I mean Obama to his worshipers in Europe.
Do they expect a cultured sophisticate ? A glassy-eyed greenie ? Or a poodle for their socialist ideas ? I think the pop cultural reaction might be the most interesting thing to come out of this European vacation for Obama. As far an anything substantive, I expect nothing.
Europe and the rest of the world want the US to be the engine of economic growth again, but then gripe about the US ... being the leader. Europe and the rest of the world want the US to buy their goods ... and then gripe about US current account deficits and the US need to sell dollar debt the world. Do you see the contradictions ? In the end, the long term cure for the problems in the other nations economies require a shift to more consumer demand and internal or regional consumer demand, not exports. But those nations did not make the changes when times were good, as they should have. So they all get an F.
Now the US ... if one would spark those memory cells a bit, one would remember that the US WAS shifting more from a consumer, import-dominant economy to one more export oriented WHEN times were good. As the dollar was falling, the US was indeed exporting a lot more. Who was fixing problems in international trade when times were good ? The US.
Hello world ? Fix your own messes before you deign to tell us what to do. Otherwise, you suffer your condign* fates.
[*see word of the day]
Memory
It's remarkable how much learning a language helps one's memory and mind. I have noticed that I can remember new words and facts and relationships much better after seven months of effort in French. So I am now trying a bit of German, too. Maybe I'm now using areas of my brain long neglected. Whatever it is, it does work.
German pronunciation seems quite easy for me, a native English speaker, compared to French or Russian. This is just a small effort now.
Markets
The big drop yesterday should be no shock. After a 25% move up, a big pullback is natural. I'm happy to see lower prices for my planned buying in April.
Word of the Day
"Condign" - adjective [$10]; from the card file and my reinvigorated memory
Condign means deserved, adequate; (of a punishment) severe and well-deserved.
Sentence: see * above.
Le Mot du Jour
"Redresser" - verb, transitive, regular -er conjugation.
Redresser means 1. to straighten up, to knock out, to rectify; 2. to right; 3. to put right.
Le Phrase: Est-ce que Obama peut redresser GM?
Sentence: Can Obama straighten up GM?
Tuesday, March 31, 2009
Monday, March 30, 2009
He bought it.
Obama now owns the problems of GM and the auto industry. By forcing out the GM CEO, Obama now becomes the face of the auto industry and will be perceived by the public as its savior or its destroyer. Politically, this seems to be an error, but I suppose he needs a CEO scalp to wave when the US provides DIP* financing for the auto industry. [*DIP means debtor in possession financing in bankruptcy, which is super-senior before all other creditors.]
Timmy Geitner blabs again about banks needing capital, without specifics. Why does he do this ? More and more, he is showing himself to be a minor league player in the "Show". The bears are attacking this morning with all markets down sharply, thanks to Timmy. Hello Timmy ... shut up until you have something clear to say and do.
Personally, I'm happy to see a pullback. My sales in Obama Fund combined with the new money in April mean I can re-load and add at lower prices.
French newspapers have much talk about new restrictions on executive pay. Over the weekend, I commented to another that it seems the left was right when complaining over the past 15 years that executive pay compared to the pay of the average worker was out of line. We now see that such executive pay was wasted and did not conduce lasting value. Shareholders and Boards of Directors really blew it in paying these guys so much while stock prices were rising, as many were taking excessive risks and inflating stock prices with buybacks, tax tricks, etc., when business growth and debt paydown would made been correct behavior.
[ Did you notice that 'clever' contraPUNtal expression - the "left was right" ? ]
G20 b***s*** [that's 'connerie' in French] is all over the news. Ugh ... this reminds me of Davos: the godlike government leaders to be our saviors.
That reminds me - a friend mentioned a link to a South Park episode which is so hilarious, I was convulsing with laughter for 20 minutes. This is the same one which a loquacious commentor mentioned a few days ago in the comments. Here is a link to view it online.
http://www.xepisodes.com/episodes/1303/Margaritaville.html
Word of the Day
"Tacit" - adjective [$10]; an easy one from the files
Tacit means understood or implied without being stated.
