This page has been archived and commenting is disabled.
Barton Biggs Claims on CNBC He Is No Expert In International Financial System
With Traxis' results of -31% in 2008 and -5.71% in January, one would allege that Mr Biggs is merely an expert in leveraged piggybacking to a bull market.
- 1266 reads
- Printer-friendly version
- Send to friend
- advertisements -


"...one would allege that Mr Biggs is merely an expert in leveraged piggybacking to a bull market."
BINGO!
I am probably "singing to the quoir" with the observation that many of the "Gurus", economic and market, are nothing more than trend followers. 10/15 years ago we heard a lot about the Merton & Scholes models. These worthies were awarded a Nobel prize for mathmatical models in pricing derivatives. Then both joined the BOD of Long Term Capital Management. Lowenstein wrote a book about that episode. Less well known, if the the FED had not provided liquidity, the collapse would have taken down "The Chase".
I am just an engineer. "What do I know? But I do know that stastics can be a completely reliable predictor in a series of random events. And I have been exposed to enough Greek so that I can muddle through most of the economic papers using statistical analysis if I really, really have to, at least sufficient to observe that most of the content is trend projecting.
But, dice rolled do not communicate with each other. A coin flipped 100 times has no memory of how it came up the last time. Papers that don't deal with this put me to sleep pretty quick. If it isn't correct, it isn't worth wading through.
How is it possible that learned people in the financial community do not realize that man is a remembeing, communicating, hurding, emotional animal? And, how is it possible that the smart, wealthy people that embrace this practice don't see the fundamental flaw in basis.
Thanks for the art. Art is Art, it speaks for itself.