August is over, which means that Eric Peters, the CIO of One River Asset Management, is back to doing what he is so very good at: distilling the week’s events and latest financial and economic trends into pithy, one-paragraph aphorisms. Without further ado, here is an anecdotal excerpt from his latest weekend notes.
I love movies. Scary ones especially. Keep your happy endings, give me chainsaws. Meat hooks.
I’ll never forget ERM in 1992. That was my first real snuff flick as a Lehman prop trader. The Italians never stood a chance in the film, they never do. Show me an Italian who can resist a dark woodshed and I’ll show you a hero in a hockey mask.
At least the Swedes put up a fight in the flick. Their central bankers raised overnight rates to 500%. Want to make a grown nerd cry? Run that interest rate through his risk model. But of course, not a single propeller-head imagined such a monster.
This post was published at Zero Hedge on Sep 3, 2017.