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Money McBags is the preeminent financial humorist and money maker in the world. While known for his ability to find and invest in undervalued equities, Mr. McBags is also a world class dick joke teller, an aficionado of lovely ladies, and avid reader of books without pictures in them. With... More
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When Genius Prevailed
  • 4/29/10 Midday Report: HP thinks it bought a rosy PALM, no word on whether they will also buy her five sisters 0 comments
    Apr 29, 2010 2:22 PM | about stocks: KITD, CTG, BIDU, GOOG, V, FSLR, PALM, HPQ

    The rally is back on thanks to solid earnings, Greece likely getting bailed out again (for now), and the FED reaffirming their promise to keep rates low until the next bubble.  Not only that, but new claims for unemployment were down by 11k which was just shy of analyst guesses and just shy of asking Kristen Bell out on a date.  In financial news, Republicans voted to finally allow debate on financial reform because somehow the good of the country became more important than the search for birth certificates, reigning in wide stances, and understanding what about tea bagging is so appealing to Sarah Palin.  Money McBags hopes there will be real reform like you know, requiring reserves to be held on insurance contracts more commonly known as CDS, limiting the size of financial institutions, and closing down the ratings agencies whose business models incent them to do the opposite of give unbiased ratings and who sucked at their jobs like a blind skeet shooter or a fluff girl on the set of a Sabrina Johnson record breaking film.  While there is no doubt Wall Street will eventually find the loopholes in any regulation because greed is a dish best served with caviar, Dom Perignon, and peach cobbler (the first definition of course) and that shit ain't cheap, at least the government can make it a bit harder.  Money McBags is all for the Volcker rule, for hedge fund regulation, and for derivatives regulation even if the last one may cause Warren Buffett like a millisecond of a sleepless night on his mattress made of gold and the tears of baby bald eagles.  The SEC's new found ballsac is refreshing and Money McBags hopes they are serious about regulating the markets and watching porn instead of just watching porn (unless it is first time lesbian porn, and then Money McBags understands).

    Internationally, Greek is getting some drachma again as the IMF promised to raise their bailout funds from 45B euros to 120B over 3 years.  However, as part of the stipulation for getting funding, Greece is going to have to put in place stricter austerity plans and better track and report their finances by allowing the IMF to inspect their "cash boxes" once a year on the island of Lesbos.  Greek Prime Minister George Papandreou was said to have started negotiating with labor unions to cut two of their fourteen monthly salaries, to institute higher value added taxes, and to require they work longer than three hour work weeks.  The real question is whether German Chancellor Angela Merkel stops being a sour kraut and agrees to help with the bailout or if she continues to waffle in hopes of maintaining support in Germany to propel her party to victory in the upcoming North Rhine-Westphalia election.  That's right, Merkel is letting Greece, Europe, and the global markets dangle in the wind because of some do shit election in a country that isn't going to even exist should Europe go bankrupt.  Angela, be a good girl and come listen to Money McBags.  I know it is fiscally irresponsible to continue with the steroidal Wimpy strategy of getting a hamburger today and paying for ten of them on Tuesday, I know you want to stay in power (though Germans fighting for power scares the gifelte fish out of Money McBags), but sometimes you have to do stupid stuff for the greater fucking good.  Yeah, Greece acted less fiscally responsible than Stephen Baldwin or a homeless crack addict on pay day, but as the great Zeno Cosini once said "complete freedom consists of being able to do what you like, provided you also do something you like less."  So fucking lend Greece the damn money already and enjoy the freedom to have a European economy.  Now go get me a Kreppel but go light on the powdered sugar because Money McBags hates getting that shit on his fingers.

    In stock news earnings were so jizztastic that the market is now expecting octuplets.  But before we even get to earnings..READ ALOT MORE...ANALYSIS OF CTGX AND KITD....

    Disclosure: Long CTGX, Long KITD, no other positions
    Stocks: KITD, CTG, BIDU, GOOG, V, FSLR, PALM, HPQ
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