Gekko

THE President was absolutely right, by the way, when he said that the Lincoln bedroom was never for sale. In fact, you got it for free when you bought the Oval Office.

At the beginning of this month the bottom fishers we were talking about at the beginning of the year began to find out what the problem is with their investment technique: figuring out where the bottom is. You may recall that in January we talked to a couple of hedge-fund people who were going into Thai stocks on the theory that the smart thing to do in the new era is to buy the dips. The Thais, charming as always, obliged them. They were taking the cash that the brave foreigners were willing to put in and changing it into Singapore dollars, which the bottom fishers might have noticed were fetching unusually low interest rates as the safe harbor in the region looked safer and safer compared to its neighbors. Well, trading in the financial stocks was suspended on the first business day in March, which might make it a little difficult to come up with a valuation for those ever-challenging quarterly reports.

JD

About the Author

John Dizard

Featured Tags

THE President was absolutely right, by the way, when he said that the Lincoln bedroom was never for sale. In fact, you got it for free when you bought the Oval Office.

At the beginning of this month the bottom fishers we were talking about at the beginning of the year began to find out what the problem is with their investment technique: figuring out where the bottom is. You may recall that in January we talked to a couple of hedge-fund people who were going into Thai stocks on the theory that the smart thing to do in the new era is to buy the dips. The Thais, charming as always, obliged them. They were taking the cash that the brave foreigners were willing to put in and changing it into Singapore dollars, which the bottom fishers might have noticed were fetching unusually low interest rates as the safe harbor in the region looked safer and safer compared to its neighbors. Well, trading in the financial stocks was suspended on the first business day in March, which might make it a little difficult to come up with a valuation for those ever-challenging quarterly reports.