Brad DeLong: Reflections on Paul Ryan's Transactions in Individual Bank Stocks in 2008

[swag]

http://www.huffingtonpost.com/brad-delong/paul-ryan-transactions-bank-stocks_b_1773147.html?utm_hp_ref=politics

. . .

At the level at which part-timer Paul Ryan plays this game -- Oh! Goldman is undervalued relative to Citigroup on January 22! Oh! Citigroup is undervalued relative to Goldman on February 22! Oh! Goldman is undervalued relative to Citigroup on June 16! Oh! Goldman is undervalued relative to Citigroup on September 18! Oh! Goldman is overvalued relative to Citigroup on October 20! -- he can no more win than Reagan-era ex-Secretary William Bennett could win as he dropped $7 million over the years in Las Vegas. An intelligent man takes the advice of the computer in the movie Wargames: "A very interesting game. The only way to win is not to play."

I don't want to hire as my vice president and federal budget czar somebody who uses Congressional inside information to profit by switching his portfolio back and forth between Citigroup and Goldman five times a year: I want somebody with better ethics.

I don't want to hire as my vice president and federal budget czar somebody who investing very part-time with no analytical support and without inside information switches his portfolio back and forth between
Citigroup and Goldman five times a year: I want somebody with a better brain.

. . .

[tk2kewl]

1. K&R

[cbdo2007]

2. He didn't profit from it. He lost money on his poor trades.

[swag]

3. Great. So this financial genius is an idiot.