einstein p fleet

Is American Express Still Cheap?

Credit card losses appear to be increasing and the bankruptcy law that was passed may not be of much help given the current situation. Unlike BAC and C, AMEX is strictly a credit card company with no deposit base or other businesses to make up for a tapped out consumer and a prolonged recession. Over the years the brand name that has lost some of it's luster. Would rather own Visa or MasterCard --- if I felt the need to add a credit card card company to my portfolio.

Four Reasons We're Headed Even Higher

It appears that "Buy an Insolvent Company Day" is over and it's back to fundamentals --- which really do stink.

'Too Big to Fail' Has Gotten Much Bigger

I don't get C or BAC, but I own both of them at substantially lower prices. Have already sold portions of both to cover my investment and a small profit, so I can sleep at night.

Have no idea what is too big to fail or what criteria is applied, but the only way to make back the money is to go with the mo. In this case you have to hold your nose and believe in the Tooth Fairy.

Four Reasons We're Headed Even Higher

The AIG move is so odd, that even the NY Times noticed it. When the government owns and is the only source of funding for the banking industry, the car industry, and who knows how many pension plans, it seems to me that driving the share price of AIG, Fannie, Freddie, and others up is another way to re- inflate government (I mean taxpayer) owned assets.

In regard to Doug Kass, I would not bet against the man begin right. He is very smart and should be taken seriously.


On Aug 28 08:08 AM enigmaman wrote:
You seem to make fun of Doug Kass a bear who correctly called the bottom, a genius but now a clown because he is calling the top.

Four Reasons We're Headed Even Higher

AIG was up 10 points because? Was yesterday, buy an insolvent company day?

The Looming McMansion Attack

I sold my loft in NYC and moved to Miami. Have been renting for 4 years, waiting for the market to face reality. Prices have come down, but not nearly to levels that are in line with income and job opportunities. It's the ostrich syndrome ---- and it's going to get a lot worse before it gets better. Not even close to a bottom in residential and commercial is the next shoe to drop. Of course, that could all change when Florida succeeds and becomes part of the Seminole nation again.


On Jul 02 03:52 PM 3 degrees of seperation wrote:

> I have my eye on a just such a house in a prime area of Florida.
> Problem is that asking prices have not come down at all yet, in fact
> the sellers are still asking a premium over what they paid in 2007.
> I am ready with a cash offer when prices get discounted by 35% off
> of the peak, but don't know if we will ever get there in this area
> of Florida. It is frustrating to continually hear how much prices
> have come down, yet it is not happening where I want to buy. I should
> note that nothing is selling at the current asking prices, but that
> doesn't appear to be influencing sellers to do an discounting. Many
> of the homes in this development are unfurnished and never lived
> in, so I know speculators bought a good number of these homes.

Is Goldman Tempting the Interest Rate Black Swan with 1,056% Risk Exposure?

The new hundred dollar bill is going to have a picture of Alfred E. Newman with the motto, "What, me worry?"

How Ken Lewis Has Failed the Test of Good Leadership

The latest installment of the government attempt to bail out the financial system is PIC. (We do love our acronyms) which is going to be unveiled tonight on 60 Minutes. (They were going to unveil the program on Leno, but they wanted someone to actually take them seriously). Supposedly, under the new acronym, the US government will buy up and guarantee all toxic assets, which effectively will bankrupt the country but put the banks on solid footing.


On Mar 22 02:09 PM waf76 wrote:

This is unaudited of course and doesnt change the fact they still have tons of toxic assets on the balance sheet which are probably overstated even with FASB 157.

How Ken Lewis Has Failed the Test of Good Leadership

Was Ken Lewis also forced to buy Countrywide or did he think it was a good acquisition at the time? Seems to me, he made the same mistake twice. If, on the other hand, the US government is now running the show and Lewis is merely a patriotic puppet of the new world order, at least we will be able to mail a letter and make a deposit at the same place.

The Andrew Jackson Portfolio - Nine Stocks for $20

GE is a good investment. The rest are pure spec plays at this point. You might at well buy two shares and GE and put the rest in Lotto tickets.

Cramer's Stop Trading! What Do Cramer and Rush Limbaugh Have in Common? (1/29/09)

Both men are self-appointed experts with a lot of people listening. Both can be very amusing ---- unless you actually take them seriously.

Derivatives Alert: Explosive Risk Is Still Unrecognized

Ever since the Bear saving/liquidation wiped out the shareholders, the pundits have called a bottom to the financial services industry no less than five times ---- and have been wrong each and every time. More brokerages and banks have collapsed since them, the bail out seems destined to either nationalize the banks or fail, and I'm not hearing the pundits call for a bottom. In the meantime, the banks refuse to lend or spend --- other than 20B dollars in bonus money for a job well done with borrowed taxpayer money. The banks also saw fit to thank the taxpayer by lowering their credit limits on credit cards and raising their interest rates to levels only a loan shark could get away with. Where is our government? They are spending a little extra time to make sure the rest of our money is spent to actually rescue the taxpayer which, given the track record to date and the fact that the cast of players hasn't changed, isn't a confidence builder.

The one week delay to "get it right" isn't going to matter. If they want to jump start the economy they would divvy the TARP money up amongst the taxpayers that got burned in the form of coupons that have to be spent. If we're going to go down, we might as well have a good time doing it. Who wants a new 52" TV with surround sound?"

Nationalizing Bank Losses

" Pictures of Geithner and a barnyard animal???"

Now what did that poor barnyard animal do to deserve that remark --- unless he's running BAC.