Russian Roulette

I’m meaningfully underweight the banks in the various accounts I manage having hated the sector for as long as I can remember – but that doesn’t mean days like today don’t hurt a bit.  The indices are being dragged down on the same game we were playing in 2008: Who’s Holding the Bomb?

Since Obama decided to tackle health care in the wake of the credit crisis rather than financial and banking regulation, we’re in pretty much the same boat as we were three years ago.  We simply do not have a clue as to who owns what and what is exposed to the other thing.  Any one of these bastards could be holding the bomb, so we sell all of them and hope the rest of our stuff is a safe distance away, crouching behind a line of police cars and sandbags as the market fucks with the red and green wires.

This is a high-finance game of Russian Roulette, folks.  We don’t know which chamber holds the bullet.

Is it Jeffries ($JEF), which is now in single-digits after breaking its own ribs and splaying its balance sheet innards for all to see?

Is it Morgan Stanley ($MS), a stock that has become the proxy for Euro-exposed bank stocks in the US market?

How about the other names in the $XLF – half of which are looking more 2008 everyday?

How about all those other weird non-bank financial thingies like MF Global (deceased) or Leucadia ($LUK), the poster child of opacity?

And the insurance companies?  God knows what they’ve been doing on the investment side to make those assumptions….

Are the financial sector insiders going to buy?  If not, why not?  And what do they know that they haven’t disclosed?

Who’s holding the bomb?  Where is that bullet?

Spin.

 

What's been said:

Discussions found on the web
  1. noob replica commented on Sep 18

    … [Trackback]

    […] Information on that Topic: thereformedbroker.com/2011/11/17/russian-roulette/ […]

  2. bitcoin evolution commented on Sep 30

    … [Trackback]

    […] There you will find 20979 more Info to that Topic: thereformedbroker.com/2011/11/17/russian-roulette/ […]

  3. Glock firearms for sale commented on Oct 14

    … [Trackback]

    […] Info to that Topic: thereformedbroker.com/2011/11/17/russian-roulette/ […]

  4. 안전놀이터 commented on Oct 17

    … [Trackback]

    […] Read More Information here to that Topic: thereformedbroker.com/2011/11/17/russian-roulette/ […]

  5. best cvv store commented on Oct 31

    … [Trackback]

    […] There you can find 62733 more Info to that Topic: thereformedbroker.com/2011/11/17/russian-roulette/ […]

  6. who can i pay to do my essay commented on Nov 09

    … [Trackback]

    […] Info to that Topic: thereformedbroker.com/2011/11/17/russian-roulette/ […]

  7. replica watches trusted dealers commented on Nov 25

    … [Trackback]

    […] Find More on on that Topic: thereformedbroker.com/2011/11/17/russian-roulette/ […]

  8. rbc bank online login commented on Dec 03

    … [Trackback]

    […] Read More on to that Topic: thereformedbroker.com/2011/11/17/russian-roulette/ […]

  9. replicas Best Tag Replica commented on Dec 08

    … [Trackback]

    […] Read More on that Topic: thereformedbroker.com/2011/11/17/russian-roulette/ […]

  10. Buy fresh seafood online commented on Dec 29

    … [Trackback]

    […] Info on that Topic: thereformedbroker.com/2011/11/17/russian-roulette/ […]

  11. short black wig commented on Dec 30

    … [Trackback]

    […] Read More on that Topic: thereformedbroker.com/2011/11/17/russian-roulette/ […]

  12. cats having fun commented on Dec 31

    … [Trackback]

    […] Read More to that Topic: thereformedbroker.com/2011/11/17/russian-roulette/ […]

  13. CI CD commented on Jan 15

    … [Trackback]

    […] Read More Information here on that Topic: thereformedbroker.com/2011/11/17/russian-roulette/ […]

  14. connexion a bnc commented on Jan 23

    … [Trackback]

    […] Here you can find 27103 additional Information on that Topic: thereformedbroker.com/2011/11/17/russian-roulette/ […]