Bridgewater quant guru and author of A Demon of Our Own Design, Rick Bookstabber, has found an unexpected role in this curious take on Dr. Seuss' The Lorax. Enjoy, courtesy of The Nervous Breakdown.
The following week my newest sensation
was an exchange-traded product based on inflation.
I was tireless in my creative formation
of new instruments that needed translation.
My epic was collateralized debt obligation
though I also showed off my inventive chops
with a little something I called credit default swaps.
I meant no harm. I most truly did not.
But I had to grow bigger. So bigger I got.
I securitized mortgages and credit card debt.
I securitized insurance. I securitized Tibet.
We have learned that Bookstabber (that name is almost as cool as that of the Artradis Barracuda fund we profiled earlier) is no longer at Bridgewater.
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