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Alex Cook  

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  • Financial Reform Bill: A Crisis Wasted [View article]
    "Mr. Cook. You must be an incorrigible optimist if you think there is a chance that this bill could streamline bureaucracy."

    Hahaha well I'm young and naive I suppose. Well said.
    Jul 19, 2010. 09:12 PM | Likes Like |Link to Comment
  • The Endgame for Goldman Sachs [View article]
    Not so sure how much GS really opposes the Dodd bill. These kinds of bills can have plenty of consequences that the government didn't assume would happen; it could be possible that GS wants the Dodd bill to pass as it would squeeze GS's competitors, whereas GS already has the loopholes mapped out. I'm not sure if this is the case, just food for thought
    Apr 16, 2010. 10:27 PM | 7 Likes Like |Link to Comment
  • Goldman Sachs, John Paulson, And 'The Fabulous Fab' [View article]
    Lol, wouldn't that be funny if their prop desk shorted their own stock in anticipation of the announcement? Or would that qualify as insider trading?
    Apr 16, 2010. 10:23 PM | 4 Likes Like |Link to Comment
  • The Endgame for Goldman Sachs [View article]
    Partially agree, partially disagree. A nice, juicy, big-name case will be good for the SEC to promote the careers of the agents conducting the investigation, and to try to redeem themselves after epically dropping the ball with Bernie Madoff. Also, it is much easier as you said to point blame at Goldman than self-reflection on the Federal Reserve, credit ratings agencies, and mortgage brokers.

    That said, I wouldn't necessarily say that it's completely malicious, and it probably just has more to do with the government's lack of understanding of economics.
    Apr 16, 2010. 09:10 PM | 4 Likes Like |Link to Comment
  • Goldman Sachs, John Paulson, And 'The Fabulous Fab' [View article]
    "A FutureOfCapitalism.com reader writes in response to today's annnouncement of SEC charges against Goldman Sachs to suggest that Goldman is a useful scapegoat for the financial crisis. It's easier for the Obama administration to blame Goldman in part because it's harder to blame the Federal Reserve"

    DING DING DING we have a winner! Look, I want a full investigation of this, but what I REALLY want is a full investigation of Lehman's accounting practices, and I want some serious reflection on the Federal Reserve, the credit ratings agencies, and the mortgage brokers--who all created the crisis in the first place, not Goldman. I wrote a post about this here: www.frontieroutlook.co...

    At the end of the day, caveat emptor. Just because your broker says something and the credit ratings agencies agree doesn't mean that you stop doing your due diligence. A lot of these CDOs were issued on 144A private placements. Once you sign that form that says you're a sophisticated investor who understands the risk/reward...how much of a victim are you really?
    Apr 16, 2010. 06:33 PM | 3 Likes Like |Link to Comment
  • The Endgame for Goldman Sachs [View article]
    Look, I want a full investigation of this, but let's be serious. If anyone, I want to see Lehman get investigated further for their accounting practices.

    The CDOs that Goldman was selling were under 144A private placements. Yes, there apparently was conflict of interest that wasn't stated, but that said, caveat emptor. Just because your broker and the credit ratings agencies say something isn't a good enough reason for you not to do your due diligence. Now if Goldman was being charged with insider trading, frontrunning, or something like that, THEN this would be huge, but really anyone can be found to have some kind of conflict of interest if you probe deep enough.

    I'm not trying to apologize for Goldman or defend them and I do want a full investigation, but I'd say that there are MUCH bigger fish in the water that need scrutiny. I wrote a post about this here: www.frontieroutlook.co...
    Apr 16, 2010. 06:22 PM | 8 Likes Like |Link to Comment
  • Goldman's Reputation in Tatters [View article]
    Frankly, I disagree. I am not defending or apologizing for Goldman and I do want to see a full investigation, but let's be serious. Anyone can get busted for failure to disclose a conflict of interest if you look hard enough. It's like police leaning on someone for jaywalking. This is NOT an epic scandal like insider trading, frontrunning, or market manipulation; it's serious, but it's not huge.

    These products were sold under 144A private placements, and the buyers signed off that they were sophisticated investors who understood the risk/reward.

    What I really want to see is how the Lehman investigation plays out with their accounting practices. Goldman has been a political whipping boy, and I'm sure there are some at the SEC who would like a juicy big-name case to promote their careers (and maybe get a book deal out of it later), but is this really a huge scandal, or is it more the SEC trying to "make an example" out of the easiest target and trying to redeem themselves for failing to bust Madoff? I wrote a blog post on this here: www.frontieroutlook.co...
    Apr 16, 2010. 06:00 PM | Likes Like |Link to Comment
  • Why the iPad Falls Short [View article]
    I'll just leave this here: cnnmoneytalkback.blogs.../
    Apr 8, 2010. 03:28 AM | Likes Like |Link to Comment
  • Why the iPad Will Flop [View article]
    My opinion would be a lot different if it was half the price. It isn't an oversized smartphone. It's an oversized iPod Touch.
    Apr 8, 2010. 02:09 AM | 2 Likes Like |Link to Comment
  • Why the iPad Will Flop [View article]
    That may be so, but it isn't relevant to the iPad.
    Apr 8, 2010. 02:08 AM | 3 Likes Like |Link to Comment
  • Placing Bets on Today's Treasury Auction [View article]
    Alright everyone, the auction today went decent, and the 30-Year is tomorrow. Give me a while to do some analysis on today's auction, since if it turned out that all the big buying came from the Fed, then that is NOT a good auction after all in the long run. This will take a while to break down...
    Apr 7, 2010. 02:39 PM | 4 Likes Like |Link to Comment
  • The Ultimate Truth on Preventing Market Abuse – It Can’t be Done [View instapost]
    Well said. Until we figure out a way to cure general human stupidity, we still have the risk of market manipulation to face. Combating it is a noble goal, but investors need to be prudent nonetheless.
    Apr 7, 2010. 03:07 AM | Likes Like |Link to Comment
  • Placing Bets on Today's Treasury Auction [View article]
    Absolutely. In my humble opinion, the government does not fully appreciate the magnitude of the risks that they are incurring by operating at the current levels of debt and deficits. It's even more profound if you pile on agency debt and unfunded liabilities from state pension funds that are only solvent thanks to federal backing.
    Apr 7, 2010. 03:04 AM | 5 Likes Like |Link to Comment
  • Why I'm Adding Back to My iShares Barclays 20+ Treasury Bond Short [View article]
    I've been thinking the same thing. A more aggressive way than TBT is the fund TMV, which is 3-times levered instead of 2-times. Big day on Wednesday with the 10-year auction, and Thursday with the 30-year.
    Apr 6, 2010. 12:41 AM | 1 Like Like |Link to Comment
  • Why the iPad Falls Short [View article]
    If it had USB, 3G came standard, and was $300 cheaper, my opinion on this would be completely different.
    Apr 5, 2010. 07:39 PM | 1 Like Like |Link to Comment
COMMENTS STATS
72 Comments
123 Likes