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Bond markets and pythons

by das monde Tue Mar 16th, 2010 at 12:18:22 PM EST

Reading a NY Times review of Michael Lewis's new book "The Big Short: Inside the Doomsday Machine" on the few winners of the financial crisis, I was struck by the following quote from the book:

An investor who went from the stock market to the bond market was like a small, furry creature raised on an island without predators removed to a pit full of pythons.

That it one of the most picturesque descriptions of predator vs prey environments I saw. How extreme is the bond market, really? What are the global populations of bond pythons and wannabe furry animals? Aren't bond traders those investors who fatefully evaluate fiscal policies and set credit terms for all governments? I recall the following quote of Bill Clinton's top advisor:

I used to think if there was reincarnation, I wanted to come back as the President or the Pope or a .400 baseball hitter. But now I want to come back as the bond market. You can intimidate everyone.

Does anyone here have experience in that ecosystem?

"Vanity Fair" gives a lengthy excerpt from Michael Lewis's book.
by das monde on Tue Mar 16th, 2010 at 12:21:52 PM EST

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