Loading...
Symbols:
Get Seeking Alpha Free Stock Alerts by Email!
Get Free Stock Alerts by Email!
Transcripts
- Alnylam Pharmaceuticals, Inc. Q3 2008 Earnings Call Transcript
- eHealth, Inc. Q3 2008 Earnings Call Transcript
- MIPS Technologies, Inc. F1Q09 (Qtr End 09/30/08) Earnings Call Transcript
- Alexza Pharmaceuticals, Inc. Q3 2008 Earnings Call Transcript
- Alkermes, Inc. F2Q09 (Qtr End 09/30/08) Earnings Call Transcript
- Akorn, Inc. Q3 2008 Earnings Call Transcript
- Energy XXI (Bermuda) Limited F1Q09 (Qtr End 09/30/08) Earnings Call Transcript
- The Advisory Board Company F2Q09 (Qtr End 09/30/08) Earnings Call Transcript
- Thomas Weisel Partners Group, Inc. Q3 2008 Earnings Call Transcript
- The9 Q3 2008 Earnings Call Transcript
-
Editors' Picks
-
Most Popular
- General Electric: Genuine Risk of Collapse?
- Food: Against Self-Sufficiency
- The Fed: Now the World's Largest Private Bank
- Key to the Global Equity Market: Trend and Cycle Analysis of U.S. Retail
- Can a Global Economy Be Managed One Nation at a Time?
- Global Markets Week in Review: Turbulent Times
- Full list of Editors' Picks »
- Jim Rogers on China »
- Memo to Warren: AmEx Preferred at 15%, Warrants at $12 »
- Should We Really Bail Out the Big Three Automakers with $73.20 Per Hour Labor? »
- Peak Oil's Bell Is Ringing »
- UltraShort ETFs: At a Tipping Point? »
- The Biggest Problem Detroit's Big Three Face »
- 11 Stocks Selling Below Cash »
- Tech May Be a Wreck, But This Isn't 2001 »
- The Autos and Mentality That Ruined Detroit »
- Iceland: What It's Like to Live in a World Without Money »
- Wall Street Breakfast: Must-Know News »
Hedge Fund Jobs
Job Seekers: Search jobs by category, get job alerts by email or live feed, apply online See full list of jobs »
Employers: See all recruitment options, get applications online or by email Post a job »
Trading Center
- Free E-Newsletters
- About Seeking Alpha
- About Us
- Contact Us
- What's New
- Readers Feedback
- Advertise With Us
- Contributors
- Contribute an Article
- Feature Your Book
- Our Contributors
- Anonymous Contributions
- Dispute an Article?
- Legal
- Terms of Use
- Privacy
- Copyright
curious cat
128 Comments
Looking for Hope
answer: currently, banks must retain any capital that comes in. investors looking at their balance sheets cannot value the mortgage paper assets they hold. as those assets are constantly being revalued, or marked to market, lower, they are forced to come up with alternate collateral to prove that they are still solvent. as the banks solvency is questioned and their stock price is driven down in the stock market, they lose their ability to borrow money or sell their own stock. so, they are forced to sell those mortgage related assets at fire sale prices. this, in turn, forces all the other banks to again mark to market lower, and the downward spiral continues, until all the banks are broken or until someone with a large balance sheet can buy the assets and hold them to maturity. everyone knows that these mortgages repaid at the 88-90% rate during the great depression. so, their ultimate value is between 88-90%. our tax dollars have a chance to actually make money for a change. treasury can buy them cheap and make interest while they hold them. think before you vote.
Looking for Hope
1)consider that this is not a bailout. the plan is to buy assets that are undervalued.
2) financial institutions that took huge risks did fail and will continue to fail. this plan does not heal those failures.
3) if you think that better run institutions can buy their assets and succeed, then the u.s. treasury should have no problem making a profit. why let large institutions make the easy money? why not let the taxpayer make it?
to kowalski: prayer is about giving thanks for what you get, no matter what you get. start everyday being thankful for every breath you take. the existence of god is not in doubt because he fails to live up to your expectations. the great power is. he has given us free will. that means we control what happens down here. blame people that borrowed without consideration to their ability to repay. blame people that should have exercised discretion in lending. blame everyone but god. he made us in his image, but we have to work for our intellect. god bless you.
