What, if anything, are people buying today in this 2 day selloff?, page-214

Joe - I dropped a couple of hand grenades on XJO Board last night.
This was the Intro:
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Someone said.....And So (after all, I was simply stating my experience, something experience by v. few first hand and close up)?
I replied at length , while rushing out the door...off the top of my head.
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The "Someone" never got back to me.......
I will add, I got some support (reflected by thumbs up), which was quite unexpected.....
Pls try and take the time to look, if you care to. It won't be news to you.

As for Nobelists:
LTCM....founded by Salomon Bros. refugee Meriwether (he led to their demise), and Nobelists Robert Merton and Myron Scholes, 1997 Nobel Prize laureates in economics, were among the partners - inventors of Options Pricing Model.....
They went belly up, long Russian debt, and Russia defaulted (hence the title of the book). The NY Fed Pres orchestrated a bailout by 12 NYC banks to the tune of $420M (a lot, at that time, not taxpayer funded). This fiasco led to the collapse of the Asian Tigers (and overthrow of Suharto, in power since 1965, as I recall): the impact of such events is not trivial in 1997-98. You will remember.
G/span then reduced rates to salve the wound, adding fuel to the already hot fire...further facilitating the erroneously named Internet bubble....aka The Greenspan Put.

An excellent read...Lowenstein always is:

When Genius Failed: The Rise and Fall of Long-Term Capital ManagementPaperback – October 9, 2001
by Roger Lowenstein (Author)