moneymcbags (< 20)

CEO Interview: He puts the KIT in KITD

August 31, 2010 – Comments (4) | RELATED TICKERS: KITDQ

As you all know, Money McBags has thoroughly covered KITD on When Genius Prevailed over the past several months as it is a small, controversial company that Money McBags believes has big potential and yet is extremely cheap because it is fundamentally a bit weird and simply misunderstood.  [more]

8/30/10 Midafternoon Report: Warren Buffett turns 80 as he and the S&P race to 100

August 30, 2010 – Comments (0) | RELATED TICKERS: DGIT , INTC

The market was fairly quiet today with many investors spending their last summer week basking in the sun, sipping on margaritas, and enjoying the last days of the S&P above 1,000.  In fact news was so thin this morning that the NY Times business cover story told you about retargeting as the reason why you keep being offered the same candles on every website you read.  Then near the end of the day, for no reason other than inertia, the market nosedived as if it were Kirstie Alley and it were diving for a box of Krispy Kreme doughnuts.  [more]

8/27/10 Midday Report: Economy GDPeed on

August 27, 2010 – Comments (1) | RELATED TICKERS: BRLI , JCG.DL , INTC

The market was up today despite the government lowering their forecast of Q2 GDP to 1.6%, down from the 2.4% they fabricated last month and likely up from the lower number they will make up next month in their "hold the shock and hope for no awe strategy."   Growth in the economy has now slowed to the pace of a 150 year old tortoise with MS and a hella bad case of hemorrhoids.  Most of the downward revision was caused by government analysts incorrectly assuming that companies added more inventories than they actually did which wasn't just a result of analysts being bad at their jobs but also being bad at math.  [more]

8/26/10 Midevening Report: Market continues to sag as it lost its benefits package and can no longer afford viagra

August 26, 2010 – Comments (1) | RELATED TICKERS: BRLI , JAS.DL , HP

The market was down again today because it was open and because good news seems less likely than Nouriel Roubini going long FAS or Ron Paul posing as the centerfold for the FED's monthly newsletter (we hear his likes would be small government, long walks on the beach, and insanity).  Investors anxiously await tomorrow's latest reading on GDP (Money McBags has the under) and Ben Bernanke's speech given from the Fed's annual hoe down and jamboree retreat in Jackson Hole, Wyoming (which is nowhere near as spacious as Nikki Jackson's hole, but the food is apparently much better).  As the economy limps in to Q3 (or whatever is slightly slower than a limp, perhaps a crawl, a drag, or the lines at Amy Winehouse's kissing booth), economists (Money McBags would call them witch doctors but that would be an affront to a respectable field like black magic) are lowering their Q2 GDP guesses faster than Tiger Woods can lower his standards, so tomorrow could be one giant clusterf*ck of a day.  [more]

8/24/10 Midday Report: Housing boom now bigger bust than Dolly Parton's, though alot more affordable and without the old lady smell

August 24, 2010 – Comments (0) | RELATED TICKERS: KIRK

Money McBags tweeted, facebooked, and even semaphored that he will be traveling Monday through Wednesday of this week and thus likely would be absent from When Genius Prevailed for a few days (even God took one f*cking day off), but with the market going back to hell (or at least the 666 low), Money McBags is going to make today what is called a busman's holiday (or what we here on WGP call a bustman's holiday).  That said, he will have to be brief so today will be some quick hits at what is going on, tomorrow may just be a tweet or two, and Thursday Money McBags will be back with his regular column and analysis.  [more]

8/20/10 Midevening Report: Market keeps going down, investors worry it may develop lockjaw

