Friday, September 18, 2009

TGIF and Hmmmm ....

Some interesting facts in today's newspapers (online):

FT: "Two new luxury flats in Hong Kong have been put on the market for a record per square foot price of HK$75,000 (US$9,640) as the buoyant economy and stock markets on the Chinese mainland lift demand for exclusive properties beyond pre-crisis levels."

Notice that phrase, "beyond pre-crisis levels".

Is Obama morphing in Jimmy Carter ?

FT: "Barack Obama’s decision to scrap Bush-era plans for a missile defense shield on Thursday triggered dismay in central Europe and among Republicans on Capitol Hill, amid claims that it amounted to a major security concession to Russia. Unveiling one of the biggest reversals on national security since coming to office, the US president said that he would abandon predecessor George W. Bush’s plans for ground-based interceptors in Poland and a related radar site in the Czech Republic, deploying instead a new system that could hit shorter-range Iranian missiles."

By the way, Polish news noticed that this decision occurred on the anniversary of Russia's invasion of Poland on September 17, 1939, grabbing its spoils from the Molotov-Ribbentrop treaty. Rather poor timing for US-Polish relations indeed. Why would anyone expect the youngsters on Obama's staff to know anything about history or Eastern Europe ?

And the march of technology goes on ...

FT: "After five years of scanning books electronically, Google is finally entering the print publishing business for the first time. Through an arrangement with a printing company unveiled on Thursday, Google will offer 2m out-of-copyright books that can be picked up or shipped from libraries, universities and other spots around the world. It has struck the deal with On Demand Books, makers of the Espresso Book Machine that can print a 300-page book in less than five minutes, complete with a cover and a bound edge.

"The editions are likely to cost about $8, with Google keeping a dollar, On Demand Books keeping a dollar and the retailer keeping $3. The remaining $3 should cover the cost of materials and labour."

That's great news ! Those old books were being lost to the intellectual knowledge of humanity. With Google, if one finds interesting references in a search, one can now buy the book. Too bad copyrights last so long.

And the reforms begin:

WSJ: "Policies that set the pay for tens of thousands of bank employees nationwide would require approval from the Federal Reserve as part of a far-reaching proposal to rein in risk-taking at financial institutions. The Fed's plan would, for the first time, inject government regulators deep into compensation decisions traditionally reserved for the banks' corporate boards and executives. Under the proposal, the Fed could reject any compensation policies it believes encourage bank employees -- from chief executives, to traders, to loan officers -- to take too much risk. Bureaucrats wouldn't set the pay of individuals, but would review and, if necessary, amend each bank's salary and bonus policies to make sure they don't create harmful incentives."

So speculating with depositors' money and bank capital will finally have some "adult" supervision. I'd prefer the shareholders do it, but until the SEC gives them such power in proxies, we'll have to rely on the Fed's extant regulatory powers over bank holding companies.

Actions

Ms. Market stopped dancing yesterday, being a bit tired. She needs a rest before the band starts up again. Based on its sluggish action and some fears of a poor quarter noted by a respected commentor on this site, I sold RIMM from Fido Fund and also sold its call options from 1-2-3 Fund, locking in good profits on both positions. If RIMM drops on earnings and I think its prospects are still good, I might re-buy it.

Word of the Day

"Perdurable" - adjective [$10]
Perdurable means (I) very durable, or (II) extremely durable: PERMANENT.
Sentence: Regulatory reform of the financial system needs several layers to be perdurable. Any single regulator is likely to eventually be co-opted and become part of the problem, as the SEC is now.

Verbum Diei

"Errare" - verb, first conjugation
Errare means to err, to wander, to go astray, make a mistake, to be mistaken.
Sententia: Errare est humanum. (from Seneca, the famous Stoic philosopher)
Sentence: To err is human. [Any stock speculator must accept this or go crazy.]

29 comments:

mfl59 said...

Miami an easy winner....way to go Sal...good one...

Mike's raspberry lemonade on the house this weekend...

Spin-em said...

Bunk.....Cramer used the word neolith last night..lmaooo

Bunkerman said...

I told you he (or his minions) read this blog !!!

hahaha

Bunkerman said...

I see C analysts do, too.

They upgraded 1-2-3 Fund stock PG.

mfl59 said...

instead of using the word "perdurable", why not just use the phrase "very durable"?

Bunkerman said...

sheesh mfl ...

maybe my definition is too simple.

Another dictionary gives "extremely durable: PERMANENT.

'perdurable' sounds a lot better - its more poetic.

"very durable" is rather stale: 'very' is over-used.

Bunkerman said...

besides, Shakespeare used "perdurable"

mfl59 said...

lol Bunky...just asking sir...your petulance ($10) is surprising...

Bunkerman said...

oh something is annoying me today.

Frosty said...

PG...oh man, sitting right at the crowded 55 strike, I wonder who's desk was loaded...oh, C with the upgrade today, imagine that..."I luv beefers games when they fall in my favor"...do you feel nonono shame sir.

mfl59 said...

Bud must be sleeping one off...prolly went down to the U and handed out free wine coolers to sorority girls last night...

Frosty said...

where the hell is the pakrat...THE U...biggest bestes bet ever.

Spin-em said...

come onn Bunk..what's the matter??...spill the beans..break the new American made Tommyhawk??

Spin-em said...

hmmm.....interesting...facts,figures..no problemo...but trouble expressing feelings...clamupchowder...RED FLAG!!!

Spin-em said...

there's a rumor and leading in the pool is that... the envelope is a lil light.......

Bunkerman said...

nope ... someone trying to be a bit "clever" ...

Gonna have to crack some heads ...

Spin-em said...

envelope same but receipts revenue dont jive with past.....

Bunkerman said...

nope ... someone trying to get an edge is a deal.

Gotta good local guy to handle the problem now.

Bunkerman said...

an edge in a deal.

Bunkerman said...

some people think they can push anyone around ... F

Spin-em said...

hang in the Bunk......go toss the Hawk..make ya feel better

Bunkerman said...

all under control now.

Frosty said...

light the lamp Bunky...TGIF...bunktini time.

Bunkerman said...

yup, frosty, leaving bunker in a few minutes to have a bit of "fun" in a WW II bomber.

Frosty said...

nice...b-25

Bunkerman said...

17 or 24 the big ones.

Gotta choose ...

Frosty said...

the flying fortress for me...think there a very few still in the air...jealous indeed, enjoy.

Spin-em said...

strafe Fenway for shits and giggles

Spin-em said...

just goes to show....NEVER...and I mean NEVER..mix Mikes Hard Lemonade,Zimas and man juice...or you end up mia.....