Archives of “disdain” tag

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A Trade or a Gamble?

  
  Education
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I love to trade a lot – which is of course a euphemistic way of saying I love to gamble. Although I have been to Vegas more than a dozen times I never laid down so much as a dollar bet in any casino. I have absolutely no interest in backjack, craps, slot machines or any other games of chance and I look down with disdain at the excited masses crowding the cavernous Vegas gambling halls. But deep down, if I am honest with myself, I have to admit that whenever I trade a lot I am just as much of a sucker as every hopeless loser that gives up his hard earned money to Steve Wynn or Sheldon Adelson

If you are constantly trading just for the sake of trading, just for the rush of being “in the game”, just for the momentarily thrill of being right you are gambling. You are trading without an edge, without any solid information and are therefore completely vulnerable to the random vagaries of price. (more…)

This Anti-Wall Street Film Isn’t Just for Michael Moore Fans

  
Analysis, Education, Video
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Independent filmmaker Danny Schecter would like to remind Wall Street that the disdain for bankers “is not coming from a bunch of lefties in some basement in the East Village. It is coming from mainstream America.”

Schecter hopes such mainstream angst can propel his latest film, “Plunder: The Crime Story of Our Time,” into the big leagues. Filmed on a budget of less than $50,000 and based on his book of the same title, the movie traces the roots of the financial crisis from the home owners who defaulted on their mortgages to the Wall Street banks loading up on mortgage investments.

The film sounds like the many books and made-for-television movies about the crisis. But Schecter, who has worked at ABC News and CNN, promises that his narrative is different because it approaches the subject like a crime story, not a mere financial story. (more…)

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