• Welcome to AppraisersForum.com, the premier online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

Interesting artice from former Wall Streeter

Status
Not open for further replies.

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
he couldn’t figure out exactly how the rating agencies justified turning BBB loans into AAA-rated bonds.
Rating agencies should be prosecuted. I read Lewis's book. Guttfrend was disconnected from the real world. Traders with no experience, like Lewis, were telling people with millions of dollars to buy on BS. I remember one time he admitted that he took a tip from one of his collegues to buy some stock, maybe ATT. After he talked the investor into it, the stock went down and he found out his "friend" was dumping ATT at the same time. This is advice? And your 401k is depending upon jokers like this.

Another older book worth reading is "Blood on the Streets" and its about bad advice given during the dotcom bust. Great read both.
 
Status
Not open for further replies.
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at
AppraiserSites.com
Top

AdBlock Detected

We get it, advertisements are annoying!

Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.

I've Disabled AdBlock
No Thanks