[lbo-talk] Tooth fairy for dummies WAS Re: Markets and the tooth fairy

Michael Pollak mpollak at panix.com
Thu Jul 31 15:44:48 PDT 2003


On Thu, 31 Jul 2003, budge wrote:


> > true: how much would you pay (today) for your opinion to be right?
> > The market has shifted since Brad posted
>
> the market has 'shifted'?!?! -- i heard on the way to work this AM he
> was gone...

Indeed:

<quote>

Washington Post

Thursday, July 31, 2003; 4:07 PM

Poindexter to Leave Pentagon Agency

Retired Adm. John Poindexter will leave his post as director of

the Defense Advanced Research Projects Agency amid controversy

over a futures trading analysis program to predict terrorist

attacks. The Post's Bradley Graham talks about the project and

Poindexter's role.

http://www.washingtonpost.com/wp-srv/mmedia/nation/073103-6s.htm

<quote>

Now here's the question: this market has existed for two days; and during that time it was dead, as Jordan has so clearly explained. It never had a full transaction. All it did was translated the obvious prevailing belief into market arcana.

Any bets as to how soon this too will be cited as an example of the market's genius?

Michael



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