Oct. 31 (Bloomberg) -- U.S. stocks rose, capping the biggest weekly gain since 1974, after JPMorgan Chase & Co. took steps to end the housing crisis, bank lending rates declined and earnings from companies outside the financial industry expanded four times faster than the previous quarter. [more]
Obama wins and tax rates will go through the roof and nobody has any money. If McCain wins deficits skyrocket and money worthless.
Heads you lose and tails you lose even more. Are our choices a pair of losers????
I think the market thinks so.....so guess what I am thinking......Dow 7500 the day after the election regardless who wins????????
On your mark, get ready............
American Express to cut 10% of work forceReductions amount to about 7,000 jobsBy Greg Morcroft, MarketWatchLast update: 1:09 p.m. EDT Oct. 30, 2008 [more]
There is not much I can add to DWOT and Ares......my creativity is at a bit low. [more]
If you look at her score.....she has destroyed the market because she is net short. In order for her to beat the market she must not only be right on the direction...but she must outrun a falling knife. In an environment where the market has crashed over 40%....that is quite an accomplishment indeed. [more]
I am not sure for what....but just get ready. Fortune comes to the prepared.....luck comes to those who are lucky......if you are lucky enough to make a fortune.....you should be prepared for it. If you are prepared and lucky.....then the liklihood of making a fortune is enhanced.
For those of you that have been reading this blog.....you are well prepared for these times.......
We still have a long long long way to go.........................
My suggestion.........Try a Bacardi Limon Bloody.....with extra lime..............and lots of horseraddish.
GM to start involuntary layoffs of salaried workers: WSJ - MarketWatch [more]
Now that our favorite primate housing analyst is off to WalMart to look for a new costume....there is little doubt he will return as a new character before Halloween....so in the meantime here is a quick HB update. [more]
I have green thumbed three companies over the last three days for my first net bullish position on CAPS since starting this game in February. Does that mean I am bullish??? Not a chance and likely not for a while. [more]
In his op ed piece...Mr. Buffett, in justifying buying stocks now makes the following statement: [more]
The following is the ENTIRE Buffett op ed piece in the NY Times. My comments are inserted in bold type. [more]
With all the volatility we have seen over the past few weeks....it could make anyone's head spin. But take Gunny Highway's advice from Heartbreak Ridge...Adapt, Improvise, Overcome.....but NEVER QUIT. [more]
SAN FRANCISCO (MarketWatch) -- Shoe Pavilion Inc. said late Monday it will close all of its 64 stores after 29 years in business. Shoe Pavilion was once the largest independent discount footwear retailer on the West Coast. [more]
In the previous blog it was Mervyns and Linens n Things shuttering all of their stores now this from the WSJ: [more]
""The symbol of all relationships among such men , the moral symbol of respect for human beings, is the trader.
We, who live by values, not by loot, are traders, both in manner and spirit. A trader is a man who earns what he gets
and does not give or take the undeserved. A trader does not ask to be paid for his failure, he does not ask to be
loved for his flaws. A trader does not squander his body as fodder, or his soul as alms. Just as he does not give his work except in trade for material values, so he does not give the values of his spirit -- his love, his friendship, his esteem --
except in payment and in trade for human virtue, in payment for his own selfish pleasure, which he receives from men he can respect. The mystic parasites who have, throughout the ages, reviled the trader and held him in contempt, while honoring the beggars and looters, have known the secret motive of their sneers: a trader is an entity they dread
-- a man of justice. ""
Atlas Shrugged [more]
To be successful in life and investing...you must maintain your character and resolve. Don't turtle everytime things don't go your way. Don't change your identity and pretend to start over....it is still you and you can't runaway from yourself in life. [more]
Since the day I started blogging on CAPs....this was my theme: [more]
The world is not coming to an end....and even if it was.....staying calm would be the emotion that rules the day. [more]
“With turmoil in the financial markets hitting its usual roster of deep-pocket donors, the Pasadena Symphony can’t afford to stage its November concert and has cancelled the performance, co-Executive Director Tom O’Connor said Monday.”
“‘We have been hit pretty hard by what’s been occurring. We planned a gala last fall and two major supporters, IndyMac and Countrywide pulled out,’ he said, citing the failed bank and the troubled mortgage lender.” [more]
The pundits still are missing the boat. We don't have a credit crisis because banks don't have money to lend.....we have a borrowing crisis because there are too few qualfied borrowers to borrow. Those that we loaned money to in the past few years were unqualified and are now defaulting and destroying banks' balance sheets. [more]
One of my favorite bloggers posed this question. [more]
First we have to distinguish between the consistent bears....many of the top players......and the flipflop bears........those whose positive or negative position seems to change week to week and then when the market moves in either direction they remind you how right they are.......all the time.... as if to compensate for some personal insecurity......I WOULD PUT CRAMMER IN THIS CAMP AND ANYONE WHO IDENTIFIES HIMSELF AS A PRIMATE. [more]
As many of you know I have been warning about this for about this for a while now. Posting similar blogs time and time again saying the same thing in a variety of ways. For what its worth.....we ain't even close to the bottom yet.....in my humble opinion. [more]
Benny, Bush, and Paulson
10 year Treasury Interest Rates UP another 7 BPS after after being up 20 bps after a rate cut.
Get ready for intest rates to keep rising and everything else to keep falling.
Unless of course a war breaks out where there is oil.......otherwise look out below.
Read my previous blog. [more]
As I told you a few days ago.......a rate cut would be the next arrow shooting to nowhere: [more]
Tycoon Hugh Hefner has been advised to cut back on staff at his multi-million dollar glamour empire as it struggles to cope during the global economic turmoil. [more]
WASHINGTON (MarketWatch) -- Pension assets declined by at least $1 trillion and may be down as much as $2 trillion over the past year and a half as the credit crunch tightened its grip on financial markets and the U.S. economy, the Congressional Budget Office reported Tuesday. [more]
SAN FRANCISCO - A federal judge has scolded California officials for failing to provide the billions of dollars a court-appointed receiver says is needed to upgrade the state's prison health care system. [more]
Patriot Act allows for delay of the elections in case of conflict. Conflict rising in the economy. Economy front and center in everyone's mind. Mind the gap as we approach the upcoming elections season. Is this the season for Bush's reason?????? [more]
Oct. 6 (Bloomberg) -- As Federal Reserve Chairman Ben S. Bernanke and his global colleagues fight the worst financial crisis since the 1930s, one danger is looming larger by the day: deflation. [more]
Now that the bank welfare plan is behind us.......and nothing happened.... Expect an expected interest rate cut to be the new salvation. [more]
(CNN) -- Fannie Mae said it will set aside the loan of a woman who shot herself as sheriff's deputies tried to evict her from her foreclosed home. [more]
NEW YORK (MarketWatch) -- California Gov. Arnold Schwarzenegger said that California may need up to $7 billion in emergency funding from the federal government as the state is almost running out of cash to pay for daily government operations, according to a report Friday in the Los Angeles Times. In an email obtained by the newspaper, Schwarzenegger wrote: "Absent a clear resolution to this financial crisis, California and other states may be unable to obtain the necessary level of financing to maintain government operations and may be forced to turn to the federal treasury for short-term financing." [more]
So we are probably looking at an effective rate of around 15-20%. [more]
Get Ready for the Bankruptcy Parade [more]
Ara gave an interview on CNBC this morning pleading for assistance for homebuilders. [more]
US 'casino' mentality blamed for planet's meltdown
By ALAN CLENDENNING, AP Business WriterTue Sep 30, 5:21 PM ET [more]