It has, also, a basic problem of solvncia*. (grifo and boldface ours) Thus, thick way, exists well more paper that money! * SOLVENCY (16) State of being able you meet maturing obligations they eats due. Of another side, similarly to the which had case of speculation badly succeeded to ' ' time insuficiente' ' (LTCM), before mentioned, it can also occur that determined speculation it comes to spoil due to. In this direction, we arrive to sketch some aspects of similar thing to such hypothesis in item 4 of our work ' ' That hours are in the clock of the market? ' ' , as it is followed: ' ' time in demasia' ' … Exemplificando, the objective of ' ' determinado' ' financial capital, as deep hedge is simply to carry through profit. On the other hand, a pension fund can keep its reserves techniques applied in changeable income, while it waits the retirement of its associates. It is accurately there that a negative surprise can appear! In other terms, it can have a esboroamento of the capital, when you remain only ' ' comprado' ' , since ' ' true forma' ' of the value it will start if to disclose with passing of the time, therefore cyclical factors will start if to reveal. In other terms, one alias process exists to harvest the fruit, as ahead we will see.

Thus, if you are ' ' located in the Mercado' ' you are making some thing. You not it is making NOTHING. You are participating of an appositive one. the characteristics of risk of an appositive one cannot be eliminated. Thick way, its Capital is at risk. Finally, as in the before boarded case, of ' ' demand lack efetiva' ' , also it can come to occur a badly-succeeded speculation due to one ' ' demand in demasia' '. Thus, they seem are. In such article technician, the author French economist Frdric exemplifica Lordon as. In other terms, as before we mention, the TRENDS ' PONZI' OF the MARKETS (14) the speculative bubbles are supported in an impossible hypothesis: of that new investors will enter in the money market, to support the profits of that they had arrived to antesqualquer speculation, failed or well-occurred, it is always a question of timing! In summary, ours to see, we can classify the mentioned cases of speculation in the present work, as well as its respective causes, as it is followed: LTCM ' ' ' ' ; INSUFFICIENT TIME? North American REAL ESTATE BUBBLE ' ' LACK OF DEMAND EFETIVA' ' ; SOCIAL SECURITY (PENSION FUND) ' ' TIME IN DEMASIA' ' or ' ' IT OFFERS EFETIVA' ' ; In similar way, to the one of the North American, above-named REAL ESTATE BUBBLE, we think that the continuum and indiscriminate creation of pension fund and of stock fund are imposed as an essential beacon in the potential constitution of a burstil bubble of enormous ratios