You will hear a lot of chatter about „the resetting of risk premium“ right now. And it is true. But what’s really going on is lying prices. These strategies didn’t take into account the risk of default. The agencies didn’t take it into account. The packagers didn’t. The homebuilders that relied on it didn’t.
Quelle: The Lie That Will Kill Hedge Funds
Es geht alles immer nur aufwärts? Ein bisschen Realitätsfern, diese „Investment“-Leute … Keine Ahnung, wieso jemand solchen Tunnelblicklern das Geld nachwirft – aber so ist es wohl nun mal.
Was solls, ein paar Insolvenzen (Stichwort: Bear Stearns), und weiter geht die Reise ab durch die Decke der Wallstreet.
Halt, nicht so voreilig!
This process is playing out everywhere, and the government isn’t going to bail out these hedge funds. The good news is that it will happen fast. The money will come out, the losses will be big, but these hedge funds will all be closed by year-end. Trillions will vanish. But then we will start all over again. […] By November, this will be over.
