Which side of the trade was God on Mr. B?

Since the break of the Goldman news, CNBC has turned itself into all-Goldman-all-thetime. So, I preface this by saying there isn’t too much left to say, given what we do know now, but it’s just too darn fresh not to say something…

The lessons of hubris are learned over and over again by each “great” generation. At one time in our lives most of us have fallen victim to its powerful clutch. I have a very close and wise friend. I met him during my stock brokerage years which were a long time ago. He said to me one day: “You know, what we all need to do is stamp the word hubris on our wrists and look at it every day.” Though not into tattoos, I think of his wise counsel often.