Is it fair to say that it in general it is a BAD sign if banks are using the discount window? (unless you are BofA, Wachovia, JPMorgan, Citi who did so last week, perhaps for psychological reasons…)
Bad sign for what? Might mean that money is tight because the economy is booming.
To be more clear, would it be considered a bad sign for the bank that is borrowing?
Theoretically borrowing from THE FED during the discount window IS a bad sign. It suggests that no one else BUT the lender of last resorts will lend a bank money. However, I think what Joey is getting at is that banks might see the economic environment as highly positive [not likely here but in general] and feel they can invest the money for productive use. I think that in this case it’s not really a good sign that the supertankers have to “step in” to acquiesce the fears or anxieties of the market. Willy
I agree with that^
I find so much about investment education is learned from just talking to people and reading things like The Economist and select publications. I mean CFA teaches you a great great hard skill set, but to think CFA = H-Fund PM gig is just a joke. Willy
I know some hedge fund PMs who would benefit a lot from taking L 1…
Lol…ha ha ha. Yeah same with FOF PMs Joey. PS - What do you do? Willy