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alstry (35.17)

How did Alstry know???

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November 20, 2008 – Comments (5)

NEW YORK (Reuters) – JPMorgan Chase & Co (JPM.N) is cutting 10 percent of its investment banking staff -- about 3,000 jobs -- as the economic slowdown starts to bite into its earnings, people familiar with the situation said on Thursday.

Economy slowing.....Millions of jobs lost......Companies going bankrupt........The worst stock market crash since The Great Depression..........All things Alstry was warning you about months and months ago.......time for a drink.

5 Comments – Post Your Own

#1) On November 20, 2008 at 4:48 PM, DaBronxBull (30.07) wrote:

 gotta give you credit, you got it right.

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#2) On November 20, 2008 at 5:20 PM, Mcguf (46.50) wrote:

Ok so I give you credit... but be careful not to let it go to your head too much. Alot of people are hurting. 
Unsurprisingly probably to most here, Cramer didn't have the same foresight as you but I do admire him for coming out with this recent personal rant:
"Cramer then aims his personal Outrage at the market "wizards" and know-it-alls -- you know, the ones you see crowing about how they saw this financial crisis coming and got out and, oh yeah, made a ton of money and are doing absolutely great, thank you very much.

To those smirking faces, this is what Cramer has to say: "Shut the heck up."

After all, "people are losing fortunes, their savings, their nest eggs, college tuition money, hard earned and hard to earn dollars in this stock market." Do these people -- or ANY honest, hard-working people -- need to hear that kind of smug, self-congratulatory crap? What happened to common decency and courtesy -- if not actual empathy?

"It's clichéd," Cramer says. "But would it be so bad for you to feel the other guy's pain?""
My sentiments exactly. 

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#3) On November 20, 2008 at 5:22 PM, Zanibel17 (97.30) wrote:

It's OK to gloat a little, Alstry. After all the sh!t people gave you over the past year, you're entitled.

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#4) On November 20, 2008 at 5:46 PM, alstry (35.17) wrote:

Guys its is not about gloating.  It is about providing warning.  There will be a lot of pain....in many places.....please don't lose sight of it if you are more fortunate than others.

Many who perceive they are rich will not be in the near future. 

If you break down the financial statements....it is a lot more serious than many think.  Just try to stay positive, stay prudent, and maintain perspective.  Changes will be in order.  In the end we will get through it, but becareful believing everything you read....be critical of what you see and hear....even the stuff I put out there......no one is more critical of Alstry than Alstry.

 

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#5) On November 20, 2008 at 7:27 PM, Jhana9 (20.37) wrote:

Agreed. I always read Alstry blogs because they seem right on, and there's little or no waffling. Blunt, consistent, and right; it works for me.

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