August 20, 2010 – Comments (0) | RELATED TICKERS: HP , DELL , KIRK

The market continued to stumble today as if it were Heather Mills on an inclined treadmill.  With a dearth of macro news, the sell off was still a result of yesterday's craptacular economic data where new claims for unemployment jumped, productivity in Philly shrank, and as always, Hannah Hilton remained retired (and please Hannah, come back to us and if not for yourself, do it for the kids).  That said, there was one kind of interesting piece of data today which seems about as good for the economy as downloading pictures of Cameron Diaz is for your computer (and interestingly they say the fact that she causes so many viruses has nothing to do with her acne) and that is that a record number of people with Fidelity accounts are taking early withdrawals on their 401Ks.  So with social security already likely to be insufficient in the coming years (and perhaps the years would stop coming if we took away their Spankwire.com privileges), with unemployment about to start spiking up again, with the government deficit approaching a billionty trillion dollars (give or take a billionty), and with 401Ks already depleted due to the stock market sell off, it's nice to know that the safety net for Americans is slimmer than Ben Stein's chances of winning economist of the decade, and getting slimmer by the day.  [more]

8/19/10 Midnight Report: No work and no pay makes the market a dull buy

August 19, 2010 – Comments (4) | RELATED TICKERS: WGO , GM , SPLS

Look out belowwwwwwwwwwwwwwwwww as the market is falling faster than Eliot Spitzer's pants at the Mayflower hotel.  Investors have finally decided to ignore the marginally good earnings data this quarter which was a lot of bottom line growth with weak toplines and instead pay some attention to macro data which is trending worse than Club Muzique's rating among Chubby Chaser's members (and yes, Money McBags had to do way too much heavy lifting for that joke with not much payoff, but it is what it is).  [more]

8/18/10 Midnight Report: Market flatter than 13 year old girl in honor of Roman Polanski's birthday

August 18, 2010 – Comments (2) | RELATED TICKERS: KITDQ , TGT , BJS.DL

The market was up modestly today as earnings were mixed and macro data was as non-existent as leprechauns, free will, and married women who swallow.  Seriously, macro data was more fallow than Betty White's uterus so investors were left to sift through earnings reports and finally get around to petitioning the CFA society for their money back for wasting their time getting that worthless designation.  [more]

Small Company Update: Lets get KIT Digital, let me hear your VAMS talk

August 18, 2010 – Comments (0) | RELATED TICKERS: KITDQ

KITD reported their Q2 earnings the other day and as promised, Money McBags is here to break it down for you with the good (EBITDA), the bad (share buyback talk? ugh), and the ugly (the actual video presentation where management talked in front of a wall of TVs, one of which was showing a hot chick model what looked like a wedding dress right above the CEO's head in his initial overview, one of which looked like it was showing a snuff film during KITD's CFO's financial overview (check out the second TV from the bottom left of the screen), and one of which had someone doing the WWE suck it motion right above the President's head on the right side of the screen about 2 to 3 minutes in to his company overview.  Seriously, Money McBags was more interested in what was playing in the background than management's analysis, though he only laments that he didn't have a remote control to put some of market mover Jodie Fisher's greatest works on one of the TVs.  That said, it was much better than the video presentation from a couple of quarters ago that looked like it was shot in someone's basement and was just missing management holding up a newspaper with the current date to make it look like a ransom video).  [more]

8/17/10 Midevening Report: Market gets higher thanks to POT

August 17, 2010 – Comments (1) | RELATED TICKERS: WMT , HD , KITDQ

The market was up huge today, figuratively poking bears in the eye as if they were watching a new Japanese 3D movie, thanks largely to earnings from WMT and HD, a take out bid piped in for POT, and a continued disbelief in macro economic news which has been trending worse than Nouriel Roubini's Q score at a meeting of the Fed.  PPI rose for the first time in 4 months due to higher prices for food, consumer goods, and Playboy thanks to Kelly Brook's very NSFW appearance.  The .2% rise was inline with analyst guesses which makes analysts 1 for the last millenium and shows that inflation is currently in check.  In other macro news, industrial production beat analyst guesses by rising 1% as factories churned out more computers, appliances, automobiles and sh*t most people can no longer afford.  Of course the number released by the Fed is about as believable as Enron's accounting or OJ's alibi (umm, he had an alibi, right?) since as part of their "hold the shock and hope for no awe" strategy, they revised last week's number downwards from a .1% increase to a .1% decline.  Given that, Money McBags predicts next month the Fed will revise this number down to something less than 1% but no one will care because backwards looking revisions are never as fun as false hope (or backwards looking visions).

