Re: Credit Default Swap (CDS) - Lehman Final Results In

[David Farber <dave () farber net>]

Begin forwarded message:

From: "Michael O'Dell" <mo () ccr org>
Date: October 23, 2008 9:05:52 PM EDT
To: dave () farber net
Cc: bkoball () well com
Subject: Re: [IP] Re:    Credit Default Swap (CDS) - Lehman Final  
Results In

File this under the heading of "Fool me twice..."

Dr. Myron Scholes, Nobel Laureate for his work with Dr. Black
on options pricing and co-founder of LTCM, previously the biggest
blow-up in history, is the Chairman of yet another hedge fund
which is now shipping water faster than Niagara Falls.

it strikes me that the phrase "theoretical economist"
(eg, Drs. Black and Scholes) makes about as much sense
as the phrase "theoretical sex therapist".

        cheers,
        -mo

David Farber wrote:
> Begin forwarded message:
> From: Bruce R Koball <bkoball () well com>
> Date: October 23, 2008 2:57:21 PM EDT
> To: David Farber <dave () farber net>
> Cc: ip <ip () v2 listbox com>
> Subject: Re: [IP] Re:    Credit Default Swap (CDS) - Lehman Final  
> Results In
> and the failure of Black-Scholes was at the center of the Long Term
> Capital meltdown, yes?
> -brk-
> -------------------------------------------
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