Sentence: Bankrupcty restructuring for GM and Chrysler is the tacit message of the weekend's leaks about the auto industry. This is no surprise to anyone who is realistic about the industry and companies.
Le Mot du Jour
"Encadrer" - verb, regular -er conjugation.
Encadrer means 1. to frame; 2. to train and supervise, to restrict, to take in hand; to frame, to surround.
La Phrase: Nouvelle conduite par les actionnaires devrait encadrer les rémunérations des diregeants des entreprises. S'ils n'est pas stupides.
Sentence: New supervision by shareholders should restrict the remuneration of executives of companies. If they aren't stupid.
Timmy Geitner blabs again about banks needing capital, without specifics. Why does he do this ? More and more, he is showing himself to be a minor league player in the "Show". The bears are attacking this morning with all markets down sharply, thanks to Timmy. Hello Timmy ... shut up until you have something clear to say and do.
Personally, I'm happy to see a pullback. My sales in Obama Fund combined with the new money in April mean I can re-load and add at lower prices.
French newspapers have much talk about new restrictions on executive pay. Over the weekend, I commented to another that it seems the left was right when complaining over the past 15 years that executive pay compared to the pay of the average worker was out of line. We now see that such executive pay was wasted and did not conduce lasting value. Shareholders and Boards of Directors really blew it in paying these guys so much while stock prices were rising, as many were taking excessive risks and inflating stock prices with buybacks, tax tricks, etc., when business growth and debt paydown would made been correct behavior.
[ Did you notice that 'clever' contraPUNtal expression - the "left was right" ? ]
G20 b***s*** [that's 'connerie' in French] is all over the news. Ugh ... this reminds me of Davos: the godlike government leaders to be our saviors.
That reminds me - a friend mentioned a link to a South Park episode which is so hilarious, I was convulsing with laughter for 20 minutes. This is the same one which a loquacious commentor mentioned a few days ago in the comments. Here is a link to view it online.
http://www.xepisodes.com/episodes/1303/Margaritaville.html
Word of the Day
"Tacit" - adjective [$10]; an easy one from the files
Tacit means understood or implied without being stated.
Sentence: Bankrupcty restructuring for GM and Chrysler is the tacit message of the weekend's leaks about the auto industry. This is no surprise to anyone who is realistic about the industry and companies.
Le Mot du Jour
"Encadrer" - verb, regular -er conjugation.
Encadrer means 1. to frame; 2. to train and supervise, to restrict, to take in hand; to frame, to surround.
La Phrase: Nouvelle conduite par les actionnaires devrait encadrer les rémunérations des diregeants des entreprises. S'ils n'est pas stupides.
Sentence: New supervision by shareholders should restrict the remuneration of executives of companies. If they aren't stupid.
Friday, March 27, 2009
TGIF and taxes
Ugh ... it's time to do my taxes. I do my own with a spreadsheet that I wrote long ago and have slowly embellished. The spreadsheet simply mimics the actual tax forms and worksheets that I need, so when I'm done, I can just copy the entries onto the actual forms with perfect arithmetic. But I still have to compile all the data, which is a lot of work. I think I'll start today with the brokerage statements, that have to be combined for aggregate numbers for things like interest and dividends, etc.
More ...
The Brazilian president made some stupid statements about "white people" with "blue eyes" causing the crisis. I suppose he's speaking to the folks back home. And he seems to have never taken a look at Stan O'Neal of Merrill Lynch debacle fame.
Markets
Another up day. The few living bulls are very wary and the more numerous bears are complacent, either lurking in the woods (in cash) for victims to maul or suffering as their existing shorts are bleeding while they wait for (certain) redemption. It makes me wonder about this market. I've written before about the 1974 analogy. Today Blabberg described it rather well from the charts - that is, if you were up at 3:30 AM ET to watch it. The guy did a pretty good job. He was British, by the way. That figures. Few American faces can articulate a complex thought.
The 1974 analogy implies a fast rally back to around S&P 1500 in 18 months. That would completely kill the bears with losses or permanent underperformance. Aw shucks, can it really happen ? Of course, analogies are just ... analogies.
Word of the Day
"Invious" - adjective [$1000] and "inviousness" - noun [$1000]; obsolete
Invious means impassible; inaccessible; without paths or roads; trackless.
