Archive for November 2008
Required Reading on Financial Crisis
Remember Liar’s Poker by Michael Lewis about 80s Wall Street excess? Well, he has a terrific article on some guys who saw the subprime meltdown coming and bet heavily on it. It’s great narrative and a reminder that whenever someone’s model departs substantially from reality, there is an arbitrage opportunity. Hey, maybe we should rename this blog “Reality Arbitrage”.
Possible Insight 