I hope I’m giving enough disclaimers so that no one can possibly be fooled into thinking I actually know what I’m talking about, but I continue trying to absorb as much as I can as events unfold.
I know very little about financial statements and most of my comments on the subject of corporate leverage have [...]
Back in the dark ages when I was a physics major, I was probably even more stubborn than I am today. I would routinely reject theories that were taught to me and try to think about how things really should be. I would occasionally come up with whacky ideas only to later discover that other [...]
An interesting article from the WSJ:
How a Gulf Petro-State Invests Its Oil Riches
Now, I am an admitted amateur when it comes to macroeconomics and asset management. I did have a pretty fantastic immersion in the subjects for two years, but realistically, what can you learn in two years when you are starting from basically zero? [...]
Another 16 hour day! Phew! Kick @$$!!
Anyway, although I should be sleeping, I decided to compose another stream of consciousness over at NP.
“In my opinion, the CDO market is history.”
[From RRP:]Eric, this is the kind of stuff that you say that drives me nuts.
Come on. Admit it. This is exactly the worry that has driven [...]
My invitation to move some of the discussion here to avoid flooding the thread “Discount Rate” on NP so far has not been taken advantage of so I just left the following comment:
[From RRP:]First of all, best wishes to your daughter on her birthday. One of the benefits of living in Southern California is close [...]
Got this via the good guys over at Econocator:
Merrill Lynch - The Credit Monitor
“Easy money” is the root cause of current credit volatility. While mortgage finance, Hedge Funds, LBO’s, Yen-based financing, SIVs/Conduits and CDOs have all been cited as sources of structural leverage they are derivative of the 1% funds rate policy from the early [...]
What a week!! I certainly picked a good time to start a new job in structured finance. It’s only my first week and I’ve already had two 16 hour days where I was in the office until after midnight
Actually, I love it! I love the intensity and love pushing myself. Reminds me of [...]
[Note: Here I am joining the flocks of bloggers pointing to their prior words of wisdom. My apologies!]
On Saturday, I wrote
Flight to non-USD quality
Over the last few weeks, being on “garden leave” has given me a great opportunity to watch recent events unfolding from the sidelines. In that time, I’ve made a lot of comments. [...]
Well, the days of sitting around reading financial blogs in my boxers has finally come to an end [Too much information?]
I started my new job today. I’ve got mixed emotions about it so far. There are certainly aspects of my old job I’m going to miss. It was a lot more plush, e.g. I [...]
It may sound a bit strange, but I was maintaining a blog on my prior employer’s intranet. If you knew the place, you might agree it actually makes sense. A massive asset management firm struggling to maintain effective communication between analysts and portfolio managers. Email and hard copies of research were becoming ineffective (in my [...]
