Thursday, 9 October 2008

Today's Favourite Blog

FT alphaville is consistently good value, as is The Big Picture. I like Alea and frequently value the insights of IBEX salad and The London Banker. Calculated Risk is OK on real estate (if sometimes misguided away from it) and Paul Krugman is the man in many regards. Long and Short Capital is amusing, and Dealbreaker is good for gossip. But despite all this linky goodness, the site of the day has to be Sad Guys on Trading Floors.

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2 Comments:

Blogger Charles Butler said...

Thanks for the tout. We're flattered.

With regards to your previous MOAB piece, from a pretty innocent viewpoint there shouldn't be any difference between supporting paper with value predicated on mortgage repayment/collateral value and underpinning the mortgages themselves one by one, and the social benefits would be far preferable, thinking of saving communities and the like.

Among the problems would be that 'social' is typcally used as a prefix to the qualify perjorative 'ist'.

CB

7:35 pm  
Blogger David Murphy said...

Not at all - my pleasure.

You say:there shouldn't be any difference between supporting paper with value predicated on mortgage repayment/collateral value and underpinning the mortgages themselves one by oneWell, that rather depends. If you carefully mod the mortgages and only foreclose when necessary, possibly reducing some principals in exchange for equity stakes in any eventual home sales, then it might end up costing far less than just blindly buying the paper. So I would suggest that even if you did not want to save the community (although goodness knows why you wouldn't), you should still go after the underlying mortgages rather than confining your intervention to the ABS markets.

10:26 am  

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