"The wolf thought to himself: 'What a tender young creature! what a nice plump mouthful.-- she will be better to eat than the old woman. I must act craftily, so as to catch both."
The Brothers Grimm, Little Red Cap
The Wall Street wiseguys are shoving the Groupon IPO out the door tonight I hear.
It *could* do well, but it strikes a kind of a chord for a high water mark in the post 2008 equity echo bubble. But I have found it useful not to underestimate the reckless disregard of the US financial system and the Fed for the overall economy. So we may see this bubble higher to a crescendo. The real prize is Facebook.
I consider this a dangerous market, highly event driven and thin of substance. Kind of like Obama and the rest of the Republican hopefuls.
I have heard from a number of people, including some fund operators, of the heartache this MF Global situation is giving to them in the form of bounced checks and busted positions. It is disgraceful. But that is getting to be a tired, overused word in these times of general breakdown of equal protection under the law and regulations.
