Perhaps this is a sign of a market bottom.
The hedge fund/subprime/CDO woes have gotten so bad that a YouTube artist calling himself Merle Hazard has set this mess to music. Inspired by Tammy Wynette's classic song "D-I-V-O-R-C-E", he has written "H-E-D-G-E", a melancholy ode to all that has gone wrong with the market of late.
Here are the lyrics:
Financial markets are global, every continent on earth.
But it's still real hard to trade a put or a swap when you don't know what they're worth.
I bought a couple mortgage-backed CDO's and then the prices took a fall.
Now I'll spell out what happened when I got my final margin call
My H-E-D-G-E F-U-N-D went bankrupt today.
Goldman S-A-C-H-S took my funding away.
I was leveraged 10 to 1 but it should have been 2 or 3
Oh how I wish I had a workin' H-E-D-G-E...
This guy is classic, and I hope he'll be back with more.
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Reader Comments (Page 1 of 1)
8-16-2007 @ 9:09PM
Charles C. Glover said...
If you have a million dollars to invest, as I do, why not just put it in an interest drawing checking account. A normal person can live on the interest without messing around with the stupid stock market. The stock market is for two groups of people, the smart and the ignorant. The smart ones live of the ignorant ones. Since I am not smart, I refuse to be stupid also,