{"id":197418,"date":"2008-02-05T22:32:00","date_gmt":"2008-02-06T03:32:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/02\/05\/illiquid-2\/"},"modified":"2008-02-05T22:32:00","modified_gmt":"2008-02-06T03:32:00","slug":"illiquid-2","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/02\/05\/illiquid-2\/","title":{"rendered":"Illiquid"},"content":{"rendered":"<p>Illiquid sounds like a mile word.<\/p>\n<p>It sounds like maybe the markets are thirsty.<\/p>\n<p>It&#8217;s actually <span style=\"font-weight:bold;\">MUCH<\/span> worse than that.<\/p>\n<p>It means that a buyer cannot be found for your asset, so for the time being at least, it is worthless.<\/p>\n<p>It&#8217;s like being marooned on a desert island with a pirate chest full of gold doubloons.  Technically, you are rich, but you still have no shelter, food or water, and you die all the same.<\/p>\n<p>The Collateralized Debt Obligation (CDO)market <a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601087&amp;sid=aCk0Qr1f2Eew&amp;refer=home\">is very nearly illiquid<\/a>, according to Ross Heller of JPMorgan Securities, who is saying, &#8220;We&#8217;re definitely in a period of very low liquidity at the moment, which has actually been dropping precipitously in the last few weeks.&#8221;<\/p>\n<p>Desert Island time.<\/p>\n<p>I&#8217;m beginning to wonder if a Honda full of silver is over optimistic, and that instead we should fill it with canned goods and ammunition.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Illiquid sounds like a mile word. It sounds like maybe the markets are thirsty. It&#8217;s actually MUCH worse than that. It means that a buyer cannot be found for your asset, so for the time being at least, it is worthless. It&#8217;s like being marooned on a desert island with a pirate chest full of &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1261,973,1004],"tags":[],"class_list":["post-197418","post","type-post","status-publish","format-standard","hentry","category-bubble","category-economy","category-finance"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/197418"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=197418"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/197418\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=197418"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=197418"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=197418"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}