D'Antoni were a fund manager, at some point he would be writing something like this:

"…Though loses were severe last month we are heartened to observe that had the market moved with such vigor and determination in the opposite direction our programs would have performed in a truly Olympian fashion…"

 Therefore, it was the direction's fault. Everybody and everything else is exonerated. Variations on this theme happen every month in those monthly investor letters. One might say that it's Wall St.'s version of pulp fiction, though they do come written on higher-grade paper.

Then again, the more expensive a piece of stationary is the more circumspect I am about the verity of what's written on it. And whenever I come across something gold-embossed, my antennae go way up. Because politicians have a fetish for using (very expensive, taxpayer-paid-for) gold-embossed stationary. Guess they figure it lends an air of the regal to their act.


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