Today's newly minted market rules (or the psychological impact thereof) have forgiven the sins of a number of financial giants. Among them, Washington Mutual has posted 30%+ gains, prompting WM shareholders, who have cut their 180 days losses to a mere 60.33%, to take to the streets in celebration. Likewise, the 23% gain posted by Goldman Sachs has reduced the gelding of her shareholders to a downright cheery 20.55% loss over 180 days. Morgan Stanley executives were celebrating their mere 33.52% loss over the same period after price controls were introduced by the SEC's Chairman Cox last night.
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Posted by DrederickTatum , Sep 19, 2008 12:23PM
Ban the Longs! This kind of market run-up precipitates bubbles!
/sarcasm
Christopher Cox... complete moron.
Posted by guest , Sep 19, 2008 12:24PM
(could we set up a discussion on the short selling rules)
Posted by guest , Sep 19, 2008 12:32PM
only if it is conducted in Pirate-ese
Posted by guest , Sep 19, 2008 12:32PM
tick. tick. tick. tick. tick. tick. tick.
Posted by guest , Sep 19, 2008 12:32PM
Ironic?
The best short-term trading strategy right now would be to short the hell out of every financial stock. This run up is such a load.
Does anybody really beleive that the fundamental make-up of these firms has changed? Did the balances sheets turn into gold over-night?
See you in 10 (30) days when this regulation sunsets. All Hank did was delay the inevitable.
Posted by The Notorious BSC , Sep 19, 2008 12:34PM
YARR!!! DAMN THEIR BLASTED SCALLY-WAG RULES!! TAKE ALL YE CAN AN' GIVE NOTHIN'BACK!!!
Posted by guest , Sep 19, 2008 12:36PM
Now they are going to add GE to the list? Where does it end?!
Posted by guest , Sep 19, 2008 12:39PM
Republicans == Less government.
Yea right.
Posted by guest , Sep 19, 2008 12:43PM
My compliments to your dope dealer #5
Posted by guest , Sep 19, 2008 12:56PM
@5 There balance soon will be gold + 20%. Its quiet simple, an intercompany transfer so too speak from publicly traded company's to the taxpayer via the government.
Here is you're entry:
MS, GS, MER, BAC etc....
DR. Asset receivable from U.S. Govt XXX
CR. Toxic Crap "Asset" XXX
U.S. Government
DR. Toxic Crap "Asset" XXX
CR. Asset payable to financial firms XXX
U.S. Taxpayer
DR. Income Tax Expense XXX
CR. Cash XXX
See how easy that's. Problem solved!
Now for the big question. What value will the govt give the toxic assets.
Answer: Hire MS and GS to figure it out! Toxic asset value that was reported on the last Q plus 20%. No? No? YES! Work with me people these financial firms need to make money.
A=L+E and that is the only thing that matters right? No? No? YES!
So how do you hedge youre higher tax expense? Simple buy financials.
JO&C Bitches!
SPODE
Posted by guest , Sep 19, 2008 12:56PM
this is BS, i'm emigrating
Posted by guest , Sep 19, 2008 12:57PM
this is BS, i'm emigrating
Posted by guest , Sep 19, 2008 1:02PM
@10
"Asset payable to financial firms XXX"
Try "liability" and you're grammer sucks.
SPODE
Posted by guest , Sep 19, 2008 1:35PM
Since the taxpayers are cleaning up the banks' balance sheets, why shouldn't ML's stockholders vote against the takeover by BofA?
SAVE ML!!!
Posted by guest , Sep 19, 2008 1:38PM
since when has a govt takeover been gentle on shareholders?? i'm pretty sure there will be major dilution in financials (=> GS at $132 is dumb) and the economy will still slow (=> index up 4% is just as dumb)...
Posted by guest , Sep 19, 2008 1:55PM
@14 teeheee! i love the law of unintended consequences at work! tho i bet ML would get bitchslapped by paulson if it tried anything like that...
Posted by guest , Sep 19, 2008 2:00PM
Natural resources: the next generation
By Suchita Nayar
Sunday Sep 14 2008 16:10
FourWinds Capital Management, a €1bn (£800m, $1.5bn) boutique based in Boston focusing on commodities and natural resources, has moved into water-relatedinvestments.
Its London-listed Aqua Resources Fund, launched in July, will invest in corporations and projects targeting waste water treatment, water infrastructure and water conversion. It will zero in on small to mid-size companies round the globe and become a "significant" minority owner as well as investing alongside other limited partners in projects.
The fund is expected to attract investment mainly from European and Middle Eastern institutions, pension funds and insurers.
Is Suchita Nayar full of shit? Ask K. Tara ..or maybe not
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Posted by guest , Sep 19, 2008 2:13PM
@14 teeheee! i love the law of unintended consequences at work! tho i bet ML would get bitchslapped by paulson if it tried anything like that...
Posted by guest , Sep 19, 2008 2:22PM
@12 What looks good nowadays?
Posted by guest , Sep 19, 2008 2:51PM
@ 19 see @17 -
sorry couldn't resist.