glassbox's Comments RSS Syndication from SeekingAlpha.com http://seekingalpha.comuser/222604/comments http://seekingalpha.com/news/market_currents/post/36305?source=feed#comment-755431 755431 Wed, 11 Nov 2009 11:32:42 -0500 http://seekingalpha.com/news/market_currents/post/31671?source=feed#comment-656522 656522
Agree that SA should not be allowing such unsubstantiated rumours.]]> Tue, 01 Sep 2009 12:07:24 -0400
Agree that SA should not be allowing such unsubstantiated rumours.]]> http://seekingalpha.com/news/market_currents/post/31395?source=feed#comment-649002 649002
I think that the lack of insider buying could be symptomatic of perhaps a disillusionment with stock prices reflecting the state of the company. As it has been shown, stock prices has been moving largely on changes in systemic risk and insiders have realised that buying their own stock does not create any additional alpha for their own portfolios.

I for one, for personal diversification feel that if I am already employed by the company or receive substantial compensation from the company - one should not buy more of their own stock, rather, I would look to perhaps 'diversify' to buying an unrelated stock.

As such, I rather not try to read too much into this to get a sense of the state of the company - I believe other indicators are better gauges.]]> Thu, 27 Aug 2009 11:38:08 -0400
I think that the lack of insider buying could be symptomatic of perhaps a disillusionment with stock prices reflecting the state of the company. As it has been shown, stock prices has been moving largely on changes in systemic risk and insiders have realised that buying their own stock does not create any additional alpha for their own portfolios.

I for one, for personal diversification feel that if I am already employed by the company or receive substantial compensation from the company - one should not buy more of their own stock, rather, I would look to perhaps 'diversify' to buying an unrelated stock.

As such, I rather not try to read too much into this to get a sense of the state of the company - I believe other indicators are better gauges.]]> http://seekingalpha.com/article/155249-when-companies-short-their-own-securities?source=feed#comment-624510 624510 Tue, 11 Aug 2009 07:58:08 -0400 http://seekingalpha.com/article/127659-marc-faber-it-will-all-end-in-disaster?source=feed#comment-440587 440587 Thu, 26 Mar 2009 03:58:17 -0400 http://seekingalpha.com/article/125729-mark-to-market-a-rule-that-begs-to-be-broken?source=feed#comment-423981 423981
There is going to be a lot misallocation of resources as a result - the capital allocation is spoilt. I'm not saying it caused the current problems but its certainly no better (or in fact worse) that its predecessor - historical convention. At least, the latter has existed for centuries....]]> Fri, 13 Mar 2009 00:28:15 -0400
There is going to be a lot misallocation of resources as a result - the capital allocation is spoilt. I'm not saying it caused the current problems but its certainly no better (or in fact worse) that its predecessor - historical convention. At least, the latter has existed for centuries....]]> http://seekingalpha.com/article/125287-five-economic-misconceptions?source=feed#comment-421820 421820 Wed, 11 Mar 2009 11:20:06 -0400 http://seekingalpha.com/article/124086-the-world-s-50-safest-banks-in-2009?source=feed#comment-412470 412470 Wed, 04 Mar 2009 09:24:47 -0500 http://seekingalpha.com/article/124086-the-world-s-50-safest-banks-in-2009?source=feed#comment-412467 412467 Wed, 04 Mar 2009 09:23:35 -0500 http://seekingalpha.com/article/122300-investment-landscape-s-fabric-is-fraying?source=feed#comment-401404 401404
At this rate, its no wonder equities have been seeing the 'tail wagging the dog' phenomena - values are being established by a small group of players to the detriment of the larger group that chooses to stick by an investment.]]> Tue, 24 Feb 2009 10:45:34 -0500
At this rate, its no wonder equities have been seeing the 'tail wagging the dog' phenomena - values are being established by a small group of players to the detriment of the larger group that chooses to stick by an investment.]]> http://seekingalpha.com/article/119293-a-solution-for-the-bad-asset-pricing-problem?source=feed#comment-380817 380817
In my opinion, short selling in the current environment is highly lucrative - only because it cost so little to borrow and there is no need for one with a short position to disclose his position (with the excuse that it would make it unprofitable for hedge fund managers and the likes to do their research - what an excuse!). In times like these, capital should be deployed constructively, not destructively.

