22thoroughbred

An Options Trade on GM's Volatility

Very nice analysis, an approx. 22% net gain for 3 weeks, these are they types of trades I like to put on, very hard to find, thank you

Banks: The Final Countdown?

The pre announcements have nothing to do with the inauguration, options expiration, or Obama making an announcement, the pre-announcement is being done so the companies can answer questions, make comments, and basically put a pretty face on an ugly picture, they cannot do that in a quiet period and to not be able to comment just hurts the share prices as it is interpreted as "something bad" But I do agree that the new Fed / Treasury officials want to start doing something, even if it will not work or will make the problem worse they want to be perceived as jumping in with both feet on day 1...be scared be really scared

JPMorgan Chase: Poisoned by Bear's 5,000 Counterparties

I have no idea what assets or longer term liabilities JPM, BAC, WFC, C have, neither does anyone else, including those institutions, what I do know is that things in the financial world are bad, very bad, both here (USA) and abroad, and if there isn't a fix soon, and a real fix, not just a creditline we will be in much worse shape than anyone realizes or admits. Unfortunately if anyone from treasury or the fed were to state the truth it would start an unraveling of the entire house of cards. I am not a bear or a fear mongerer, but a realist and what I read and see tells me to be very worried.

Citigroup: The End Draws Near

I had worked in the financial services industry for 20 years, the premise that if a bank buys a broker than the bank clients can be "cross sold" investments was just wrong, and if we buy an insurance co. than we can "cross sell" the clients insurance, NOT. The only people who are cross sold are the least knowledgable of the clients and they usually have the least assets, it does not work. When was the last time your broker sold you a CD or your insurance guy sold you a mutual fund, etc etc, in theory, yes in practice, just doesn't work. Citi was the biggest, but BAC, Fleet, Mellon, etc never worked.

History Suggests the Financial Bottom May Be Near

Ken Lewis never saw a takeover he didn't like. He blew the Fleet takeover, got zip for that deal, except to settle lawsuits for insider trading by the Fleet specialists, settle lawsuits for inappropriate sales by the brokers, settle a lawsuit on selling ARPS, terminated everyone in the company, lost brokerage assets, lost some deposits (as is expected) bought Countrywide which he could have gotten free had he waited, and now paid a premium for Merrill which he didn't have to pay, than gives himself a raise and says the deal was too good to pass-up, eventhough every other bank passed them up. He will tur out to be as bad as Dennis Koslowski, minus the illegal stuff, he destroys solid businesses.

Mother of All Short Squeezes?

Not that I am a big fan of his, but didn't the CEO of Overstock.com complain about this ad nauseum and all he got was ridiculed, maybe he was right?