Sunday, 13 July 2008

I can't get no sleep....

Oh, if I could only get some sleep. Actually it's not *that* bad but I really could do with a decent 8-hour stretch.

On the up side, not sleeping means I have plenty of time to read my book. Currently on the go is Michael Lewis's Liar's Poker. It is a Wall Street trader's memoir about the early to mid-80s, and in particular about the creation and massive expansion of the mortgage bond market. Even though it covers events from more than twenty years ago, it is eerily resonant in today's unpredictable times, in particular with the latest news from the US property markets. There is quite a lot (the technical bits) that I don't understand, but I'm getting enough to know that people on the money markets make money out of literally nothing. I see it as a bit like a dog chasing its tail. I can't really explain it, but so much of the finance industry is built around entirely intangible commodities. It has inspired to find out a bit more about how the whole crazy world of the markets works.

In other news:
Doggy has a flea. Or maybe even two. Damn and blast. She will have to be subjected to the flea-annihilating spray. Lucky doggy.
Yesterday was Marianne's birthday. Happy Birthday!
Last Wednesday was Bro's birthday. Happy Birthday!
Hubby bought a new suit.

Er, that's about all I have to say about that.

4 comments:

Zhu said...

I feel for you, I feel miserable when I can't sleep. I don't wake up in the middle of the might - I sometime just can't fall asleep.

Counting the hours is the worse.

Luckily, it doesn't happen to me often.

Brennig said...

I did that job. Just over ten years in the currency markets in London as a dealer. Just thought I'd tell you. Bulls and bears, futures and puts. forwards and depos, FRNs and FRAs, swaps and arbitrage - not to mention IRSs, CDs and Eurocurrencies on spot trades. Ah, the memories are flooding back like a bottle of Bolly in Balls Brothers one lunchtime.

Lis of the North said...

Hi Zhu. Ah the sleep thing is getting better. Chemically-assisted at the moment though!
Brennig no way!! And did you pack it all in because it was morally wrong? It's all quite fascinating in this book anyhow. I recommend it.

William said...

http://www.portfolio.com/news-markets/national-news/portfolio/2008/11/11/The-End-of-Wall-Streets-Boom

Michael Lewis piece...