   [more]

8/13/10 Midafternoon Report: Stocks continue to go down, say they are just rehearsing to play Paris Hilton in upcoming biopic

August 13, 2010 – Comments (0) | RELATED TICKERS: EPAY , JWN , BLK

Money McBags was in a good mood this morning when he learned that a woman named Cynthia Cooper-Dyke is being inducted in to the Basketball Hall of Fame (no doubt for her love of boxing out, her ability to play such solid defense that she would literally be "in the shirt" of her opponent, and her intense on court demeanor where she was known for liberally giving tongue lashings to those who got in he way), but that changed when the market began to sink as a result of mediocre macro news and Bennie B.'s henchman, Thomas "T Ho" Hoenig getting all inflationary on the market and saying rates need to rise.  [more]

8/12/10 Midafternoon Report: Cisco getting mixed signals as customers not sure they want to go all the way

August 12, 2010 – Comments (0) | RELATED TICKERS: CSCO , AAP , HSH

Stocks were down again today as the market is still reeling from yesterday's crap trick (the crap trick being 3 large economies announcing things are getting crappier in a 24 hour period) and suffered further bad news with CSCO missing revenue targets, new claims for unemployment surging, and deflation taking over as the new inflation.  [more]

Small Company Update: ZAGG me with a spoon

August 12, 2010 – Comments (1) | RELATED TICKERS: ZAGG

Money McBags apologizes for the delay in getting this up but he had a brilliantly written piece with prose that would have made even Roberto Bolano shudder but somehow he screwed up in saving it and all was lost (like Alan Greenspan's credibility or Kelly Brook's bikini in the upcoming Piranha 3D) so he'll try to recreate it, but just know it will never be the same.  [more]

8/11/10 Midevening Report: Market goes down furiously, swallows long positions

August 11, 2010 – Comments (0) | RELATED TICKERS: KITDQ , DIS

Timberrrrrrrrrrrrrrrrrrrrrrrrrr.  The market went down today faster than the Hummer Mom chaperoning a Boy Scout overnight.  Given the months of bad macro data and the Fed warning about slower growth yesterday, the drop is about as surprising as learning that menstrual cramps may alter women's brains (and for their next study, National Yang-Ming University will likely prove that exposure to Hannah Hilton may alter men's pants).  Today's sell off was driven by more lackluster macro news both in the US and China as well Bernanke flexing his balance sheet yesterday and stressing his determination to keep it inflated.  [more]

8/10/10 Midevening Report: Fed quantitatively eases on down the road, hopes the road doesn't lead to deflation

August 10, 2010 – Comments (1) | RELATED TICKERS: NFLX , INTC , AMD

The market dropped in the morning like Ted Stevens' plane (too soon?) which Money McBags read about on the series of tubes some people call the internets (perhaps if there had been a bridge going somewhere instead of nowhere, the plane wouldn't have been needed, but Money McBags digresses), until Ben Bernanke got his quantitative easing on and told the world that the economy is getting worse.  Rally f*cking on as stocks pared losses after the Fed's statement on the economy which was about as uplifting as a Sylvia Plath poem (though less rhymey).  The market paring losses on that news is a bit like Dick Cheney's health insurance premiums going down after his 7th heart attack or Magic Johnson being invited to more orgies (or is it orgi?) after he got AIDS, but it is what it is.  [more]

