agree about their misplaced confidence in their own abilities !...

agree about their misplaced confidence in their own abilities ! I see that CDO and CDM are short the major banks. When u think of the number of borrowers that are going to come off fixed interest loans and transfer to much higher interest rates, not a good idea in my book ! Sure, finance companies and brokers will get a share, but a large proportion would go back to the majors and much higher rates (and profits).
Short the banks ? Not bloody likely !!!!!! I said to myself that I would never go into an LIC at a float !
I broke my promise and now I’m paying for it. CDO MAY have potential and possibly a good divvy, but ATM it’s underwater and trading on very this all volume. Despite all the promises about shorter time frames and quicker “”bucks”, promises would seem to have performed better than the fund itself !