Anyone viewing the current bloodbath in the global markets?

[wawaweewa]

Originally Posted by LazyJ10

Above - Wouldn't the IMF step in to ensure Italy remains solvent?

Waw x5- Plus depends on how much was done on margin.....who was it getting ripped by BAC? Paulson I think?

F BofA, hope they go to $1.02 per share.

Yeh, Paulson with BAC although I don't think he lost as much as people think. When the filings come out, we'll prob see pared his position before the big move down. A few weeks before the big move down, major problems began to surface. I doubt he didn't see them unless he has beer goggles for BofA. 
To be honest, I think there's a little conspiracy of sorts against BofA by the New York banks. Look back to '08. They crammed, with the aid of the NY FED, ML down BofA's throat against their objections even though everybody knew it was a *#*+ deal.  With the investment banking side getting hit hard for Commercial banks in the coming years by Dodd-Frank, BofA was going to be a huge competitor on the retail side. It seemed apparent to me that he NY banks had it out for BofA and WFC during '08. 

Citi has just as much #!+$ on it's books. GS peddled just as many, if not more, fraudulent MBS to clients.  They want to keep the control and market share centered in NY. 

btw, I picked up 15k worth of F at an average of 2.32 back in '08 and I told myself I wouldn't touch it for at least 25 years. Hurts during times like this. It was bad from $18 down but now! I'm goin boom or bust on F though.

 

 

[oo master chief oo]

Paulson is def getting hammered on BofA

 

[oo master chief oo]

Paulson trimmed some of his bofa holdings

 

[wawaweewa]

Originally Posted by oO Master Chief Oo

Paulson trimmed some of his bofa holdings

He had to have but his GLD holdings is like the god of all hedges.
I have to say I never thought Gold would run this far this quick.  

 

[lazyj10]

Originally Posted by wawaweewa

Originally Posted by LazyJ10

Above - Wouldn't the IMF step in to ensure Italy remains solvent?

Waw x5- Plus depends on how much was done on margin.....who was it getting ripped by BAC? Paulson I think?

F BofA, hope they go to $1.02 per share.

Yeh, Paulson with BAC although I don't think he lost as much as people think. When the filings come out, we'll prob see pared his position before the big move down. A few weeks before the big move down, major problems began to surface. I doubt he didn't see them unless he has beer goggles for BofA. 
To be honest, I think there's a little conspiracy of sorts against BofA by the New York banks. Look back to '08. They crammed, with the aid of the NY FED, ML down BofA's throat against their objections even though everybody knew it was a *#*+ deal.  With the investment banking side getting hit hard for Commercial banks in the coming years by Dodd-Frank, BofA was going to be a huge competitor on the retail side. It seemed apparent to me that he NY banks had it out for BofA and WFC during '08. 

Citi has just as much #!+$ on it's books. GS peddled just as many, if not more, fraudulent MBS to clients.  They want to keep the control and market share centered in NY. 

btw, I picked up 15k worth of F at an average of 2.32 back in '08 and I told myself I wouldn't touch it for at least 25 years. Hurts during times like this. It was bad from $18 down but now! I'm goin boom or bust on F though.

 

Citi is a joke.  Seriously.  They're like that little brother who wants so badly to get involved in bigger brothers activities but doesn't know how to.  Follow the leader type mentality.
I'm pretty sure my condo is one of their write-downs waiting to happen.

It's really, really hard for me to bull on the US producing anything...including U.S. Car manufactures.  I'm willing to wager you touch liquidate it before 25 years

...or the Gov't will for you.

 

[wawaweewa]

Originally Posted by LazyJ10

Originally Posted by wawaweewa

Originally Posted by LazyJ10

Above - Wouldn't the IMF step in to ensure Italy remains solvent?

Waw x5- Plus depends on how much was done on margin.....who was it getting ripped by BAC? Paulson I think?

F BofA, hope they go to $1.02 per share.

Yeh, Paulson with BAC although I don't think he lost as much as people think. When the filings come out, we'll prob see pared his position before the big move down. A few weeks before the big move down, major problems began to surface. I doubt he didn't see them unless he has beer goggles for BofA. 
To be honest, I think there's a little conspiracy of sorts against BofA by the New York banks. Look back to '08. They crammed, with the aid of the NY FED, ML down BofA's throat against their objections even though everybody knew it was a *#*+ deal.  With the investment banking side getting hit hard for Commercial banks in the coming years by Dodd-Frank, BofA was going to be a huge competitor on the retail side. It seemed apparent to me that he NY banks had it out for BofA and WFC during '08. 

Citi has just as much #!+$ on it's books. GS peddled just as many, if not more, fraudulent MBS to clients.  They want to keep the control and market share centered in NY. 

btw, I picked up 15k worth of F at an average of 2.32 back in '08 and I told myself I wouldn't touch it for at least 25 years. Hurts during times like this. It was bad from $18 down but now! I'm goin boom or bust on F though.

