Saturday, June 02, 2012

A Bad Moon Rising or a Shit Storm Coming?


"Can you imagine another Lehman event?

It's just a matter of time. This financial system is completely unsustainable. The level of interconnectedness, the level of misapplied incentives is again unprecedented in history. If you were offered a game of chance where when you win, you win, and when you lose, you are given another chance to throw the dice, then, of course, everybody would play that game and essentially that is where the financial system is. That isn't capitalism. That creates distortions, misallocation of capital, and mismanagement of risk, and we are seeing it time and time again."
- Eidesis Capital's Simon Mikhailovich

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