miami's Profile
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Entry: All The Ex-President's Men
posted by miami
Jun 02, 2008 4:10PM
Because he's in charge of the country as opposed to merely being in charge of updating the 'Estimated TPS report flowthru for Project Arcturus v3.1' like random bankers are.
Entry: You Have No Idea How Lucky You Are
posted by miami
Jun 02, 2008 4:15PM
3:59 Jimmy's is not where u go for a poor party.
Subway Inn ftmfw.
$3 pbr? Effing frat boyz.
Entry: Bloomberg's Guide To Weathering The Storm
posted by miami
Jun 04, 2008 3:39PM
Only hire people smarter than yourself!
Be first at work and first to leave!
Work smarter not harder!
It's hard out here on a ....wait.
Entry: Dating Ms. Junk Bond
posted by miami
Jun 05, 2008 2:22PM
Rob Yu from Citi [500k+] getting accepted is hilarious. I hope he reports back from whatever blog.
The photo is equally good.
Entry: Breaking: S&P Cuts MBIA and Ambac Ratings
posted by miami
Jun 05, 2008 2:50PM
I had 2:31 in the pool, hope I won something good!
Entry: Breaking: S&P Cuts MBIA and Ambac Ratings
posted by miami
Jun 05, 2008 2:50PM
I had 2:31 in the pool, hope I won something good!
Entry: Not Even A Junk Bond
posted by miami
Jun 13, 2008 10:34AM
Nice call on Big Brown, clearly not a value manager while top-ticking an injured horse running against rested comp...3-10 was horrific.
Entry: Scenario Contest Friday
posted by miami
Jun 13, 2008 1:00PM
tackling dummy for Charlie Gasparino on his coffee break
Entry: Jim Cramer: The Jim Cramer Gravy Train Is Over
posted by miami
Jun 16, 2008 2:25PM
I'll take JJC's 30% CAGR over 13+ years in his fund any day of the week from my current HF managers.
Entry: The Earnings Story Changes, The Actors Are Different, But The Spread Sheet Remains The Same
posted by miami
Jun 16, 2008 4:35PM
Erin Callan will show you how to grind xls!
Entry: Who Is Behind The Fannie Mae-Countrywide Story?
posted by miami
Jun 17, 2008 11:34AM
'It wreaks more?'
Say no to Crack, Johnny Boy!
Entry: Help Us Solve The Case
posted by miami
Jun 17, 2008 4:22PM
Israel, Brazil, several Caribbean nations and some in Central America.
Blame it on Rio.
Entry: DealBreaker's Guide To Living Just Above The Poverty Line
posted by miami
Jun 23, 2008 7:52PM
All the clueless missed the obvious answer and tie-in for the drinking [incl the author] - AC - drinks are free in any casino, Foxwoods, etc.
As the USD is strengthening, you can go back up to Canada @ the Sundowner, et al, and get cheaper booze and girls. Also there are multiple casinos there as well for further free drinking.
Bus tix to AC from NYC ~ $18, plus they give you $20-40 in coins and/or match play coupons. +EV.
All those fired and about to be fired can go QQ now. Grammar nits can QQ while DIAGF.
Entry: Bear Stearns: What Can We Do To Show Everyone We Mean Business?
posted by miami
Jun 25, 2008 3:32PM
I'm not bidding until I see an official Ace's re-used Paper Clip.
The roach clip joke woulda been funny 6 months ago.
Entry: Who Killed Bear Stearns And Then Laughed About It At Denny's? We're Gonna Go With NO ONE
posted by miami
Jul 01, 2008 2:13PM
I love the arrogance of the BSC execs continually:
1) telling the rest of the Street to go cuff themselves,
2) smoking pot, playing bridge, and sunning in Florida while Rome burns,
3) Not having anyone in Risk Mgmt know what the positions were
4) Having the guy supposedly in charge of knowing the positions not know them
5) Keeping their entire capital base in the hands of fast-money hedgies and overnite loans that can be pulled at any time,
6) Being shocked that firms may stop loaning you overnite money even though that's what killed Drexel, et al,
7) Shouting it... is... a... conspiracy! if anyone mentions that BSC is [was clearly] over-levered, or if they stop trading with them, or if they decide to stop lending them money, or if management is clueless, or if anyone notes you are lying to the press and your clients and employees, or if GS/CS/DB decide they are maxed out on BSC novation requests, or if they decide to ask any 'probing' questions like - do your counterparties think you will be in business next week?
