Friday, 17 August 2007

Week 8

Incredible week. If you're been following the markets you will know why. Central banks pumped liquidity into the markets to help prevent a downward spiral, but it's anybody's guess if that was the right move. Markets recovered temporarily but as expected it slumped a couple of days later. And a surprise move by the Fed to cut rates led to a rally and a brief breather for the weekend, but next week could see another dramatic unfolding of events.

2 weeks left. With the volatile markets, I guess noone would be willing to add headcount now. We're all rather disheartened by the fact that we'll very likely end the summer jobless. Spoken to quite a few senior managers this week, and everyone asked me to apply to other firms, any firms. They can't guarantee any openings. Not a bad time to go back to school, but where's the money?

I'm working in structured finance now, yeah, the best time to be in this place. Still trying to come to grips with the many variations of SF - ABS, MBS, CMBS, RMBS, CDO, CLO, CBO, CMO, ABCDS, CDO CDS, CDO^2, CPPI, CPDO, ...

Hired a tuxedo which cost me a bomb, even after a 25% student discount. Almost wanted to buy a full set but I don't see myself wearing it again anytime soon.

Feeling rather unsettled now, what will be the outcome come end Aug?

My best friend will be coming over next week, but I'll probably be busy :(

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