 

Citi is a joke.  Seriously.  They're like that little brother who wants so badly to get involved in bigger brothers activities but doesn't know how to.  Follow the leader type mentality.
I'm pretty sure my condo is one of their write-downs waiting to happen.

It's really, really hard for me to bull on the US producing anything...including U.S. Car manufactures.  I'm willing to wager you touch liquidate it before 25 years

...or the Gov't will for you.

US is coming back circa  ~2020/2025. It's all these boomers. They wreaked havoc on this country because things were just too good post ww2.  Once they start to retire and croak, we'll be back at it as a nation. These last few years have really exposed the rest of the world. We suck but there ain't too much better out there either. China's cool but they still have a population and government problem and that's not solvable. Only manageable.  I think Brazil is the dark horse in the world. They have all the ingredients to be a great economic powerhouse. 
F is the real deal. Or so I think.

I saw them make the turn around '06.  Below $5 they were a steal.I'm really going boom or bust with this thing though.  Even at $18 it wasn't really life changing money. I'm looking at the position as an option moreso than equity. 

 

[finnns2003]

Interesting insight. Asian stocks getting hammered right now, ugh.

 

[lazyj10]

I can see why you think that about Brazil, my biggest issue with it is, it's BEEN talked about like that for what, 2-5 years?

Even with them getting the Olympics and World Cup, I'm not seeing/hearing the political and economic process that I would have expected compared to say an Asian country.

In stead I see more and more stories depicting utterly despicable poverty and living conditions in the favelas surrounding multiple soccer stadiums.

 

[lazyj10]

Mr. Paulson's large holdings in Citigroup Inc. and Bank of America Corp. have helped send the billionaire's Advantage Plus fund down 31% this year, through Friday, according to someone briefed on the figures. The fund, which uses borrowed money to try to amplify returns, is down more than 11% in August, through Friday.

Mr. Paulson's Advantage fund is down about 21.5% in 2011 through Friday, the person said.

It isn't clear how both funds have performed this week.

Gold is soaring, however, boosting returns of a hedge fund Mr. Paulson manages that owns gold derivatives and mining stocks. Mr. Paulson's own money largely is in gold, and in gold-denominated share classes offered by his firm. About 35% of the money in Mr. Paulson's firms is in the gold fund or the gold-denominated share classes. Because of that, the returns of these investors likely are much better than those of the Advantage funds.

 

[finnns2003]

Looks like Asian shares rebounded a little but still down. Why in the hell does the $ keep slipping against the yen? That has pissed me off more than anything, seeing that I buy a lot of Japanese products.

 

[lazyj10]

Bump for +460

 

[storm2006]

Originally Posted by LazyJ10

Bump for +460

 

[Betonblck]

I bought the puts today. Ouch. I think of it like an insurance policy in case things get too crazy. We are only down like 200 on the week for the Dow. I'm having second thoughts.

 

[finnns2003]

Originally Posted by LazyJ10

Bump for +460

+530

 

[rexanglorum]

rashi wrote:

---

So when are people going to start listening to Ron Paul?





I doubt many ever will. The failure of stimulus to stimulate will always be seen as proof that the stimulus was not large enough, the regulations not comprehensive enough and that too few public works programs were created or that the Fed's monetary policy was too tight.

That final part might sound ridiculous but some progressives want a negative rate, they want to pay investors to borrow money. They acknowledge that a negative interest rate would discourage investment so this progressive economist proposed that dollar bills be voided based on the final number in their serial number, that number would be determined by a random drawing of numbers zero through nine. The US Treasury and Fed would be doing, explicitly, what they once did implicitly, tearing down the dollars and the savings of most so that the minority of the population, that owns most of the equities (stocks) would be assured that those assets would stay valuable. 

This brilliant Keynesian Economist is Gregory Mankiw of Harvard University and is considered a "moderate" by the press and his peers. When I read that article, I realized that it is time to no longer privilege anything said by a professor on account his or her tenure at some ancient, Eastern institution. These folks, these Keynesian Grandees, usually self described progressives and champions of the poor in Cambridge, MA and New York and Washington must think that every person has a big bag of money and can simply just buy up a million or two in housing or stocks or what which ever assets Washington decided to prop up next.

Also, I have noticed that despite the snarky comments by progressives, reality is showing a distinctly conservative bias on the economy. Massive debt, monetizing the debt, stimulus programs and a weak dollar are failing to produce a recovery and they certainly are not creating jobs. The natural response from left wingers, is that we need to borrow more money, print more money and pay people to dig holes in the ground and fill them in and repeat that process and somehow things would be all between. I would be tempted to say that after digging those holes, perhaps we could throw a few of our political leaders in them and then refill the holes. Sadly, more politicians, looking to funnel more wealth from those produce it to those who do not, would emerge and use the same discredited Keynesian ideas as intellectual cover for what is so clearly a set of failed policies.

