Talent

Fed meeting today and tomorrow as they will obviously continue to provide the easing and other additional actions for a hopeful upturn from current dismal economic scene. Between revelations of money manager disasters such as Madoff's or the suspension of redemptions by Citidel, the world is still working through the unwinding of real positions initiated on perceptions of trading talent. Cheap money with lots of lending created transactional nirvana for the trading industry and now cheap money with little lending is helping drive the value of all assets lower. Real talent tells you where to buy it and where to sell it over and over again as it nets postive returns. It never works only from the buy side.