The US government should not allow the same hedge fund managers who made tonnes of money so called 'cleverly' shorting stocks and buying CDS that created this huge imbalance and putting jobs and stability at risk to be allowed to buy anything at the distressed prices they want.

I firmly believe money should only be made, and cleanly made by creating value, real value that comes in hard work, belief and faith and resilence...not by exploiting a market abberation or inefficiency that these 'intelligent' people know that by doing so, will result in a depression like scenario.



On Feb 09 07:21 AM Tom Armistead wrote:

> This is a bad proposal.
>
> For over a year, those who expect to profit from the destruction
> of the US economy have spread news of doom and gloom, shorted finaincial
> stocks into oblivion, spread rumors and manipulated CDS spreads.
> Meanwhile they have withheld their capital from constructive uses,
> in the expectation of gorging on the proceeds of fire sales.
>
> I am at a loss to understand why the US Government should spend taxpayer
> money to line the pockets of these vultures by agreeing to fund their
> feast.
>
> Better to deprive them of their prey by creating a fair price for
> these assets, many of which are worth far more than what the market
> will pay. I am a small time investor and I can't see why the hedge
> funds should be funded to buy AAA debt at distressed prices. It's
> not supposed to work that way.
>
>
> ]]> Mon, 09 Feb 2009 09:29:25 -0500
In my opinion, short selling in the current environment is highly lucrative - only because it cost so little to borrow and there is no need for one with a short position to disclose his position (with the excuse that it would make it unprofitable for hedge fund managers and the likes to do their research - what an excuse!). In times like these, capital should be deployed constructively, not destructively.

The US government should not allow the same hedge fund managers who made tonnes of money so called 'cleverly' shorting stocks and buying CDS that created this huge imbalance and putting jobs and stability at risk to be allowed to buy anything at the distressed prices they want.

I firmly believe money should only be made, and cleanly made by creating value, real value that comes in hard work, belief and faith and resilence...not by exploiting a market abberation or inefficiency that these 'intelligent' people know that by doing so, will result in a depression like scenario.



On Feb 09 07:21 AM Tom Armistead wrote:

> This is a bad proposal.
>
> For over a year, those who expect to profit from the destruction
> of the US economy have spread news of doom and gloom, shorted finaincial
> stocks into oblivion, spread rumors and manipulated CDS spreads.
> Meanwhile they have withheld their capital from constructive uses,
> in the expectation of gorging on the proceeds of fire sales.
>
> I am at a loss to understand why the US Government should spend taxpayer
> money to line the pockets of these vultures by agreeing to fund their
> feast.
>
> Better to deprive them of their prey by creating a fair price for
> these assets, many of which are worth far more than what the market
> will pay. I am a small time investor and I can't see why the hedge
> funds should be funded to buy AAA debt at distressed prices. It's
> not supposed to work that way.
>
>
> ]]> http://seekingalpha.com/article/107364-citigroup-the-end-draws-near?source=feed#comment-312262 312262 Sat, 22 Nov 2008 00:29:30 -0500 http://seekingalpha.com/article/105238-no-bank-s-books-are-trusted-bloomberg-s-weil-is-imagining-things?source=feed#comment-302766 302766 Tue, 11 Nov 2008 07:03:27 -0500 http://seekingalpha.com/article/100602-two-world-views-buffett-vs-lahde?source=feed#comment-285565 285565 Sun, 19 Oct 2008 09:25:49 -0400 http://seekingalpha.com/article/99367-amity-shlaes-paulson-plan-bring-on-accounting-deja-vu?source=feed#comment-279599 279599
Casino thinking should be restricted to the casino and not get into people's 401Ks and pension.]]> Sat, 11 Oct 2008 00:22:31 -0400
Casino thinking should be restricted to the casino and not get into people's 401Ks and pension.]]> http://seekingalpha.com/article/99027-the-60-trillion-nightmare-of-credit-default-swaps?source=feed#comment-277400 277400
Meanwhile, I don't understand why they have done anything shut it down up till now?]]> Wed, 08 Oct 2008 21:56:12 -0400
Meanwhile, I don't understand why they have done anything shut it down up till now?]]> http://seekingalpha.com/article/99009-news-flash-to-bofa-s-lewis-demand-isn-t-problem-supply-is?source=feed#comment-277397 277397
As for all of the rest who are here on this board spouting cynisim about Tom's analysis - let me have this to say: its precisely this cynism and high horse (I know better and you should have known better) attitude that has brought Wall Street to its knees. Prosperity is brought about by great men and women who are prepared to counter the current flavour of the day and look upwards and ahead - not backwards and down.