Inviousness means the state or condition of being invious.
Example from geography (original usage): some places in the Rockies, or the Scottish highlands, or Siberia.
Sentence: The bears (and Krondrativans) claim that Tolstoyan historiography applies: that the economic crisis is invious and man cannot find a short cut out of lengthy purgatory. The bulls deny this, thinking that massive monetary expansion to replace vanished credit, plus plenty of stimulus to generate demand, is the short cut to economic paradise, viz., moderate growth. Time will tell.
Le Mot du Jour
"Internaute" - noun, MF.
Internaute means net surfer, Internet user.
La Phrase: Augmenter les nombres des internautes tue lentement des journals.
Sentence: Increasing the numbers of internet users is slowly killing newspapers.
More ...
The Brazilian president made some stupid statements about "white people" with "blue eyes" causing the crisis. I suppose he's speaking to the folks back home. And he seems to have never taken a look at Stan O'Neal of Merrill Lynch debacle fame.
Markets
Another up day. The few living bulls are very wary and the more numerous bears are complacent, either lurking in the woods (in cash) for victims to maul or suffering as their existing shorts are bleeding while they wait for (certain) redemption. It makes me wonder about this market. I've written before about the 1974 analogy. Today Blabberg described it rather well from the charts - that is, if you were up at 3:30 AM ET to watch it. The guy did a pretty good job. He was British, by the way. That figures. Few American faces can articulate a complex thought.
The 1974 analogy implies a fast rally back to around S&P 1500 in 18 months. That would completely kill the bears with losses or permanent underperformance. Aw shucks, can it really happen ? Of course, analogies are just ... analogies.
Word of the Day
"Invious" - adjective [$1000] and "inviousness" - noun [$1000]; obsolete
Invious means impassible; inaccessible; without paths or roads; trackless.
Inviousness means the state or condition of being invious.
Example from geography (original usage): some places in the Rockies, or the Scottish highlands, or Siberia.
Sentence: The bears (and Krondrativans) claim that Tolstoyan historiography applies: that the economic crisis is invious and man cannot find a short cut out of lengthy purgatory. The bulls deny this, thinking that massive monetary expansion to replace vanished credit, plus plenty of stimulus to generate demand, is the short cut to economic paradise, viz., moderate growth. Time will tell.
Le Mot du Jour
"Internaute" - noun, MF.
Internaute means net surfer, Internet user.
La Phrase: Augmenter les nombres des internautes tue lentement des journals.
Sentence: Increasing the numbers of internet users is slowly killing newspapers.
Thursday, March 26, 2009
Lots of Clues
The news stories of yesterday and today have lots of clues that the decline caused by last fall's panic might be over. Existing home sales increased. Durable goods orders increased. From the past weekend, multiple bidders competed for California homes at the new, low prices. All that is news from the "real" economy.
Meanwhile, reports that short sellers actually increased their positions in recent weeks was quite intriguing. And the ideologues and marionettes of the short sellers are out in force claiming great benefits and little harm from bear raids. Or that such don't exist. One would think the Soros article yesterday would shut them up, but no, the WSJ has another silly piece today. WSJ Online: "The short-sellers probably saved us five to 10 years of poor bank earnings, writes Andy Kessler" What a dope ! They caused a panic that led to a few million people losing their jobs and destroyed a few major financial institutions. I suppose Andy Kessler would write that the Vikings invigorated Europe by looting the monasteries.
Ideology can certainly blind people to facts.
Last week's analysis in this blog on the sleazy role of AIG in the financial markets got proof in today's WSJ Online.
"Banque AIG enabled AIG to generate revenue by helping European banks lower the amount of capital they are required to hold to protect against losses on assets such as mortgage and corporate loans. ...
"In the event of a default, European banks that have done these trades with AIG could be forced to take back responsibility for billions of dollars in assets. That could require them to raise billions of dollars in capital, AIG has said.
