Richard Shinnick

Ambac's Earnings: You Can't Make This Stuff Up

Shouldn't this crash the market...oh wait, we moved to other stories. Remember when this was the "most important" market story, well now it is on the 13th page just behind the war in Iraq. Meaningless old news, who cares, or so it seems. Sometimes it appears that the MSM picks a story and the world revolves around it until the MSM picks another story for the world to revolve around... what will it be this week? The market went up\down this week because....fill in the blank.

Friday's Turnaround: Raid on the Shorts

Covering on a 200 point rally is just shamefull. Can't these shorts show a little conviction. Come on, stop trading and start shorting for the long run. The market doesn't go down in a straght line! Just buy a basket of double inverse ETF's and stop worrying. Rebalance once a year or twice at the most. Trying to time the market is a fools game. Nothing to see here, move along.

The Monolines Need $200 Billion? No Way

Tom, question for you. Whether the number is silly or not, if it is $1 more than they will actually need, they fail. So, if they will actually need $15 billion and can only raise $10 billion, they fail, right? So, dumb question, what difference does the number mean for the monolines? They may be toast anyway. It really is only relevant for the counter-parties, right?