In the MUST read column of the week, from Mynianville: link.
"...Both of us worked at major broker-dealers and ran large hedge funds so we’re pretty “up to speed” on the way the Street works. ...The residual grist is what you’ll read the next morning but to fully understand the market machination, you need to see both sides. To the earlier point, there are plenty of agendas in play that benefit from green screens and little, if any, motivation to paint the risks.
Ironically, when risk manifests—after prices fall—they’ll find their way to the front page when it’s too late to proactively position...I am trying to see all sides, including the potential that China “holds it together” through the Olympics...When push comes to shove, however, through the lens of “asset class deflation vs. dollar devaluation,” the same tide that lifted all boats could serve to swallow soybeans to Cisco to Citibank..."
"...Both of us worked at major broker-dealers and ran large hedge funds so we’re pretty “up to speed” on the way the Street works. ...The residual grist is what you’ll read the next morning but to fully understand the market machination, you need to see both sides. To the earlier point, there are plenty of agendas in play that benefit from green screens and little, if any, motivation to paint the risks.
Ironically, when risk manifests—after prices fall—they’ll find their way to the front page when it’s too late to proactively position...I am trying to see all sides, including the potential that China “holds it together” through the Olympics...When push comes to shove, however, through the lens of “asset class deflation vs. dollar devaluation,” the same tide that lifted all boats could serve to swallow soybeans to Cisco to Citibank..."
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