Behavioral Economics: The Big Short Part III, The DK Effect Part VI

Tune into any of the three major business news channels and you’ll be treated to an endless parade of “experts” framing that day or week’s trading activities with narratives that, on the surface, seem to explain what’s driving the market at any given time. But after a couple of decades of watching these people, I’ve concluded that a great deal of their “analysis” is simply designed to keep the rubes in the game by providing seemingly “rational” explanations for what are largely high frequency, computer driven trading schemes that use “dark pools” of money and others forms of subterfuge to separate investors from their money.

Economists And Psychopaths

“The human toll here looks to be much worse than the economic toll and we can be grateful for that.” WTF.

Obama To Chrsyler Hedge Funds: Stick It

With everybody on board except a few hedge fund “speculators” who bought Chrysler debt at a steep discount, President Obama just announced that, despite trying to avoid a Chapter 11 bankruptcy (including offering these greedy bastards another $250 million at the last moment to avoid it), a bankruptcy restructuring was the only way to save the company and  10,000s of …