When Words Bite You In The Ass: John Devaney
We hate to kick a man when he’s down, and on the brink of homelessness, but we haven’t been this grateful for the existence of the internet since we discovered the Cats ‘n Racks section of Cuteoverload.com (hat tip: James Simons). Soon-to-be former yacht/ski lodge owner John Devaney, whose United Capital Markets Asset Management restricted investor withdrawals after some bets didn’t exactly go as planned, booked a 30.4% loss for June, and is expected to match or exceed those losses in July, had some interesting things to say about subprime bonds (of which he is a victim) at the ASF 2007 conference in Las Vegas last February. To wit: “I personally hate subprime—and I’m kind of hoping the whole thing explodes. You are just dancing on the edge of a razor blade. They just fall off a cliff. They are awful investments.” Ah, well. Hindsight—it’s 2/20. (I’ll be here all day—meaning I’ll be here ‘til 1).
Anyhoo, let's do a poll: