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Fishtailing into the Future
Fishtailing into the Future The opening chapters of Michael Lewis’s new book, The Fifth Risk, detail the carelessness of the Trump transition team in the months leading up to his swearing-in as president. Former New Jersey governor Chris Christie led the team, with its binders full of possible agency chiefs, before he was summarily canned […]
The Crash Of ’87 Remembered: “It Was Clear The Acapulco Cliff-Dive Was On For Monday”
The Crash Of ’87 Remembered: “It Was Clear The Acapulco Cliff-Dive Was On For Monday” “The markets in a panic are like a country during a coup, and seen in retrospect that is how they were that day,” wrote a young Salomon bond salesmena named Michael Lewis, of the chaos he witnessed. “One small group […]
Former Fed Advisor Asks “Has The Fed Bankrupted The Nation”
Former Fed Advisor Asks “Has The Fed Bankrupted The Nation” Volcker, Greenspan, Bernanke and Yellen. Which one does not belong? Logic dictates that Volcker should have been odd man out. After all, there is no legendary “Volcker Put.” The towering monetarist made no bones about never being bound by the financial markets. The same can certainly not […]
Betting on the Wall Street Crash
Betting on the Wall Street Crash Exclusive: The 2008 Wall Street crash resulted from a combination of unrestrained greed and political contempt for government regulators who might have prevented the devastation. In The Big Short, the tale is told from the perspective of a few players who saw the inevitable and made money on the crash, […]
The Big Short is a Great Movie, But…
The Big Short is a Great Movie, But… Paris — Michael Lewis is the chronicler of Wall Street. He takes the complexity behind which the inhabitants of the financial world hide and weaves a tale that is both understandable and compelling. Starting with the classic “Liars Poker” (1989), Lewis has produced a number of books about […]
“Fed Policy Is Toxic,” Michael Burry Warns “The Little Guy Will Pay” For The Next Crisis
“Fed Policy Is Toxic,” Michael Burry Warns “The Little Guy Will Pay” For The Next Crisis We are sure, just as many of the so-called “smartest men in the room” ignored him last time, so every status-quo-maintaining, asset-gathering, commission-taker will be quick to dissonantly shrug off Michael Burry’s (the economic soothsayer from Michael Lewis’ book […]
The Big Short–A Review
THE BIG SHORT – A REVIEW “The truth is like poetry, and most people fucking hate poetry.” The Big Short opens nationwide today. But it happened to have one showing last night at a theater near me. My youngest son and I hopped in the car and went to see it. I loved the book […]
“Facts Do Not Cease To Exist Because They Are Ignored”
“Facts Do Not Cease To Exist Because They Are Ignored” Courage “The kid had a 94-mile-per-hour fastball, a clean delivery, and a body that looked as if it had been created to wear a baseball uniform. He was, in short, precisely the kind of pitcher Billy thought he had trained his scouting department to avoid.” […]
How HFT Destroys Markets: 50 Pages Of Evidence
How HFT Destroys Markets: 50 Pages Of Evidence Back in 2009, when aside from a few insiders, nobody had heard of HFT, Zero Hedge launched its crusade to expose the algorithmic scourge that has since then caused an equity, treasury and now US Dollar flash crash, and has been the subject of a Michael Lewis […]
Troy Will Burn – the Big Deal about Big Data
Troy Will Burn – the Big Deal about Big Data I know, I know … I’m a broken record and a Cassandra, with 2 successive notes on Big Data. But I don’t care. This is a much larger structural risk for markets and investors than HFT and the whole Flash Boys brouhaha, it’s just totally under the radar and […]
Michael Lewis Reflects on His Book Flash Boys, a Year After It Shook Wall Street to Its Core
Michael Lewis Reflects on His Book Flash Boys, a Year After It Shook Wall Street to Its Core When I sat down to write Flash Boys, in 2013, I didn’t intend to see just how angry I could make the richest people on Wall Street. I was far more interested in the characters and the situation in which […]
We’ll Meet Again, Don’t Know Where, Don’t Know When
We’ll Meet Again, Don’t Know Where, Don’t Know When I was having a post-Departmental Colloquium dinner with a small group of colleagues from the Harvard Chemistry Department in the Spring of 2008 when the subject turned to the then-recent shudderings of the stock market – a topic which at the time was of greater concern […]
