Hedge Funds

[Diver]

I think I preferred the vogon poetry.....

Oh freddled gruntbuggly,
Thy micturations are to me
As plurdled gabbleblotchits
On a lurgid bee
That mordiously hath bitled out
Its earted jurtles
Into a rancid festering [drowned out by moaning and screaming]
Now the jurpling slayjid agrocrustles
Are slurping hagrilly up the axlegrurts
And living glupules frart and slipulate
Like jowling meated liverslime
Groop, I implore thee, my foonting turlingdromes
And hooptiously drangle me
With crinkly bindlewurdles,
Or else I shall rend thee in the gobberwarts with my blurglecruncheon
See if I don't.


Oops!

I digress

[snaw]

fight. fight!

ATW can you get one of your hamsters to give -me- a back rub please?

I'm waiting for him to wipe the spit of his screen before he gets in his next reply.

He's getting a wee bit upset by the looks of it. Much more entertaining than his dreary economic diatribes.

[AtW]

Short selling is a valid market tactic, it's not to blame for the credit crunch - it just exacerbated it in these volatile times. It'll come back. I don't like it either. It's way to soon to see what the impact of it will be in the long term.

Valid or not I said it should be banned, got laughed at, and now FSA and others banned them. So my prediction came true.

House prices dropping quickly now and signs are this will only accelerate next year, just recently people on this forum were saying how "fundementals" of lack of housing etc were preventing houses from dropping, so I was right again.

Now snaw, remind me please, which fairly major economic prediction did you make recently and did it come true?

You mention any of your other wacky ideas - telling people what they can spend bonuses on etc. Loved that one ...

It was not a "whacky" idea. Do you know that if you work proper for MI6 or something then you can't be sniffing drugs, gambling big and do stuff like this with "your money"? You can't do tulip like this because you become a security risk - same with banks: those boy traders wishing to buy Porsche the second they get their annual bonus were a risk to banks because they'd do anything to get their bonus. Look at that trader in French bank that was playing with unauthorised trades on the market which was not noticed until he lost big. Bonus played big role in his motivation.

I mean what is really this "bonus" thing in the City is? It's a sales driven motivation - take any sales driven company where staff gets most of their money from sales and you will find that there is a lot of fraud and misseling going on. Mobile phones retailing in the UK is a good example.

[AtW]

He's getting a wee bit upset by the looks of it. Much more entertaining than his dreary economic diatribes.

Not at all - even though people who try to shut my mouth are mildly irritating.

[AtW]

ATW can you get one of your hamsters to give -me- a back rub please?

That's squirrels, not hamsters!

[Churchill]

That's tree rats, not hamsters!

Shirley?

[snaw]

Valid or not I said it should be banned, got laughed at, and now FSA and others banned them. So my prediction came true.

House prices dropping quickly now and signs are this will only accelerate next year, just recently people on this forum were saying how "fundementals" of lack of housing etc were preventing houses from dropping, so I was right again.

Now snaw, remind me please, which fairly major economic prediction did you make recently and did it come true?

I predict shorting stocks will come back next year ...

You didn't predict it, you stated an opinion on it way before this crisis - i.e. you think it's wrong. It's wrong in these very peculiar times we live in, But it's not to blame for them, and it will be back because it's a valid market technique.

Equally house prices, you've been predicting for four years I've been here they'd fall. Had to come true at some point, but they rose quite a bit in the meantime, and quite a few of us made a bit of cash of it. That's how things generally work, with house prices and with the stock market. Tehy go up, they go down. They'll be back again. It was hardly a unique view, or evidence of your economic superiority.

It was not a "whacky" idea. Do you know that if you work proper for MI6 or something then you can't be sniffing drugs, gambling big and do stuff like this with "your money"? You can't do tulip like this because you become a security risk - same with banks: those boy traders wishing to buy Porsche the second they get their annual bonus were a risk to banks because they'd do anything to get their bonus. Look at that trader in French bank that was playing with unauthorised trades on the market which was not noticed until he lost big. Bonus played big role in his motivation.

I mean what is really this "bonus" thing in the City is? It's a sales driven motivation - take any sales driven company where staff gets most of their money from sales and you will find that there is a lot of fraud and misseling going on. Mobile phones retailing in the UK is a good example.

Oh FFS. The thing is, they're not in the security services, and none of us want to live in that kind of security state. I spend my wages on wtf I want, and I'd object to anyone telling me otherwise - if I want to blow it on drugs, drink and hookers that's my prerogative.

[AtW]

Equally house prices, you've been predicting for four years I've been here they'd fall. Had to come true at some point, but they rose quite a bit in the meantime

Sure they did not fall straight away - Govt greatly encouraged banks and people to fool themselves that house prices will keep growing. Four years however is not a long time - you need to compare this with time taken to pay out morgage (25-30) and especially with time spend while being bankrupt due to default on morgage.

I was certainly right not to get into this (or stock market) gambling orgy - that's because I have learnt lessons from Russian economical collapse of 1998 that made me move over here for good.

I am just hoping people in this country will also learn a lesson from this one but I don't hold my breath - something like this already happened here in early 90s and clearly people did not learn it.

Oh FFS. The thing is, they're not in the security services, and none of us want to live in that kind of security state. I spend my wages on wtf I want, and I'd object to anyone telling me otherwise - if I want to blow it on drugs, drink and hookers that's my prerogative.

They are managing peopel's pensions, life savings, investments - ffs, they should take much greater care with those than security services! All staff in such important positions should be taken on lie detectors regularly, no stupid bonuses for short term games - this includes traders AND bosses. If that was in place there would have been no credit crunch. Granted a lot of people would not work in the City - but that's good thing because maybe those people would have actually done something useful for humanity rather than helping to fook people out of their money.

[snaw]

They are managing peopel's pensions, life savings, investments - ffs, they should take much greater care with those than security services! All staff in such important positions should be taken on lie detectors regularly, no stupid bonuses for short term games - this includes traders AND bosses. If that was in place there would have been no credit crunch. Granted a lot of people would not work in the City - but that's good thing because maybe those people would have actually done something useful for humanity rather than helping to fook people out of their money.

Sounds like utopia ...

[AtW]

Sounds like utopia ...

That's common sense. Would you trust bank more if it took such pro-active approach towards staff? I sure would. If the staff does not like the rules that safeguard clients money they can fook off. There will be plenty of people to earn City salary while also doing their job properly - certainly after many in the City lose their jobs in the next 2-3 years.

As I said before - anyone who gets big bonus on Xmas and goes to buy brand new Porsche while knowing full well (or should have known using their supposedly superior City economic knowledge) that it's the peak period for idiots with bonuses buying flashy cars, then it would make economic sense to wait at least few months to buy off 2nd hand 3-4 months old Porsche for a LOT less money. Now that would be sound approach to spending bonus on Porsche and if my employee told me this strategy I'd approve it. But if he went to buy Porsche straight away with Xmas bonus he would not have a job in Januiary.