"In May 2007, a British executive in the financial-products office in London told investors: 'For the European banks and the Asian banks, this is very much a regulatory capital arbitrage business. By structuring their businesses, whether it's their mortgage lending or their corporate loans into these sorts of trades and tranching the risk up, they're able to significantly reduce the capital they have to hold against their portfolios.' "
It was all just a scam to beat the sleepy or compromised regulators.
Markets
I made some sales in Obama Fund yesterday near the early highs of the day. Obama Fund are at 150% long and I reduced it to about 120% long. I'll reload on a serious dip. Sales: all of GE and FCT; 1/2 of MS, FCX, MT, X; 1/3 of CETV, CAB. All those positions had received had adds much lower, so were a big large. I own more GE in Fido Fund, so just chucked the Obama Fund piece.
By the way, the price of copper is over $1.80 this morning.
Word of the Day
"Monkeyshine" - noun [$10]; US Colloquial, a Mencken word.
Monkeyshine = monkey tricks or monkey business, meaning mischief.
Sentence: Monkeyshine of beefer short sellers is hazardous to the jobs of the common man.
Le Mot du Jour
"Supprimer" - verb, regular -er.
Supprimer means 1. to delete, to remove; 2. to cancel; 3. to do away with, elimnate.
La Phrase: Beaucoup de entreprises suppriment emploies en payant les primes à leurs dirigeants.
Sentence: A great many companies eliminate jobs while paying bonuses to their executives.
Meanwhile, reports that short sellers actually increased their positions in recent weeks was quite intriguing. And the ideologues and marionettes of the short sellers are out in force claiming great benefits and little harm from bear raids. Or that such don't exist. One would think the Soros article yesterday would shut them up, but no, the WSJ has another silly piece today. WSJ Online: "The short-sellers probably saved us five to 10 years of poor bank earnings, writes Andy Kessler" What a dope ! They caused a panic that led to a few million people losing their jobs and destroyed a few major financial institutions. I suppose Andy Kessler would write that the Vikings invigorated Europe by looting the monasteries.
Ideology can certainly blind people to facts.
Last week's analysis in this blog on the sleazy role of AIG in the financial markets got proof in today's WSJ Online.
"Banque AIG enabled AIG to generate revenue by helping European banks lower the amount of capital they are required to hold to protect against losses on assets such as mortgage and corporate loans. ...
"In the event of a default, European banks that have done these trades with AIG could be forced to take back responsibility for billions of dollars in assets. That could require them to raise billions of dollars in capital, AIG has said.
"In May 2007, a British executive in the financial-products office in London told investors: 'For the European banks and the Asian banks, this is very much a regulatory capital arbitrage business. By structuring their businesses, whether it's their mortgage lending or their corporate loans into these sorts of trades and tranching the risk up, they're able to significantly reduce the capital they have to hold against their portfolios.' "
It was all just a scam to beat the sleepy or compromised regulators.
Markets
I made some sales in Obama Fund yesterday near the early highs of the day. Obama Fund are at 150% long and I reduced it to about 120% long. I'll reload on a serious dip. Sales: all of GE and FCT; 1/2 of MS, FCX, MT, X; 1/3 of CETV, CAB. All those positions had received had adds much lower, so were a big large. I own more GE in Fido Fund, so just chucked the Obama Fund piece.
By the way, the price of copper is over $1.80 this morning.
Word of the Day
"Monkeyshine" - noun [$10]; US Colloquial, a Mencken word.
Monkeyshine = monkey tricks or monkey business, meaning mischief.
Sentence: Monkeyshine of beefer short sellers is hazardous to the jobs of the common man.
Le Mot du Jour
"Supprimer" - verb, regular -er.
Supprimer means 1. to delete, to remove; 2. to cancel; 3. to do away with, elimnate.
La Phrase: Beaucoup de entreprises suppriment emploies en payant les primes à leurs dirigeants.
Sentence: A great many companies eliminate jobs while paying bonuses to their executives.
Wednesday, March 25, 2009
A Whatnot Wednesday
You ask, "what's a whatnot ?"
"Whatnot" is a noun meaning (1) a small, trivial, or unspecified object, or (2) a set of light, open shelves for ornaments. Today's blog contains small items in an open format, hence is a whatnot of whatnots, figuratively.
The Bloviator continues to bloviate the blather of buncombe.
