Market Recap: Bank Shorts Were Lunch Meat Today

[youtube=http://www.youtube.com/watch?v=mGMT99i00M4] The Reformed Broker, AKA Jackie Treehorn, here with today’s Market Recap… Plenty of traders put on bank stock shorts on the heels of last week’s positive pre-announcement from Wells Fargo (WFC).  They didn’t like how the numbers were put together or thought the move was too much or both. Their money was confiscated today as…

The Goldman Sachs Backlash is Picking Up Steam

  Goldman Sachs (GS) has been able to stay above the fray more than most of its (former) competitors over the last 6 months.  Its share price has stayed above single digit-ville and Buffett‘s investment in the company was seen by many as the Omaha Good Housekeeping Seal of Approval.  Now that AIG has been incinerated…

Vasectomy Boomlet Another Sign of the Great Decession?

[vodpod id=Groupvideo.2350430&w=425&h=350&fv=%26rel%3D0%26border%3D0%26] I couldn’t help myself with the video, sorry. My sense of humor is not everyone’s cup of tea, but I did find this New York Times article about the uptick in vasectomy operations poignant. The doctors and health professionals quoted are all discussing the anecdotal evidence about how the bad economy is driving…

The Truth About Somali Pirates

I detest when pundits from the left trot out the whole “root causes” thing in defense of shameless acts on the part of America’s enemies.  I equally loathe the black-and-white, right-and-wrong absolute views espoused by the right when clearly, there is some crucial nuance to some of these stories. The taking of hostages or hijacking…

Hot Links: Icahn, Roubini, Sir Allen & Blockbuster

Hot Links for Weekend Reading It’s about time the Kaiser of Korporate Governance weighed in on the lack of accountability on the part of congress when doling out TARP (your) funds.  Carl Icahn wrote a sharp op-ed piece for the New York Times called “We’re Not The Boss Of AIG“.  The main thrust here is…

TGIF: Long Weekend – Remember the Name

Those of us who work on Wall Street or in the Post Office are currently in the midst of a blissful and well-deserved long weekend.  Your favorite financial blogger always worries about being forgotten. In that spirit, I’ll leave you with Mike Shinoda (of Linkin Park) and his side project Fort Minor with “Remember The…

Creating a Bailout Army of Retail Investors

I’m actually OK with this one.  If the taxpayers are going to be on the hook for the losses, they should get a crack at the upside, too (hopefully there will be an upside). And if that opportunity comes in the form of retail funds created by quality organizations like the Pimco‘s and the BlackRock‘s…so…

Market Recap: The Grouch Trade Killed You Today

The Reformed Broker, AKA The Scotch Bonnet, here with today’s Market Recap… Today’s rally was yet another face-ripper in a series of rip-your-face-off rallies.  You only get these type of up moves in a brutal bear market, so enjoy the fireworks for as long as they last. You had to be long and strong from…

Mooooooody's Tries to Prove its Not a Joke

This is classic.  After years spent gorging itself on fees from slapping paid-for “quadruple A” ratings on junk bond garbage, Moody’s (MCO) has decided now, in the Spring of 2009, to start downgrading stuff. Not only have the horses already bolted the barn, the barn itself has burned down and is a pile of smoldering ashes. Moody’s put…