Top 5 “We didn’t expect this to happen” quotes, reverse order:

5. General Henri Navarre on Viet Minh General Giap’s deployment of 300 105mm artillery pieces overlooking the French position at Dien Bien Phu (1953)

4. Everyone, the twist at the end of The Crying Game (1992)

3. Everyone, Julia Roberts marries Lyle Lovett (1993)

2. Everyone, Alexandre Vinokourov wins the Albi time trial on this year’s Tour de France days after crashing and taking 30 stitches in his knee (2007)

1. Macquarie spokesman Peter Lucas on subprime fallout being less contained than advertised, losing two of the group's funds A$300m or 25%. But no worries, mate - the funds' underlying assets are "fundamentally healthy" (31 july 2007).

Strange - that's also what Dil said to Fergus.

NB: It's all happening. Add Oddo & Cie ("we took this decision in the interests of our clients") to fellow liquidators Commerzbank, IKB, Basis, Absloute and Macquarie in the 'it was unforseeable' crowd [cf the 'never one cockroach rule' of the last post]. Of the visible in France, AXA and BNP Paribas may also be in discomfort.

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2 comments

  1. Cassandra // 8/03/2007 10:59:00 PM

    ...sadly MIC (Macquarie Infrastructure Fund), the one that has runf the bell on virtually everything its bought, refuses to go down. The fund is the largest shareholder in itself, presumably from buybacks, but it just did a secondary...

    Go figure. Somone will torpedo it soon.

  2. RJH Adams // 8/04/2007 12:11:00 AM

    (millionaire) maker?

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