Alan von Altendorf

A Summary of Q1 Bank Earnings: World, You Just Got Hustled

On May 11 03:45 PM aarc wrote:
> Meanwhile, those contrarian traders who bought AIG at 33 cents are
> now up almost 500% on their trades.
> Who is the greater fool getting hustled down here at these extremely
> depressed prices? The trend traders or the contrarian traders?

Great day traders always make money. Some of us can't use stops, have to pay brokers, have money locked up in pension funds, can't trade after hours, can't stand much risk, etc. So, the question is fundamentals. Are we going down or up? Did the banks get a clean bill of health from the Fed stress test, or was it a pack of lies? Is AIG a going concern? What about General Motors?

Comment above by 'inflation' tells a big story: if you are a trader, you don't care whether it is a bull or a bear market. The retail chumps who save and invest are there to be driven like sheep and fleeced by the pros.

A Summary of Q1 Bank Earnings: World, You Just Got Hustled

On May 10 11:55 PM Kem Parton wrote:
>We escaped death before because the computer revolution increased productivity to an astonishing degree

Er, no. Gain from Third Wave was trivial (bar codes and back office automation) if you back out the cost of replacing hardware every two years and software licences. The enormous 'productivity gain' was offshoring -- exporting US jobs and whole factories to Mexico and China.

A Summary of Q1 Bank Earnings: World, You Just Got Hustled

On May 10 07:07 PM Matt Miller wrote:
> You're a brilliant young man! ... thanks for sharing your knowledge.

Horsefeathers. He probably has a kid that age, just like 'Tyler Durden.' We're finally getting the straight story from very angry insiders. Probably ex-Lehman.