Tuesday, July 27, 2010

The errors were the things they did in the good times

But we could talk about mistakes. The mistakes of commission generally don’t take place in a crisis. They are the things that causes the crisis, the things that you do in a run-up, the bubble years. I think that’s true of most everybody in the financial market. The errors were the things they did in the good times.

Diary of a Very Bad Year: Confessions of an Anonymous Hedge Fund Manager

***
Follow us on Twitter.
Subscribe to My Investing Notebook by Email. No more than one message per day.