Judgment Day Trade

May 21, 2011 10:00am by Barry Ritholtz

Based on yesterday’s ironic Game Theory post (End of Worlders: Classic Game Theory Error), I have a few quotes in a Reuters column.

Like the post, they are totally tongue-in-cheek. Unfortunately, sarcasm really fails to come across in print. Instead, the speaker looks like a humorless ghoul (that would be me).

Here is the relevant excerpt:

“A U.S. Christian radio network has been creating a stir with predictions an earthquake will shake the world on Saturday (May 21), sweeping the righteous to heaven and leaving others behind to be consumed in a ball of fire in October.

It left some on Wall Street on a relatively quiet day of trading to ponder the strategy to end all trading strategies.

“The end of the world trade is a sucker’s bet because if you’re right, well, your counterparties are dead and you have nobody to collect from, and if you’re wrong you owe a lot of money,” said Barry Ritholtz, CEO and director of equity research at Fusion IQ in New York.

But just for the sake of discussion, Ritholtz wasn’t too keen on the housing market, since land would hardly be at a premium.

“It would be terrible for housing prices. It’ll reduce demand and put additional inventory on the market,” he said.”

I find that amusing, but I worry that the cheekiness fails to come across in print . . .

Previously:
End of Worlders: Classic Game Theory Error (May 20, 2011)

Source:
Judgment Day trade: Sooner than you think?
How do you invest for the end of the world?
Chris Sanders
Reuters, May 20, 2011
http://www.reuters.com/article/2011/05/20/us-apocalypse-investment-idUSTRE74J6Y520110520

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