This is what it must feel like to have been short AIG this month… [vodpod id=Groupvideo.3212572&w=425&h=350&fv=%26rel%3D0%26border%3D0%26] X X X Full Disclosure: I have no positions, long or short, in shares of AIG for client or personal accounts. Nothing on this site should be construed as advice or an invitation to buy or sell any securities,…
stocks
The Five Stages of Panic Buying
I talk to a ton of traders, portfolio managers, brokers and high net worth investors, both on and off Wall Street. Most of them have engaged in a bit of panic buying at some point this summer as the 50% rally in US stocks surprised many smart players. Panic buying is what happens when you…
Doug Kass: 10 Reasons Why The Market Has Likely Peaked For The Year
“I am less confident as a decade of hocus-pocus borrowing and lending and 35-to-1 leverage at almost every level in both private and public sectors cannot likely be relieved in the great debt unwind over the course of only 12 months.” -Doug Kass, August 26th 2009 Doug Kass has made some tremendous calls over the…
China Pulls Out All the Props
In the face of the possible Panda Bear Market we discussed here yesterday, it seems that the guys who pull the levers in China have opted to prop up stocks rather than let nature take it’s course. According to Reuters, they have three viable options to consider as the central bank tightens rates: Halt New…
5 Midget Banks I'm Watching
With the breathtaking run-up in larger banks like Wells Fargo and Bank of America, many traders are now looking at the smaller, lower quality names in the banking sector for back-from-the-dead survival plays. Above is a quick comparison I’ve put together of some of the second/ third tier banks, the ones with more regional exposure…
Enter the Panda Bear: Chinese Stocks Down 20%
The Chinese stock market, as represented by the Shanghai Composite, has doubled from it’s low this year and then peaked out in mid-July. Since it’s high last month, it has given back about 20%, which is the standard measurement of what constitutes a Bear Market. I am coining the phrase Panda Bear Market to describe this…
FOMC Day! Get Your Programs!
I love FOMC Day! From the moment I wake up, my stomach is filled with butterflies, really pretty purple and pink ones, as I look forward to the 2 o’clock hour. At this appointed hour, the chairman of the world’s most secretive monetary institution descends from on high with his stone tablets, which are emblazoned…
Paul Wilmott on High Frequency Trading
This is a very important perspective on what the rise of High Frequency Trading may mean to our markets and the companies that trade on them. The piece is short on empirical evidence but long on common sense. The main questions raised in the op-ed are: Is the liquidity argument that HFT proponents spout so…
Bespoke's Best and Worst Earnings Reactions: Q2 2009
Bespoke rocks. For those of us who play earnings season like a full contact sport, it’s nice to have a scorecard. Below is a look at how your favorite names traded after releasing their earnings (or lack thereof) this quarter. I’ve posted the winners, for the worst reactions, visit Bespoke Investment Group: BIG
Breakfast Links: Pinning Down Roubini
Stuff I’m Reading this Morning… OMG, some my fave links of the month so far today! Blankfein to Goldman employees: “Please refrain from wearing your crowns outside of the office”. (New Yorker) The recession is now screwing with the British pub business, time for us to get serious. (USA Today) Just try pinning down Nouriel…
