We have had some weakness in the
 

market since it hit 14,000.

If you watch business shows or read the paper you will get all sorts of reasons. Oil prices hitting new highs. Housing market in a slump. Some are even saying the dropping interest rates are the cause, because there is a flight to quality from the market.

My best guess is we are going to hear about some hedge fund managers have gotten in trouble again. In the short term it has been my experience short term dramatic swings are caused by screw ups by people who have control over way too much money.

I was thinking the 14K may be a psychological barrier as well. But you're much more in tune with the market than I am so you're probably right.

I don't know if I was right or not, but Bear Stearns announced in the last couple of days it has a hedge fund that will not be honoring redemptions. I guess the fund is in trouble.

You hand young Harvard MBA's 90 million dollars and say, see what you can do. What do you expect.

Disclaimor: I don't know for a fact they were Harvard MBA's or in their 20's. I do know though John Edwards got paid to advise hedge funds and Chelsea Clinton works for a hedge fund.

Bush hired 24 year olds from suspect universities/law schools to help select US Attorneys.....

....this is just par for the course.

Suspect universities?? You mean they were Harvard or Yale grads??

I mean they were Pat Robertson U. grads.

Not surprising, but you and I are suspicious of different things.

Out of curiousity, can you name me one great entrepreneur who has come out of either Harvard or Stanford. Graduated from the Universities?

Rob in graduated from Yale. (grad school)

So you know what I think of Yale now. :)

Bear Stearns has been in trouble very a while. The market would have adjusted for it months ago.

I agree hedge funds cause a lot of trouble. I know someone who works for one, and the way he describes it is pretty crazy. Pretty fun job but pretty crazy stuff. 30 or so high powered guys--not so much Harvard MBA's but PhD's in various subjects especially math with some computer programmers and MBA's mixed in all sitting together in a big room hammering stuff out, no offices or cubes or anything. Crazy environment compared to what I'm used to at least.