the homeless trader

Barron's Calls a Bottom

There has been quite a bit written over this last weekend about valuations, technical, sentiment, yadda yadda, yadda; I haven't seen anyone mention the one incontrovertible sign of a bottom; "The Warren Buffet Capitulation!"

U.S. Supreme Court Screws Investors, Again

The only persons the supreme court screwed were the class action lawyers! As a former member of the New York sell side, I can tell you that I have been approached by class action attorneys of my acquaintance after virtually every high profile meltdown, all of them wanting to know if I had clients who held positions in the implosion du jour, and would I of course speak to them recommending becoming part of the action. When you know how the game is played, even favorable rulings leave little or nothing for the aggrieved investors after the attorneys are done and of course it is always the shareholders who ultimately pay pay, so who wins? It is interesting to note that the ruling did not and does not erode investor (read lawyer) rights to bring an action, it simply limits how far back in the supply chain they can sue. Charter was improperly stating their results; Motorola and Scientific Atlanta were suppliers to Charter but not parties to their fraud, and both interestingly were found to have booked their revenues properly. End of story.

Bill Gross Wants A PIMCO Bailout

Well done.

NYSE Short Interest Surges 7% To All Time High

When was there ever " tried and true" on Wall Street?