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July 11, 2005

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Edward Teague

"Greedy bastards make millions"....also reads (at times) "Greedy bastards lose millions."

It's not a one way street. Anyone with a pension had a fund manager taking the opportunity on their behalf to be a "greedy bastard".

Andrew McGuinness

I think the point on Thursday morning was that everyone (including traders) feared that the attacks would be much more damaging than turned out to be the case. The sellers were betting on follow-up attacks, the buyers were betting on no more. By noon or so, the situation was clearer and the buyers had won their bet.

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