Nov 11, 2009, 10:34am
Nov 10, 2009, 8:45am
$$$ Inside the Bear Stearns Boiler Room [Fortune]
$$$ Shocking Target Trubs [Bloomberg]
$$$ Anal_yst has some thoughts. [1-2]
$$$ Random editorial query: are you or is anyone you know flipping the fuck out and, in preparation for the apocalypse, buying guns, bigger safes, building panic rooms, etc? Someone wants to speak to you, so get in touch.
Sep 15, 2009, 2:22pm
I sense some judgment from the Bloomberg reporter here re:...
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Sep 15, 2009, 2:00pm
Tudor BVI Global: August 2009: 0.5% YTD: 12.5% ...as for...
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Sep 09, 2009, 11:27am
Goldman Sachs partner managing director Richard Kimball Jr. apparently got...
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Sep 09, 2009, 10:15am
Ladies, if you've been looking to work under one of...
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Posted by guest , Mar 03, 2009 5:40PM
http://www.sec.gov/news/press/2009/2009-39.htm
Posted by guest , Mar 03, 2009 5:53PM
Boiler rooms used to be cool when the mob ran them...nowadays anybody can have one.
Posted by guest , Mar 03, 2009 5:55PM
Can't believe Bess missed the great Buffett quote and "teat" reference in his new annual report page 3, para 5.
"Weaning these entities from the public teat will be a political challenge. They won't leave willingly."
PS. Gibbs may want to read the rest of the report.
Posted by StupidEquityGuy , Mar 03, 2009 6:04PM
Dude... pass the bong... http://media.nowpublic.net/images//13/c/13c851e09ac1271c9cd963fc77a30d80.jpg
Posted by guest , Mar 03, 2009 6:11PM
So, ummm...who left the 100,000+ order for BAC at $3.65.
I bet they get fired tomorrow...
Posted by guest , Mar 03, 2009 6:11PM
A catfight between socialists:
"When Sanders pressed on whether Bernanke would name the firms that borrowed from the Fed, the central bank chairman replied, "No," and started to say that doing so risked stigmatizing banks and discouraging them from borrowing from the central bank.
"Isn't that too bad," Sanders interrupted, cutting him off. "They took the money but they don't want to be public about the fact that they received it."
According to the text of the proposed legislation, e-mailed by Sanders' staff, he wants the central bank to identify any firm that has received financial assistance since March 24, 2008, including details on the type of borrowing, amount, date, terms and the Fed's rationale for lending."
http://uk.reuters.com/article/americasRegulatoryNes/idUKN0349765020090303?sp=true
Remember here: Sanders is the socialist, Bernanke is the socialist-wannabe.
Posted by guest , Mar 03, 2009 6:44PM
ok. I give up. where did the blue whale article from the RSS feed come from / go to?
Posted by guest , Mar 03, 2009 7:22PM
SEG - you're back.
How are you doing? What are you doing in this market?
Why the f**k is dick bove on CNBC talking about the banks being a "great buy"? Why does anyone still pay him? After his horrible calls in the last 2 years he should be unemployed.
IMHO, the no confidence vote, that the market is currently enjoying, has to do with the complete lack of accountability,up and down the food chain.
Posted by guest , Mar 03, 2009 7:26PM
@8
No, too many Ponzis. And the big ones should have been caught years ago. More to follow.
Posted by guest , Mar 03, 2009 8:02PM
Police pulled an arsenal of rifles, shotguns, handguns and ammo out of the Staten Island home of a 54-year-old man this morning, authorities said.
http://www.silive.com/news/index.ssf/2009/03/large_stash_of_guns_removed_fr.html
Posted by guest , Mar 03, 2009 8:19PM
#8,CNBC was criticized today during the press conference and apparently Cramer was singled out, so, instead of telling the truth, they might be literally goig back to "the party line".
Posted by guest , Mar 03, 2009 8:29PM
Dr. Frank Luntz: "I'll give you a startling statistic, by almost 3 to 1 Americans believe that this country will be worse for their children than it is now" "The American Dream is dead" says Dr. Luntz.
