#8703285, By Concrete This is starting to get a little scary

  • Concrete 16 May 2012 15:00:36 561 posts
    Seen 7 hours ago
    Registered 12 years ago
    whatfruit wrote:
    Really great article written before the crash by Rauhuram Rajan former cheif economist of the IMF for the national Bureua of Econoic Research if anyone is interested. This paper got him pretty much blacklisted from Federal Reserve functions and dinners.

    although its not conclusive it does provide a good background of how we got here and some of the behavior of the larger finiacial instituions.

    http://www.nber.org/papers/w11728.pdf?new_window=1
    Very interesting read, havent finished it yet, but will do so tonight. A particular snippet I liked was:

    "there is very little systematic evidence that past performance in financial investment is an indicator of future performance"

    Which translates as "basically they are gambling".
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