The short-term underperform contests have turned into "Who got luckiest with the timing of their 3x Bear ETF's?" contests. See, the market is always going up and down. At some point, the S&P 500 has reached its nadir for the duration of the contest, and at that exact point, 3x Bear ETF's are guarantied to win, because they'll go down something like 30% while the S&P goes up about 10%, for about 33 pts each, times however many picks are allowed, with 100% accuracy. And all the poor shmucks who have unluckier timing are just contributing a warm body to (potentially) increase the dollar value of your prize. [more]
A recent Fool.com article speculated on possible reasons Miscrosoft (MSFT) might be hoarding cash. Was it a joke? These are times when cashless companies are going to go out of business or, if large and well-connected enough, get nationalized by our emperors in Washington. If we don't go outright socialist (or Nationalist Socialist), this will be a huge opportunity for companies with cash on hand. Warren Buffett achieved >25% CAGR of Berkshire Hathaway's book value for about half a century, growing $7/share into six figures per share, using precisely the same method that will be ridiculously easy for the next couple of years: buy companies and their assets at 50%, 60%, 70%, or even 90% off. And not 90% off their 52-week highs, which may have been more than 10 times too high in the first place, but 90% off their real value. Some of those deals are coming. [more]
...of almost my whole AIB position. I bought a lot of shares < $1.20, and sold those and more at $1.48, greatly mitigating the loss I suffered by holding AIB down from the $5's.
On a completely unrelated note, Google Finance has this news for those interested in Valero:
Can someone tell me soon and accurately what happens to EWS, EWA, EWH, etc. if BCS goes to 0?
I bought AIB for around $1.15 today. I really don't know whether or not it's going to go to 0, but I figure my odds of a triple are good enough to justify risking a strikeout. [more]
...but what about when it's your privacy being violated? What if they decide you're "insider trading" and search your emails? What if they have a personal vendetta against you for betting against the stock they were invested in, and they plant child porn on your computer? [more]
Good news! They have "Kung Pow: Enter the Fist" at Hulu.com! Oo-ee-oo-ee-oo-EE!!!
You may have already seen an article on this, but I haven't, so here it is. [more]
Join this contest for free, have fun, and make somebody richer. It could be you! (It's on pace to be me - tee hee!) [more]
Does anybody have anything new to say about Bolt Technologies (BOLT)? I really wish someone would say something about microcaps like this when they seem to be facing impossible situations (like depressed oil prices in BOLT's case). They have a lot of cash (1/3 of their market cap) and no debt, but are they making any money? Are they just going to sit around and wait for $100 oil again? Does anybody know any way of finding out? [more]
One of the most confusing things in Christian Doctrine is the relationship between Grace and Deeds. On the one hand, the hand that we are able (or think we are able) to understand, there are many things in the Bible that Christ's disciples are told to do. There are many things disciples are told not to do. Deeds. Simple enough: if you want to follow a religion, you have to do the deeds of that religion. It makes sense. [more]
It's like night and day. I clicked on dwot's newest post, and read what she had to say about Social Security's insolvency. Then I clicked on a recent post from alstry. I also made the mistake of reading some of the comments. [more]
From a recent comment on djemonk's blog: [more]
Has anybody else noticed the Hypno Toad seems to have a cult of glassy-eyed followers? It's like some weird sci fi movie where all these people in robes are wielding torches and bowing before a giant toad. [more]
I bought ACAS in real life below $3, and bought more around $4. I forgot to rate it in CAPS though, until it broke $5. Maybe my rating would be better if I were paying attention. [more]