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JosephFrank
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Article that explains what is happening

September 18th, 2008, 6:59 am

I am trying to figure out a good article that explains what is happening in the market now as well as the impact of government intervention on theUS market. Can you recommend any?
 
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daveangel
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Joined: October 20th, 2003, 4:05 pm

Article that explains what is happening

September 18th, 2008, 7:47 am

there are many points of view not many coherent. Some distance (in time) from now will be a good place to examine this crisis. for the time being its just survival.
knowledge comes, wisdom lingers
 
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hayes
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Joined: July 18th, 2008, 11:24 am

Article that explains what is happening

September 18th, 2008, 1:57 pm

Agreed. In 6 months/ a years time, everything that's happening right now will be quite simple to explain logically. Best wait until then if you ask me.*leehayes81 puts down his copy of Black Swan and gets on with his work*
 
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fars1d3s
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Joined: August 14th, 2004, 12:28 pm

Article that explains what is happening

September 18th, 2008, 2:18 pm

This article on Bloomberg: Flaws in US economyThis article on al-Jazeera: What Lehman will mean
 
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TraderJoe
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Joined: February 1st, 2005, 11:21 pm

Article that explains what is happening

September 18th, 2008, 4:32 pm

QuoteOriginally posted by: JosephFrankI am trying to figure out a good article that explains what is happening in the market now as well as the impact of government intervention on theUS market. Can you recommend any?ft.com ?
 
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trackstar
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Joined: August 28th, 2008, 1:53 pm

Article that explains what is happening

September 18th, 2008, 7:26 pm

This is a recent book by Andy Lo at MIT (Lab for FE).Chapter 10 covers "What Happened to the Quants in August 2007?"Hedge Funds - An Analytical Perspective - LoFrom review on Amazon:"Andrew Lo's Hedge Funds is likely to be the high-water mark in the analysis of hedge funds for years to come. Focusing on hedge fund returns and trading strategies, risk characteristics, and potential for illiquidity, Lo brings to bear his always fresh and insightful thinking.(Richard Bookstaber, author of "A Demon of Our Own Design: Markets, Hedge Funds, and the Perils of Financial Innovation"Also, Mohamed El-Erian - from PIMCO to Harvard Management Co and back to PIMCO this year. Mohamed El-Erian - When Markets CollideFrom the FT:"Few people are as well positioned to understand markets as Mohamed El-Erian. He is almost unique in being able to attack the credit crisis from the perspectives of academic economist, policy official, investment banker and fund manager...Mr. El-Erian's insights are as valuable as ever."--Financial Times I saw both of them present the material last September. Lo is very interested (and successful) in bridging the gap between academe and industry and El-Erian is one of the best speakers I have ever seen. Room was filled with jaded pros and *many* were taking notes.
Last edited by trackstar on September 17th, 2008, 10:00 pm, edited 1 time in total.
 
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TraderJoe
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Article that explains what is happening

September 18th, 2008, 9:18 pm

Bailout Nation.
 
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trackstar
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Article that explains what is happening

September 18th, 2008, 9:46 pm

Shiller (of Irrational Exuberance fame) and Yale. This is for the mainstream audience and a good quick read.The Subprime Solution - Robert Shiller
Last edited by trackstar on September 19th, 2008, 10:00 pm, edited 1 time in total.
 
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farmer
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Article that explains what is happening

September 25th, 2008, 11:13 pm

QuoteOriginally posted by: New York Times, September 30, 1999In a move that could help increase home ownership rates among minorities and low-income consumers, the Fannie Mae Corporation is easing the credit requirements on loans that it will purchase from banks and other lenders.The action, which will begin as a pilot program involving 24 banks in 15 markets -- including the New York metropolitan region -- will encourage those banks to extend home mortgages to individuals whose credit is generally not good enough to qualify for conventional loans. Fannie Mae officials say they hope to make it a nationwide program by next spring. Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits. "Fannie Mae has expanded home ownership for millions of families in the 1990's by reducing down payment requirements," said Franklin D. Raines, Fannie Mae's chairman and chief executive officer. "Yet there remain too many borrowers whose credit is just a notch below what our underwriting has required who have been relegated to paying significantly higher mortgage rates in the so-called subprime market."
 
