PREVIOUS EPISODES:
NSFW Episode 12: The Energy Rodeo
NSFW Episode 11: Groupon, Google, State Bankruptcies
NSFW Episode 10: Barclays Layoffs, Arizona Shootings, $100 Crude Oil
NSFW Episode 9: Bonuses, Facebook, National Debt
NSFW Episode 8: The Christmas Special
NSFW Episode 7: All-Nighters, Bush Tax Cuts, Crash JP Morgan
NSFW Episode 6: Burnout, Bailing Out Europe, Wikileaks
NSFW Episode 5: Lehman Bankruptcy, TSA, Black Friday
NSFW Episode 4: Silver, Welfare Reform, Winter Inflation
NSFW Episode 3: Day Trading, Estate Taxes, Prop 19
NSFW Episode 2: The Euro, Prop Trading, Technology
NSFW Episode 1: QE2, Housing, Commodities
This week's required reading:
Confidence Game: How Hedge Fund Manager Bill Ackman Called Wall Street's Bluff
and
No One Would Listen: A True Financial Thriller
Let us know what you think in the comments, and have a great week, guys!
Great stuff as always but you were chopping up a bit there Eddie...
Good topics this week. Well done.
Open outcry wouldn't be such a bad idea; at least there would be a human element. The rest of the world can take a hike and be in their live version of an Isaac Asimov novella. I'll keep my "self worth," thank you. [/insert secluded winter lodge for uninterrupted peaceful skiing. I don't think this new era of machines and technology will find me there]
Man you should have watched it on BBC 1 ! It was also aired on German TV.. anyways... great point of view on the HFT systems; you guys are right, finance should be based on trusting people, not machines.
Im slowly starting to realize that so many people whistle bowed the credit crisis way before the shit hit the fan, its insane... Oliver Wyman, all the guys mentioned on the Big short by Michael lewis and now this "confidence game" book...
What worries me the most is that if some individuals published these problems and spent a great amount of time backing their market view with data, why did nobody double checked these claims and see that there was a severe problem ? Do you guys think that people within the industry are focused that much on short term profitability ? To me this is quite puzzling since you had the whistle blowers, the fact that people within the industry knew there was a shitload of crappy OTC derivatives going around and also the fact that it didnt take a lot of thinking for senior executives to see that the "subprime lending project" had a negative NPV.
It seems that the markets DO move like a herd of sheep, chasing short term profits and ignoring long term implications and this is quite shocking to me.
The show has made some great improvements. The dialog is more conversational now than it was in the first couple of episodes. Looking forward to seeing this continue.
Good to see that you both have sobered up since the Energy Rodeo! I share Eddie's hopefulness for the Middle East. The greatest possible way for a society to modernize and develop is through human freedom and spirit, which can't be held down forever. It's indomitable. It has to happen sometime; why not now?
Thanks for the great post guys: I have very little time to keep up on things, so you're kind of filling the information void that the news, Daily Show, and internet used to in school. Speaking of which: I'm curious if John Stewart knows about you guys yet.
I'm a bit more comfortable with technology, probably because I grew up with it, but I agree with you and think that a premium will be put on human interaction as time goes forward. As for security: even at the pentagon, this has always been lacking, so unless people continue to make a stink it will be a HUGE liability. As far as a parallel internet - I don't think it's viable/necessary, but if you guys know something the rest of us should be aware of please do tell......
I'm really glad to see that you called the Egyptian political situation for what it is, rather than filtering it through any ideological lens: the few minutes you put up here cut through mind numbing amounts of information and got to the point, so thanks for being the messengers.
looking forward to the next post.....
Nice sunglasses, Neo. Did you and V get a discount in the matrix?
Great discussion, I can always rely on you guys for the best financial insight!
I will be fucking pissed off if there is any sort of master internet cut-off switch put in place for anyone...anyone.
Great job again guys.
Regards
That's why NSFW is the only place to get your real news. lol
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