Thursday, October 23, 2008

Paul kedrosky: Fear clouds from CNBC. Fear and Greed

1 comment:

Anonymous said...

It starts with a good idea that yields spectacular returns, attracts much money and generates great wealth for those at the top. With so many people doing the same thing, investment returns decline, as do ethics and the quality of financial reports.

Then come the scandals, the lawsuits and the rush for the exits, followed at times by convictions or regulatory settlements.

We've seen it before with railroad stocks, junk bonds, third-world debt and tech stocks. Now it's happened again -- with hedge funds.