Laurence Fink kindly asks all you financial journalists, bearish money managers and talking heads to shut the hell up about a stock market bubble.
Everything’s fine, the BlackRock chief wants to assure. Totally normal. “I think things are playing out as they should,” he told a Wall Street Journal executive-breakfast session. So stop talking about things going wrong, damnit: The Finkster promises us that the old crisis is basically history and that we won’t see two crises in a row.
In the Gospel According to Larry (books on video edition), we learn that
- the fact that the dollar is in the crapper is great news,
- risk-transparency is improving (he thinks),
- and those funny derivatives that sent the global economy into a two-year long tailspin the likes of which haven’t been seen in 70 years are “a good thing.”
Oh sure, he sees some problems (“Where will capital come from to finance America next year?”) and admits some missteps (he totally whiffed on the commercial real-estate thing). But even there, a silver lining: Things are looking up, and BlackRock is back in that business.
So, boo birds, stop wishing it all to go wrong. Larry’s betting on good karma.
Posted by guest , Nov 11, 2009 11:21AM
This video has absolutely nothing to do with the headline. I think you've found the most un-entertaining question and answer during the session.
Posted by guest , Nov 11, 2009 11:28AM
"....we won’t see two crises in a row."
Yep. Back then, that's what they remembered as being said before they ran out of life boats on the Titanic.
Posted by guest , Nov 11, 2009 11:32AM
Llaroyd Finkenfein
Posted by guest , Nov 11, 2009 11:38AM
"...we won’t see two crises in a row."
WTC 2
Posted by guest , Nov 11, 2009 11:50AM
"...we won’t see two crises in a row."
JFK gets assassinated and then his alleged assassin gets assassinated.
Posted by guest , Nov 11, 2009 11:57AM
@5 I think you need the Joker Briefers help.
Posted by guest , Nov 11, 2009 11:59AM
WWI ended 91 years ago today; there was never a crisis in Europe after that.
Posted by guest , Nov 11, 2009 12:00PM
Quit worrying about the market. The market will go down when I tell it to.
Llaroyd Finkenfein
Posted by guest , Nov 11, 2009 12:02PM
"...we won’t see two crises in a row."
TARP 1
Posted by pfluger , Nov 11, 2009 12:05PM
There is no problem. The unemployment rate will soon drop to 5%, and the budget deficit will drop to manageable levels.
Nationalized healthcare will take care of the uninsured, and peace will reign in the Middle East and worldwide. Commodity prices will stabilize, and there will be no inflation.
The Dow Jones will hit 15,000 within a few months, and then it will be off to the races!
-lf
Posted by guest , Nov 11, 2009 12:10PM
@10 Now didn't I just say that motherfucker?!
Llaroyd Finkenfein
Posted by guest , Nov 11, 2009 12:12PM
@1: Shazkins extended the video now
Posted by pfluger , Nov 11, 2009 12:23PM
@11:
I thought I'd provide some specifics on what the people can expect to occur in the next 12 months.
We'll party like its 1999.
- lf
Posted by pfluger , Nov 11, 2009 12:28PM
My only question is, has Gasparino verified these upbeat predictions?
Until Gasparino weighs in, we will keep a cautious stance here at JT Marlin Securities, the pre-emininent white-shoe firm where we always put the interests' of our customers above all else.
We do God's Work here too, ya know.
Posted by guest , Nov 11, 2009 12:30PM
13 The people don't need no specifics. They get confused with specifics, and then they end up walkin' round with their fingers up their asses doing nothing. Just do what I say and put your measly dollars in the stock market like I said and STFU - fo I beat yo ass.
Llaroyd Finkenfein
Posted by pfluger , Nov 11, 2009 12:42PM
@15:
So, what you're saying is that TGFD and MM and Maureen Dowd and the folks on the AIG protest tour bus don't know what the fuck they're talking about??
Damn -- They sound so regal.
Posted by guest , Nov 11, 2009 12:54PM
"bubbles are occurring when nobody knows about them" - what? Everyone was speculating in the 1990s if there was an internet/tech bubble. Everyone was asking in the mid-2000s if there was a housing bubble. I don't understand how these a-holes keep their jobs. Bob Doll spent the first half of 2008 saying the worst is over, get into equities, this goat-fucker is telling people to gamble on his biased wisdom. I hope he gets raped in prison.
Posted by guest , Nov 11, 2009 1:26PM
Hey Larry,
Everyone knows that you and et al, are painting the tape because the year is comming to an end and you have to show a profit. So stop trying to lie to the masses because we are not stupid!
Posted by guest , Nov 11, 2009 1:30PM
18 STFU. The only painting goin' on here will be my jizz on your face.
Llaroyd Finkenfein
Posted by guest , Nov 11, 2009 2:12PM
I think we can all rejoice Shazam is better than GM.
Posted by guest , Nov 11, 2009 3:37PM
@20 Lets not get too fucking carried away. While GM set the bar quite high, Shazhat has in his short time here shown flashes of absolute drivel. I wouldn't be too early on this call.
Posted by guest , Nov 11, 2009 3:49PM
I don't think there ever was a GM. I bet think someone else wrote as GM and that writer also writes under another name here. BL always defended herself and her work. I don't think she ever defended GM nor did GM his own alleged self. So, I don't think there was a GM.
Posted by guest , Nov 11, 2009 4:05PM
What? 22=GM.