Thursday, October 29, 2009

The Good, the Bad, and ...

The Ugly.

That's watching a few clips of Yankee batters whiffing last evening. The Universe is troubled, and in disharmony as the Yankees lost Game 1 of the World Series at home 6-1. Yankees fans must hope that this loss occurred from overconfidence and the Bronx Bombers now will reach deep into themselves for renewed energy and vitality to win the Series.

Here's an interesting headline from Le Monde on the heritage of the Yankees - "Base-ball: la gloira retrouvée des Yankees" meaning "Baseball: glory regained for the Yankees". The article will be my French study lesson for today. One thing that self-study of a foreign language requires is translation workouts that are interesting.

The Bad

As usual for the past few years, that's Wall Street and its seemingly immanent sleaze. Galleon paid millions to Wall Street firms for trading information, aka "color", that would not have been normally disclosed to most investors. I suppose it got value for its money. Now think. Who gave them that information ? Goldman Sachs, Morgan Stanley, etc. And who profits hugely from proprietary trading ? Goldman Sachs, Morgan Stanley (in the past), etc. So Goldman Sachs and the rest of the Street and big banks with proprietary trading desks - who ALSO represent themselves as honest brokers - make money from THE SAME information that Galleon is supposed to have illegally obtained.

There are honest brokers, and there are sleazy brokers. A sleazy broker, whether in stocks or real estate or cotton, trades and deals ahead of and in competition with its OWN customers. In some professions that is expressly illegal. It no doubt violates the duty an agent (the broker) owes to its client (the customer).

Financial reform should prohibit any broker from operating a proprietary trading desk. Period. If Goldman Sachs employees or even its stockholders want them to trade for their own account, let them split into two companies, viz. an honest broker and investment banks, and a hedge fund.

The Good

It's possible that cluster FUBAR climate treaty will collapse. Europe is bickering over the costs. China and the US disagree, too. Good.

Actions

The markets dropped yesterday when the beefers and traders, as usual, all tried to sell at the same time. Hardest hit were their technology and resource favorites.

I bought some more VVUS (a long term speculation on their promising diet drug), re-bought some RIMM at the gap support level to re-start a position, and a few more MT call options. MT earnings seemed good to me, but that stock was hammered.

I have plenty of cash on the sidelines and am looking for more speculations.

Word of the Day

"Cant" - noun and verb [$10]; this is one set of meanings.
Cant means (noun) 1. insincere pious or moral talk; 2. ephemeral or fashionable catchwords; 3. language peculiar to a class, profession, seat, etc.: jargon.
Sentence: Almost every public statement that I've heard from Wall Street figures is mere cant to delude the public to help preserve the vig they skim from the public and investors.

56 comments:

Bunkerman said...

condolences, Bud.

uh ...

Non es deus.
Sie sind kein Gott.
Vous n'est pas un dieu.

The ancients knew man.

Bunkerman said...

Your Polish slave whispers ... Pan nie jest bóg.

Bud said...

good morning Bman !!!!!!!



Sie sind kein Gott indeed

Bud said...

wait.............lemme see if i understand you correctly


GS (allegedly) was givin Galleon info to generate more commish and fees.............since Galleon wud do more profitable trades


but wait............i thought GS 'gutts it's own beefer' ?? huh???



what a bunch of thumping tosh

Bud said...

recent polls are showing less and less people believe in the climate change/global warming fairy tale............it's clear to me that in this economic downturn..........more pressing economic issues (like havin a job) triumph the 'feelgood' crap


PS...........al gore made himself 100million dollars promoting this fairy tale............like atrue capitalist

Bud said...

S and p cracked the 50dma ................this ain't lookin good

also started to hear about a duoble-dip recession on Kudlow last nite

Bud said...

back to GS


i am 100000% sure goldman's clints are ecstatic with them.............and 1000000000000000000000000% sure the shareholders are...............that's all that matters............they have afiduciary responsibility to the clients and shareholders...............the rest can whine and moan and cry and bitch all they want...............irrelevant and meaningless

Bunkerman said...

