From Fintag:
FINTAG COMMENT
A new start.
Now America has got some new ideas, a man with a hunger for change and the usual rhetoric that new presidents spout, a warm glow is descending and the world is being hugged by a smart script reader. I wish him and his team the best. The markets decide otherwise.
The hedge fund world is not based on luck or best wishes but models and process and probability. Despite the tools at our disposal, we have mostly made a hash of it. So maybe Obama will have luck on his side and in 2 years time the economy will start to turn.
Mayfair life isn't much fun at the moment. Volatility is back and despite craving for the stuff, this is the wrong type of vol. I mean State Street? Where were the analysts forecasting this?
And as for the muppets running the UK, I can only be pleased my funds are in USD as my liabilities are in GBP. Long live the USD.
Banks
Well the banks had a rough day. Again. And will do again. And this time we have BONY Mellon and State Street caught in the tide of volatility too. Still, Obama must be hoping he can have a full blown crash in the next few months because it can only go up afterwards and he can take all the glory. Not that one should begrudge the O-team for saving us all.
My question is, who is his Marilyn Monroe?...
