华尔街会大谈反向操作的重要性。但2007年多数交易员都笃信Fed不会放任住房市场崩溃,他们还坚信市场的繁荣局面会持续下去,另一些交易员则找不到做空次级抵押贷款的好办法。于是他们任由圈外人去绞尽脑汁。
Less well known, but no less dramatic, is the story of America's energy transformation, which took the industry's giants almost completely by surprise. In the early 1990s, an ambitious Chevron executive named Ray Galvin started a group to drill compressed, challenging formations of shale in the U.S. His team was mocked and undermined by dubious colleagues. Eventually, Chevron pulled the plug on the effort and shifted its resources abroad.
没那么广为人知,但一样充满戏剧性的是美国能源产业的变革之路,这一过程可以说是完全出乎行业巨头的意料。在20世纪90年代初,雪佛龙一位名叫拉伊?加尔温(Ray Galvin)的雄心勃勃的高管组建了一个团队,试图在美国对富有挑战性的紧硬页岩层进行开采。他的团队受到将信将疑的同事的嘲笑和打击。最终,雪佛龙叫停了页岩气开采,将能源重心转移到了国外。
Exxon Mobil also failed to focus on this rock -- even though its corporate headquarters in Irving, Texas, were directly above a huge shale formation that eventually would flow with gas. Later, it would pay $31 billion to buy a smaller shale pioneer.
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