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May 24, 2007
Alan Greenspan, Market Slayer
My friends at CNBC's On the Money have a hilarious post on Alan Greenspan's newfound penchant for clear speech -- at least so long as he talks down a market somewhere:You really have to wonder what's going on with Greenspan. For decades he spoke in Klingon mixed with oddly timed clicks and hoots, took his baths each morning and played tennis.
Now he's a world-class bomb thrower striping billions in equity away from markets with mid-day riffs on things he's shown no accuracy on before. These China comments may very well turn out to be true. Then again, they may not. Mr. Big Stuff has not shown any abilty to be a predictor of markets in the past, so there's no real reason to think he's got it right now.
We're how many thousand points higher since 'irrational' whatever he was worried about? And let's not forget, he has a job now where he advises one of the most powerful bond companies in the world; he's got skin in the game, a vested stake in the outcome of the trade. So next time he opens his mouth, ask yourself before you react, who is he really trying to help?
Here's how our duo 'Fear and Greed' broke it down last night:
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I know, it's so frustrating. Trust me, have been trying to get them to go Brightcove, etc.
Greenspan needs to keep his trap shut. He knows exactly what is going to happen when he spouts off like this. There should be a gag clause for former fed chairman.
Greenspan is a Pimco soldier now, Bill Gross the Bond King and extremely savvy market player is calling the plays in, Patrick Kerr of Oil Gas Futures
As Greenspan's comments and the market's reaction to them wear thin the savvy will profit from them and someone will write the definitive Greenspan-killer column/post. This Ka-ching isn't it but it is coming, could appear there.
Where's my comment, which didn't violate any ethical/professional conduct? I used to think you're one of a few decent bloggers out there. Not anymore.
Only spineless cowards refuse to hear and/or to show differing arguments on their blogs. Open-minded professionals, like Herb Greenberg, never turned off any comments, even if some of them were unfair slanders against him.
I thought with your Ph.D you should know better, and be more objective. I was so wrong. No wonder Mark Twain said: "I have never let my schooling interfere with my education." You obviously had schooling.
Huh, what comment?
"I thought with your Ph.D you should know better, and be more objective."
Wow. Just wow. That is so remarkably obtuse it's frightening.
Everytime I try to load the video, it crashes my browser -- IE, Firefox.
What a frickin' disaster CNBC video can be . . .