Comments on: When Genius Failed http://www.ritholtz.com/blog/2008/11/long-term-capital-management/ Macro Perspective on the Capital Markets, Economy, Geopolitics, Technology, and Digital Media Sat, 21 Nov 2009 19:25:27 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: dunnage http://www.ritholtz.com/blog/2008/11/long-term-capital-management/comment-page-1/#comment-136768 dunnage Thu, 01 Jan 2009 09:10:01 +0000 http://www.ritholtz.com/blog/?p=8127#comment-136768 Once again the Ivy League, U. of Chicago, MIT, Supple-Side, Philips Curve we know a genius when we see one crap. There was no genius is this formula. The Markets ain't math. The Playing Field ain't level. And if you do the same thing over and over you.... and that's why we enjoy sex. But don't speculate, sorry, invest on that basis. Dumb Asses: And where does the story end -- NY Fed again. Sound familiar. No Genius this time either. But there's the NY Fed and Investment Houses and this time Geitner and Paulson and JPMChase. And Jamie is a hero, well he talks nice and reporters like him -- Geitner new Sec.-- Gunga Din. The only genius I've seen on Wall Street was Paulsen's way of getting a Trillion $. Give it to me. Once again the Ivy League, U. of Chicago, MIT, Supple-Side, Philips Curve we know a genius when we see one crap. There was no genius is this formula. The Markets ain’t math. The Playing Field ain’t level. And if you do the same thing over and over you…. and that’s why we enjoy sex. But don’t speculate, sorry, invest on that basis.

Dumb Asses: And where does the story end — NY Fed again. Sound familiar. No Genius this time either. But there’s the NY Fed and Investment Houses and this time Geitner and Paulson and JPMChase. And Jamie is a hero, well he talks nice and reporters like him — Geitner new Sec.– Gunga Din.

The only genius I’ve seen on Wall Street was Paulsen’s way of getting a Trillion $. Give it to me.

]]> By: winstongator http://www.ritholtz.com/blog/2008/11/long-term-capital-management/comment-page-1/#comment-127850 winstongator Fri, 21 Nov 2008 15:34:10 +0000 http://www.ritholtz.com/blog/?p=8127#comment-127850 What struck me was how relevant the book reads today (I finished it 3 days ago). Also, there was a section in the epilogue decrying Greenspan's adherence to avoiding regulation of derivatives. I also blushed reading that LTCM's volatility models didn't include 1987! Do today's bond models only go back to 2000? What struck me was how relevant the book reads today (I finished it 3 days ago). Also, there was a section in the epilogue decrying Greenspan’s adherence to avoiding regulation of derivatives. I also blushed reading that LTCM’s volatility models didn’t include 1987! Do today’s bond models only go back to 2000?

]]> By: Mike in Nola http://www.ritholtz.com/blog/2008/11/long-term-capital-management/comment-page-1/#comment-124668 Mike in Nola Thu, 06 Nov 2008 03:22:46 +0000 http://www.ritholtz.com/blog/?p=8127#comment-124668 Barry, Do you believe, like many others I've read the past few months, that the Fed should not have rescued LTCM and created the moral hazard we are dealing with today? Barry,

Do you believe, like many others I’ve read the past few months, that the Fed should not have rescued LTCM and created the moral hazard we are dealing with today?

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