Why Friday Came Early
9 Reasons Why We Are Close to, If Not Past, the Bottom
one bitterly cold winter, some horses began running with an improved single shaft sulky, which cut seconds off their times. the crowd did not consider this to be a significant factor in a race, but i did. horses dropping down from canada had been accustomed to facing the cold northern wind. when they joined horses from florida, i gave them the edge. however, when a horse coming from canada wore the single shaft sulky for the first time, i loaded up! (later, when the crowd finally took note of these factors, these changes were factored in and everyone began betting on these game changers.)
in the stock market, a few significant new factors will complement each other to make some stocks overwhelming favorites, in the face of long odds against. when the wind begins to blow cold and the mudders, whose mothers were mudders, are assigned a new post position or the fed changes just a few rules to accomodate them, place your bets and pay your bills.
i still remember being outside on a bitterly cold day, when the number eight horse, romped home ahead of the field, at eight to one, with my hundred on his back and the announcer screaming in disbelief, "here comes... ben loooogan!"
the cash lines are always shorter than the bet lines. so, remember these rules:
1. never bet the milk money.
2. never bet the chalk. if the odds are too short, stay out of the race.
3. "pattern recognition is the hallmark of intelligence."
On Board the 'U.S.S. Titanic'
my parents came from greece in the 1950's, they were both illiterate country people, in their thirties, with no money and four small children. they worked hard, became citizens, had four more children. ours was not an easy existence, but our parents, sick or well, worked hard every day. we absorbed their strong work ethic. most of us went to college and have advanced degrees. i thank god every day that my parents came to america. i'm betting that millions of americans feel the same way i do.
one day, maybe all the world will stop sending their poor, their tired, their hungry, yearning to be free, but until that day, god will continue to bless those people who believe and work hard to make their dreams come true. you cannot scare us. we have known your worst fears.
I'm Speechless: Palin on the Bailout
as for criticism regarding her intelligence, you guys are way off base. this interview is somewhat akin to a blind man feeling an elephant and deciding that it is something quite less massive. governor palin will make a very effective vice president.
republican and independent voters, please do not allow the above biased comments to discourage you. anyone who talks to idiots will sometimes sound idiotic too. have you ever heard a mother talk to a baby? besides, after listening to the idiots who were asking questions of bernanke and paulson, can you honestly say that our congressmen and senators are the mensa pool from which our presidential and vice presidential candidates should be drawn?
i firmly believe we should have a constitutional amendment requiring candidates for any national office to have at least ten years experience running a business, ten years in offices at state or local levels, ten years married/legally partnered, ten years single, ten years as a parent or big brother or big sister, ten years in a row as either a man or woman, eight years of education beyond high school, and proficiency in at least: three languages, one musical instrument and one martial art. it is possible to demand more from our representatives. there is a large pool of untapped talent from which we can draw, but most of them are too smart to wish to be in politics as we know it.
it's not enough to reform wall street, we need to reform politics. demand higher standards for better leadership.
Treasury's Plan Is Breathtakingly Awful
everyone holding gold and precious minerals will recognize that their holdings got more valuable compared to the dollar. everyone in the stock market will realize that the financial system is no longer frozen and will not collapse. since that armagedon event was priced in, our stock markets will go back up and all the 401ks owners can swallow their hearts again when they open their next statements.
arguing that power is being moved from a bunch of idiots to the representative of a bunch of idiots does not impress us or make us want to reconsider the giant bailout. most of us do not think our votes count for anything now. we are always given a choice between two evils, democrats and republicans. both parties sacrifice their main goals to their vocal extremists.
we want to be able to write a check and make things right. that is the american way. if we can put it on the charge card, even better.
if we were playing monopoly, and we are, and the banker said that he would no longer play, no longer make change or pay when we crossed go, unless we doubled the amount of fake money and doubled the price of every property, we would not hesitate. who cares if board walk or park ave cost twice as much? when we land there, we pay rent, anyway. the banker always wins, anyway.
do we care if gates, buffett, mittal or anyone else has kabillions of dollars? no, in fact, the more they collect, the better off we are. with any luck, they will keep those dollars out of circulation and they will not compete with my dollars for goods and services. if they spread out their wealth to every man, woman and child in america, suddenly we would all have more money and have to pay more for a gallon of milk, a dinner out, a haircut or a movie.
to live in a truly fair system, we should cap the income of anyone doing business in america. as soon as anyone gains financial advantage, they become like the banker in monopoly and the end of the game is in sight. until we take that action, everything else we do is just a holding action, delaying the inevitable.
