The700billionbailoutpackageisundervotesagainincongress.Itisalwayenlighteningtoseehowtwistedthingsareintheworldwhileafewhavecomprehensionoftheconsequences.
Americaisagiant,agiantcarriesheavydebtburdens.Ourlifeisbuiltondefictspending,borrowfromotherstoliveafancylife.Yet,webelievethislifestylewillforeverlast.
Nowwehavea770dropintheWallStreet,suddenly,manyarecryingthatthebailoutpackageisnecess...[阅读全文]
天下纵横
随笔而已。不必当真。
博文
(2008-09-30 19:07:29)
(2008-09-23 20:52:53)
EPluribusUnumisthemotoontheUScoinageafterthegreatseal.Itmeans:Therearemany,one.Orineasyunderstandingform,therearemanycurrencies,Iamtheoneandonly.
Nowwiththefinancialcrisisunfolding,themeasureaftermeasureofFEDliquidityinjectiontosaveallirresponsibleparties,itturnstheUScurrencyintoEPluribusHokum.Itthenmeans:Whenthegamblerbailsoutthecasino.
Whatadrasticchangesinasimple6month'stimeframesinceIl...[阅读全文]
Nowwiththefinancialcrisisunfolding,themeasureaftermeasureofFEDliquidityinjectiontosaveallirresponsibleparties,itturnstheUScurrencyintoEPluribusHokum.Itthenmeans:Whenthegamblerbailsoutthecasino.
Whatadrasticchangesinasimple6month'stimeframesinceIl...[阅读全文]
(2008-08-23 06:57:11)
Smokeandmirrors.
Whatistheproblem?Itisthe"solution"theycameupwithhundredsofyearsago.Thatsolutionwascreatedto"helpgrowth."
Lookatitthisway.Agentlemanthatownedgoldshop,hadgolddeposits(truestorybytheway)frompeople,alsolentmoneyoutsothosedepositswouldearnmoneyfortheownersofthosedepositsandforhiscostofprotectingthedeposits.
Goldbeing"awkward"forsmalldealings,causeda"need"forpaper"notes"thed...[阅读全文]
Whatistheproblem?Itisthe"solution"theycameupwithhundredsofyearsago.Thatsolutionwascreatedto"helpgrowth."
Lookatitthisway.Agentlemanthatownedgoldshop,hadgolddeposits(truestorybytheway)frompeople,alsolentmoneyoutsothosedepositswouldearnmoneyfortheownersofthosedepositsandforhiscostofprotectingthedeposits.
Goldbeing"awkward"forsmalldealings,causeda"need"forpaper"notes"thed...[阅读全文]
(2008-07-12 15:48:58)
ITALIAN;
Nessundorma!Nessundorma!
Tupure,o,Principessa,
nellatuafreddastanza,
guardilestelle
chefremonod'amore
edisperanza.
Mailmiomisteroechiusoinme,
ilnomemionessunsapra!
No,no,sullatuaboccalodiro
quandolalucesplendera!
Edilmiobacioscioglierailsilenzio
chetifamia!
(Ilnomesuonessunsapra!...
enoidovrem,ahime,morir!)
Dilegua,onotte!
Tr...[阅读全文]
Nessundorma!Nessundorma!
Tupure,o,Principessa,
nellatuafreddastanza,
guardilestelle
chefremonod'amore
edisperanza.
Mailmiomisteroechiusoinme,
ilnomemionessunsapra!
No,no,sullatuaboccalodiro
quandolalucesplendera!
Edilmiobacioscioglierailsilenzio
chetifamia!
(Ilnomesuonessunsapra!...
enoidovrem,ahime,morir!)
Dilegua,onotte!
Tr...[阅读全文]
(2008-07-10 21:04:40)
IjustreadmywritinginOct2007.ItisasaccurateasIcanbe.
Nowmanyeventsareunfoldinginfrontofus,fromBearSternbailouttopossibleFanneMaeandFreddieMacbailout,theeventsarehappeninglikechainreaction,oneexplosionasanother.Therealestatemarketisinchaos,stockmarketfaresnobetter.Investorsarescaredandlost.Whatdowedonow,theyaskingthemselves.
Iftheyfollowedmyassetsdiversticationbackin2007,theyshoulddowell.But...[阅读全文]
Nowmanyeventsareunfoldinginfrontofus,fromBearSternbailouttopossibleFanneMaeandFreddieMacbailout,theeventsarehappeninglikechainreaction,oneexplosionasanother.Therealestatemarketisinchaos,stockmarketfaresnobetter.Investorsarescaredandlost.Whatdowedonow,theyaskingthemselves.
