JustATaxPayer

Wall Street Breakfast: Must-Know News

What about Cramer's statement today regarding AIG needing 10X the auto companies to back the European banks?

The politicians in DC piled on the auto execs for having the gull to ask for funds. But AIG, 180 Billion and there’s not even a (public) discussion?

What gives? Oh yes, the government; IF you’re the right industry.

Some Housing Schadenfreude

We read the signs of the US housing market nearly 5 years ago and sold our house in Ventura County Californai; hottest market in the US, at its peak. (People thought we were crazy for selling).

We had no idea how far down the market would go.

We came back to Northern Michigan (Traverse City area) and just bought an upscale forclosed house for 1/4 the price we sold our "average" (1800 sqr ft) California house. I doubt the market will ever come back to the levels it was, and I honestly hope it never does.

A house should be a home, not an investment.

A lot of people were hurt in the US housing market, a few of us made out ok (but we had to sell when everyone thought we were crazy).

DryShips Deserves More Love

I got rid of DRYS once I found out institutions were shorting the stock. Now I know why, the CEO is a nutcase.

He may be crazy like a fox, but there's been a lot of EGOcentric CEO's who were born on 3rd base and thought they hit a home run. I think this guy could sink DRYS even if they earned %1300 more than the last year. Just wait until he encounters a real challenge.

There are better stocks out there lead by stable, level-headed professional managers. DRYS doesn’t seem to be one of them.

DRYS is not an investment, it’s a speculation that the guy in charge isn’t going to do something irrational (like gouge profits to his own consulting company).