8/9/10 Midafternoon Report: The (money) shot Hurd around the world

August 09, 2010 – Comments (3) | RELATED TICKERS: HPQ , CRTX , EBIX

With little macro data out today, the big news in the market is that HP CEO Mark Hurd resigned due to a sexual harrassment discrimination suit that seemed to involve less sex than Bill Clinton's bedroom (that is when Hillary is sleeping there).  Apparently Hurd hid business expenses when taking out a MILF/GMILF named Jodie Fisher who has starred in such films as “Intimate Obsession,” “Body of Influence 2” and “Steamy Cleveland Nights" (and only one of those 3 is made up).  Basically, Hurd hired Fisher to run some BS PR events and then took her to dinner afterwards because apparently he is either a big fan of the skinema and wanted to talk to her about her acting influences, or he is a lonely married guy who just happens not to know how to spend the $33MM he made last year (hint Mr. Hurd, if you're going to wine and dine a lady, how about finding someone younger than 50 who is not going to sue you for inappropriate touching?).  [more]

8/6/10 Midafternoon Report: Jobs number disappoints again as people ask "Brother, can you spare a dime, and maybe a 401k?"

August 06, 2010 – Comments (0) | RELATED TICKERS: FHCO , KRFT , AIG

The market fell for most of the day before being bizarrely bailed out at the close for no reason other than to seemingly allow Money McBags to write that alliterative phrase.  The big news was that the jobs report once again disappointed like the other side of a Goldman CDO deal or Tara Reid's plastic surgeon.  The July jobs report showed the economy lost 131k jobs driven by a 143k decline in temporary census workers, a 59k decline in other government workers, and a 99% decline in hope.   The positive spin is that private employers added 71k jobs though that was below the 90k analysts guessed but up from the DOWNWARDLY REVISED June made up number of 31k (and that was DOWNWARDLY REVISED from the bogus 83k number which Money McBags eviscerated last month and means that at least 221k jobs were lost last month, not 125k, but what's another 100k to the 16.4MM people unemployed?).  [more]

8/5/10 Midevening Report: New claims for unemployment continue to claim the economy still sucks

August 05, 2010 – Comments (0) | RELATED TICKERS: TMRK , WWE , GOOG

The market traded down today like anyone who has ever broken up with the delightful Brooklyn Decker as new claims for unemployment were out and were much worse than analysts had guessed (and not just because analysts suck at their jobs like one-legged kick boxers, but because we're in a f*cking recession).  Money McBags hates to sound like a broken record (and not a good broken record like the Houston 500, but a sh*tty broken record like a scratched Charlie Daniels Band LP that keeps repeating the chorus of that awful Devil Goes Down to Georgia), but the economy is not getting better and employment remains as tenuous as Charles Rangel's hold on his congressional seat or Rudy Giuliani's hold on his daughter (though not as tenuous as her hold on some Sephora cosmetics).  [more]

8/5/10 Midevening Report: Market continues moving on up, can now afford eastside deluxe apartment in the sky

August 04, 2010 – Comments (0) | RELATED TICKERS: SMCI , WFM , PCLN

The stock market crept up again today as the equity markets and bond markets continue to decouple like Bristol and Levi, Mel Gibson and sanity, or Carrie Prejean and her top.  In terms of macro news, the ISM released their report on the services sector and it both beat analyst guesses of 53 by coming in at 54.8 and was above last month's reading of 53.8 which Money McBags believes is the first time a piece of macro data has done both of those in the same month since crude inventories were up in May of 2007 as a result of the release of Andrew Dice Clay's "Dice Undisputed" on DVD.  The ISM's employment gauge rose from 49.7 to 50.9 and that rounding error is enough to give economists with shorter sight than Mr. Magoo a modicum of hope.  [more]

8/2/10 Midevening Report: Market hits ten week high as meth lab in the basement pays off

August 02, 2010 – Comments (2) | RELATED TICKERS: BBRY , GLW , KIRK

The market ran faster today than Roman Polanski going to get his keys to pick the baby sitter up because the manufacturing sector grew at its slowest pace since December, private construction spend dipped for the second month in a row, and Ben Bernanke said sh*t still sucks out there.  So rally f*cking on like Donkey Kong having his way with the princess, only if the princess had tainted his banana wth AIDS.   [more]