 

[lazyj10]

Originally Posted by cguy610

I bought the puts today. Ouch. I think of it like an insurance policy in case things get too crazy. We are only down like 200 on the week for the Dow. I'm having second thoughts.

You're only out your premium though, which should have been lower today because of the Market performing well. In the money or out of the money? Expiration date?

 

[Betonblck]

Originally Posted by LazyJ10

Originally Posted by cguy610

I bought the puts today. Ouch. I think of it like an insurance policy in case things get too crazy. We are only down like 200 on the week for the Dow. I'm having second thoughts.

You're only out your premium though, which should have been lower today because of the Market performing well. In the money or out of the money? Expiration date?

I meant to say calls but they are basically puts on the market because they are calls for the Ultrashort S&P (SDS)
Out of the money September 30's symbol SDS.

I just checked the price and I really didn't lose much on the calls $250, because I bought them at $1.65 each when the Dow was up by near 140 pts.  My total portfolio is actually up on the day.  (I thought these calls were going to be worthless but they are at $1.05)

In the past, I've never hedged during shaky times like this and lost a lot of cash. 

 

[wawaweewa]

Originally Posted by LazyJ10

I can see why you think that about Brazil, my biggest issue with it is, it's BEEN talked about like that for what, 2-5 years?

Even with them getting the Olympics and World Cup, I'm not seeing/hearing the political and economic process that I would have expected compared to say an Asian country.

In stead I see more and more stories depicting utterly despicable poverty and living conditions in the favelas surrounding multiple soccer stadiums.

In the scheme of things a decade isn't much to transform a country. I'd say give Brazil until 2025. They're very similar to the US in a lot ways. Resources, population, geography, politics, etc. Their social safety net is not as developed as the West's but I don't see the favelas as much different than the tenements of NYC or the poverty of Appalachia. 

 

[lazyj10]

Originally Posted by wawaweewa

Originally Posted by LazyJ10

I can see why you think that about Brazil, my biggest issue with it is, it's BEEN talked about like that for what, 2-5 years?

Even with them getting the Olympics and World Cup, I'm not seeing/hearing the political and economic process that I would have expected compared to say an Asian country.

In stead I see more and more stories depicting utterly despicable poverty and living conditions in the favelas surrounding multiple soccer stadiums.

In the scheme of things a decade isn't much to transform a country. I'd say give Brazil until 2025. They're very similar to the US in a lot ways. Resources, population, geography, politics, etc. Their social safety net is not as developed as the West's but I don't see the favelas as much different than the tenements of NYC or the poverty of Appalachia. 

 You and 2025 man.  Don't you know the world is ending in 2012?  On the real, I see what you're saying but at the same point, how long can a country be considered emerging?  Is India still considered that way because they've had the title for what seems like 10-15 years.  I realize it's a process subject to stalls.

 

[seniosoul]

what are you guys using to buy and trade stocks?

 

[lazyj10]

You mean as a broker?

I use Schwab, it's cheap and I don't have as much money as I used to to invest nor do I day trade.

 

[donny walker blaq]

I use scott trade. Im not a day trader so it works for me.

 

[wawaweewa]

Originally Posted by LazyJ10

Originally Posted by wawaweewa

Originally Posted by LazyJ10

I can see why you think that about Brazil, my biggest issue with it is, it's BEEN talked about like that for what, 2-5 years?

Even with them getting the Olympics and World Cup, I'm not seeing/hearing the political and economic process that I would have expected compared to say an Asian country.

In stead I see more and more stories depicting utterly despicable poverty and living conditions in the favelas surrounding multiple soccer stadiums.

In the scheme of things a decade isn't much to transform a country. I'd say give Brazil until 2025. They're very similar to the US in a lot ways. Resources, population, geography, politics, etc. Their social safety net is not as developed as the West's but I don't see the favelas as much different than the tenements of NYC or the poverty of Appalachia. 

 You and 2025 man.  Don't you know the world is ending in 2012?  On the real, I see what you're saying but at the same point, how long can a country be considered emerging?  Is India still considered that way because they've had the title for what seems like 10-15 years.  I realize it's a process subject to stalls.

2020 is a general time frame but things should be sorted by then (for better or worse).

 It'll probably be a few years earlier than that . I hope. 
Take a look at the US. It could be argued that it took the US from 1820 up until the 1920's to emerge as a global economic power. Of course tech is much more advanced now so the process is sped up but changing an entire paradigm within a country takes time. China's been at it since the 70's. 

 

[hankmoody]

Rule 48... run-roh

Should be an interesting day!

 

[lazyj10]

Gold right now is about the only thing doing it for me and my portfolio.

You could literally cop any of the S&P 500 today and make gains in a short time frame since 99% of them were down upon opening. Same with the 30 Dow's