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Source:
Citigroup Saw No Red Flags Even as It Made Bolder Bets
ERIC DASH and JULIE CRESWELL
NYT, November 22, 2008
http://www.nytimes.com/2008/11/23/business/23citi.html
With the US$ counter trend (I emphasize counter trend as secular decline will continue again at some point) rally apparently underway, which I believe began on Nov 17th when Bernanke uttered the word 'dollar' in terms of its impact on commodity prices and thus inflation, here is a very unscientific method of measuring dollar bearishness and how extreme sentiment got. Using Google search, 'dollar bull' comes up 6.6mm times while 'dollar bear' has 11.6mm results....
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December 1st, 2008 at 3:19 pm
I love all of the graphics NYT puts out, but does anyone ever question the validity of their data? Has the Citi CDO data been public for a while?
December 1st, 2008 at 6:34 pm
If they were only 4 and 3 in 05/06, who was ahead of them?