Iftheyfollowedmyassetsdiversticationbackin2007,theyshoulddowell.But...[阅读全文]
(2008-04-03 20:01:06)
Successfulinvestingrequirestheabilityofseeingthelongtermtrend.
Whenonecannotseeclearlythetrend,thelikelyscenarioishewillholdwrongassetclassatwrongtime.
Iamneitherabullorbear.Bullorbearisrelative.Itoftenisbullinsomecountriesinsomesectorswhilebearisinothercountriesandothersectors.
Sowherearewenow?Themarketisturbulent.Theturbulancereflectthecountertrendsthatfighteachother.Atonehand,wehave...[阅读全文]
Whenonecannotseeclearlythetrend,thelikelyscenarioishewillholdwrongassetclassatwrongtime.
Iamneitherabullorbear.Bullorbearisrelative.Itoftenisbullinsomecountriesinsomesectorswhilebearisinothercountriesandothersectors.
Sowherearewenow?Themarketisturbulent.Theturbulancereflectthecountertrendsthatfighteachother.Atonehand,wehave...[阅读全文]
(2008-01-30 20:19:49)
TodayFEDhadcutrateanother0.5%.Itfloodthemarketwithliquiditylikenotomorrow.
Investorsarenotcheering.WellitprobablysurprisetheFEDwithinvestorsreactions.
FEDhasbeenusingliquiditytoblowupbubbles,afterbubbles.Atcerntainpoint,allthebubbleswillcollapse.Iamafriadthedayofblowupisgettingclosereveryday.Thistimeisnodifferent,onlyiflendingpracticecanberelaxed(tocreatemoresubprime),thehousingjustcantbes...[阅读全文]
Investorsarenotcheering.WellitprobablysurprisetheFEDwithinvestorsreactions.
FEDhasbeenusingliquiditytoblowupbubbles,afterbubbles.Atcerntainpoint,allthebubbleswillcollapse.Iamafriadthedayofblowupisgettingclosereveryday.Thistimeisnodifferent,onlyiflendingpracticecanberelaxed(tocreatemoresubprime),thehousingjustcantbes...[阅读全文]
(2008-01-26 15:38:52)
DavidOistrakh,worldclassviolinestplaysthisconcerto,oneofthebestifnotthebest.Musicinhisplayislikeriverflowsdown.
Mistislavisalsothefinestcelloplayer.IthinkheisonenotchbetterthanYo-yoMa.
Hecametomytownforaretirementconcerto.Wewenttolisten.Itwasgoodbutlocalsymphonyscrewedupprettybad.WhenIheardhispass-awayinMoscow,myheartsank.
BeethovenConcertoinCforViolin,CelloandPiano
DavidOistrakh,M...[阅读全文]
Mistislavisalsothefinestcelloplayer.IthinkheisonenotchbetterthanYo-yoMa.
Hecametomytownforaretirementconcerto.Wewenttolisten.Itwasgoodbutlocalsymphonyscrewedupprettybad.WhenIheardhispass-awayinMoscow,myheartsank.
BeethovenConcertoinCforViolin,CelloandPiano
DavidOistrakh,M...[阅读全文]
(2008-01-26 14:46:05)
Whoisbetter,SarahChangorAnneSophieMutter?
NowSophie's-Audioonly
NowletuslistentotheworldclassviolinestHeifetzplaysthesamemusic,heisasclosetoGodasahumancangetto.Canyoufeelhisemotionsinthemusic?
ButIstillthinkDavidOistrakhisalittlebetter.
[阅读全文]
NowSophie's-Audioonly
NowletuslistentotheworldclassviolinestHeifetzplaysthesamemusic,heisasclosetoGodasahumancangetto.Canyoufeelhisemotionsinthemusic?
ButIstillthinkDavidOistrakhisalittlebetter.
[阅读全文]
(2008-01-26 14:25:12)
AnneSophieMutter,oneofthebestviolinestintheworld.AlthoughshemaynotrankthesameasDavidOistrakh,MenuhinorIssacStern,shestillisoneofthebrilliantviolinestsintheworldtoday.Sheisverystylish,beuatiful,andyetclassic.Theclassicapperanceisbornwithinher.Itcan'tbelearned.AfterIhaveseenSarahChang'sperformance,Iconfirmedwiththatbelieve.SophieMutter'sinnerintelligenceisdeep,accumulatedthrougheducationandtradition...[阅读全文]
