I just heard an oxymoron on Blabberg ... the fellow mentioned "investors continuing to trade" certain markets. Since when is "trading" part of "investing ? That's symptomatic of the beefer* mentality. Those huge funds aren't investors at all - just colossal trading funds spreading their foul wastes everywhere. [* beefer = big, evil funds]
The "West" did the predictably smug "tut-tut" when the beefers attacked minor, far-away nations like Thailand ten years ago. Now the piratical attacks are closer to home, viz. Hungary. Even nations with strong reserves like South Korea are attacked.
Why are those beefers permitted to slash & burn these places with their currency trading ? What is the economic gain from that hot money sloshing around ? Zero. Sure, foolish ideologues like Elmer ( aka Alan Greenspan ) talked about the "wonderful" liquidity they provided. Sure ... a 100 year flood provides "wonderful" liquidity to a common man in his home !
Markets
More beefer liquidations yesterday ... or maybe the trading beefers who bought at the recent lows flipped the shares to "try" to lock in a profit. Who knows ? The public is probably still pulling money out of stocks.
Meanwhile LIBOR is falling. And homes are selling at a rapid pace in those places like CA where the housing bubble was worst. Borrowers of home equity loans and floating rate mortgages are seeing substantial cash flow improvement. As is every person driving a vehicle. So the curative medicine is flowing in the veins of the patient.
Lender standards return to .. gasp ... those of the early 1980s. I bought my first home in 1984 and my initial mortgage interest rate was 13.875% on a one year floater with a 30 year amortization schedule. Lolol I think the "teaser" rate was around 11%. Yes, I put 20% down, also. And I did rather well over the years ... as did the economy.
Hmmm ... on my 100 year wall chart, the world did rather well after that period of retrenchment, which in fact included a huge financial crisis of the S&L industry ( disintermediation) and banking industry (those huge third world loan losses ... remember ?)
Governmental money will actually go into the commercial paper markets next Monday. Equity infusions to banks soon follow.
The dollar is rising. Uh ... I thought the pundits said the dollar was doomed to oblivion ?
Actions
Doing nothing. Please don't go too long on margin. I am long margin, BUT as I've said many times before, my Alpha Fund is really a small part of my total investments.
I might add to FCX in the low 20s if it gets there.
Word of the Day
"Tatterdemalion" - noun & adjective [$100] a Mencken word
Tatterdemalion means 1. (noun) a person in tattered clothing; a shabby person; 2. (adjective) ragged; unkempt or dilapidated.
Sentence: As the disaster-mongers say, the world will soon be filled with wandering tatterdemalions looking into garbage cans for a few scraps of food. But barring a big war or trade war or other governmental idiocy as Argentina has shown the path, the innate desire and capability of free people to improve their lives proves an irresistible tail wind for strong economic growth over time.
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31 comments:
mr G calling for more oversight nad regulations.....loooooooooooooool
his appearance today a must see......pure comedy
well Bman .....here's how i analyse what's happening in the markets right now
beefers are getting liquidated.......we all know that
but what happens after they are done........we as traders ( and investors) have to recalibrate our expextations of future returns in the stock market
stocks basically move on supply and demand......and the demand for stocks has been dramatically reduced
long gone are the days when FSLR or DRYS or POT will shoot from 100 to 200 in a matter of weeks
fast money beefers wud chase these stocks higher and make the rest of us very happy to catch a ride with them
i warned you months ago that wishing for beefers to get annihalted wud be bad for all of us.........i sure hope big mo caomes back one day......cuz there is no such thing as 'real buyers'
"be careful what youy wish for"
another article on the demise of beefers
http://www.nytimes.com/2008/10/23/business/23hedge.html?_r=1&hp&oref=slogin
"the stupid rich"
i hate this new format on the blog
i'm not gettin redirected to the 'comments' page
Does Bunkerman read this blog?....Is he coming around to spins late 70 early 80's style mortgage rates coming to a bank near you??
Bunkerman what are your thoughts on the newest catch phrase on tv...the "global recession"?
I didn't make this change - I don't like it, either.
And I remember your comment about getting what I wish for ... but paraphrasing mern, "reactionary destruction" is necessary.
I don't remember you saying that, spin, or would have cited a "poster", but if so, you are correct.
Am I in a time-loop ? I thought the recesion mongers said we were in a recession nine months ago ?
