Quantitative Short Squeezing

As with the gladiator games in Ancient Rome, the stock market always has a winner and a loser. Having announced that a particular corporation was "too big to fail," the emperor essentially gave the "thumbs-up" to the fallen Bank of America and chose to make a winner out of a loser. At the emperor's behest, the gladiator who was defeated was given new life to destroy the one who would have defeated him. Looking at the current state of affairs, where winners and losers in the stock market may be decided by the whim of government, it's not difficult to draw parallels to the games of Rome.Investors who identified and valued the derivative mess correctly bet on banks becoming insolvent. Smart investors shorted banks and waited for them to fail. Others jumped from the sinking ship. But in a moment of haloed exultation, our emperor inadvertently chose to do some wealth redistribution into one man's account.Is this what we have become? The government is a wild card in the...(Read Full Article)

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