Tom, I'm an optimist by nature and do hope that things will recover. I'm sure it will, its just we will have to go thru a lot of pain before it happens. Its about time to just take the pain (instead of keep talking about it) and move on.,...]]> Wed, 08 Oct 2008 21:52:39 -0400
As for all of the rest who are here on this board spouting cynisim about Tom's analysis - let me have this to say: its precisely this cynism and high horse (I know better and you should have known better) attitude that has brought Wall Street to its knees. Prosperity is brought about by great men and women who are prepared to counter the current flavour of the day and look upwards and ahead - not backwards and down.

Tom, I'm an optimist by nature and do hope that things will recover. I'm sure it will, its just we will have to go thru a lot of pain before it happens. Its about time to just take the pain (instead of keep talking about it) and move on.,...]]> http://seekingalpha.com/article/98677-will-tarp-cover-both-ambac-and-mbia?source=feed#comment-276335 276335
I did check up their debentures before. They are very very illiquid and very hard to get at. The float is small to - I believe its not even US$300MM in total isze. In fact, I was looking for bonds of bond insurers to buy earlier this year as I was concerned about dilution risk. And this led me to realise that the bond insurers are not funded by borrowings but rather by equity - quite a difference from all the bond and preferred offerings we have seen issued by the other financials.


On Oct 07 09:36 AM Fulldeck wrote:

> Tom-
> If you're that bullish, i.e. ABK to $15, why wouldn't you rather
> buy their 100-year debentures- AKF and AKT? That are now selling
> at $5-ish, yielding in the 30% range, have a call value of $25, and
> would be senior to the common in a (brrr..) bankruptcy! They have
> the same 5-bagger potential, more safety, and pay 30% while you're
> waiting!]]> Tue, 07 Oct 2008 20:04:41 -0400
I did check up their debentures before. They are very very illiquid and very hard to get at. The float is small to - I believe its not even US$300MM in total isze. In fact, I was looking for bonds of bond insurers to buy earlier this year as I was concerned about dilution risk. And this led me to realise that the bond insurers are not funded by borrowings but rather by equity - quite a difference from all the bond and preferred offerings we have seen issued by the other financials.


On Oct 07 09:36 AM Fulldeck wrote:

> Tom-
> If you're that bullish, i.e. ABK to $15, why wouldn't you rather
> buy their 100-year debentures- AKF and AKT? That are now selling
> at $5-ish, yielding in the 30% range, have a call value of $25, and
> would be senior to the common in a (brrr..) bankruptcy! They have
> the same 5-bagger potential, more safety, and pay 30% while you're
> waiting!]]> http://seekingalpha.com/article/98060-does-warren-buffett-think-goldman-is-more-creditworthy-than-ge?source=feed#comment-270714 270714 Wed, 01 Oct 2008 15:27:29 -0400 http://seekingalpha.com/article/97950-no-shorts-outperforming?source=feed#comment-270189 270189
And by the way, the no shorting rule only applies to new short position established. Given that this rule was only announced when short interest in the market is at the peak, its really silly to even make any conclusion out of this. I will make a conclusion if the rule also applies to all who shorted before it- then, it will be fair to say what the rule has achieved.
]]> Wed, 01 Oct 2008 02:17:22 -0400
And by the way, the no shorting rule only applies to new short position established. Given that this rule was only announced when short interest in the market is at the peak, its really silly to even make any conclusion out of this. I will make a conclusion if the rule also applies to all who shorted before it- then, it will be fair to say what the rule has achieved.
]]> http://seekingalpha.com/article/97332-fbi-investigates-victims-of-the-financial-fallout?source=feed#comment-265799 265799
]]> Fri, 26 Sep 2008 09:32:25 -0400
]]> http://seekingalpha.com/article/97332-fbi-investigates-victims-of-the-financial-fallout?source=feed#comment-264509 264509 Thu, 25 Sep 2008 07:24:14 -0400 http://seekingalpha.com/article/97006-paulson-bernanke-700-billion-at-hold-to-maturity-pricing?source=feed#comment-263020 263020
I lived through the Asian crisis - right in the middle of it. Whilst small in size vs the current crisis, I am amazed at how lacking a leadership and urgency the American people and Congress has showed in dealing in this whole affair. I watched the hearing last night and it came across that most were more interested in putting blame rather than finding a solution. There is still a lot of self denial going on and intention to fix a blame rather than find a solution.

