Sunday, November 16, 2008

Serendipitous Events


Christophe

Villedary

" Câlin de Mère Grand "


I mentioned the Mark Taylor interview to a friend of mine via e-mail. Small world. As it turns out, Taylor is an old friend and colleague of his. He mentioned that Taylor is brilliant and that he has to work to keep up with him. My friend is brilliant and I have to work to keep up with my friend. A food chain of intellect, and I'm on the bottom rung!

I remember being in the Little Givens Bookstore in Lynchburg, picking up an old volume of George Santayana's Life of Reason. Santayana is known for several notable quotes, but I was not familiar with his work. As I opened the book, the prose was a thing of beauty. It is one of my favorite books. After pestering many folks about Santayana, I pestered my friend. As it turned out, my friend had done his masters thesis on Santayana. It's very good to have friends such as that!

I think that surrounding ourselves with different people and points of view gives us a background painted with a full palette of colors from which to (in)form our own thinking about this or that. I believe that a monochromatic background yields a monochromatic point of view. Though still pleasing to the eye, it lacks a both depth and vibrancy. I think that the internet helps with

In the Mark Taylor interview, I was interested in his reference to William Gaddis. I'm not familiar at all with William Gaddis, though William Gass--and author who I enjoy very much--has was influenced by Gaddis. But the Taylor interview provided a chance to seek out (if not superficially) Gaddis. I found this 1954 piece,

'Stop Player. Joke No. 4'

that I thought you might enjoy.

Life's intersects provide much potential to enrich our lives, so long as we don't cruise through the crossing without stopping.

2 comments:

nice said...

Erratic action in the futures today...

Lifeco's getting pounded...

I see many people who are down a lot still going back into stocks on margin - some even buying 2 bit mining stocks on credit cards of all things...

This kind of risk taking by retail investors has been happening all during this decline...
This is why we have not had a MAJOR bottom yet - as major bottoms don't occur until all these people are flushed out of the market.

Take a look at the major blogs and look at the kind of stocks people are buying - not blue chips - but junk - or a spec' play on commodities rebounding - or triple longs - or else they are permashorting.

ALL high risk plays at this point.

As long as everyone is talking about a bottom - we don't have one... simple as that

---

However this is options week..
And perhaps this 'gamble' will work out for these traders - and I hope it does - as I don't like to see so many people losing money (and a lot has been lost)

But I ask - what happened to simple risk control?

And for investors why didn't the financial planners have some plan to sell out their clients if X Y or Z happened?
Rather than lose 30-50% for them?

And just buying something because it is down x% is not a trading plan.. yet that is what I see

--

So this is options week

And I wonder what the 'play' is this week??

Seemed like they were trying to prop stocks all Fri and Today to no avail.

I guess they could break the market down again, suck people in and pull it back up again (like last Thurs).. or they could just ram it higher to force a short squeeze once the VIX jumps again..

Fact is looking at the commercials - despite trillions being handed to them - they are not putting one dime into futures.

And with all the brokers 'broken' and converting to banks - maybe options 'games' are over?

I have no clue at this point - as almost all trading indicators (other than day trading indications) provide little guidance at this point.

Paulson is speaking tonight I believe... will he throw the longs a bone?

Hank please surprise us... everyone is hurtin it seems.

nice

Leisa said...

"As long as everyone is talking about a bottom - we don't have one... simple as that"

There seemed to be some forced euphoria over the 'successful' retest of the October low. I'm just a spectator, and not an experienced one at that. But that hope of the "successful retest" needs to be dashed with impunity if there is to be a real bottom. Meaning...breaking that low..

I'm not making any bets, but am standing aside and letting the fullness of time inform.