Posted by guest , Mar 03, 2009 8:40PM
Finally read the whole of the Noel Vanity fair article:
http://www.vanityfair.com/style/features/2009/04/noel200904?currentPage=1
I *almost* feel sorry for them. I'll settle for schadenfreude.
Posted by guest , Mar 03, 2009 8:42PM
I am a senior vice president of a major rating agency.
What is Shamwow and who is Cramer?
Posted by guest , Mar 03, 2009 9:02PM
*What has created the lack of confidence in the market? Follow on: What can we do to restore it?
*What is best for the average individual who has been fiscally responsible?
*What can we do to minimize the negative impact on those who weren't so responsible?
*Why pump more money into a system when the criminals are still free and operating?
*How long will the US populace stand for this and is protecting the individuals who cause the problems worth the free market?
*How much "zero capital" insurance is still occuring in the marketplace? What steps do we need to take to ensure that every financial transaction is at least monitored to ensure adequate capital exists?
*Who has borrowed from the Fed under various programs? Is the bank receiving adequate compensation for its risk?
*What is a reasonable amount of capital for a depository institution to hold? What steps need to be taken to raise this capital?
*What institutions have grow so large that they are a threat to the economy? What steps need to be taken to reduce this systemic risk?
*How can the average retail investor be more insulated from fraud?
*How can we, as a country, encourage more fiscal responsibility and savings?
Posted by guest , Mar 03, 2009 9:05PM
A. @12
Jimmy Carter gave a startingly similar speech about the first generation to believe their children will not have a better future in ca. late '79-early '80. . . i'll look for it and provide reference.
B. if you didn't have to think about building a safe room during the carter years you're probably too young to know what's going on here. if you did, you're probably too old to be on a board like this (suddenly self-aware)
C. @14 too little too late. prescient this date in '08; past its prime in '09
D. @6 in lieu of 'socialist' we now prefer "people's guardian".
E. a little more scotch can't hurt at this point. . . . putting the "0" in h0pe.
Posted by guest , Mar 03, 2009 9:09PM
#14, My name is erin and I think Cramer is the sexiest man alive!!!!
Posted by guest , Mar 03, 2009 9:10PM
15:
encouraging savings isn't exactly what we need.
the US h/h savings rate has gone up from -2% to 6%. in 5 months. turning japanese. i really think so.
Posted by guest , Mar 03, 2009 9:11PM
And Erin, Cramer thinks you look cantastic!
Posted by guest , Mar 03, 2009 9:30PM
@18
Once we are a net creditor nation that will be a problem again. Let's not worry about it until then. The way I figure, if we aren't a NCN we are wasting money and not proving our ability to create value.
Bilking stupid Americans isn't a path to sustainable wealth.
Posted by StupidEquityGuy , Mar 03, 2009 10:36PM
@8, I am still around. I have been coasting after a double digit up year in 08, I got my ass handed to me in January. I spent Feb undigging and am now nearing break even for 2009.
I am short Euro's, Yens, Pounds and Peso's. I am short US Treasury's while long junk bonds. That trade is a wash. I booked a bunch of gold @ 990 but started to nibble back today around 915ish.
I had a basket of biotech turn into biocrap and found myself stopped out lately. BO is BO for bio...
I am going long guns, ammo, butter, and bread. lol
~SEG
Mrs Trophy is becoming a regular gardener these days. I built her a greenhouse this winter and we have some crazy strawberrys growing in the back 40 now... lol...
Posted by Last Man Standing , Mar 03, 2009 10:43PM
@SEG
nice to see you're back. an old face around. its like the townsfolk coming out of their boarded up houses after the marauders have left.
Posted by guest , Mar 03, 2009 10:47PM
Billy boy's Tarjay fund down 33% in February. So much for a repeat performance... we were shooting for 40% a month...
