Wednesday, April 09, 2008


N+1 interviews an anonymous hedge fund manager about the subprime meltdown. It's clear within 5 minutes of reading this article that this guy is competent, because he's willing to say what he doesn't know, because he's willing to go against consensus opinion because it's the consensus and is therefore fully realized news, and because he ditched the TVs set to CNBC.

He also makes a number of good points about why Bear Stearns sold out (Treasury probably strong armed the execs) and discusses the importance of speedy shake-outs of bad assets in avoiding a repeat of the Japanese zombie bank situation.

Previous interview with the same person.

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