Disclaimer. After nearly 40 years managing money for some of the largest life offices and investment managers in the world, I think I have something to offer. But I can't by law give you advice, and I do make mistakes. Remember: the unexpected sometimes happens. Oddly enough, the expected does too, but all too often it takes longer than you thought it would, or on the other hand happens more quickly than you expected. The Goddess of Markets punishes (eventually) greed, folly, laziness and arrogance. No matter how many years you've served Her. Take care. Be humble. And don't blame me.

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Friday, November 4, 2011

The Domino Effect

An excellent summary of the way the interconnections in Europe make it far more than just a Greek problem.

But finally the ECB starts behaving like a real central bank, and cuts rates.  Not be enough, and too slow, but better late than never.

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