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…
Top 10 New Auto Models From Detroit Next Year
So with each passing day, the U.S. automakers seem to be closer and closer to a “gentle, targeted bankruptcy”, whatever the f@#% that means. Here’s a sneak peek at the 2010 models coming out of Detroit to a dealership near you:
Earnings Season: Wiping Lipstick Off The Pigs
As earnings season for the 1st quarter approaches, I thought I’d pass on this BusinessWeek article that is almost like a handicappers’ guide to spotting earnings red flags and number massaging. If you are daytrading, earnings season can be a veritable Candyland, with sharp swings and volatility at every turn. For those of us who…
Read This Book: Jonathan Strange & Mr Norrell
I just finished an absolute monster of a book, and although its not investment-related per se, it is a book that will absolutely turn you inside-out if you let it. The author, Susanna Clarke, spent over 10 years researching and writing the manuscript and the end result is a masterpiece. Time Magazine called it the…
This Just In: SEC's 5 New Uptick Rule Proposals
So the SEC voted to propose five uptick rule-related proposals. The comment period, during which the SEC receives feedback from member firms, will be 60 days before anything is decided on. From Pensions & Investments: Among the proposals being considered, one is to reinstate the original rule that was introduced in 1938 and was in…
The Macy's Bodyguard, and Other Little-Known Security Perks
The eagle-eyed Michelle Leder (of footnoted.org) dug up an interesting detail from a recent proxy filing by Macy’s (M) and posted it in her Dealbook column: From Dealbook (NYT): In the filing, the company (Macy’s) said it spent nearly $300,000 last year as part of the company’s “car program” to provide Terry Lundgren, the company’s chairman…
About F&%$in' Time: Homebuilders Merging
Watching the homebuilders stubbornly try to go it alone over the last few years has been highly frustrating, like an adult chaperon at the 6th grade dance watching the boys stand on one side of the gym and the girls on the other. When you have a group of companies facing this type of nosedive…
A Day in the Life: Hank Greenberg
A Day in the Life of Maurice “Hank” Greenberg 7:00 am: Wake up. CD alarm clock plays “It’s All Over Now” by The Rolling Stones. 7:05 am: Mutters “wasn’t my fault” on the way into the shower. 7:30 am: Breakfast, includes 2 egg whites, one half grapefruit, one heaping bowl of Gorilla Munch cereal (from…
