Are We Scared Yet?
Apparently, the world is ending because the media says so. The source of much of this hysteria is that the media seemed to have discovered a tool known as the S&P/ASX200 VIX indicator which is also known as the fear indicator. One somewhat hysterical report claimed that it was the highest it had ever been, which…
Details
I Played Blackjack With the World’s Best Card Counter
It’s 10 p.m. on a Saturday, and the low-fare overnight buses in Chinatown are idling in rows. Markets have long ago pulled down their metal gratings and thrown bags of pungent trash onto New York’s curbs. And directly under the Manhattan Bridge, on a desolate corner, here’s an unusual sight: men in sequined sports coats…
Details
China’s Market And Policy Timeline
Bloomberg has created an interesting graphic looking at the various market interventions undertaken by the Chinese government. The part to concentrate on is the number of actions taken to stem the decline – none of which seemed to have worked. My feeling has always been that markets will go int he direction they want to…
Details
That Must Have Stung…..Just A Little
This has been a tough week for the 0.01% out there. For the world’s billionaires, this week is already proving rough. The Chinese stock market dropped 8.5 percent Monday, the biggest single-day decline since 2007, and the world’s 400 richest people lost about $124 billion collectively. Chinese billionaires lost more than $14 billion of their…
Details
Drawdowns
I thought will the market currently going to hell in a handcart it would be instructive to generate a few drawdown curves for the main players. Moves such as the one we are undergoing are always instructive, if only for the illustrative effect of seeing how little the media actually knows about market. The issue…
Details
