A Cup of Tea Without Milk, or Sugar, or Tea

Posted by Equity Private, Apr 04, 2008, 9:29am

What happened to real crashes? I mean real crashes. When I was your age a financial crisis was a financial crisis. Kids today, they'd just never believe you if you told them about the Crash of '87, or LTCM. Today a hedge fund loses $6 billion and nothing happens. A nine decade old Wall Street mainstay collapses, banks write down $300 billion and people barely sneeze. VIX? Tradeable volatility? If we wanted volatility we'd walk home barefoot on broken glass and tell mom about dad's secretary's midnight call. We were lucky if we even had trading volume data back then. Yeah, we had chaos, but we were happy, I tell you.


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Comments

Posted by guest, Apr 04, 2008 9:44AM

Totally agree - it's liek that Peggy Lee song Is That All There is to Financial Meltdown?

I guess, let's keep dancing?

Posted by guest, Apr 04, 2008 9:46AM

What were you like 8 years old in '87?

Posted by guest, Apr 04, 2008 9:49AM

Bravo.

Posted by guest, Apr 04, 2008 9:50AM

Was that a Monty Python skit?

Posted by guest, Apr 04, 2008 9:50AM

She's 40+ isn't she

Posted by diablo, Apr 04, 2008 9:52AM

How old are you EP?

Posted by guest, Apr 04, 2008 9:52AM

@9:50-- warmer.

Posted by guest, Apr 04, 2008 9:59AM

Yea...Hollywwod bowl live. Funny stuff.

Posted by NotNasser, Apr 04, 2008 10:11AM

Classic Python. Can't get enough. Thanks.

Posted by guest, Apr 04, 2008 10:36AM

Most equity people have it in their minds now that if they just hold on it will all be fine and that no matter what happens, it never really gets bad after all (and this is why their debt is so high - they've lived a charmed existence and most don't remember the depression stories). That, along with too much slushy money available to pour on the fire keeps valuations up. Maybe they will continue to be lucky but there's a big disconnect between the equity and credit markets and my respect for most equity players has deteriorated radically in the last year.

Posted by guest, Apr 04, 2008 11:11AM

@10:36 - I think the larger point isn't just that they don't remember the depression, they don't even remember the 70s and 80s.

Posted by guest, Apr 04, 2008 11:30AM

I remember when the Dow hit -1000. Now that was hard times.

Posted by guest, Apr 04, 2008 11:36AM

i was 6 in 1987. i'm proud of that.

Posted by american bandersnatch, Apr 04, 2008 12:37PM

ep's gotta be around 40. Anyone who references "they live" in their blog isn't going to be 24. But the mere fact that she's into monty python and bad sci fi movies seriously increases her hotness quotient.

Posted by guest, Apr 04, 2008 12:42PM

levin was 3 in '87...she's not allowed to weigh in either.

Posted by guest, Apr 04, 2008 12:54PM

right. liking sci fi has always been a hallmark of hot chicks.

Posted by american bandersnatch, Apr 04, 2008 1:08PM

Rarity increases value.

Posted by guest, Apr 04, 2008 1:13PM

assuming her resume in her little faq section is even vaguely correct with respect to timing; her fortune 500 corp dev internship preceded her pe job, so it sounds like the pe job was her first major after mba. that seems to be 2005. graduates undergrad at age 21, master's degree (though I heard the rumor she really has a JD) say two years, three for the JD, 23-24, mba with no work experience (is that likely?) puts her at 26 on graduation, if thats around 2005 then shes 29 or so today? 31 if you add a pair of work experience years before the mba. or she went straight for the JD/MBA (if that rumor is true) and didnt need the work experience (if you apply to law first you dont) and saved a year in the joint program.

by the way, i am 27 and i love "they live" for whatever that is worth.

now that i notice it, did anyone else figure that this;

Hit on by (and invited back to the home of) Vice-Chairman of bulge bracket investment bank in dark, quiet
corner during Manhattan charity fundraiser. Leveraged “soft-skills” to avoid awkward situation and limit any
potential dilution to expected social capital returns. Saved by semi-famous District Attorney’s timely arrival.
Hit on by semi-famous District Attorney in dark, quiet corner during Manhattan charity fundraiser.

from her resume is probably spitzer? her resume was posted almost a year ago. timing fits. creepy.

Posted by american bandersnatch, Apr 04, 2008 1:18PM

Nice analysis. I stand corrected on the rowdy roddy piper fan demographics.

Posted by guest, Apr 04, 2008 1:47PM

Tell Carney when he gets back that he should get Monty Python to start writing for DB. We need some serious financial analysis around here, for a change.

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