From the August Archives

Your favorite Reformed Broker‘s taking a much-needed day off today.  While you’re reading this, I’ll be at an amusement park with the family going for a world record in funnel cake eating/ roller coaster riding. Below are some recent posts I did that you may have missed.  If you saw them all already, then I’ll…

Did We Fall Off The Bull Today?

[youtube=http://www.youtube.com/watch?v=T5ZrTO7yRYI] Nasty bank failure/ secondary rumors all day today… Banks down 4.5%, Oil back under $70, AIG down another 8, Dow down 180 points with a little more than an hour left. Guess we’ll see.

Dear Deadbeat States, Please Pay Your Mortgages

I don’t like to point fingers or anything, but it seems that in July 2009, only 7 of our 50 states were responsible for 67% of the nation’s property foreclosure filings.  That’s right, two thirds of the foreclosures are in…well, I’ll let you name the states. That’s right.  California, Florida, Texas, Arizona, Nevada, Georgia and…

The Bankrupt Stock Casino Stays Open

Oooh, Superfly You’re gonna make your fortune by and by But if you lose, don’t ask no questions why The only game you know is Do or Die -from Superfly by Curtis Mayfield   I got a call the other day from a friend of mine looking to buy shares of bankrupt Lehman Brothers, which…

Hot Links: Venom Mickey

Stuff I’m Reading this Morning… FDIC’s Sheila Bair makes the case against having just one banking super-regulator in this morning’s op-ed.  (NYT) Are you following the JunkDEX?  Guess what the components are…lol.  (VIXandMore) Check this huge graphic out: The Anti-Fed Fact Sheet.  (VisualEconomics) Chinese ADR’s outperforming actual Chinese stocks…’cause we westerners know better what your…

Tomorrow's Business Headlines?

I’m not saying these hypothetical headlines are likely, but I also wouldn’t fall out of my chair if one of ’em popped up in some variation or another. “JPMorgan’s Dimon Jealous Of AIG And Citi, Wants Back In To The TARP” “Four Hundred Percent Of All Homeowners Underwater On Two Hundred Fifty Percent Of Their…

Giving Cramer Credit For His Citigroup Call

I know, I know…Cramer‘s picks underperform the market and Cramer’s hedge fund performance performance was all from IPO’s and Cramer makes out with Lenny Dykstra and blah blah blah. I don’t have time to do a whole Defending Cramer piece right now and I’m not interested in having this post turned into a warzone for…

Hot Links: Facebook's Ticker, HP's Earnings & Coke's Milk

Stuff I’m Reading this Morning… Way overdue:  Howard Lindzon decides to assign stock ticker symbols to Twitter and Facebook.  (HowardLindzon) Hey anarchists, the US government is starting to turn a profit on the chaos loans.  (NYT) Mutual Funds blowing out shares of consumer spending plays, retailers etc.  (Bloomberg) Pretty provocative stuff for Newsweek: Is The…

FDIC IOU's? Not Quite Yet…

If you lost track of what’s happening with the FDIC, one of the few competent bank-related regulatory institutions we have left, they’ve overseen the failure of about 84 banks so far in 2009. The FDIC had a fund to insure these banks’ depositors of about $53 billion a year ago, which had dropped to only…

The Yuppie Bounce

Go try to find an interview with virtually any sell-side analyst or money manager either in print or on financial television from this past February. Most told you to be completely out of stocks, understandably. The ones who did have the courage lack of choice and had to be recommending stocks in the media were…