re: the great bet

[Tom Walker]

As I recall, the stakes were a case of Lagavulin. This payoff comes too
late. I had lunch with Max Monday on his way to Tokyo. If he had already
received the case, maybe I could have mooched a bottle off him. Damn.

Tom Walker
604 254 0470

Re: the great bet

[pms]

Isn't it too soon to say it was too low?
- Original Message - 
From: Michael Perelman [EMAIL PROTECTED]
To: [EMAIL PROTECTED]
Sent: Friday, July 26, 2002 12:42 PM
Subject: [PEN-L:28556] the great bet


 Some time ago, Mark Jones, who has not returned made a bet with Max that
 the stock market was about to crash.  I forget the exact date and exact
 level, but Mark's estimate was too soon and too low.  He asked me to
 announce to that Max is about to be paid in full.
  --
 Michael Perelman
 Economics Department
 California State University
 Chico, CA 95929
 
 Tel. 530-898-5321
 E-Mail [EMAIL PROTECTED]
 
 

Re: the great bet

[Mark Jones]

At 26/07/2002 17:42, Michael wrote:

  Some time ago, Mark Jones, who has not returned made a bet with Max

Actually I have returned, but I have not yet written to Max detailing my 
terms, which however I plan to.

Wall St  is now worth about $11 trn instead of the $20 trn it was worth two 
years back. It has lost almost half its value. In my opinion, it will lose 
more. However the extent of the losses is not reflected in the DJIA, which 
is an arbitrary artefact. Therefore, I lost my bet with Max. But it cannot 
be gainsaid that I was right in principle. It is the Dow which is out of 
line with reality.

Mark



  that
the stock market was about to crash.  I forget the exact date and exact
level, but Mark's estimate was too soon and too low.  He asked me to
announce to that Max is about to be paid in full.
  --
Michael Perelman
Economics Department
California State University
Chico, CA 95929

Tel. 530-898-5321
E-Mail [EMAIL PROTECTED]