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Jake Berzon  

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  • How Is This Recession Different? [View article]
    Was the Great Depression different from other recessions? Most people would answer "yes" to this question. I believe that the current recession will prove to be different in the same sense that the Great Depression did.

    We have already seen some ominous signs of the difference, like the electronic run on the Money Market funds in September, forcing the US government to insure them.
    Feb 11, 2009. 09:30 PM | 6 Likes Like |Link to Comment
  • Ritholtz vs. McGraw Hill: The War of Words [View article]
    After screwing every investor that relied on their ratings they would prefer a more gentle reaming themselves? What a Bushism!
    Feb 11, 2009. 11:34 AM | 4 Likes Like |Link to Comment
  • Boeing's Bad Balance Sheet May Doom It [View article]
    Oh, who cares about fundamentals. Surely, US government will rescue BA when its time comes - they are a major government contractor, a huge employer and our nation's pride and joy! :)
    Feb 11, 2009. 11:26 AM | 4 Likes Like |Link to Comment
  • Bond Expert: Wednesday Outlook [View article]
    Our dependence on China is truly scary, both as a treasuries debt holder and supplier of manufactured goods. But, who cares when we can just print new money to buy those goods and by any of our debt that Chinese don't want, right?!

    Well, not quite... We already saw the unfolding of the largest Ponzi scheme in history - Madoff's and that as scary enough. To see the 200 x larger legalized version of the Ponzi run by the Government unfold would be truly horrific.
    Feb 11, 2009. 11:23 AM | 3 Likes Like |Link to Comment
  • TARP Accountability: Bankers Say 'What, Me Sorry?' [View article]
    A nice and colorful obfuscation cloud - I love it!
    Feb 11, 2009. 11:08 AM | 5 Likes Like |Link to Comment
  • Bill Ackman's Hedge Fund Losses Are Staggering [View article]
    I wouldn't have expected such a stupid idea and poor timing for a fund from Ackman - wow! On the other hand, at least he told his investors exactly what he was going to do before they committed any money and then acted "above and beyond" when it didn't work out. Much more than what can be said about the other stooges!
    Feb 11, 2009. 10:27 AM | 4 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Some of those earnings results are much better than my worst fears. Hope is alive! :)
    Feb 11, 2009. 10:09 AM | 5 Likes Like |Link to Comment
  • Why SPY Could Be 20%-30% Higher by 2010 [View article]
    I could give you equally valid reasons for S&P 500 going up or down. Chances are it will go down further, before recovering. However, I would not want to attempt to guess the exact level of S&P 500 two years from now - there are simply too many variables.

    > Federal Reserve will act to withdraw liquidity from the economy. It won’t
    > let the economy shoot off into galloping inflation

    If they know how to do that, why did their efforts fail in the 70s?
    Feb 11, 2009. 10:03 AM | 6 Likes Like |Link to Comment
  • Will Government Spending Work? [View article]
    The debate on what to do and whether it will "work" is more philosophical and political than it is economic. The Government has a duty to prevent its monetary Ponzi scheme from collapsing and can hopefully continue to do so. Anything it does beyond that may cause more harm than good.

    I am glad that Geithner and company are taking it slow and setting expectations low - better to be prepared than disappointed.
    Feb 11, 2009. 09:54 AM | 4 Likes Like |Link to Comment
  • Indian Markets Wednesday Wrap-Up: Dow's Poor Showing Barely a Factor [View article]
    Arcelor-Mittal results, as bad as they were, were not so bad as to warrant MT stock price current trading range - it will be interesting to track it a bit closer.
    Feb 11, 2009. 09:45 AM | 3 Likes Like |Link to Comment
  • Goodwill Hunting: Beware Potential Asset Impairment Charges [View article]
    I was surprised to see some of the big names on the list that I had previously purged from my portfolio over different concerns.
    Feb 11, 2009. 09:34 AM | 3 Likes Like |Link to Comment
  • Preview from Europe: Geithner Fails to Deliver [View article]
    News like this on JNJ would normally propel its stock to instantaneous new highs. Yet, that doesn't appear to be in the cards in the current economic situation. Before one can ejaculate, he has to get it up and that's difficult to do when you are depressed at least without popping Pfizer's Viagra first. So, Why is Pfizer also making new lows?
    Feb 11, 2009. 09:25 AM | 4 Likes Like |Link to Comment
  • Starbucks Lacks Direction and Soul [View article]
    I has direction and soul alright, but also some overpriced coffee - great fad during the boom cycle, not so good in a recession and terrible disaster during a depression, unless of course they can reposition themselves as a cheap luxury. It will be a minor miracle if they can do this with a product that competes head on with standard soup kitchen fare...
    Feb 10, 2009. 01:40 PM | 4 Likes Like |Link to Comment
  • Geithner's Vague Plan [View article]
    The market's reaction today shows that market players are still full of hope and get disappointed when they don't see miracles.

    > No one KNOWS what will get us out of this mess.

    The point is that nothing they could possibly do now (short of time travel) will get us out of this mess in a reasonably painless way. I wouldn't want to be Obama or Geithner - they will get blamed, but it isn't even their fault!
    Feb 10, 2009. 01:30 PM | 7 Likes Like |Link to Comment
  • Mapping Obama's Now-Failed Transport Policy [View article]
    A well developed public transportation system is important. Also important is renewable energy research. We should be smart invest and create jobs in these areas.

    The whole concept of taxing CO2 emissions is absurd - it is a regressive tax based on a highly contested theory. It is an even worse idea to tax CO2 without providing a feasible alternative - an incredibly bad public policy.
    Feb 10, 2009. 12:09 PM | 8 Likes Like |Link to Comment