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.
Sample:
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.
**********UPDATE**********
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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Monday, January 19, 2009
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