Saturday, May 15, 2010

Insert foot in mouth and Chew

[adapted from blog: naked capitalism]

What did they say moments in Financial Crisis:

Irving Fisher, renowned economist, one week beofre the crash of 1929:

“Stock prices have reached what looks like a permanently high plateau.”

[My Notes: This tells us that economists and stock market investing are completely different vocations]

Ben Bernanke in his March 2007 Congress testimony:

"The subprime crisis is contained. Losses at most will be $50 to $100 billion."

[My Notes: We know what happened to subprime, rather, what subprime did to the world. The losses have come in trillions, and, still counting.]

Hank Paulson, U.S. Treasury Secretary, on why he wanted immense powers to manage the Freddie mae / Fannie Mae problems:

"If you’ve got a bazooka, and people know you’ve got it, you may not have to take it out.”

[My Notes: the markets have a nasty way of calling bluffs. Paulson put Fannie and Freddie into conservatorship less than two months after his comment.]

Now, we have a Euro Crisis Moment:

U.S. Treasury Secretary, Geithner’s moment may have arrived. In an interview with Bloomberg TV, he said:

“Europe has the capacity to manage through this, And I think they will.”


ANAS said...

Respected Sir, its me Anas again (with my old query of ADX]
I am working on my Mechanical Trading System (still in its nursery stage] I seek your experience & knowledge to improve it.
Sir , it will do me a great benifit , if you would spend some of your precious time to explain ADX. not the calculation method, but its interpretation at differant levels, how it shows whether a trend is strong or weak (early or at the stage of topping out).
the method to calculate the appropriate time frame for differant stocks/indexes.

Also, if there is another indicator which determines trend better than ADX.
Your views will be highly appreciated.

Thank You once again for keeping in touch with us. (the weather in Kolkata has again turned hot]

(just wanted to add , that i purchased tata photo+ devise on saturday. the speed is awesome, and am 100% satisfied till now.)

haresh said...

And your notes on Euro Crises?

rocky said...

respected sir,

i would be thankful if you disclose some idea of nifty here as you state on television. and some stocks also regards