GS milks its beefers before gutting them.

Bunkerman said...

yup re Gore ... a dirty secret is the billions in donations and grants the greenies are slurping from the trough.

Bunkerman said...

uh Bud ... Bernie Madoff's clietns thought he was a hero, too ... until ...

Bunkerman said...

and dito guys who get into business with la cosa nostra. First the joy, then "pay me" then zilch is left.

mfl59 said...

Bunkerman does "jim" gut his own clients?

Bunkerman said...

yes, he milks them regularly and occasionally guts a few.

Frosty said...

GS lowers GDP yesterday and creates some panic selling...bears pressing into the bell...uh, guttem indeeed...ooopppsss...ppfftt...wake up Sal.

Frosty said...

Bunky...RIMM up a couple quick points, free ride with a 60 stop...like your style big fella.

Bunkerman said...

well, thanks for the response to the Q the other day ... gave the little gray cells a spark.

Frosty said...

I did T VZ...took over a buck sugar on half each from monday with stops monday low...keep those on the radar, much more confidence there than RIMM fwiw.

Bunkerman said...

ah .. a true investor, frosty.

I want to look at the T, VZ LT charts of earnings vs. dividends.

I'm a bit worried that Obama might do something them re the Internet.

If I buy them, it would be LT.

Many people have touted them recently (Bill Gross, etc.) so wary.

Frosty said...

uh Bunky...I could own T VZ for years...still own most if what acquired in march and april...so you have the better mouse trap...whip it out, yadda yadda yadda, it swings well below the knee, I know the drill.

mfl59 said...

Bunkerman does "Geithner" mean douche in German?

Frosty said...

Bunky...handshake...my methods work for me, yours for you...nuff said.

Bunkerman said...

well, I keep money in different pools (funds) for my own management and I'm thinking where VZ, T might fit.

I would suggest to Mrs. B - as they fit her fund best, but that often is bad luck.

She has some VZ already.

Bunkerman said...

Geitner is not a Greman word, nor is "Geit"

"geizen" is a verb for "to be mean", or "stingy" or miserly lolol

Bud said...

nobody gives an F what you bought in march or april...............NOBODY !!!!!



PS.......still wanna be friends????

Bunkerman said...

uh ... I thought that was uiseful info.

Call me "nemo", I guess.

mfl59 said...

Here we go Jayhawks Here we go!!!!!

Rock Chalk Jayhawk baby!!!

Kansas State will rule the North!!!

Frosty said...

do say Hadji...no wonder you didn't make the jonny quest cut...see Bunky, I and others here help one other make $$$$...you sir are a leach, an hermaphrodite.

Spin-em said...

...Hey "bob's a longterm inwestor too

we should all have that vision to have those sweet monthly div payoffs from back then...we'd be at the bmw store



(well not really lol but you know what I mean)

Frost Popeil....SET IT AND--FORGET IT!!!!

Bud said...

yankees are -210 tonite...............i really can't see them losin this game...........pedro gonna get pounded..........a guarantee............but i already have newyork in the series................i have not decided wehter to bet tonite's game.........i will let y'all know by first pitch





PS.............i went to a porsche/audi dealership.............sweet rides............i need newyork to win this series to buy a new car.........bmw also on my radar




Sie sind kein Gott my ass

Bud said...

the porsche is a dream............i can't afford that


unless of course i can learn to trade like frosty...........ya'know ..........nuthin but winners........has he ever had aloser ????.....retroactive motherf'er



PS.............still wanna be friends????

mfl59 said...

jeez....you think Pat Tillman used to go out and look to buy a new car every time he made a little $$$? who are you trying to impress son?

Frosty said...

Sal, did jim dump that sharkfolio in a panic yesterday?...what were you doing Bunkey, buying RIMM...let's whip them out indeed, how you doing this year Bunky.

