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Olduvai III: Catacylsm
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Looking for the Next Crisis: the Not Very Scary World of CLOs

Looking for the Next Crisis: the Not Very Scary World of CLOs We’re still in financial crisis mania, as the business press eagerly tries to tell us how little they learned from the last crisis by trying to identify the source of the next one. The NYT’s latest contribution to the effort is a piece […]

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CDO Redux: Credit Spreads & Financial Fraud

CDO Redux: Credit Spreads & Financial Fraud “The great wheel of circulation is altogether different from the goods which are circulated by means of it. The revenue of the society consists altogether in those goods, and not in the wheel which circulates them” Adam Smith, 1811 Southport | This week in The Institutional Risk Analyst, […]

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The Big Short

The Big Short QUESTION: Marty; I am curious what you thought of the Big Short especially since you are the one who got the timing right to the day. In markets, I do not have to tell you that being too early is more dangerous than being too late. Since that fateful day on the floor […]

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Olduvai IV: Courage
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Olduvai II: Exodus
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