Monday, 30 May 2011
Masters of Destruction
I understand the Zero Hedge like a TV viewer would understand the weather report presented in binary Doppler radar data.
But just as Bob Dylan said " you don't have to be a weatherman to understand which way the wind blows" , you don't have to be Mark Mobius to understand bets on an outcome that are worth ten times the outcome are going to leave at least half the bets on the floor.
"The total value of derivatives in the world exceeds total global gross domestic product by a factor of 10, said Mobius, who oversees more than $50 billion. With that volume of bets in different directions, volatility and equity market crises will occur, he said."
Every day a master of the universe predicts the end of the world, not a good sign.