I am willing to bet that Sirtris is trying to knock off the popular formula developed by Longevinex. [more]
Take a second and vote on this poll, much appreciated.
Regulators Close Two More National Banks
By Alison VekshinBloomberg News [more]
This from Safe Haven: [more]
Jobless claims highest since late March [more]
This blew my mind.... [more]
Alrighty then. So after 4 months on caps I have discovered that I have no idea what I am doing.
I am glad however to at least have learned that when I start investing real money that I will do exactly the OPPOSITE of whatever I think is a good idea, or perhaps just follow Dwot and TDRH =D
Record number of California homeowners default on mortgages in 2nd quarterDefault notices are recorded on 118,020 homes from April to June, up 125% from the same period last year, a real estate information service says.By Peter Y. Hong, Los Angeles Times Staff Writer
11:18 AM PDT, July 22, 2008 A record number of California homeowners defaulted on mortgages last quarter, a real estate information service reported today.
Mortgage servicers recorded "notices of default" on 118,020 homes from April to June, up 125% from the same period in 2007, according to DataQuick Information Systems. That total was the highest since the firm began recording foreclosure statistics in 1992.
Most of those homeowners will likely have their homes repossessed, likely prolonging the current foreclosure crisis.
The pace of defaults slowed in the second quarter, however, with the total rising 6.6% from the first three months of the year. By contrast, first-quarter foreclosures had shot up 39% from the last quarter of 2007.
DataQuick president John Walsh said the relatively small quarterly increase may show "some lenders are starting to prioritize workouts with homeowners instead of grinding things through the foreclosure process," but also noted banks "may just be swamped and can't handle processing any paperwork."
Notices of default mark the first stage of the foreclosure process, when a borrower misses several monthly payments. If the borrower is unable to work out an agreement with the lender, the home is foreclosed.
DataQuick estimates 78% of homeowners in default eventually are foreclosed, compared with 52% last year.
The second-quarter default figures were a record high for all but a few of the state's 58 counties, including Los Angeles County.
Foreclosed houses accounted for 40% of homes re-sold in California from April to June, up from 5.4% a year ago. The percentage varies widely across the state. Foreclosures accounted for only 3% of home resales in San Francisco County, but made up 75% of resales in Merced County.
Most of the loans that went into default last quarter were originated in 2005 or 2006. During that period, home prices "went too high, fueled by the availability of dicey home loans. An added element was speculative buying," Walsh said.http://www.latimes.com/business/la-fi-foreclose23-2008jul23,0,2070716.story [more]
Wachovia Swings To 2Q Loss; Dividend Cut To 5 Cents/ShareJuly 22, 2008: 07:51 AM EST
DOW JONES NEWSWIRES [more]
So i put a red thumb on Bank of America on 7-11-08. It goes up 32%....sweet.
Just out today: Bank of America profits DOWN 41% AND THE STOCK GOES UP 3% TODAY?
Mr. Market is apparently on crack.
If people on the street are going to have to go through new layers of beaurocracy to short sell stocks, will CAPS adjust for this? [more]
What the Eff is going on with OIL dropping, financial giants and home builders rallying? Not to sound like I am hoping for an apocalypse, but this crap is killing my rating....LOL
Google "chimp" and hit I'm feeling lucky.
IndyMac borrowers line up in Calif. to withdraw their cashMon Jul 14, 2008 5:52pm BST
By Gina Keating [more]
I've had knowledge of the Indy Mac Bank takeover for about a week, and failed to post it. It was timely, but I've been overwhelmed by this blog, starting a new business, winding down the old business, investing in this "new depression era", three kids, a wife, 2 dogs, a bird, a ferret and 2 snakes (plus fish, parents and in laws). Burnout ensues. I only get to post about 40% of what comes across my (virtual) desk. [more]
Those guys at MIT are at it again. 14 Years and solar and wind will provide all our energy needs. [more]
Earlier this year I had to lay off several of my employees. One of them I was recently able to bring back and I was asking him about how things were going. He told me this interesting story... [more]
Siemens Plans to Cut 16,750 Jobs to Boost Margins (Update3)
By Eva von Schaper and Sheenagh Matthews [more]
Why punish the supplier of a vital resource? How is that going to increase the supply? [more]
Did you know that robots make up 3% of the workforce in Japan already? With the coming demographic changes that number is going to explode. This might lead to an extremely effecient economy....for those who own or produce the robots. But, what will the rest of the people do? [more]
It has been 3 months since I started this fund on Marketocracy and here are the results so far: [more]
Has anyone else seen this guys web site located here. Although signal timing is widely renounced in circles of the elite I can't help but wonder if there really is something to it... [more]
What does it mean when Fannie Mae AND Freddie Mac are taking the biggest nosedives since they went public? I don't know but it can't be good. [more]
Time to buy solar stocks??? [more]
Manhole Covers Stolen For Scrap MetalBOSTON (WBZ) ― Fall River police say their city is the latest to be hit with a growing problem across the country - manhole covers and sewer grates stolen from streets for money.
Sgt. Paul Bernier told WBZ 12 of the cast iron covers have been stolen in the last month.
Bernier said there's a serious safety concern because someone could fall in or a car could be damaged.
According to a report in USA Today, hundreds of covers have been ripped off in several states the last three months - another sign of the sluggish economy.
In Fall River, the covers reportedly weigh between 125 and 150 pounds. According to the Herald News, the city pays $125 each for them. They're sold for about $10 as scrap metal.
Last September, two people were arrested in Manchester, New Hampshire for stealing manhole covers. More than two dozen sewer grates were also stolen in Pembroke and Epsom for scrap metal.
(© MMVIII, CBS Broadcasting Inc. All Rights Reserved.) (http://wbztv.com/local/manhole.covers.sewer.2.760230.html) [more]
WTF, my rating spiked to 96 and then dropped to this?
Mr. Market needs some ritalin if you ask me...
I know some of you (abitarecatania) have posted some pretty telling and powerful information about Ken Fisher, but I think his idea about the global yield curve has some vailidity (although I have not tested this idea yet myself). [more]
And now that you are here....somebody please buy my condo....Jesus H...I lowered the price and everything...there's even granite countertops in it...
And the squatter will be gone by tomorrow....I promise.
I actually had to kick a squatter out of my luxury condo today...NO JOKE!
I was getting all kinds of calls from the neighbors, apparently this guy was supposed to be renting a room from me but he had not payed. One of my friends was trying to do me a favor and found him on craigslist. I had to go get a police officer and evict him today in person! Man it's all coming true!
Just two months ago I thought you were crazy....
This is driving me nuts. I just posted a chart in my blog and it shows up for a second and then dissappears. What am I missing here?
It has been 3 months since I started this portfolio on marketocracy to test a variance of Joel Greenblatt's popular "Magic Formula." The way the selection process works is similar but not identical to the original method (I use P/E and ROIC as the two variables). Then I simply sort the results by stock scouter rating and buy anything with a 9 or 10. [more]