What IS DA all about?

1. A well written recap on what leveraged ETFs do (HERE).

2. ISDA finally decides that Greece’s invocation of the CAC is a Restructuring Event (HERE), Big Picture on OTC-CDS (HERE), get a sense of how the OTC market structure differs from the exchange-traded structure that you are familiar with. And an Austrian Bank that sold Greek CDS needs a bailout (HERE)!

3. If you want a bigger picture and historical perspective on what this nexus between central banks, government and the financial sector, (recently demonstrated in the Greek default/cds fiasco stories I mention) run to read THIS piece by Carmen Reinhart.

4. John Hussman (HERE) about now being an AWFUL time to be in US equities.

5. Fleckenstein (HERE) recommends videos on why you should invest in GOLD (HERE), Tell me what you think if you watch it.

6. Another set of stories about the wealthy BRIC middle class.  HERE is one about Brazilians shopping in Miami. You know the stories about Russians and Indians buying gold, and last is THIS story about 4 self-made female Chinese billionaires. As a 20-year old coming the US, I did not even dream that this was possible. I remember traveling in Europe as a 30-year old hearing stories of rude Americans that the locals had to put up with. Now wandering in India, I marvel at how old college buddies drop $400 + at a dinner for 4 without flinching!

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