Efficient Markets

I couldn’t help but notice on Friday that Freddie Mac’s stock ticker looked like this: Take a look at the chart for a sec.  It closed the previous day at $8.  It opened at about half that, $4 – or a 50% plunge.  Then it rose steadily throughout the day to down a mere $0.25… Continue reading Efficient Markets

Fireworks & Rooftops

Last night’s fireworks were a bit of a disappointment for those in Manhattan.  A combination of rain and wind conspired to blow all the smoke from the detonations towards us – and obscured the fireworks.  However, there was one amazing sight: the image of hundreds of people on their rooftops holding umbrellas as they strained… Continue reading Fireworks & Rooftops