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This Weekend on the Wall Street Journal Report I talk to: Austan Goolsbee, The University of Chicago — Booth School of Business
Former Chair of the Council of Economic Advisers on JP Morgan’s two billion dollar trading loss. House Speaker John Boehner on the election, America’s debt, and Randy Cohen, longtime author of The Ethicist column on business ethics and resume falsehoods following reports that Yahoo!’s CEO misrepresented his academic background. Check your local listings for broadcast times. +CNBC #WSJR #WALLSTREETJOURNALREPORT
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A Hedge is an offset transaction not a shub as depicted by Jamie Dimon! You have $1. You future sell it for $3 and collect $2. In the future if it is $3, you deliver it even if still $1 paying $3 or losing on the hedge but even on the $2 you collected. Should you buy instead of selling when you have the $1, you are a gambling speculator and can lose twice like JP Morgan did for a couple Billlion. Remeber Phibro trading was Jamie's metoer with Sandy. #1 Gambling speculator in Citigroup.
Jamie Dimon could have maintained a degree of credibility if he stated the fact that they took a risky naked gamble and lost! There was no hedge trade off to temper the loss.
Stick to wealth management, where you get to collect the Mullahs from your unsuspecting clients regardless of performance. If you will insist on playing the market with your our money, sooner or later you will have to incur losses....JP Morgan, if you can't even make money with all the traders you have , how do you expect us to trust our money to one of your money consultants with our own cash??!!
Enlighten us please, Maria , maybe you have an answer.
Just watched the John Boehner interview_ I think he has an alcoholism issue.... he appeared to have a hangover_ appears to be a heavy drinker?