Subprime Debt Values in a Recession
Amusing picture, via John Hussman:
Monday, February 11, 2008 | 05:27 PM | Permalink
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Comments
Did you know Einstein wasn't all that great in math (reletively speaking lol).
Einstein had a lot of help from his mathematician friend Marcel Grossmann.
Posted by: red95king | Feb 11, 2008 5:37:48 PM
Einstein was referring to German subprime, so it won't matter here. That is how permabulls would rationalize it :-)
Posted by: bt | Feb 11, 2008 5:44:55 PM
Actually the formula expressed on the chalk board is approximately what was actually done!
Posted by: Ross | Feb 11, 2008 6:04:36 PM
Einstein's miracle of compound interest working both sides of the equation, the up as well as the down.
Posted by: Stormrunner | Feb 11, 2008 6:44:09 PM
V = 0 ?
Lucky cookies!
Imagine if V < 0?
Ouch!
Posted by: Francois | Feb 11, 2008 8:30:38 PM
http://www.hetemeel.com/einsteinform.php
There's also one for church signs.
Posted by: Rich Lather | Feb 11, 2008 11:21:47 PM
Oh come on. It doesn't take a genius to figure THAT out!
(:
Posted by: DavidB | Feb 11, 2008 11:54:48 PM
The underlying asset will always determine the value of the financial instrument. Even if the house falls down, the land is worth something. My guess is $.25 - $.30 on the dollar as a ballpark to the loan value. Wait a couple of years (2010) and walk into your local bank. By that time they will realize the "value" of these properties and be happy to talk to you.
Happy investing.
Posted by: Bob Misko | Feb 12, 2008 1:57:14 PM
Hey Bob Misko was my principal
and he took me into his office and made me play with his penis
it smelled really bad and it was really hairy
then he made my penis hard and he put his in my butt hole
Posted by: Dingus | Jun 10, 2008 8:26:58 AM
I Have an extremely small cock
but i get good action with the fat ladys because they can't even see it over their rolls! ;)
I did your mom and raped your fgathers hairy asshole!
To.....BOB
Posted by: Kyle Lee Warner | Jun 10, 2008 8:30:24 AM
