We're not sure quite what's in the drinking water over at Portfolio but we want some! Yesterday Portfolio made the collapse of Bear Stearns into a graphic novel. The comic book version focuses on the "run on the bank" and the bailout/sale to JPMorgan Chase. We just wish they had put a bit more about bridge tournaments and smoking in the boys room. After all, if people had confidence in Bear Stearns management, there never would have been a run on the bank to begin with.
The Bear Trap [Portfolio]
Bear Stearns: The Comic Book
Posted by John Carney, Jun 17, 2008, 10:05am
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Posted by guest , Jun 17, 2008 10:19AM
Hey Carney.....when you gonna disconnect from Bartiromo. These pseudo-intellects and their politcals on soapbox are not addressing the sites-subject anyway, nothing unusual here.
Posted by guest , Jun 17, 2008 10:25AM
Nassim Taleb got a $4mn advance for his next book. I wonder how much of it will be dedicated to Bear. I can hear it now, fat tails, steady profit leading the firm more and more perilously close to the knife's edge. I guarantee he'll have a line in there saying "Bear Stearns even had the temerity to have the motto 'Never an unprofitable year' and they never did have an unprofitable year right up until the year they blew up...." then he'll rail against, normal distributions and inferential reasoning. He'll definitely quote whatever Bear said it's VaR was at the beginning of 2008 and how much value they actually destroyed that fateful weekend in March. Then he'll draw a link between Caynes love of Bridge and how the odds in bridge are finite and not really random at all and how Cayne fell victim to the "ludic fallacy".
I should just offer to write it for him for 10% of his advance.
Posted by guest , Jun 17, 2008 12:28PM
very nice 10:25!
Posted by AJ , Jun 17, 2008 1:30PM
@10:25, you forgot to throw empiricism in there