Posted by guest , Mar 03, 2009 10:48PM
Obama is now an equity research whiz.
http://littlegreenfootballs.com/article/32967_President_Obama_and_Economics_101#rss
Posted by guest , Mar 03, 2009 10:52PM
@ 20
agreed
but
if we have low sustained multi year growth say 1-2%p/a for a turn around, all bets are off.
-18
Posted by StupidEquityGuy , Mar 03, 2009 10:58PM
@22, I like your handle. I have been telling people when they call, "I am still standing"...
During my absence from DB, I was working on my ground game. The local course recorded it and I have uploaded it to YouTube.
SEG at Augusta...
http://www.youtube.com/watch?v=bg8lSyGavc4&feature=PlayList&p=5AEDC6EFC0552434&index=21&playnext=2&playnext_from=PL
Posted by guest , Mar 03, 2009 10:58PM
Thanks SEG.
Nice to hear from you again. I thought you may have gone the way of the Shamwow and mayo people(i personally think they are now working for Treasury - hence my short).
January was tough on us all.
I had a great Feb - Short S&P, short financials (i thought trade was long in the tooth but worked), short long dated U.S. Treasury's, short Euro. Completely missed the gold trade but looking @ buying some now. Also looking @ going long energy equities (oil not natural gas).
IMHO,long ammo, at this point may be the best trade.
Enjoy the strawberrys.
Posted by StupidEquityGuy , Mar 03, 2009 11:18PM
@27, you will probably love this one... I am starting a hippy commune as a hobby with some old friends. No joke. Its not your normal hippy commune though... we have wine makers, beer brewers, and a staffed medical clinic.
It is slightly different version then one from the 70's. I have found a couple of acres near the ocean, with year around streams, weather that is 40 on the low and 80 on the high and little humidity compared to east coast US.
Am putting in a bunch of cabins with some friends from the old prep school/college days. Everyone (Dr's, Dentists, Engineers, ecta) are professionals who want a cabin on their own private camp ground, where everyone else is either like educated or like driven.
Its near a golf course, so we can make the camp into a rental for golfers or ocean/river fishermen when its not in use. However its also available to back into if this economic storm gets worse and some citys start to burn like the old LA riot days. The parallels with Argentina in 2001 is getting scary.
Be safe out there, just not in the market...
~SEG
Posted by guest , Mar 03, 2009 11:29PM
SEG - I told you to get out of those Canadian energy positions back in December! ;-)
--Calgary Schmooze
Posted by Last Man Standing , Mar 03, 2009 11:31PM
@SEG, sounds a bit like a nudist colony, but keep us posted
Posted by StupidEquityGuy , Mar 03, 2009 11:35PM
@ Schmooze, I thought you said something about "Her boobs were energetic when I dated her..." but then I think I was drunk when you said it...
@ 30, One hopes the women of camp are inclined to feel that way... at least topless, I hope the guys keep their shorts on though... all things considered...
~SEG
Posted by Anal_yst , Mar 03, 2009 11:53PM
@ SEG
Sounds like the Caribbean escape I've been tossing around the past year or so, except it, uh, actually exists in reality and not just in my dreams.
Posted by guest , Mar 03, 2009 11:57PM
@SEG- Hippy commune with wine makers and beer brewers. Fuck Yeah! I love swinger camps. I'll ask Bess if I can go.
SPODE
Posted by guest , Mar 04, 2009 12:12AM
"Take a look at that folks. That's a snapshot of today's volume for June GE $2.50 PUTs.
That's over 52,000 contracts traded today, controlling 5.2 million shares.
They were purchased for about 30 cents, which means that the price has to be under $2.20 for them to go "in the money".
This is a bankruptcy bet on General Electric by the third week of June.
That's right - General Electric."
http://tinyurl.com/ytn8ru
Posted by guest , Mar 04, 2009 12:28AM
One of my buddies just got back from a trip to Jamaica with his wife. His comments about Hedonism II (they were staying at Sandals Negril) were "After catching a few glimpses while walking down the beach, there are things I wish I could un-see" and "I think Hedonism III is meant for individuals of even-higher weight classes."
