So we wait for the various government plans for aid the credit markets to take effect. You do know that NONE of those has actually funded yet, right ? The Fed has not bought any commercial paper and the governments have not put any money in banks equity yet either. BUT the Fed has FINALLY been quite reasonable in adding to the monetary base. This writer has been complaining about that for months.
So the recovery to date is ALL due to better psychology and the Fed increasing the monetary base. And why should that be true as the entire "crash" was due to a panic of the rich.
Today we find out who was stupid in writing a net open position in LEH credit default swaps and what they must pay. This will be quite interesting. Here is my position: any financial firm that shows a net loss to those shall have its CEO fired after a severe horsewhipping. No one should have ever done that. Sure, hedge funds could gamble like that with their gullible investors' money. But no actual firm - bank, investment bank, insurance company, etc. -should have done that.
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I am still waiting for Vanguard to clear that check so I can buy more US stocks in Krypto Fund. I suppose part of the delay is that the size was large. But it's annoying to me. Ameritrade always gave me trading & buying power instantly.
Word of the Day
"Estop" - verb, transitive [$10] (estopped, estopping)
Estop means (Law) bar or preclude, especially by estoppel.
"Estoppel" - noun [$10]
Estoppel means (Law) the principle which precludes a person from asserting something contrary to what is implied by a previous action or statement of that person or by previous judicial determination.
Sentence: One would think that if W [aka George W. Bush] had any principles he would consider himself estopped from opposing a second economic stimulus plan and merely want it spent effectively, perhaps to help the common man better. After all, he and his Republican cronies spent money as prodigiously as Ronald Reagan's "drunken sailor" metaphor.
About Me
- Bunkerman
- I have a pioneer mentality. My wife & I live in the woods - neighbors aren't visible except slightly in winter. Our "bunker" - hehe, really a fine home & barn - has plenty of security. We have four dogs: Krypto (age 9, Kelpie), Ava (age 13, Rat Terrier), Sky (Kelpie, age 5) and Lucky Star (age 1, kelpie). I don't take crap from anyone anymore, having enough resources & gear stocked up to survive in any circumstance. I have three degrees from Harvard including a Ph. D. in a physical science, and an MS in Management from MIT. I worked as an investment banker for about 25 years, mainly in secured finance, at three major Wall Street firms and for the last 17 years with my partners at our own firm. I'm semi-retired now, managing some private corporations and business interests and doing my own trading & investing. This is not to boast, but to give you an idea I know a little about some subjects from experience. The photo is my 1943 M16 half-track which I am restoring. These armored vehicles were ubiquitous in the US Army in World War II and Korea. It's driveable.
33 comments:
Bunky...no one home today...gesh, must be a bear market...non posters, toss a guy a bone.
oh, I suspect they stunned at up move, or waiting for dip to buy, or something to short.
Grind it up is so foreign lately.
Just finished a french lesson myself. Good progress.
I'd lile a dip myself, as that check cleared so I can buy now.
Sox World Series tickets!!!! anybody need 2???
I see synthetic CDOs now causing worries - my gosh how stupid the Street was - ignoring counteparty risk in those.
Many synthetic CDOs contain a heavy dose of exposure to financial companies, including Lehman, Washington Mutual and recently nationalized Icelandic banks Glitnir Bank hf, Kaupthing Bank hf and Landsbanki Islands hf. As a result, the users of synthetic CDOs are facing a wave of credit-rating downgrades and outright losses, which are coming to light gradually as ratings cos pore over hundreds of individual synthetic-CDO deals. Meanwhile, hedge funds and other investors are heading for the exits amid worries about how bad the losses and downgrades will be, causing the market value of synthetic CDOs to slide. Dealers are offering about 50 cents on the dollar or less for some pieces of synthetic CDOs that used to be rated triple-A, according to one trader. That is down from about 60 cents on the dollar only three weeks ago. "We've seen some hedge funds trying to get out of positions, and that's rattling credit markets," said Laurent Gueunier, head of structured corporate credit at AXA Investment Managers in Paris.
vanguard index fund???
are you f'ng for real Bman
i wouldn't send john bogle a dime even if i was worth 300million
well i voted yesterday in fort lauderdale
spent about 30 minutes at the polling place........lots of mooly-nans in line......and every one of them looked like a felon......Obama registered every black in florida......and you can't challenge the registration else they start crying about racism and disenfranchisement......oh well
die obama die !!!!!!
Bud seems angery today...working the shine box taking a toll pehaps...snap the towel on the buff and smile, should get the skim flowing.
I guess Rick Santelli reads this blog - he just said Credit Default Swaps should be banned.
VTI is a great index ETF - the best. Lowest fees and covers all US stocks.
And is not a beefer trading vehicle.
Bogle is just an advisor now - H ehas now authority anymore.
This is Krypto Fund money.
Swenson of Yale recommended the VTI and the TIAA_CREF funds for low cost.
got my lunch dip.
uhhhh.....not so sure about santelli
he is a big ping pong fan
did i tell you Bman that ping pong is my favorite game ????
uh .. yes, Bud ... I know you are a super fan of ping-pong.
I'm more than a bit tired of it.
you should be trading my Alpha Fund stocks, Bud - pro-style ping-pong there.
sorry Bman
but i'm just a player......i don
't organize the ping pong tournaments
Bunky...Doug Kass buying...Revy likes the basing action...beefers coming your way, they sound like real buyers.
my private email is for stock trades and market thoughts
i don't have any time for stupid pictures
thank you for your cooperation
PS.......what's so funny bob?? every one of your teams in last f'ng place
44-6 indeed
what is doug kass buying ??
smart guy tellin me i shud be loading CHK here
what you say Bman ??
are you bullish on nat gas
you werent using your email..I didnt think you;d mind
sorry
are you really sorry though?
uh Bud...play or sit...either way you won't be making the rules...fun in not optional.
omg.........spin thought i was serious
lmaooooooooooooooooooooo
"sorry"
I like nat gas a bit long term, but like oil a lot better.
If the greene nazis get power, nat gas demand goes up.
But there is that pipleline under construction from Alaska to US that will bring a lot in.
Lots of big LNG projects cap it, too.
CHK might be OK now since Aubrey is wshed out now.
A few cold winters and nat gas goes up a lot.
omg bud thinks I care what he thinks
lmaooooooooooooooooooooooooo
there you go Bman......real buyers doin the job
long only investing indeed
Bunkerman what's the difference between VTI and SPY? VTI have a wider array of holdings?
Bman do you think ceo/executive compensation limits shud be legislated??
or do prefer the shareholders take care of it
VTI has about 7000 stocks - all US.
SPY is just S&P 500
no limits re CEO pay, but shareholders need a real say in this - not this fake compensation committee BS with all CEO cronies on it.
There needs to be some kind of capability to say no.
Shareholder votes that are secret would help a lot.
Or direct votes for compensation committee.
you got that right mfl.......real buyers mush indeed
godammit.......i f'ng hate it when they play ping-pong and don't invite me
are there any real buyers left ??? they must be on the endangered species list
"jim" bullish, kass bullish....no chance that rally could stick....
6k indeed
The only real buyers left are Me, Mrs. B and Warren Buffet.
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