8) Pretending that anyone needed to kill Bear Stearns, while BSC execs were busy getting shooting dope, borrowing from the mob, going on vacation with the proceeds, and committing suicide by not knowing what positions they had on or how risky they were or how much they were losing every day, as the smarter employees who could leave while the getting was good, left, while running a leverage ratio of THIRTY-FIVE TO ONE in less liquid assets than GS, JPM, MS, ML.
Nobody on WallSt interferes with a man who's busy killing himself. There's simply no need.
Entry: Jeff Epstein's Lucrative And Mysterious Profession
posted by miami
Jul 02, 2008 2:14PM
$100m on $8bn for Les Wexner is 1.25% fee, not unreasonable for active mgmt.
Entry: Write-Offs: 07.02.08
posted by miami
Jul 03, 2008 11:09AM
Given what JPM-C did to Bear Stearns, frankly I'd expect nothing less.
Entry: The "Wizards" of Short Selling
posted by miami
Jul 03, 2008 11:51AM
The 'encased in ice in TimesSq' nonsense would have been more impressive if
a) the ice wasn't a foot away from his body, and
b) they weren't pumping warm air on him.
Entry: Layoffs Watch 2007-2008: The Total Damage So Far
posted by miami
Jun 02, 2008 3:57PM
1:55 [and others] are evidently clueless newbs, probably why they were fired:
'I suspect that unemployment numbers only reflect people currently receiving benefits (vs. those still unable to find jobs).'
Durrrrrrrrrrrr...tell me about the rabbits, George.
This trope gets brought up time & again by those ignorant of how the government measures the unemployment rate. It has nothing to do with 'collecting' or 'benefits' AT ALL WHATSOEVER.
This is really basic stuff, anyone who works on WallSt, should know it by now, and it's been mentioned 1000x of times.
"Where do the statistics come from?
Early each month, the Bureau of Labor Statistics (BLS) of the U.S. Department of Labor announces the total number of employed and unemployed persons in the United States for the previous month...
Some people think that to get these figures on unemployment the Government uses the number of persons filing claims for unemployment insurance (UI) benefits under State or Federal Government programs.
But some people are still jobless when their benefits run out, and many more are not eligible at all or delay or never apply for benefits. So, quite clearly, UI information cannot be used as a source for complete information on the number of unemployed.
The unemployment rate is defined as the number of unemployed persons divided by the labor force, where the labor force is the number of unemployed persons plus the number of employed persons. The official definitions of these figures are as follows:
Employed persons (Current Population Survey).
Persons 16 years and over in the civilian non-institutional population who, during the reference week, (a) did any work at all as paid employees, worked in their own business, profession, or on their own farm, or worked 15 hours or more as unpaid workers in an enterprise operated by a member of the family, and
(b) all those who were not working but who had jobs or businesses from which they were temporarily absent because of vacation, illness, bad weather, childcare problems, maternity or paternity leave, labor-management dispute, job training, or other family or personal reasons, whether or not they were paid for the time off or were seeking other jobs. Each employed person is counted only once, even if he or she holds more than one job.
Unemployed persons: Persons 16 years and over who had no employment during the reference week, were available for work, except for temporary illness, and had made specific efforts to find employment sometime during the 4-week period ending with the reference week. Persons who were waiting to be recalled to a job from which they had been laid off need not have been looking for work to be classified as unemployed.
Actively looking for work may consist of any of the following activities:
* Contacting: An employer directly or having a job interview;
A public or private employment agency;
Friends or relatives;
A school or university employment center;
* Sending out resumes or filling out applications;
* Placing or answering advertisements;
* Checking union or professional registers; or
Some other means of active job search.
Labor force (Current Population Survey). The labor force includes all persons classified as employed or unemployed in accordance with the definitions contained in this glossary."
www.bls.gov