http://www.youtube.com/watch?v=-j-DGrWry6k The Reformed Broker, AKA Georgie Jung, here with today’s Market Recap… Fundamentals be damned, US markets took the ball from the up overseas bourses and ran with it. The rally started at the open and anything China-related was once again, high as a kite. Copper, shippers, steels, coals…if it gets shipped to The Big…
China
TGIF Market Recap: Sail Away with the Shippers
[youtube=http://www.youtube.com/watch?v=BARLfUmyBJA] The Reformed Broker, AKA Captain Dry Bulk, here with today’s Market Recap… Quiet day on The Street today overall, but the China-related stuff was on fire. Aluminum, Building Materials and Steel names were all up nicely as of mid-day, but the show-stopper was the shipping sector in light of the DryShips (DRYS) earnings beat….
Bronx Zoo Layoffs
This is like the punchline of a bad joke… The economy in New York is so bad… “How bad is it?” It’s so bad, The Bronx Zoo is laying off 10% of their animals! From the NY Post: Layoffs in the city have spread to the animals at the Bronx Zoo. The institution is closing…
Goldman Pegs China's GDP at Lucky Number 8
From FT: Goldman Sachs has hiked its forecasts for Chinese GDP and reckons the magical growth figure of 8 per cent could be reached this year. The bank says better than expected results from November’s huge fiscal stimulus package and aggressive policy easing are behind its upgrade. Maybe Goldman understands this or maybe not, but…
Chinese Warren Buffett: Berkshire Hatha-Wei Ponzi Frozen
This is by far my favorite of all the ridiculous Ponzi’s (oh, so many to choose from!) From WSJ: A federal judge agreed to freeze the assets of a man accused of running a multimillion-dollar Ponzi scheme targeting Chinese-Americans, primarily near Dallas. The Securities and Exchange Commission charged Weizhen Tang, who describes himself as the…