--CS
Posted by Anal_yst , Mar 04, 2009 12:57AM
@ 35
If you've got the bank to afford Musha Cay (www.mushacay.com), chances are you can afford to recruit/bring your own harem.
Of course, for those who can't afford $300k/week on vacation, well, I hear there's a nude beach somewhere near Sandy Hook, NJ, although reports vary from "um..." to "OH MY GOD MY EYES ARE MELTING!!!!" so go forth with caution.
Posted by Equty Private , Mar 04, 2009 1:12AM
Da Plane! Da Plane!
Posted by StupidEquityGuy , Mar 04, 2009 1:12AM
@ Sir Anal, I was serious about the job in the quality control side of the hard cider business if I build it. If we plant as many apple and pears as I think we might... we will have a need to test allot of "hard cider". lol
Its a non tropical location and has a low density of population, but it has an air port and deep sea ocean fishing or river fishing locally. Think world famous wild salmon fishing, giant squid, and world class green bud...
We have a retired airline pilot with 8000 hours or so, and helo pilot with about 1,000 hours of actual combat time in Iraq and Afghan, skipping the rest of his career time.
I figured it was time to setup some non market based businesses. None of these individually are about survival ism but if you add up the combination of them, there is a pattern of preparing for a worse case and being able to adapt to it if its gets worse then one expects it will.
Who knew in 1914 that all of the worlds stock markets would close for up to 5 months. Those kind of events have happened before, and only an idiot does not prepare for it to happen again in a world like today. Below is a quote from the Hoover Institute.
"...Perhaps the most remarkable feature of the crisis of 1914 was the closure of the world’s major stock markets for up to five months. The Vienna market was the first to close, on July 27. By July 30 all the continental European exchanges had shut their doors. The next day, London and New York felt compelled to follow suit. Although a belated settlement day went smoothly on November 18, the London Stock Exchange did not reopen until January 4. Nothing like this had happened since its foundation in 1773.
The New York market reopened for limited trading (bonds for cash only) on November 28, but unrestricted trading did not resume until April 1, 1915. Nor were stock markets the only ones to close in the crisis. Most U.S. commodity markets had to suspend trading, as did most European foreign-exchange markets. The London Royal Exchange, for example, remained closed until September 17. It seems likely that, had the markets not closed, the collapse in prices would have been as extreme as it would be in 1929, if not worse..."
http://www.hoover.org/publications/digest/13866677.html
Posted by mrpink , Mar 04, 2009 2:08AM
SEG! welcome back!
congrats on the great year...
-mrp
Posted by mrpink , Mar 04, 2009 2:12AM
to comment on the BSC article, as a former bsc alum... I'm saddened.
Deeply saddened.
I'll refrain from introducing my comments until I am finished dealing with all the shit I am going through now.
-mrp
Posted by Anal_yst , Mar 04, 2009 2:42AM
@ Mr. P
"shit you're going through now" = Birthday bash hangover?
Damn, musta been one helluva night!
Posted by mrpink , Mar 04, 2009 3:41AM
Anal_yst - Nah.. my mother had a heart attack this (tuesday) AM. I spent most of the day in the same hospital where I was born 28 yrs ago...
I kinda feel like Tickle Le Vickle... shit just never stops...
-mrp
Posted by guest , Mar 04, 2009 7:42AM
all you fans of EB's rack - Barron's has a piece this a.m. on the drop in neck lines vs. the drop in the mkts.
Posted by guest , Mar 04, 2009 10:14AM
Nice to hear from everyone again.
pink, sorry about mom.
My dad had a heart attack 3 weeks ago. Drove himself to the hospital. He is fine now. They triple stented him on his left side and he is good as new.
Good luck.
Posted by Anal_yst , Mar 04, 2009 10:27AM
@ Mr. P
Sorry to hear, hope she gets better.