PrudentMan, CFA

65 Comments

    • Monetary Madness: Global Margin Call Underway [view article]
      bin Laden's money flow is drying up as the oil and stock markets collapse is at least one positive. Now if the idiots out there would quit buying their drugs.

      As one who believes that we will have no free markets without a strong defense, this is more important than few believe. Proof is that the media doesn't get it.       Oct 06 06:08 PM
    • Wells Fargo Swoops in on Wachovia: Days of 'Something-for-Nothing' Likely Over [view article]
      Don't complain about the ignorant, incompetent, greedy politicians as they are just being politicians and you have given them all of this power over our economy. All these politicians live in homes outside of the government pay because of kickbacks.

      Time to give the next president, whomever that may be, the line item veto, then put on a full court press to rid Congress of the professional term seekers and enact Congressional term limits. This may not answer all of out problems but two of the most egregious professional politicians, Chris Dodd whose father got chased out of office, and Barney Frank whose addition to the discourse is to insult his adversaries which Bill O'Reilly shoved down his fat throat and the fat slob ran off the set. What a "guy?".

      Rid of us all these "experienced"... policians and we wouldn't have the current credit crisis.



      Oct 05 06:18 PM
    • Is the Dollar Becoming Less Global? [view article]
      A lot of excellent companies in the world without any debt. The question is whether they will survive the Government Capitalism which will, sooner or later, lead to one world government which the Goldman people have been banking on for fifteen years and now that they have Buffett on board along with Rubin and his Manchurian Candidate, Thain and Paulson. Goldman's "shadow government" has had people in high government positions for decades. Now they not only control stock and bond markets but government finances.

      Wake the f... up!!
      Sep 29 02:25 PM
    • Rescuing the U.S. Dollar [view article]
      The unthinkable didn't happen! The unthinking happened. Anyone who didn't understand that the credit/derivative bubble wasn't going to blow up must have been a Harvard or Wharton prof.

      The world has been living in a dreamland by spending future earning and now that future is upon on us and there are no earnings. Unfortunately, the power structure of the world was living in this denial and the media bowed down to them as they don't employ anyone with objective, realistic business or financial experience.

      We are waking up from the dream and it is on our watch. No political poll is valid as they represent the dreamers. We had a dream and it turned into a nightmare.

      Some want to distribute the wealth but will end up distributing pain.
      Sep 29 12:33 PM
    • JPMorgan: Options Investors Cashing In [view article]
      I admit I made a few bucks on these options but I am not so delusional to think these banks can manage these assets when they have trouble with managing the spread.

      They are getting what many uninformed call "too big to fail" which means too big. And, too big means they will certainly fail. This band aid may work for a while but this is a recipe for financial disaster not a solution.

      Welcome to Government Capitalism and the end of Free Enterprise.

      I have never been so pessimistic since it looked like Jimmy Carter may be reelected. Hopefully another Reagan may come along but certainly Obama isn't even in the same planet but he has the One World Government supporters in his corner and they are getting their way now.       Sep 29 12:13 PM
    • How to Rescue a Bank [view article]
      Does anyone believe Bank of America and Citigroup can manage the junk yard they own? A bank that has trouble with managing the spread.

      The Government Capitalism of Goldman now has Thain, Rubin with his Manchurian Candidate, along with fellow traveler Paulson controlling the securities, bond, banking and federal financial markets.

      Wake up and see the trees in the forest.       Sep 29 11:51 AM
    • Bye, Bye U.S. Dollar? [view article]
      Bye, Bye Free Enterprise and hello to Government Capitalism and the U.S.'s capitulation to the Council of Foreign Relations (CFR) one world government.

      All the big boys are on board, led my the statists at Goldman. Took fifteen years for Robert Rubin's mission to be accomplished. When his Manchurian Candidate takes over Free Enterprise will be dead if it already isn't.

      The left/liberal will be surprised when they find out how they were used and I hope I survive my cancer to see the smugness wiped off of their arrogant faces. They will live on the handouts like the rest of us.       Sep 29 11:23 AM
    • Is Paulson's TARP a TRAP? [view article]
      You may know more than Buffett or Bill Gross who believe the government, as I do, can make a fortune but I don't know the size of success of the portfolios you manage, if you manage any. Think the spread between what the Treasury pays for money and the cash flow.

      Manage correctly, which is easy but easy is difficult for Wall Street to comprehend, this is the greatest U.S. Government arbitrage, in fact of any arbitrage, in the world.

      Like Warren, I wish I could get a piece of the action. But, unlike Warren, I won't.

      The issuance of credit based on the value of the collateralize asset rather than the cash flow is over. You would think lenders would have learned that from the debacle years ago. Cash flow talks and hopeful appreciation walks.       Sep 25 11:20 AM
    • Crude Oil Back Above $110; Trading Halted (Briefly) [view article]
      I home it is fundamentals but I don't know what made such a big change since Friday, fundamentally.

      Hopefully, markets will become rational both on the upside and the downside but markets are what they are and no one is forced to play the game.

      I won't and I don't.       Sep 22 05:32 PM
    • Big Week for ETFs [view article]
      Proof that all the volume is caused by program traders who have been dominating the markets for year and care nothing about investing. Sep 14 05:09 PM
    • The Nature of Risk [view article]
      There is no way to all the risks and to think statistical analysis can do it is plain sophistry. Ask the guys at LTCM and the people who went to work at the Twin Tower seven years ago.

      To use statistics to try and understand risk is lazy. Considering that human nature is impossible to explain, what makes anyone think a computer can make sense of what they are going to do. Statistics can measure some risks but it is my experience that one should not put much confidence, let alone wealth, in anyone trying to predict using them.

      Good old fundamentals combined with technical analysis, intellect, skill and guts will trump any statistician, none of whom I ever heard of making big money in markets for any substantial period of time. Even a stopped clock is correct twice a day.

      The title of my Graduate School thesis decades ago was "Beta is Bull Shit". It is like telling one what was in last weeks newspaper.       Sep 11 03:43 PM
    • More on ETFs and the Trading Landscape [view article]
      ETF's, though good trading vehicles, are an investment analysts' headache. One or two companies, because of the open-end, flexible nature of etfs, can affect the price of other stocks in the security.

      Although I have made some money in ETFs, as an analyst I detest them. But, I didn't last fifty years in this business without being adaptable.
      Sep 11 11:06 AM
    • Hedge Fund Hell [view article]
      Where is the "Hedge" in Hedge Funds? These aren't hedge funds. Anyone who thinks they are should be buying T Bills. These are nothing but over-leveraged crap shooters and like all crap shooter keep playing until they lose everything.

      I just happened on this article by accident, as I asked to be removed from the e-mail list, as I usually disregard anyone who claims to be ha hedge fund manager.

      Many years ago, when I started as a professional, we actually did hedge our bets.       Sep 01 05:49 PM
    • Wal-Mart vs. Target: A Better Starting Point [view article]
      Earning per share Trumps all this intellectual exercise. Nice but a small part of the story. Aug 31 06:29 PM
    • Will Sprint's Instinct Go Satellite with Sirius XM? [view article]
      Good presentation.

      Thanks!       Aug 17 12:29 PM
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