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But when it comes to the Equity and Bond Markets, I consider myself a just a student.
Every now and then, I look and see who has linked to my blog, or re-posted something I've written. Most of the time it's other real estate professionals. I wrote a piece the other day that I hope explained why a new accounting rule (FASB 157) was important and how it was going to change the books on the big hedge funds, mortgage pools, and other equity derivative houses. I used the power of metaphor in hopes to better deliver the message.
Tim Abbott at "A Better Mortgage" thought it was worthy enough in the judging for the Carnival of Real Estate...
"Last but not least, the grand champion of them all:
The Busiest Beaver Award - Mike Mueller puts on his metaphor hat to explain some new accounting rules that will play a significant role in the coming days on Wall Street, and some of the firms to watch."
WOW! Thanks Tim! Obviously, Tim's a mortgage guy too. Was it really worthy of Grand Champion status? I humbly didn't think so. But I love the Dundie! LOL
What really surprised me was to find the Finance Guys thought it was something of value too:
"Exodus" on the Market Ticker Forums thought it was a "decent explanation of Level 3 and FASB stuff for the average Joe."
"dasweise" on Yahoo's Message Boards said, "Check out this link for the basic understanding. http://www.patagoniafinance.com/2007/11/..."
I know, they used words like decent and basic, but coming from Finance Guys - Those are pretty strong words! 
How cool is that?
So now, when you see news reports like yesterdays, "Citigroup faces $15 bln writeoff", and you read quotes like "Banks have announced more than $50 billion of write-downs tied to the U.S. housing slump, as defaults soared and the value of mortgages that investors deemed too risky plummeted." You too can sound cooler than snot around the water cooler.
"Yeah, that was due to the recent FASB 157 ruling, don'cha ya know..."
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