Tuesday, October 23, 2007

overconfidence and subrpime


http://www.youtube.com/watch?v=BzuxEyeqri0



richard branson , joseph lewis and lots of other peer investors, big ones, are already positioned to reap the benefits from the subprime mortgage crisis. they are very confident that there are bargains out there , while santaklaus ( ben bernanke) concedes that it is very difficult to assess the state of the economy and the cacophony goes on with the grinch as loquacious as never and confusing indeed , assessing the odds of a recession every day and criticizing the super conduit fund for being contradicted the very next day by Benni. What a wonderful world , what an harmony of views !Sir R. Branson , the stuntman, has almost broken his neck diving from las palmas tower in vegas . What will happen to these mavericks ,will they be right to chase the debris of the housing market when the end of the crisis is not yet visible, provided that they are better informed than the common mortals or are they just playing poker, bluffing to catch the momentum and sell the hubris of subprime mortgage to some rich emerging markets tycoons or state conglomerates driven by oil and slave labor? are they just overconfident after the great bonanza of the past 5 years ignoring all the risks. Will Benni support the bets of these business men who enjoy different competitive advantage on everybody else as j. lewis highlights from his domicile in the bahamas

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