The bursting of the subprime mortgage bubble and subsequent market meltdown in the summer of 2007 vividly illustrate Karl Marx's adage that history tends to repeat itself: the first time as tragedy; the second time as farce.1 This summer's farce showcased the collapse of the subprime mortgage market, the failure of overleveraged fixed-income hedge funds, and sharp losses by quantitative hedge funds. The sad part: these debacles were made possible by players, both sophisticated and ...

All Access Premium Subscription

Your subscription will include 12 months of Trusts & Estates magazine, access to premium content on WealthManagement.com, and Trusts & Estates plus iPad app.

Already registered? here.