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Cuchulainn
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Article that explains what is happening

September 26th, 2008, 9:14 am

Good post, farmer. At the time there was a lot of movement to set up new initiatives to allow people to buy a home. But I can't remember if the stakeholders (e.g. the lawyers) considered if it was feasible. You could set up a bank for this kind of business and apply the same formula again. It sounded great (and painless) at the time.
Last edited by Cuchulainn on September 25th, 2008, 10:00 pm, edited 1 time in total.
 
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Anselmus
Posts: 47
Joined: February 27th, 2008, 8:43 am

Article that explains what is happening

September 29th, 2008, 7:48 pm

Hey guys,I am posting about the current world economic crisis since December last year (also here: short i-banks and short oil at 146). If you are interested, you can find it at my bloghttp://martinschledde.wordpress.com/I appreciate every feedback.
Last edited by Anselmus on September 28th, 2008, 10:00 pm, edited 1 time in total.
 
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cosmologist
Posts: 640
Joined: January 24th, 2005, 8:08 am

Article that explains what is happening

September 30th, 2008, 9:27 am

QuoteOriginally posted by: farmerQuoteOriginally posted by: New York Times, September 30, 1999In a move that could help increase home ownership rates among minorities and low-income consumers, the Fannie Mae Corporation is easing the credit requirements on loans that it will purchase from banks and other lenders.The action, which will begin as a pilot program involving 24 banks in 15 markets -- including the New York metropolitan region -- will encourage those banks to extend home mortgages to individuals whose credit is generally not good enough to qualify for conventional loans. Fannie Mae officials say they hope to make it a nationwide program by next spring. Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits. "Fannie Mae has expanded home ownership for millions of families in the 1990's by reducing down payment requirements," said Franklin D. Raines, Fannie Mae's chairman and chief executive officer. "Yet there remain too many borrowers whose credit is just a notch below what our underwriting has required who have been relegated to paying significantly higher mortgage rates in the so-called subprime market."Agreed that the Clinton government tried to make the marginals homeowners by relaxing the rule and lowering the downpayment, BUT, then that was the most prudent thing to do at that time. On the long run, you will have houses built and ready to be occupied,at a cheaper price. Poor and deprived people like me, would get an opportunity to own a home.
 
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cosmologist
Posts: 640
Joined: January 24th, 2005, 8:08 am

Article that explains what is happening

September 30th, 2008, 9:44 am

QuoteOriginally posted by: AnselmusHey guys,I am posting about the current world economic crisis since December last year (also here: short i-banks and short oil at 146). If you are interested, you can find it at my bloghttp://martinschledde.wordpress.com/I appreciate every feedback.I work on a oil trading desk. In "HIND-Sight", 147 was a wonderful price to sell, BUt ,then many lost their "underwear" and all, when WTI rampaged through the 130,135,140. Very few "bravehearts" had the guts to come out with a firm sell call. What to talk of Goldman's 200$ forecast and one Norwegian analyst's ""correlated forecast with VLCC rates and inventory" something like that, I have to digout the report, it was a two pager, the rampaging oil price gave heart-attacks to all. Sorry to say, but the truth is, I always find the hind-sight beautiful and sometimes, the undulating sight gives me uncontrolled adrenalin rush.Nobody was more correct than me, and nobody was more wrong than me. All happened within 100 to 147. The bottomline is everybody goes correct at some point in his life.Period.P.S.- The sight I am talking about is of the opposite sex. No confusion please.
 
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trackstar
Posts: 26738
Joined: August 28th, 2008, 1:53 pm

Article that explains what is happening

October 1st, 2008, 8:41 pm

JF - If you are still reading - here is a short article in Washington Post:The Risks that Wall Street Missed - Wash. Post Oct 1/2Short article and simple view, but if you search for VAR on the Forums, you will see more discussion/debate.
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