I saw a wire story that Spam was cranking up production, in anticipation of the increase in demand for this budget product. But: have you seen the price lately? It ain’t cheap no more. A 12 oz can goes for $3; so, it is $4 per pound; hardly a discount food item, since this is the same price as cheapie ground beef (they recently had a sale for “only” $2 a can). [more]
When I first joined you Fools, I picked a dozen stocks I was familiar with. These did quite well: my ranking was in the low-90’s, and the score was 100-150. They were stocks I was familiar with and knew well for many years. I got the 100/100 charm (a note said that such a person had much potential to be a good, long term investor of merit), and the much-coveted lightening bolt. [more]
Tee, hee, hee (giggling like a school girl). [more]
Oh, c’mon. Pop open another cold Bud. Grab another handful of generic potato chips, and set a spell. Relax. What you are going thru right now is just as bad as the infamous 1929 stock market crash, and certainly worse than the tech bubble burst of 2001. [more]
The $700B Paulson bailout still has $50B unspent in the first half; the second half is also yet to be decided what to buy. Congress is working on a $500B second stimulus package. Detroit wants $25B. Many others are lining up outside the door. Everyone has their hands in the taxpayer cookie jar, taking out huge handfuls of goodies, saying “boy, do I need this to prevent catastrophe and starvation”. [more]
Should the US taxpayer bailout Detroit? No, no, and no. Yeah, I acknowledge that letting Chrysler, GM, and F go chapter 11 will cause millions in unemployment. So what? [more]
About a month ago, you saw the credit markets totally seize up. You were scared to death. There is no one on the face of this planet more knowledgeable than you (the CEO of a successful investment bank) about credit markets, so I was equally scared out of my pants. [more]
Well, now: my real portfolio has been underwater for more than a month, and now my Fool portfolio is underwater (darn gambling stocks). So, here goes: [more]
Yeah, I know, my stocks (the real ones, not my Fool one) has been clobbered the past 2 days. On the good side, the retreat has been orderly and uniform. None of this schizophrenic ups and downs like the Magic Mountain roller coaster. I expect many more days of such uniform, expectant decline. At some point, a classic bull market will exert his/her self, but this will not happen very soon. I expect normal market behavoir to re-assert itself.
OK, I whipped out my trusty HP 12C. By my calculations, we "only" need 6 more days like today to take us back to where we were a month ago. Recovery will be faster than most believe, recession or no. Just checked today, and my hi-beta stocks are down "only" 50%; a mere week ago, they were down 75%.
Sorry to interrupt your party; as you were.
Certainly feels like it. TED spread, VIX, LIBOR, all drifting down in an orderly manner. No evidence of panic equity dumping last 8 minutes of trading. Max-Min daily spread diminishing. Investors did not panic when they got the GDP numbers. It's beginning to look a lot like Christmas.