BSC opened @ 143.07 and is now trading @ 141. It has traded today under 140. But please don't tell tough guy he was wrong, unless you're prepared to meet and fight !!
Wow, you have serious issues. I bet i'm not the first person to tell you that. Here's my 3 step program to help you lose the rage and become a happy person in life : 1) quit the drugs 2) love somebody and be true to them 3) lose the childish insults. Instead, try to be constructive. Good luck, you'll obviously need it.
Why don't you entertain us with a pic of your cottage in Quogue? Tips must be good, or are you turning tricks on the side?
bear is big. and leaning a little out of the window to rescue two of his assets. no big deal so far. the question is if this is enough to start a stampede. in recent years very much money was in the CDO market, in fact this business was the main driver for the record results in some of the major investment banks. who sold tons of such structures to institutional investors all over the globe. and credit spreads have shrunk to very tight levels. now the question is if the US housing market is enough of a trigger to make parts of that credit derivatives building fall apart. in may 2005 the almost bankruptcy of general motors ignited a big correction in the credit market, or more precisely in the standardized credit market and here especially in the equity pieces, bringing implied correlations to levels below 10, while having traded before above 20. back then rumor had it that one big hedge fund would have to liquidate positions at these levels, putting further stress on the pricing with a domino effect being possible. it did not happen then. i think one of the reasons was that the intransparent market and the fact that they only reported monthly figures to investors provided some time and the market took some breath again. i think it was quite near a crisis then, but it just cost few people their jobs at some correlation desk. the difference to stock or bond crisis IMHO is that the effect does not necessarily unfold immediately. the whole credit market is still so much driven by marked to model, that it might still take some weeks to make clear whether crisis is unfolding or not. anxiety has increased. many desks are nervous. and we are diving into low liquidity season. which is not helpful either in this case. i would not buy the knife now.