Successful hedge fund managers make billions. And pay low taxes on their skim. Unsuccessful hedge fund managers close their funds and go out to raise more money for new funds so their fee "high water mark" can be low again. The analogy is re-pricing stock options. Heads they win, tails investors lose.
The press reports more whiners and worryers.
Japan GDP falls 12% in Q4 and exports are cut in half. Nations like Japan need a balanced economy with local consumer demand. They cannot expect the US to pull their wagon again.
Ukraine nears financial meltdown. Unfortunately, that nation blew its chance to reform when times were good, so the suffering of the people will likely be great.
The Czech government falls.
A WSJ article about pensions in Hungary shows why its pension system is bankrupting the nation. A 40 year old guy with an injured foot gets a paycheck for life. No retraining, etc. Of course he could do a job sitting on his butt answering the phone or doing paperwork. In some ways it's similar to the pension systems for many US State governments. They will be a huge burden on taxpayers forever unless reformed.
The "card check" bill that would let union goons force people to sign up and then let the union get recognized is losing steam. Good - that was one of the worst ideas ever to hit Washington. Imagine, legislating Stalinist union "elections".
Markets
The big rally held rather well yesterday. I have subscribed to the HBC rights offering in Fido Fund, as did Mrs. B in her Sky Fund.
Word of the Day
"Protreptic" - adjective and noun [$1000]
Protreptic means (adjective) directive, instructive, didactic; (noun) a book, writing or speech intended to exhort or instruct; an exhortation, instruction.
Sentence: When will Obama get off his interminably protreptic butt and do something ?
Le Mot du Jour
"Exprimer" - verb, regular -er conjugation; "s'exprimer" - the related pronominal verb.
"Exprimer" means to express.
"S'exprimer" means to express oneself.
La Phrase: Obama s'exprime, et s'exprime, et s'exprime sans cesse. Faites quelque chose !
Sentence: Obama expresses himself, and expresses himself and expresses himself endlessly. Do something !
"Whatnot" is a noun meaning (1) a small, trivial, or unspecified object, or (2) a set of light, open shelves for ornaments. Today's blog contains small items in an open format, hence is a whatnot of whatnots, figuratively.
The Bloviator continues to bloviate the blather of buncombe.
Successful hedge fund managers make billions. And pay low taxes on their skim. Unsuccessful hedge fund managers close their funds and go out to raise more money for new funds so their fee "high water mark" can be low again. The analogy is re-pricing stock options. Heads they win, tails investors lose.
The press reports more whiners and worryers.
Japan GDP falls 12% in Q4 and exports are cut in half. Nations like Japan need a balanced economy with local consumer demand. They cannot expect the US to pull their wagon again.
Ukraine nears financial meltdown. Unfortunately, that nation blew its chance to reform when times were good, so the suffering of the people will likely be great.
The Czech government falls.
A WSJ article about pensions in Hungary shows why its pension system is bankrupting the nation. A 40 year old guy with an injured foot gets a paycheck for life. No retraining, etc. Of course he could do a job sitting on his butt answering the phone or doing paperwork. In some ways it's similar to the pension systems for many US State governments. They will be a huge burden on taxpayers forever unless reformed.
The "card check" bill that would let union goons force people to sign up and then let the union get recognized is losing steam. Good - that was one of the worst ideas ever to hit Washington. Imagine, legislating Stalinist union "elections".
Markets
The big rally held rather well yesterday. I have subscribed to the HBC rights offering in Fido Fund, as did Mrs. B in her Sky Fund.
Word of the Day
"Protreptic" - adjective and noun [$1000]
Protreptic means (adjective) directive, instructive, didactic; (noun) a book, writing or speech intended to exhort or instruct; an exhortation, instruction.
Sentence: When will Obama get off his interminably protreptic butt and do something ?
Le Mot du Jour
"Exprimer" - verb, regular -er conjugation; "s'exprimer" - the related pronominal verb.
"Exprimer" means to express.
"S'exprimer" means to express oneself.
La Phrase: Obama s'exprime, et s'exprime, et s'exprime sans cesse. Faites quelque chose !
