Remember, oh…I don’t know…a week ago, when everyone talked about Dow 10,000 like it was a foregone conclusion? Not so fast!
Forbes 400 Movers and Groovers
The 2009 Forbes 400 list just came out and I found myself more interested in the rankings than I’ve been in awhile. Overall, the big guys lost money for only the 5th time since 1982. Their losses were a combined $300 billion in net worth. From Forbes: Faltering capital markets and real estate prices, along…
Hot Links: Big Bad Jobs Data & the Letterman Blackmail Affair
Stuff I’m Reading this Morning… Getting ready for the big bad jobs data coming this morning. (Bloomberg) The growling of the bears is getting louder in the blogosphere. (EconomyBeat) Merrill Lynch‘s trading floor looks like a neutron bomb hit it. (TBP) Obama‘s deficits are making Bush look like a piker. (TheAmerican) New Yorkers sound off…
Today's Bucket of Cold Water, Courtesy of Bert Dohmen
Writing for TheStreet.com this morning, Bert Dohmen (The Wellington Letter), did as good a job as anyone else I’ve read at summing up the bear case and why many issues will come home to roost beginning this October: We see many headwinds for the stock market. When Congress is in session, the stock market has…
Happy Birthday To Our Future Chinese Overlords
60 years since the founding of the Peoples Republic of China. These days, their “communism” is looking a lot more capitalist than whatever the hell it is we’re doing over here. Source: Economist.com
Newspaper Stocks Ruled the 3rd Quarter
Guess what the top-performing industry group was in the 3rd quarter? What if I told you it was the left-for-dead Newspaper Publishers? No, seriously, it was. According to data from Morningstar, the newspaper industry stocks posted a gain of 89.14% over the last 3 months and were the top performing group by a long shot…
The Fearsome Foursome Hits the Links
Dear Kenny, Glad you could make it out with us today. Don’t worry about your scores on this round, you’ll have plenty of time to improve! CUL8R, Stan the Man
Hot Links: Bear-baiting & Billboards
Stuff I’m Reading this Morning… Is a new National Sales Tax coming? Econophile says yes, it’s inevitable. (ZeroHedge) Should Moody’s get the Arthur Anderson Treatment? (Newsweek) Great first line: “Yeah, so all that business about Roger Penske stepping in and rescuing clown car manufacturer Saturn? Not so much.” (LOLFed) Cramer‘s baiting the bears…
They Won't Have Ken Lewis To Kick Around Anymore
The big breaking news this evening is the resignation of Bank of America‘s embattled CEO Ken Lewis (damn, I’ve had to type the phrase “embattled CEO” a lot this year) which will take effect on January 1st. There was plenty of speculation that this would happen as investigations into the Merrill acquisition scandal began to…
Bearslaughter: September '09 Ends True To Form
We’re at midday so anything can happen, but as of right now, September of 2009 looks to be going out on a fitting note, a nasty upside reversal after an ugly triple digit sell-off. This is extremely frustrating action to those who held/ pressed their shorts throughout this month, as stocks seemingly defied gravity. A…
