Monday, November 24, 2008

Okay, I'm back. And what a month "off" it's been... During this time, the market rallied hard, sold off even harder and then rallied again - if only last night. All in all, a pretty hairy period, I'd say.



Oh, and we got a new US president-elect, Hillary got powerful again, the TARP morphed again, credit spreads narrowed, lending rates stayed high, everybody became a bank, China slowed right down and pretended to stimulate the whole planet, depression/recession became a dinner party topic, house prices crashed even faster, earnings fell apart (but beat expectations?!), consumers stopped consuming, Europe fell into recession, Circuit City filed, Asian de-coupling died, deleveraging became a real word, people gave a sh1t about auto makers again, strong & safe "rescue" banks found that they too had to raise fresh private or bailout capital and Citi traded at $3.05 (52-week high: $35.)



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Hedge Thing