In bygone days, when a family tree was a ticket of admission to the National and most spectators knew a martingale from a bridoon, harness and saddle horses held the audiences .
Anyone who knows a martingale from a bridoon knows that show jumpers are seldom good mounts for the hunting field, that not one steeplechaser in 100 is fit to enter a show ring.
Why Warren Buffett Called The Fed 'The Greatest Hedge Fund In History' In a world in which all the matters is "scale", the ability to Martingale down on losing bets as close to infinity as possible (something which JPMorgan learned with the London Whale may not be the best strategy especially when one can't print money out of thin air), and being as close to the Fed's Heidelberg rotary printer as possible, it was expected that that "expert" of government backstops ...
Sept. 22, 2013 - Business Insider
Warren Buffett: "The Fed Is The Greatest Hedge Fund In History" In a world in which all the matters is "scale", the ability to Martingale down on losing bets as close to infinity as possible (something which JPMorgan learned with the London Whale may not be the best strategy especially when one can't print money out of thin air), and being as close to the Fed's Heidelberg rotary printer as possible, it was expected that that "expert" of government backstops ...
Sept. 22, 2013 - Zero Hedge