We've Crossed the Line from Capitalism to Socialism
the idea of capping things seems unamerican, but we do recognize that extremism, as in monopolies, can interfere with fairness in free markets. so, let's limit fund sizes.
while we're at it, let's also limit salaries of attorneys, ceos, sports figures, movie stars, etc. the gov't already limits what doctors can make. people who save lives should have the highest salaries. if we think it's fair to limit them, limit everyone. that will reduce corruption, reduce inflation and decrease the disparity between wealth classes.
why do democrats think it is fair to tax the rich more and more? once you let someone become the banker in the game of monopoly, isn't the game over? let's level the playing field. put caps in place. people will still have sufficient motivation to succeed and work hard. in fact, people at the lower end of the spectrum will have improved motivation because they will perceive the system as fairer.
If You Think the Dow Did Well Today, You're Wrong
Buffett Warned Us in 2003
1. owners of shares must be allowed to decide whether their shares can be lent to others.
2. short selling should be allowed for people under six feet in height only.
3. no short selling on margin.
4. brokers who go broke must form a support club.
5. no shorting of stocks under five dollars a share. let the people who actually own the friggin stock keep a few bucks, ok?
Government Intervention? Here's a Scorecard
the grand nagus
Opportunities Buried Beneath the Headlines
Welcome to Nirvana for Nibblers
Dow at 10,000 Could Mean Dollar/Yen at 100
fear not, for i am with you- God
Job Numbers Don't Freak Out Dollar Bulls
you make a great point. americans spend money as if they are rich. they do not grow their own food, that's fine, but can't they make a few meals at home, instead of eating out all the time? maybe even make a loaf of bread themselves, now and then? they want to see movies, but why can't they rent a dvd instead of going to the theater? can't they wash their cars at home? can't they make their own coffee? and, i'm with you on phones.
every doctor i know complains about having to carry a beeper or cell phone, but joe citizen seems to think they need one, please. just how important are you that you cannot wait to get where you're going before you call someone or check your messages? if you are not a doctor or drug dealer, it can probably wait. i have never owned a cell phone and i have not worn a watch in thirty years. what's the point? where can you go that you cannot find out what time it is?
if you are so rushed that your schedule requires pinpoint accuracy, you will receive health benefits by cutting yourself some slack. and, who are these ipod people? try humming a few songs to yourself, my friends. get in touch with your own voice. do they have so much money that they have to keep down loading ring tones? oh, my god!
i have another money saving suggestion for you. remind your spouse and children that you are not made of money and cannot afford to waste any more on frivilous purchases. if you have more shoes than imelda marcos, you better own your own island.
here is what you do need because they support you all day and night: good shoes, good tires, good mattress, but you don't need more than your fair share, ok? wal-mart has all three.
here is what most of you do not need: a manicure, a dye job, a nose job, orthodontia, a boob job, a haircut that costs more than you make in an hour, another purse, another golf club, another computer, another computer game, another car (if yours has less than 150,000 miles on the odometer-and that's being generous cause if you change the oil regularly, a good used car can go almost forever.) just compare the cost of a new car to the amount you must pay to maintain the old one. remember that the new one costs more in insurance and taxes.
half of your car trips are unnecessary too. still have to make a trip or buy something? well, follow a few simple rules. plan ahead and you can combine that trip to the post office and the one to the grocery store and the one to get gas. use your phone book and make a few calls to find out store hours, product availability, price comparison info. then, shop on line and have the nice ups or fed x people deliver it to your door.
ok, i used to work 60-80 hours a week. now, i'm 55 and retired. i stay home, watch cable, surf the net, exercise, water the vegetable garden, read books. i can do that because, even though i lost a ton of money in the stock market, i am very low maintenance. the reason most people cannot retire is their desire to live a high life.
do you really want to travel? join the service or get a job on a cruise ship. do you love new clothes? learn to sew and design your own. have to have a computer? read some books and buy some parts. love tennis? string your own raquets and use the public courts. love golfing? some courses let you use the facilities if you contribute to maintenance or caddie. whatever your love in life might be, there is a less expensive alternative, a more rewarding and complete experience that comes from expending more effort rather than money.