Yeah, funny how profitable those "random improbable" cyclical events can be.
The Turkeys should'a had themselves a Tea Party and invented a 2nd ammendment.
Posted on 12/05/2008 2:59:36 PM PST by NormsRevenge
NEW YORK (AFP) – The hedge fund dealers partied at a New York nightclub like there was no tomorrow -- which for some was probably true.
Swilling martinis and vodkas, they filled Manhattan's white, tent-themed Nikki Beach to bursting. Waiters, trays of tapas held high in the air, became stranded, wedged into crowds swaying to music under pink lights.
About 650 guests attended the event late Wednesday, a third more than organizers expected.
Yet with hedge funds in freefall, this was more funeral wake than celebration.
"The industry is down 20 percent. It's by far the worst environment we've ever seen and we'll see a lot of funds going out of business," said Evan Rapoport, co-founder of HedgeCo Networks, which services hedge funds and organized the party.
The evening was billed as a networking session. Sometimes that meant angling for a particularly special deal.
"A lot of people are looking for a job," said Nicole Alexander from Ovation Group, a corporate travel company.
(Excerpt) Read more at news.yahoo.com ...
what I am saying is very simple: Trust your mother, but cut the cards anyway.
As far as brokers go, they’re salesmen. They have neither the background nor resources to know what’s going on in the market.
Right now there are a ton of people making money in the market, but not the little guy.
You might be interested in Taleb’s interview on charlie rose. You can download at the charlie rose website. Taleb is the guy who wrote The Black Swan and one of a handful of hedge funders who is actually making money. The thing runs about 20 minutes
>>They have neither the background nor resources
>>to know what’s going on in the market.
“But I vas only following/filling orders”
Uhuh. No sale.
>>Right now there are a ton of people
>>making money in the market,
“If the people knew what we’d done, they’d chase us down the street and lynch us”
Ex 32:8
8 They have been quick to turn away from what I commanded them and have made themselves an idol cast in the shape of a calf. They have bowed down to it and sacrificed to it and have said, 'These are your gods , O Israel, who brought you up out of Egypt.'
Look, I don’t know what you’re asking of the “markets.” It’s an adult game. It isn’t nice or pretty or even fair. And no, it’s not a level playing field. If you’re smart enough and willing to put in the time, then you can make a fortune — enough to have your great-great-great-great grand kids singing your praises.
If you’re just going to go into it half-assed through a 401k or online trading, then you deserve to get skinned.
1.You shall have no other gods before me .
I hear He's kind of picky about that one; but you go ahead and worship yourself.Life can be verrrrry long, Mr. Kurtz. Death is not prerequisite for entrance to hell.
Not committing Fraud would be a good start.Part of that whole "Thou shall not cover thy neighbors ass" thingee.
Deut 28:30-34You will build a house, but you will not live in it. You will plant a vineyard , but you will not even begin to enjoy its fruit. 31 Your ox will be slaughtered before your eyes, but you will eat none of it. Your donkey will be forcibly taken from you and will not be returned. Your sheep will be given to your enemies, and no one will rescue them. 32 Your sons and daughters will be given to another nation, and you will wear out your eyes watching for them day after day, powerless to lift a hand. 33 A people that you do not know will eat what your land and labor produce, and you will have nothing but cruel oppression all your days. 34 The sights you see will drive you mad.
It’s not about worship or belief. It’s a game. Like any other game, it’s only worth playing if you play to win.
Fortune for fortunes sake?
yes. but you wouldn’t go up to an NFL player and asked, “Touchdowns for touchdowns sake?”
Greed, envy, and the sociopathic, futile, attempt to satiate a glutonous appetite; all at the expense of others. Rather ugly features of un-restrained hum/animal nature.Without the pursuit of faith in, and worship of, something greater than yourself - that ugly nature is all there is to define your character - and that is the character of a predator.
A game you say?
Was their sacrifice just part of a "game"? Is it a "game" to their families?Are you earning their sacrifice by playing your "game" - as it bankrupts the country and beliefs they died for?
>>“Touchdowns for touchdowns sake?”
Ask Lyle Alzado about the “Win at all costs” attitude; in the end, it cost him his life - and he regretted the example he had set.
Cheating isn’t wining.
Corrupting something that was good because of your immoral selfishness isn’t wining.
It’s just corruption and selfishness. Nothing more, and nothing less.
“Wining” should be “Winning”.
For the record, I don’t work on Wall Street. Never have and probably never will. So, I don’t play that particular game.
However, I have known and know many people who do work on Wall Street.
Someone would have to be close to insane to look for nobility and belief on wall street. Those people of faith who work there, find their faith elsewhere in their lives.
And for the most part, they play hard, but by the rules. When the rules changed — allowing more freedom in the banking and securities sectors — everyone hailed it as a triumph of capitalism. No doubt many of those rules will change again to become more restrictive in the wake of the current crisis, and the people on wall street will continue to play the game just as hard.
>>And for the most part, they play hard, but by the rules.
Bullshyte.
The a$$paper now floating in the global financial pond says otherwise.
There’s honesty and then there’s honesty.
You can play by the rules and still take every advantage. To some that is dishonest.
Is selling a complex and highly risky financial instrument with a three-inch thick contract to a school board comprised or car salesmen and housewives honest? Yes. They had to obligation to understand what they were buying, even if only a couple thousand people on the planet can understand such contracts.
Was it honest? Nope.
Maybe you lost some money and I’m sorry for that, but you knew or should have known the risks going in.
I place a very high value on them as well. did it ever occur to you that the reason those things are valued is because they are rare qualities?
You respond as if you’re ten years old and shocked to discover there are mean people in the world.
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