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Write-Offs: 04.11.11

$$$ “The one group of people who have avoided their fair share of blame in the credit bust are the pension fund managers who invested these absurd vehicles at the tail end of the boom. What the hell were you thinking? Rather than a class action by you against JPMorgan, you should be the recipients of class action suits by your own investors. Of all the fools out there, you are surely the worst.” [Fortune]

$$$ Falcone-backed telecom tests IPO waters [Reuters]

$$$ Depressed Traders Make Bad Decisions [FINS]

$$$ The man who predicted Japan’s tsunami (spoiler alert: Dennis Gartman gets no credit) [WSJ]

$$$ Best Currency Forecasters Say Dollar Weakness to Persist as Fed Stimulates [Bloomberg]

$$$ Warren Buffett Seal of Approval Goes To…Wells Fargo Bankers? [Deal Journal]

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7 Responses to “Write-Offs: 04.11.11”

  1. trojan says:

    LightSquared IPO = interim top

  2. trojan says:

    LightSquared IPO = interim top

  3. Guest says:

    Yea no shit, it’s called tilt.

  4. Commenter With Clarity says:

    Bess, I think I love you. Or at the very least have strong feelings for you.

    You, complete, me.

  5. Covey 01 says:

    Pension fund managers could not find a bright idea even if it smacked itself in their face. Face it, the majority have a herd mentality focus and very few are willing to lead the way. That is why they are for the most part depressed and make bad decisions.

  6. Ole Eddy says:

    “Rather than a class action by you against JPMorgan, you should be the recipients of class action suits by your own investors. Of all the fools out there, you are surely the worst.”

    Yes. Indeedy.

    The root cause of all of these market blow-ups is bad institutional investors. If the pension funds didn’t buy the scame, the scam wouldn’t be very important. So long as the real fiduciaries (ie the trustees and sponsors) are not burdened with the liabilities a real fiduciary should bear, this will continue. By all means, let somebody put a big effort into a test case suing some of these guys, and try to get some real precedents set.

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