Anyway, most recessions are and have been global for about 150 years - maybe 400 years since world trade began.
Of course with China growing at 9% in Q3, maybe they are re-defining the term ... again.
I might by Mom a few shares of DOW today if it doesn't pop.
btw, Mom gets the Bman put - I cover all her losses.
meant "buy"
I thought Liveris - DOW CEO - was honest about his dividend.
atta boy cole hamel......he's got all his pitches workin rght now
i f'ng hate the rays........kill 'em boys
city of champions indeed
die rays die !!!!!!!!!!!!!!!!!!!!!
whoever inveted the thunder sticks and now the cow bell clangers for the hoople heads should be shot....had to be a jap
just a refresher for the kids out there..lol
Mortgage rates
Jan-1977 8.72%
Feb-1977 8.67%
Mar-1977 8.69%
Apr-1977 8.75%
May-1977 8.82%
Jun-1977 8.86%
Jul-1977 8.94%
Aug-1977 8.94%
Sep-1977 8.90%
Oct-1977 8.92%
Nov-1977 8.92%
Dec-1977 8.96%
Jan-1978 9.02%
Feb-1978 9.16%
Mar-1978 9.20%
Apr-1978 9.36%
May-1978 9.58%
Jun-1978 9.71%
Jul-1978 9.74%
Aug-1978 9.79%
Sep-1978 9.76%
Oct-1978 9.86%
Nov-1978 10.11%
Dec-1978 10.35%
Jan-1979 10.39%
Feb-1979 10.41%
Mar-1979 10.43%
Apr-1979 10.50%
May-1979 10.69%
Jun-1979 11.04%
Jul-1979 11.09%
Aug-1979 11.09%
Sep-1979 11.30%
Oct-1979 11.64%
Nov-1979 12.83%
Dec-1979 12.90%
Jan-1980 12.88%
Feb-1980 13.04%
Mar-1980 15.28%
Apr-1980 16.33%
May-1980 14.26%
Jun-1980 12.71%
Jul-1980 12.19%
Aug-1980 12.56%
Sep-1980 13.20%
Oct-1980 13.79%
Nov-1980 14.21%
Dec-1980 14.79%
Jan-1981 14.90%
Feb-1981 15.13%
Mar-1981 15.40%
Apr-1981 15.58%
May-1981 16.40%
Jun-1981 16.70%
Jul-1981 16.83%
Aug-1981 17.29%
Sep-1981 18.16%
Oct-1981 18.45%
Nov-1981 17.83%
Im surprised noone has tried to put a bullet in "Mr. G's" head....
was thinking about AMZN as I like the company, but over 40 teh stock looks expensive. Not cheap until 30.
atta boy mr G
" no one could have imagined.........
loooooooooooool
no one that is.....except
mr mern
die MAC die !!!!
die KIM die !!!!!!
thanks maverick.......oh wait.......private email
never mind
mav can you get Z to creat panic in DRE and AIV too???
did mrG just cut the fed funds rate 75bps ???
stop cloggin the f-n blog...we're here to learn sir......
is SLG the next DDR ???
what say zeta
lmaoooooooooooo spin
"sorry"
pay your 6k and find out....
i think i need to send maverick 6k
'curtain call lee'
is FRT the next DDR ???
what say zeta
FRT earnings next week
rofl
i was dying reading the elmer highlites.
even by beer soaked liver saw all that coming.
ok the rays in 5.
note self. stop going to beefs and being the only phillies fan.
almost got beat up last nite, i think. cant really remember.
to show how weak this city is, all u had to was watch the national athem. i didnt even know those fags were still performing.
u know the toughest part of being in the backstreet boyz is having to call your parents and tell them u r gay.
is this a recession?
earnings ??? uhhh......don't you mean writeoffs
rofl
i was dying reading the elmer highlites.
even by beer soaked liver saw all that coming.
ok the rays in 5.
note self. stop going to beefs and being the only phillies fan.
almost got beat up last nite, i think. cant really remember.
to show how weak this city is, all u had to was watch the national athem. i didnt even know those fags were still performing.
u know the toughest part of being in the backstreet boyz is having to call your parents and tell them u r gay.
is this a recession?
mav what did zeta say about me emailing him ?? he rejected me ??
i'm hurt
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