I play my part in major a non-profit performing arts center and even the peeps around here are whispering about dents in their respective portfolios.
Little do they know I’m the oddball out with a degree in Applied Economics, not Comparative Literature or Theatrical Performance, so I’m a tad conversant on the subject. And… and this news changes nothing.
Big banks will still arbitrage markets until the only thing left to exploit is the collateralized fund of street art they purchased from a shady Rio holding company after six rounds of bourbon at a clandestine dining club. And companies whose revenue streams are driven by ancillary components, i.e. Facebook, will continue to revel in their own overvaluation.
But I know nothing. I’m penniless.
«Leafs through tattered copy of Malkiel’s A Random Walk Down Wall Street.»