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|User Info||Koolaid iditots; entered at 2007-12-02 18:11:49|
Registered: 2007-08-27 Seattle, Zootown
Robt, I've been reading this site for a few months... basically since KD put the word out on the CFC BAC deal. The main thing I come away with is that KD is preaching one singular focus, one thing and ONE THING ONLY: Risk Management. The rest is just implementation. So to address risk, you have to address what you DON'T KNOW. You try to fill in the blanks, and KD is coming out and saying: "Hey, here's what we don't know, if you're long then this is the issue that's going to kill you. If you're short, then THIS issue is mostly likely the thing that's going to kill you."|
So, to come on here and drop the guy for pointing out to people that there is possibly some VERY BAD NEWS in numbers we can't know (but can guess at)... you're just missing the point. Hiding and mispricing risk is what got us in this whole problem in the first place! AND in this specific case, Wamu is one of those ****ers that carry huge Pay Option portfolios that are booking deferred interest payments as earnings! Holy ****, I can't believe you would try to lay claim that KD is alarmist or building a cult, when you can look at the ****ers running Wall St for comparison!