Birds of a Feather Ride Together

If I were a CEO, or someone of influence in an investment group, and thought to myself that there should be large amounts of hedging to no investment in risky securities, I probably would not have a job right now.

And I mean that as a serious thought.

Posit for the moment that even men like Peter Schiff receive countless second guesses from a large swab of their own investors and clients.  And Peter Schiff was right about a huge amount of what is going on in the financial world right now.

Therefore, to think that somehow two years ago people would have rewarded and sought the leadership of a person who explained and practiced the importance of risk hedging and who didn’t put all their money into mortgage backed securities seems laughable.

Whoever was not riding - or not wanting to ride - the mortgage train to richville (which ended up being a slum) was escorted out of the station long ago.  That is to say, other than the minute population of Peter Schiff and his like, there is no one in the industry right now who could have steered us away from our current economic predicament.