Sentence: Obama expresses himself, and expresses himself and expresses himself endlessly. Do something !
Tuesday, March 24, 2009
So What ?
That seems to be the jizz* of yesterday's strong upward move in stocks from my reading of the news and a bit of painful listening to Blabberg. [aside: Why are the faces on financial news mostly imbeciles who ask stupid questions and make silly comments?]
*see Word of the Day
The move has two sparks: Timmy's plan was well-received by potential private investors and existing homes sales jumped. Regarding the former, I wonder why it took him so long to get the plan out ? The general outline was written in this blog months ago and was rather obvious. Regarding the latter, even though much of the sales were from foreclosures, clearly the bloated home inventories are being cleared slowly now. It's not getting worse. Buyers are stepping up for bargains.
More Readers ...
Now I learn that George Soros is a secret reader of this blog. Check out his op-ed in the WSJ today. Here's a quote: "it's clear that AIG, Bear Stearns, Lehman Brothers and others were destroyed by bear raids in which the shorting of stocks and buying CDS mutually amplified and reinforced each other. The unlimited shorting of stocks was made possible by the abolition of the uptick rule, which would have hindered bear raids by allowing short selling only when prices were rising. The unlimited shorting of bonds was facilitated by the CDS market. The two made a lethal combination."
And more: "Many argue now that CDS ought to be traded on regulated exchanges. I believe that they are toxic and should only be allowed to be used by those who own the bonds, not by others who want to speculate against countries or companies. "
Good ideas, George. Sigh ... imitation is indeed the sincerest form of flattery ;)
By the way, above for the first time in an actual post, I borrowed from the text message dialect of written English to use its sign ;) to mean I am joking about something. It's a wink. I think this is appropriate now as this blog is becoming more multilingual with my French phrases, so adding the text message dialect fits, too.
PS: If you are voting proxies on stock you own, I urge you to vote against executive compensation plans, against any directors of companies which have cut dividends, and in favor of shareholder proposals that seem to help shareholders get more power. I just voted against all GE directors and in favor of all five shareholder proposals.
Word of the Day
"Jizz" - noun [$10]; a reprise selection
Jizz means the characteristic (immediate) impression given by an animal or plant.
Sentence: Yesterday's huge rally had the jizz of a yawn for the public. Perhaps that signals that it's real this time ?
Le Mot du Jour
"Pouvoir" - noun, masculine [this is a common verb, too]
Le pouvior means power, ability, capacity.
La Phrase: Les pouvoirs de l'État sont grandes pour relancer l'économie.
Sentence: The powers of the State are great for reviving the economy.
*see Word of the Day
The move has two sparks: Timmy's plan was well-received by potential private investors and existing homes sales jumped. Regarding the former, I wonder why it took him so long to get the plan out ? The general outline was written in this blog months ago and was rather obvious. Regarding the latter, even though much of the sales were from foreclosures, clearly the bloated home inventories are being cleared slowly now. It's not getting worse. Buyers are stepping up for bargains.
More Readers ...
Now I learn that George Soros is a secret reader of this blog. Check out his op-ed in the WSJ today. Here's a quote: "it's clear that AIG, Bear Stearns, Lehman Brothers and others were destroyed by bear raids in which the shorting of stocks and buying CDS mutually amplified and reinforced each other. The unlimited shorting of stocks was made possible by the abolition of the uptick rule, which would have hindered bear raids by allowing short selling only when prices were rising. The unlimited shorting of bonds was facilitated by the CDS market. The two made a lethal combination."
And more: "Many argue now that CDS ought to be traded on regulated exchanges. I believe that they are toxic and should only be allowed to be used by those who own the bonds, not by others who want to speculate against countries or companies. "
Good ideas, George. Sigh ... imitation is indeed the sincerest form of flattery ;)
By the way, above for the first time in an actual post, I borrowed from the text message dialect of written English to use its sign ;) to mean I am joking about something. It's a wink. I think this is appropriate now as this blog is becoming more multilingual with my French phrases, so adding the text message dialect fits, too.
PS: If you are voting proxies on stock you own, I urge you to vote against executive compensation plans, against any directors of companies which have cut dividends, and in favor of shareholder proposals that seem to help shareholders get more power. I just voted against all GE directors and in favor of all five shareholder proposals.
