Posted on June 2nd, 2008 in Mr Mortgage - News Picks of the Day!
This is something new I am starting. All day long, I am reading press releases, getting emails regarding events happening etc. I forward stuff off to buddies and they forward to me and it becomes tough to keep track of it all. I can’t comment on all of them but think many have a direct impact on the mortgage, credit and housing implosions. Therefore, in addition to my personal research, beginning this evening I am just going to aggregate what I consider to be the best stories daily for all of you with comments as necessary. This should free up a lot of my day and enable me to pass on great stuff, which you may not get or have time to check out on your own, to all of you. -Best, Mr Mortgage
Banks’ Credit Solutions Have Echoes of 1929 Depression – Telegraph.co.UK . This story is a goodie.
The Quant Funds responsible for recent stock mystery rallies– Bill Fleckenstein . This reminds me of all the ‘quant super stars’ from 2005-2007 when the market went straight up, slowly, and the VIX was at 10. These guys are great until something happens that the computers have never seen before, such as the implosion of the Earth’s largest credit bubble. I remember the day CITI said, ‘we lost $150 million on 12 different day’s this quarter in our quant trading’. That was Q4 2007 if I am not mistaken.