European woes

This is not new. This is not news either. We have known for months that France will be downgraded. We have known for even longer that the PIGS are in deep shit. And Italians are in a bigger trough, of poo, with or without Silvio.

Yet why do markets plunge last Friday because of the actual downgrading? And then rise again today? Fuck if I know, to put it mildly. The only profession one should get in at times like this is to be the broker. Who cares which way it moves, as long as there is a transaction and you make the commission. Best if there are LOTS of transactions.

In the meantime, POG and POI are steady. And as long as I can collect alphas, I don't care what the market is doing in the short term.

To put it in a simple language, the average investors in financial funds and institutions get screwed by those idiots who play around with their money and get paid handsomely. What a nice world! You will notice that the markets all seem to move in unison, in waves. Am I the only contrarian left?