MorganStanley-Wachovia
- Thread starter SHELLY
- Start date
-
Trouble logging in? Send us a message with your username and/or email address for help.
Ok, so what is your profession?
Thanks.
I said you can ask--I didn't say I'd answer the question.
.
Last edited:
...SHELLY, thanks for keeping it real.
What's up with MS today?
A wild ride. a 100% round trip. A whole host of reasons why so much volatility in MS as well as GS and all the big financials. Short rules invoked again, leading to covering, serious talk of an RTC like agency to buy the toxic paper from financial institutions, and panic. This week might have presented this same sort of opty that was available Oct 19, 1987. The big banks have all rallied dramatically from the lows of July 15. Cooler heads have realized the huge opty present in blue chips. Stocks that are not effected at all by the credit crunch have been killed because of the rush to liquidity. This has created the opty. I lived through 1987 and believe me, I panicked like everyone else. I worked at Bear Stearns then, managed $50 million in an in-house hedge fund I created. I lost $7 million dollars that day for Bear, the firms other investment accounts lost $100 million. If I had bought and not panicked I would have been a genius. I learned so much during that period that I could write a book. Lessons learned have served me well.
Not quite true. Only time will tell. But I am willing to go on the record that because of the great terms dictated by the govt, not negotiated, the taxpayers will stand to make a tidy profit on the AIG bailout. The US made money on the RTC so history may repeat it self. Read the details of the AIG transactions. I want a piece of that !!
I actually remember the '87 crash.
My piano teacher (who had lived through the Depression) freaked out and almost canceled my lesson! The only time I ever saw her less than serene - impressive considering my skill level - and it made quite an impression on my 8 year old self!
My piano teacher (who had lived through the Depression) freaked out and almost canceled my lesson! The only time I ever saw her less than serene - impressive considering my skill level - and it made quite an impression on my 8 year old self!
WHY?I am starting to miss Perot.
I didn't really mean it!
It was the most important learning period of my life. I truly understood what FDR meant when he said.."The only thing we have to fear is....fear itself " Fear is an emotion that causes a person to think unclearly and then panic sets in. Sometimess that can be a good response as when you are being chased by a tiger !!! Perhaps I am too old or too stupid to react to fear and panic.....but my life experiences and lessons learned say otherwise.
Yes, that day was also a big learning experience for the "plan for the worst and then hope for the best" strategy.
Dad sat down, crunched some numbers, and said "it could get rough, but we'll still be okay." Then he had some more bourbon. ;-)
Dad sat down, crunched some numbers, and said "it could get rough, but we'll still be okay." Then he had some more bourbon. ;-)