players

We were seated next to one another with little in common but mutual respect for calculated risk-taking; a big Hollywood director and a token hedge fund manager (every good dinner party needs one). Directors are like dictators – play by their rules or get cut. He loves to shoot in black & white — it’s how lots of folks see the world. Good traders discover how much that medium costs ya, and learn to app

Hope all goes well. Busy wk, lots of visitors and jumpy mkts. Been fortunate to have low risk, gives us ammo to re-load as mkts puke. You never buy the low, or sell the high so getting in tends to hurt a bit. Overall: German Fin Min Schaeuble spoke plainly, “America’s growth model is stuck in a deep crisis, has lived beyond its means for too long, its financial sector is disproportionately inflated and its industrial

German Fin Min Schaeuble spoke plainly, “America’s growth model is stuck in a deep crisis, has lived beyond its means for too long, its financial sector is disproportionately inflated and its industrial core neglected.” Called US monetary policy, “Clueless.” China’s rating agency downgraded US sovereign debt, using similarly blunt language. And humbled Obama scurried across Asia looking for a win and came up mostly e

Global power continues to shift. Dilma Rousseff, former Marxist guerilla and now Brazil’s first female President, spoke with Obama and discussed US unemployment. She called to end “Currency Wars”, pledged fiscal conservatism – S&P/Fitch will consider an upgrade. Obama lost mid-terms, sold Saudi’s $60bln of weapons, had the boys warm up Air Force One and jetted off to Asia. Korea’s FX reserves hit new highs

Got a call the night before midterm elections. A sensual voice urged me to vote for Prop 19. I got no other calls that night so it musta been a real high political priority, right? The temptress informed me approval will, “Legalize Marijuana, help our police regulate it like alcohol, protect our children from uncontrolled substances (hilarious!), and raise billions in new taxes.” Hmmm… It’s fascinating to watch peopl

Hope all goes well. What a fascinating week. Spent it here in CA watching mkts obsess over elections, printing presses and employment reports. Overall: Global power continues to shift. Dilma Rousseff, former Marxist guerilla and now Brazil’s first female President, spoke with Obama and discussed US unemployment. She called to end “Currency Wars”, pledged fiscal conservatism – S&P/Fitch will consider an upgr

My Ford Bronco was built in 1971, 2yrs after Armstrong stepped on the moon, lifted by basic computing and raw ambition. It’s got no power brakes, no power steering, and 8 cylinders that guzzle gas and shake the neighborhood. So when I fire her up, I’m reminded how technology has advanced, and how that advance has accelerated. Moore’s Law (the number of transistors we can put on a computer chip doubles every 2yrs) has

Hope all goes well. Spent an interesting few days in London. Uncertainty about the direction of mkts and the world economy persists. Flows in our industry are warming up. Overall: The G20 called for a truce in FX mkts and offensive operations ceased. The generals surveyed the field, stocked up on supplies: bought insurance (VIX +13%); food (corn +4%); and Gold (+2.5%). Stocks & Dollars were quiet/stable as foot s

The G20 called for a truce in FX mkts and offensive operations ceased. The generals surveyed the field, stocked up on supplies: bought insurance (VIX +13%); food (corn +4%); and Gold (+2.5%). Stocks & Dollars were quiet/stable as foot soldiers, safe in foxholes, spent more time debating QE2 than fingering buy/sell triggers. India’s Singh announced an alliance with Japan to mine rare earth metals, circumventing Ch