Graham and Dodd Investor

The Oil Casino: SEC Heading for Monte Carlo, Part I

The more models, the less common sense.

Hitting Secured Creditors

This violates the rule of law. A contract is a contract and ought to be enforced.

Now Mr. Salmon does make an important point that depositors could be hurt, etc. As far as I'm concerned, depositors (like accounts payable) have an "informal" right to be senior to long term debt holders. In this case, let's make the law more explicit to this effect to protect them.

And yes, we should be getting judges more involved in the process. A lot of proceedings would be shortened if the judges were to employ the old fashioned "cram down" by priority. Judges could also be useful in modifying "bad" mortgages.

Quick Chat #20 11/19/09

Walmart and China deserve each other.


On Nov 20 11:50 AM Freya wrote:

> Whats Up: IPI, Insider Sales were automatic sells.
>
> CGA and CAGC.
>
> Walmart is going to be very Big in China, Not because of cheapness
> of products but because of General Safety of same, more Chinese Consumer
> Internal spending.

Quick Chat #20 11/19/09

Pittsburgh? That's where I come from. The land of "gum bands."


On Nov 20 11:04 AM Mayascribe wrote:

> A Pittsburghese expression. This is for you "JAGoffs!"
>
> phx.corporate-ir.net/p...;p=irol-newsArticle_pr...

Oprah Winfrey announces an end to her syndicated talk show in 2011, a blow to the syndicated market, to distributor CBS (CBS -3.2%) - and to local TV stations, already struggling with an advertising downturn. Winfrey will focus on the cable channel she's launching with Discovery Communications (DISCA).

The end of the Oprah Winfrey talk show. The end of an era.

Unemployment was up in 29 states in October, with California, Delaware, South Carolina and Florida reaching record levels. Fourteen states are in double digits, and Michigan still leads the nation with 15.1%, followed by Nevada at 13% and Rhode Island at 12.9%.

Rising unemployment in half the American states (29 vs. 25).

U.S. Share of World GDP Remains Remarkably Constant

Of the six major powers of World War II, three have since declined in relative importance; Britain, Germany and Russia; two have risen (China and Japan); and the U.S. has remained "flat" (more or less).

Asia at the expense of Europe.

How to Slow Down Foreclosures

The "conciliation conference" may be the first time that the lender and homeowner get "face to face." Which is a large part of the problem.

Much better to know about the other party's faults before the marriage, rather than before the divorce.

Middle Class Bankruptcies on the Rise

Savings is necessary because "asset appreciation" takes place as the RESULT of savings. It's a double whammy.

The decade long decline of savings is behind the LACK of asset appreciation in the past decade.

How does Morgan Stanley (MS) CEO John Mack feel now that his office is prowled by regulators questioning everything the firm does? "I love it," he said to a Vanity Fair/Bloomberg conference. "We cannot control ourselves," he said of bankers and their ability to manage risk.

A rare admission by a CEO: he wants the regulators to do his job for him.

GE's Immelt Turns Dem

GE did not regain its 1929 high until 1961, some 32 years later (versus 25 years for the market). We're looking for it to regain its 2000 high of 61 sometime around 2030.


On Nov 19 11:14 AM ex GE'er wrote:

> Somehow you forgot to mention that GE is off its high of $61. Given
> that, moving from $6 to $16 doesn't seem all that great, does it?
> Thanks to I-Melt, we'll all be living off social security in retirement,
> so I guess we'll have to turn democratic.

Another Super Bank is Underwater

Investments in the gambling industry are themselves a gamble.

Scariest Financial Site On The Web: Part 3

"I can calculate the motions of heavenly bodies but not the madness of men." Isaac Newton on the South Sea Bubble.


> Have you read about the new radio telescopes NASA and other space
> agencies are building? They state that when up and running the "radios"
> will be able to measure the universe within 850 million years, ie.,
> will be able to obtain information right up to the edge of the known
> universe.
>
> Probably find some US dollars floating out there, too.

Banks thirsty for more capital: Hundreds of U.S. banks will likely raise capital in coming months to deal with losses from bad consumer loans, CRE and other assets, and to build war chests to buy failing rivals. The only question is, when will the window of opportunity slam shut?

Of course banks are "thirsty" for more capital. They wasted it all in the past decade or so. Which is to say that banks will be a drag on the U.S. economy for some time to come.

China may pour $700M into expansion of Costa Rican refiner Recope's plant, tripling the facility's capacity to 60,000 barrels a day, and will explore building a separate 300,000-barrel/day plant there. The move would deepen growing energy ties and help build long-term supply lines between China and Latin America.

Yes. "Today the nation, tomorrow the world."


On Nov 18 03:34 PM MarketGuy wrote:

> Just another step toward world monopoly.