hmm. I found them fascinating books and didn't consider him a blowhard, possibly because I've met far too many rote dullards who work in the financial sector so I agree with some of his underlying ideas. I actually think them better books for theories of non-financial risk analysis.
What are the operating expenses you have to cover and how are they accounted for?
What is the expected donation to charity?
Why should one donate to them and not Frank Water and Mercy Corps directly?
Hehe. Wonder how long they last on their own? They, Moonlight Basin and Big Sky could linkup for a megaresort.
Now if only Alpine and Squaw will stop squabbling, buyout the dude with the lift, and linkup as well.
at least she wasn't stating how people go back to basics when their local society is under stress - we'd have to string her up for threatening the god/guns/xenophobia tripod
I think it's a semantic argument.
"systemic risk" to me is people believing in the great realestate ponzi scheme that will make them rich so buying a $1.1million 2.5 bed home is a good investment guaranteed to appreciate when someone can rent a 1 bedroom closer to the beach for $900/mo. That is a great systemic risk
"pointsource risk" to me is people believing that BSC and company's like will ever be allowed to fail so there's no risk in being BSC or doing business with BSC.
The profit for point sources tend to be higher so they earn more ire from me.
At $10 a share I'm not sure "liquidation" is an accurate term. The government stepping in because Bear's counter party risk was simply to great suggests that there is no risk for people doing business with bad companies. If there's no risk for people doing business with you, why not run a bargain basement shop?
Your neighbor got a $200k home on a subprime; Cayne got a floor at the Plaza for $25 million cash from BSC