Is that a black swan I see over there?

It may be anothersteaming hot day in Turkey, but current equity market movements are definitely giving me the chills. The yen has been rising unsurprisingly too as the stocks have tumbled worldwide. I’m still so young I wasn’t paying attention to what happened in ’98 when the carry trades unwinded big timeinsuchashorttimeeventhegiant LTCMwasbroughttoitsknees, but from what I’ve been reading, it seems history may be about to repeat itselfprettymuchanytimenow (see this for some details aboutthepossibilityof Yen carry trades unwinding).

Now if only I would be knowledgeable and smart enough to make big money while others start losing fortunes.

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