This article sums up exactly my experiences at DE Shaw during the ruble default/LTCM melt down in 1998….Running for the door, any door, cutting a door, jumping out the windows.….
winterspeak.com
This article sums up exactly my experiences at DE Shaw during the ruble default/LTCM melt down in 1998….Running for the door, any door, cutting a door, jumping out the windows.….
1 comment:
The problem here is that the article doesn't explain who they were selling them *to*.
There simply can't be homogeneity or you can't have a market. There would be no buyers.
Now if the buyers get one up on the sellers, why is that a problem? If the panic sellers go bust, why is that a problem?
None of this secondary market churn affects the primary market. And it really doesn't affect the primary market if there are good investment banks
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