Word of the Day
"Jizz" - noun [$10]; a reprise selection
Jizz means the characteristic (immediate) impression given by an animal or plant.
Sentence: Yesterday's huge rally had the jizz of a yawn for the public. Perhaps that signals that it's real this time ?
Le Mot du Jour
"Pouvoir" - noun, masculine [this is a common verb, too]
Le pouvior means power, ability, capacity.
La Phrase: Les pouvoirs de l'État sont grandes pour relancer l'économie.
Sentence: The powers of the State are great for reviving the economy.
Monday, March 23, 2009
Spring comes
At long last, Spring has arrived - at least astronomically, as the vernal equinox occurred Friday morning. The crocuses are coming up as are the daffodils. Afternoon temperatures here crawl up to 50F. But there are still winter risks around as overnight temperatures still fall to 20F.
At the risk of being wrong again, I wonder if a new bull market has begun. Who is left to panic ? Companies with cash are buying beaten up firms. China is buying up resources at cycle low prices. A WSJ story over the weekend reported multiple bidders for homes in some California locations.
Obama got stuffed by Iran. Perhaps the Bloviator might now realize Iran plays by its own rules, which its leaders believe are divinely ordained.
Timmy introduces his asset purchase plan this morning. I await the details. I surmise that he will use the rumored $100 billion of government money as a first loss position to get private equity for another 10% equity, and then get a 1% nonrecourse loan from the Fed for the remaining 80%. Private equity would control the bid prices. The government would share in profits pari-passu. This is my guess (and how I would try to structure it). Details later this morning.
Obama Fund is fully invested at 150% long. Fido Fund is fully invested at 150% long. Krypto Fund needs new money in April to top off its stock and real estate investments. I expect Krypto Fund will be a buyer of stocks & real estate all year as new money flows into it.
Word of the Day
"Risible" - adjective [$10]; DO NOT confuse with irascible.
Risible means 1. a. capable of laughing; b. disposed to laugh; 2. arousing or provoking laughter: FUNNY; 3. associated with or relating to or used in laughing.
Sentence: We don't need a risible plan out of Timmy - we need a workable one.
Le Mot du Jour
"Lueur" - noun, feminine
Lueur means glimmer, (faint) light, glow
La Phrase: L'homme du bunker voit une lueur d'espoir qu'un nouveau marché haussier à commencé ce mois.
Sentence: Bunkerman sees a glimmer of hope that a new bull market began this month.
At the risk of being wrong again, I wonder if a new bull market has begun. Who is left to panic ? Companies with cash are buying beaten up firms. China is buying up resources at cycle low prices. A WSJ story over the weekend reported multiple bidders for homes in some California locations.
Obama got stuffed by Iran. Perhaps the Bloviator might now realize Iran plays by its own rules, which its leaders believe are divinely ordained.
Timmy introduces his asset purchase plan this morning. I await the details. I surmise that he will use the rumored $100 billion of government money as a first loss position to get private equity for another 10% equity, and then get a 1% nonrecourse loan from the Fed for the remaining 80%. Private equity would control the bid prices. The government would share in profits pari-passu. This is my guess (and how I would try to structure it). Details later this morning.
Obama Fund is fully invested at 150% long. Fido Fund is fully invested at 150% long. Krypto Fund needs new money in April to top off its stock and real estate investments. I expect Krypto Fund will be a buyer of stocks & real estate all year as new money flows into it.
Word of the Day
"Risible" - adjective [$10]; DO NOT confuse with irascible.
Risible means 1. a. capable of laughing; b. disposed to laugh; 2. arousing or provoking laughter: FUNNY; 3. associated with or relating to or used in laughing.
Sentence: We don't need a risible plan out of Timmy - we need a workable one.
Le Mot du Jour
"Lueur" - noun, feminine
Lueur means glimmer, (faint) light, glow
La Phrase: L'homme du bunker voit une lueur d'espoir qu'un nouveau marché haussier à commencé ce mois.
Sentence: Bunkerman sees a glimmer of hope that a new bull market began this month.
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