[youtube=http://www.youtube.com/watch?v=egT8-06AcSY] The Reformed Broker, AKA The Pastrami King, here with today’s Market Recap… OK stocks and sectors, take one step forward if you were lookin’ good during today’s market melt-up… Not so fast, Newspapers! The 3:30 look at the Newspaper Sector: Laggards in Price Performance (Intraday) E W SCRIPPS CL A [ssp] -9.46% A.H. BELO…
TARP
Repaying TARP for a Return to Gluttony
I challenge you to find an article about the major banks wishing to repay TARP that doesn’t blatantly cite compensation as the banks primary motivation. Here’s a taste from Dealbook (NYT): Goldman Sachs, Morgan Stanley and JPMorgan Chase have said for weeks that they want to repay their share of the $700 billion government bailout…
"Green Shoots" Are For Pandas
Lets put some overused terms out of their misery, a la “Hay is for Horses”: “Green Shoots” are for Panda Bears “Bailouts” are for Leaky Boats “Bonuses” are for Arcade Games “Treasury Departments” are for Countries That Actually Have Money “TARPs” are for Major League Baseball Rain Delays “Deflation” is for Pool Floats “Swaps” are…
Citigroup's Greatest, Bestest, Most Wonderfullest Quarter Ever (since 2007)
Oh, Vikram. Can it be true? Are you really rolling and pushing the bloated, rotting whale corpse that is Citigroup slowly back into the ocean and thus, back to life? From the New York Times: Citigroup reported first-quarter net income of $1.6 billion, after posting a loss of $5.11 billion in the period a year…
Hot Links: Icahn, Roubini, Sir Allen & Blockbuster
Hot Links for Weekend Reading It’s about time the Kaiser of Korporate Governance weighed in on the lack of accountability on the part of congress when doling out TARP (your) funds. Carl Icahn wrote a sharp op-ed piece for the New York Times called “We’re Not The Boss Of AIG“. The main thrust here is…
Domino's Pizza Rips on the 2-and-20 Set
[youtube=http://www.youtube.com/watch?v=2nggsJI6Aro] Yes! The Big Taste Bailout is for everyone, except the hedgies. You know you’re in a f%$@ed industry when even the most trailer trash pizza chain and its customers have a laugh at your expense. Has the backlash against hedge funds reached it’s zenith with this spot? What’s next, Taco Bell offers the Beefy,…
Johnny Upside: "I'm All About Distressed Assets, Yo!"
Today we bring you another interview with Johnny Upside (read the first one here). Johnny’s a Wall Street hotshot armed with an MBA, very little brain power and a limitless ego. Today, Johnny discusses his new venture, Distressed Asset Investing. The Reformed Broker: Hey Johnny, what’s happening? Johnny Upside: Happening? IT’S ALL HAPPENING, BABY! TRB:…
The Ener1 Situation is Exactly Why We Suck
I haven’t made many recommendations for clients in alternative energy stocks because a lot of the names that look commercially viable just seem too far away from profitability or are subject to drastic margin erosion (solar stocks, anyone?). I guess I’d rather be late but at least be involved in something proven. I read about…
Cuomo to Thain: I Know What You Did Last Christmas
Aww Yeah! Forget about that Jon Stewart vs. James Cramer noise…who cares? The real action is taking place in the New York State Attorney General’s Circle of Death between Andrew Cuomo aka Spitzer 2.0 and Merrill Lynch aka the Hamburglar of Wall Street. From DealBook (NYT) The office of Attorney General Andrew M. Cuomo filed…
Get-Tarp Hero: Take This TARP and Shove It
More banks giving the money back. Fabulous. I dont care that their reasons are selfish, the point is that there are winners and losers again and someone out there still has some fight left in them. From the New York Times: Financial institutions that are getting government bailout funds have been told to put off…