Bud said...

LMAOOOOOOOOOOOOOOOO


-----------------------------


i wonder if the recession is over, in ohio.......columbus has banned all extracurricular activites, in high schools. even no more friday nite football. now those towns r vacant....everyone moved out the second the bill was passed.

when did housing bottom, a yr ago.......????????

but prices were down 11% y over y......in september..........

thats a bottom?





PS...............come back mern...........you are sorely missed

Bunkerman said...

Not sure the number, frosty. I stopped counting when up 50% in speculative funds.

Bunkerman said...

there's still HS football in my hometown; plenty of other sports, too

Bunkerman said...

housing would have bottomed last yar, but the beefers caused a classic panic.

so bottom was this summer.

Bud said...

housing bottomed this summer??? huh?????



maybe in fantasy-land.............but not in ft lauderdale

mfl59 said...

Ohio looks like the apocolypse hit....I saw that last night as well...

Bud have you ever considered going to pick up your cash on a pogo stick? or perhaps in a potato sack?

Frosty said...

"maybe in fantasy-land.............but not in ft lauderdale"....flaazzholes "not to bright", think we already established that fact....thx Sal

Bunkerman said...

more precisely, end of summer - September.

the Case-Schiller numbers showed that.

mfl59 said...

would you consider it an "artifical" bottom sir?

Bud said...

frosty must liked gettin spanked during sex...............did i not pound you enough yday??? you sure you want more ??



PS..............he prolly likes gettin gagged and punched during sex..........ya'know..........since he's a fag and all

Bud said...

i'm gonna need my brand spankin new 2010 Audi Q7 to pick up the cash from the world series win



Pan nie jest bóg my ass

Frosty said...

Sal...is jim shopping for a "jerry jones sized" flat screen for his bathroom, please advise...thanks in advance.

Bud said...

ok..............long newyorkyankees -200 for GAME2 up the f'ng wazoo tonite...........i can't see them losing this game........they a lock ...............can someone please explain to me how the yankees can lose tontite ???


after tonite.........i will be back in the drivers seat of my 2010 Audi Q7.........it will be 1-1 and still have the yankees in the series





Vous n'est pas un dieu my ass

mfl59 said...

Bud you ever see the show "Operation Repo"?

Keep betting on the Yankees and you might be on it....

Frosty said...

"This market has just not followed the rules very well."...thx jim

Spin-em said...

I wouldnt bet A J Burnett with "your" money.....

Frosty said...

"can someone please explain to me how the yankees can lose tontite ???"...no problem Sal...in a word burnett, didn't he chompuraazzz once already...another word, joba in the 6th-7th...you have been warned.

Bud said...

aj burnett is alot better than pedro.................he sucks now..........87 mph fastballs ............and he too scared to throw strikes...........i wouldn't swing the bat til he gets 2 strikes

Bud said...

LMAOOOOOOOOOOOOOOOOOOOOOOOOOOO ace



PS.................why you so much interested in jim's bathroom frosty?? oh......i know why.......cuz you're a fag


PPS.........still wanna be friends???

Bud said...

yankees just need to have a lead thru 7 innings..............mariano pitchin 2 innings tonite............he may even come in the 7th if they have a lead and phillies are rallying

mfl59 said...

"I know for a fact dudes have been riding me"


index card indeed....

Frosty said...

Phils appeared to be having fun, like they have won one this decade...yanks gipping, how tight they gonna be tonight...bet arod could snap a pencil with his aazzz.

Spin-em said...

I agree Pedro...hope Zimmer charges outta stands....but no pressure Pedro...pressure AJ...."OMG CC LOST..ITS UP TO ME??" hes a head case..ring up 6 anytime

Mariano 7th?.....Phil HR Coke....Brian clear the bases Brunney,Bugsy Chamberlain

sharpen the steak knife mike...loool

Spin-em said...

GIANTS,EAGLES,DALLAS,WASH....NFC EAST GARBAGE