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Latest Comments89 Comments
How to Handle a Snap-Back Rally (If We Get One)
Not Everyone Is In Trouble
Speaking of idiots, Congress is front and center. Lets see, some couldn't vote for the original plan because it cost too much so 4 days later they approve a plan that costs over 100 billion MORE!
Then how about the executives at major banks and AIG? One guy smugly confirming, yeah, I got 1 million for consulting correcting the Congressman asking, no, not in a year, each month!
You want to know what's really wrong? Its the crazy "system". Where is it written that it's OK for investment banks, which by the way we don't have any more of, to leverage 20, 25, 30 even 40 to 1?
What kind of crap is it for so-called rating agencies to down grade companies' bond ratings, which drives their stocks lower, which in turn lowers the price more which makes it harder to raise capital which further delutes the current stockholder's equity. What kind of a circus is this?
What moron invented mark to market accounting?
Why did they get rid of the up tick rule?
Why are hedge funds allowed to engage in naked short selling which pushes companies to lose billions in value?
In case you haven't figured it out yet the real problem is confidence.
You can't trust what the president says, or Congress. The Bozos in charge at the Federal Reserve and Treasurary dept couldn't find their rear ends with both hands behind their back. Oh... and guess what, the fat cats on Wall Street and Main Street game the system and no matter what happens walk away with bags full og cash after wrecking companies in business for a 100 years while you see your investments race towards zero.
All that said, you know who the biggest idiots of all is?
Sorry, that would be Joe Average Investor, that's who. Just like in every Bear Market Joe at the very end panics and sells everything. Then Joe Six Pack sits on the sidelines as the market screams back up 20% or more, then gets back in missing most of the move back up.
People never learn.
Jim Cramer's 10 Predictions for 2008
How many of you have your own tv show on CNBC?
That's what I thought.
The White Elephant That Could Destroy Your Portfolio, Part I
The White Elephant That Could Destroy Your Portfolio, Part I
Talk is cheap.
Seeking E*Trade's 'Magic Moment'
Foreclosures Prove Loan Modification Isn't Working
E*Trade's Annual Shareholder Meeting Should Pressure the Shorts
I suspect E-Trade will be North of $10 by this time next year if not sooner. I'm not selling, already made a nice profit, don't even have a protective stop at this point.
The Fed Cuts One Last Time
Sell in May and Go Away?
If only I would have bought more Master Card a few days ago. ;-)
A couple months ago the "experts" were suggesting a lot of people would sell a big portion of their MC since it had gone so high so fast and switch to Visa's IPO when it came out. It has been on fire the last couple days. Other "experts" were saying wait for Vista to come down, don't buy it on right after the IPO. The experts were WRONG as usual. Just wondering, what makes these jokers experts?
Keep On Watching for Signs of a Market Bottom
Sell in May and Go Away?
So where will you put your money the next three years, under your mattress, in a tin can planted in in he backyard or get a CD paying 1.8%? There's ALWAYS a bull market somewhere.
Fed Cuts Rates, Signals Pause; Dollar Down
chemistry.wlu.edu/Digi...
I would love to be a fly on the wall to see the goings on behind close doors. Actually I don't have to imagine, I've attended all manner of meetings in my career and just about every one of them was useless.
One of the problems is just about every indicator they look at is trailing or what has already happened. That's like looking out your window seeing cars floating by and then concluding, oh it must have rained pretty hard.
The Fed has a bad track record of doing too little too late. Greenspan though he'll stand on a stack of bible and pretend it wasn't his fault pushed rates too low. Uncle Ben waiting to long to do anything, then seemed to act in panic.
My biggest problem with the Fed isn't so much what they do, rather their curious habit of deliberately speaking in a odd language of their own creation in some feeble effort to try to impress us that they know what they're doing. Nothing could be further from the truth.
Another problem is while the Fed shouldn't get involved with politics at the same time they aren't accountable to anybody either. Every Fed Chairman has has a ego bigger than Detroit which causes them to suffer the illusion they are infallable. Greenspan is the classic example. Worse, the idiots on Wall Street fell over his other to see who could be first to kiss his wrinkled butt. Disgusting!
Sell in May and Go Away?
Two words: SNAKE OIL. Bah humbug on all "theories", chart reading secrets, so-called experts and all the other crap heard here.
You want to get rich? Do your homework.
The Fed Cuts One Last Time
The FRB said what they said. While still border line double speak pig latin perfected by Greenspan what they will do next time now two months off in the future is simply too distant to forcast. Period.
While I agree the days of agressive cutting are past, suggesting they for sure won't cut another quarter or half point over the next couple meetings is AS ALWAYS uncertain and for sure will be influenced by events THAT HAVE NOT HAPPENED YET. Keep that in mind folks. Actually I'm hoping the get down to 1%, then using my quarter million dollar credit line would be sweet.