Unfounded Rumor Of The Day: Diamond Hill Makes Pussies Of You All?

Okay, someone left this in comments but we can't find anything like it online (we also called DHIL for comment but apparently the guy who answers questions on the matter is out to lunch 'til 2:30).

"NASDAQ issuer Diamond Hill Investment Group, Inc. (DHIL) has voluntarily opted-out of NASDAQ's list of Covered Securities under the SEC's Emergency Order, effective today, September 22, 2008. Diamond Hill Investment Group, Inc. will not be subject to the restrictions of the Emergency Order."

If this is true, GOOD FOR DIAMOND. While GS et. al. apparently need the protection of Christopher Cox, you are sending a message that the big bad short sellers can huff and puff all they want, but unlike Lehman's house of straw and Bear's trailer park of hemp, your house of bricks ain't coming down.

Update: it's true.

Comments

1

Posted by guest, Sep 22, 2008 1:41PM

Second (doh!)

2

Posted by guest, Sep 22, 2008 1:41PM

lets start some creative juices flowing...with SARAH PALIN JOKES

JOKE 1 :
===========
When Palin was asked what she'd do in a bear market.

She answered she would shoot and skin it.


PLS FEEL FREE TO CONTRIBUTE..(AND GET ACCESS TO HER ID)

4

Posted by guest, Sep 22, 2008 1:43PM

When Palin was asked if the economy is in a recession... wait, what's a joke?

5

Posted by guest, Sep 22, 2008 1:43PM

@2 haha

Here's another: http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aSKSoiNbnQY0

6

Posted by guest, Sep 22, 2008 1:47PM

@5- there's nothing about diamond hill in that link

7

Posted by guest, Sep 22, 2008 1:49PM

Serious question:

BL if you were going to have a threesome, not saying you neccesarily would or wouldn't, would you go 2guys/1girl or 2girls/1guy?

8

Posted by Bess Levin, Sep 22, 2008 1:57PM

thanks, shalimar.

9

Posted by StupidEquityGuy, Sep 22, 2008 2:03PM

This didn't take long to be built...

http://www.votenobailout.org/

They even have a tool to auto contact your congresscritter

10

Posted by guest, Sep 22, 2008 2:07PM

http://www.youtube.com/watch?v=vyV67c1u25w

11

Posted by guest, Sep 22, 2008 2:08PM

Bess, can we remove the annoyning Sarah Palin jokes such as #2. They take up valuable threads. Hopefully if we ignore the assholes they will go away. Makes me long for the mayo posts.

12

Posted by guest, Sep 22, 2008 2:09PM

So, the best part about that website is the awesomely partisan slant to it. I'm opposed to the bailout, but not because of some political witch-hunt. I just think that its socialism at its finest.

13

Posted by guest, Sep 22, 2008 2:10PM

When Palin was asked if the economy is in a recession... wait, what's a joke?


A JOKE ?

HERE IS AN EXAMPLE :

"Crude Oil Surges More Than $10 as U.S. Bailout Plan May Boost Consumption"
-Bloomberg Comedy Network

14

Posted by guest, Sep 22, 2008 2:12PM

I can't wait to see what the executive compensation riders will look like. Nothing fixes problems better than knee-jerk legislation!!

15

Posted by guest, Sep 22, 2008 2:12PM

Hey Bess:

http://finance.google.com/finance?q=dhil

bwahahahaha

"Pussies"

16

Posted by guest, Sep 22, 2008 2:12PM

Diamond who?

17

Posted by guest, Sep 22, 2008 2:15PM

@ 15, that's fantastic. Nice going, BL.

18

Posted by guest, Sep 22, 2008 2:16PM

"I can't wait to see what the executive compensation riders will look like. Nothing fixes problems better than knee-jerk legislation!!"

From the desk of Chris Dodd (D-CT):

SEC. 17. EXECUTIVE COMPENSATION.

The Secretary shall require that all entities seeking to sell assets through a program established under this Act meet appropriate standards for executive compensation and shareholder disclosure in order to be eligible, which standards shall include—

(1) limits on compensation to exclude incentives for executives to take risks that the Secretary deems to be inappropriate or excessive;

(2) a claw-back provision for incentive compensation paid to a senior executive based on earnings, gains, or other criteria that are later proven to be inaccurate; and

(3) such limitations on the entity paying severance compensation to its senior executives as are determined to be appropriate in the public interest in light of the assistance being given to the entity.

19

Posted by guest, Sep 22, 2008 2:19PM

Text of Dodd's plan:

http://www.politico.com/static/PPM41_ayo08b28.html


So what risks is the Secretary of the Treasury going to deem "excessive"? Like, anything that GS wouldn't do?

When are they going to decide that earnings were "inaccurate"? Like when there's a Worldcom/Enron type fraud? Or just when, ya know, a company makes a shitload of money in a good market and then not so much in a bad market?

I think the "no severance for failures" rule was pretty much a foregone conclusion and I don't have a big problem with this one.

20

Posted by guest, Sep 22, 2008 2:22PM

uhhh... OIL?!

21

Posted by guest, Sep 22, 2008 2:26PM

What this all means is that the Treasury is now more important than the Supreme Court, more relevant than the President, and beyond the reach of Congress. If Paulson reorganizes us into an Empire and starts building Star Destroyers, we could be in trouble.

22

Posted by guest, Sep 22, 2008 2:26PM

oil PAIN TRAIN

23

Posted by bank_teller, Sep 22, 2008 2:38PM

omg the market is down today and gs and mer/bac are down today! how are those big anonymous meanies doing this after we kryptonited their super powers by pulling down their shorts???

24

Posted by guest, Sep 22, 2008 2:40PM

why did you take down Gasparino phone message?

25

Posted by guest, Sep 22, 2008 2:50PM

LTCM they're not:

Diamond Hill Capital Management, Inc. is a registered investment adviser based in Columbus, Ohio. Diamond Hill manages equity and fixed income portfolios for institutions and financial intermediaries seeking to preserve and build capital. Diamond Hill’s assets under management as of August 31, 2008 were $5.9 billion.

26

Posted by guest, Sep 22, 2008 2:53PM

DHIL is the next LTCM?

How is old man ol' JM doing? hw started another fund, right??

27

Posted by guest, Sep 22, 2008 2:53PM

@25-- that makes it all the more amusing...they're a wee small bank saying we don't need this, we can survive w/o cox, but gs/ms/etc are all scared shitless to go it alone

29

Posted by guest, Sep 22, 2008 3:38PM

@13

Funny. I love when financial journalists try to attribute a move in some market to the COMPLETELY wrong thing. CNBC is phenominal at it.

30

Posted by guest, Sep 22, 2008 10:21PM

Heavy volume on DHIL with this announcement... 8,547 shares traded on NASDAQ today!

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