Hoo Haa! 

"There are some things which cannot be learned quickly, and time, which is all we have, must be paid heavily for their acquiring."

Ernest Hemingway

Charts and Table Zup!

If you play the game, you will make mistakes. If you stay in the game, you'll get an opportunity to undo your mistakes. If you let small mistakes become large mistakes, it takes you out of the game. If you ain't making mistakes, you ain't playing the game. If you play the game, you will make mistakes. If you stay in the game, you'll get an opportunity to undo your mistakes. If you let small mistakes become large mistakes, it takes you out of the game. If you ain't making mistakes, you ain't playing the game...

SHANGHAI, China -- Chinese banks are just beginning to disclose their exposure to the U.S. subprime mortgage crisis, sending some bank shares plummeting in Hong Kong.

Bank of China saw its Hong Kong stock price fall by as much as 8.1 percent Friday in reaction to the bank's report that it holds $9.65 billion in subprime asset-backed securities and collateralized debt obligations. That's 3.8 percent of its total securities investments.

http://www.washingtonpost.com/wp-dyn/co ... 00735.html

Joe Montana's Firm Says Fund Declined 12% in August (Update4)

By Jenny Strasburg

Aug. 23 (Bloomberg) -- HRJ Capital LLC, the investment firm whose partners include retired football players Joe Montana and Ronnie Lott, said one of its funds lost 12.3 percent in the first two weeks of August, erasing most of its 2007 gain.

HRJ, based in Woodside, California, blamed the decline in its Legends Multi-Strategy Plus Fund on losses as the subprime- mortgage crisis spread to broader credit and equity markets. The investment pool farms out clients' money to hedge-fund managers. HRJ, which also invests in real estate and private-equity funds, oversees $1.75 billion.

http://www.bloomberg.com/apps/news?pid= ... refer=home



I've readjust my allocation slightly. I'm evenly dispersed in my favorite funds with about 20% cash (GIC). You know I don't like bonds except under very special circumstances. Under these circumstances, it's RGVEX only. The rest of the stuff is stuft with MBS's and you know about that from my site. I've pretty much got a feeling for what's comin' down the road onna macro level... and I know how I'm gonna play it. I'm not sure just how to write about it. Stay Tooned....





More To Come, here and on my website in Reforming A Pension Plan From The Outside and COFGBLOG ESSAYS .... Did you expect anything less?
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