On just looking on the various articles and comments from SA's forums, it seems like most Americans have lost hope and have turned very cynical. Yes, perhaps its right and natural to turn cynical on misdeeds of the past but with such attitude, how do you expect your regulators and leaders to act in the country's best interest. In fact, I see that many commentators likes to continue to paint a doom and gloom scenario - yes, perhaps its time America went down the drain and perhaps its constituents deserve it - not for the lack of ideas to deal with the current crisis - but for the lack of hope and respect in herself and ability to deal with it in the future and this insatiable need to keep looking back and pinning blame.

At this rate, the US will definitely be in the Great Depression - in fact, with the attitudes I see displayed here at SA, its already here.
]]> Tue, 23 Sep 2008 20:42:50 -0400
I lived through the Asian crisis - right in the middle of it. Whilst small in size vs the current crisis, I am amazed at how lacking a leadership and urgency the American people and Congress has showed in dealing in this whole affair. I watched the hearing last night and it came across that most were more interested in putting blame rather than finding a solution. There is still a lot of self denial going on and intention to fix a blame rather than find a solution.

On just looking on the various articles and comments from SA's forums, it seems like most Americans have lost hope and have turned very cynical. Yes, perhaps its right and natural to turn cynical on misdeeds of the past but with such attitude, how do you expect your regulators and leaders to act in the country's best interest. In fact, I see that many commentators likes to continue to paint a doom and gloom scenario - yes, perhaps its time America went down the drain and perhaps its constituents deserve it - not for the lack of ideas to deal with the current crisis - but for the lack of hope and respect in herself and ability to deal with it in the future and this insatiable need to keep looking back and pinning blame.

At this rate, the US will definitely be in the Great Depression - in fact, with the attitudes I see displayed here at SA, its already here.
]]> http://seekingalpha.com/article/96926-the-family-foresight-thought-experiment?source=feed#comment-262563 262563 Tue, 23 Sep 2008 12:13:39 -0400 http://seekingalpha.com/article/96926-the-family-foresight-thought-experiment?source=feed#comment-262487 262487 Tue, 23 Sep 2008 11:05:25 -0400 http://seekingalpha.com/article/96926-the-family-foresight-thought-experiment?source=feed#comment-262484 262484
I would ask the sentinel from the future to take my US$1BN to the future and leave it with a fund manager there that can give a return of at least 30% a year. I would assume she doesn't need to use her US$5BN immediately. Of course, if she thinks its not enough - then, too bad...she'll have to find the other US$4BN herself. But US$1BN should hopefully be a good start.

Better the US$1BN in cash in the future than the devil of a financial sector today. With the current understanding of how our Wall Street smarties and regulators have screwed up the whole financial system - the $1BN today may be worth nothing 500 years later if its locked up in a bank. ]]> Tue, 23 Sep 2008 11:03:15 -0400
I would ask the sentinel from the future to take my US$1BN to the future and leave it with a fund manager there that can give a return of at least 30% a year. I would assume she doesn't need to use her US$5BN immediately. Of course, if she thinks its not enough - then, too bad...she'll have to find the other US$4BN herself. But US$1BN should hopefully be a good start.

Better the US$1BN in cash in the future than the devil of a financial sector today. With the current understanding of how our Wall Street smarties and regulators have screwed up the whole financial system - the $1BN today may be worth nothing 500 years later if its locked up in a bank. ]]> http://seekingalpha.com/article/96799-bank-of-america-paulson-plan-benefits-mostly-goldman-morgan?source=feed#comment-262159 262159 Tue, 23 Sep 2008 02:49:12 -0400 http://seekingalpha.com/article/96773-ambac-mbia-moody-s-strikes-again?source=feed#comment-262117 262117 Tue, 23 Sep 2008 00:15:38 -0400 http://seekingalpha.com/article/96773-ambac-mbia-moody-s-strikes-again?source=feed#comment-262049 262049
I wished SEC would have disclosure rules that require disclosure of stocks lent by longs and disclosure of shorts and where they borrowed their scrips from. This woudl minimise any opportunities to create stinking trades.]]> Mon, 22 Sep 2008 21:57:09 -0400
I wished SEC would have disclosure rules that require disclosure of stocks lent by longs and disclosure of shorts and where they borrowed their scrips from. This woudl minimise any opportunities to create stinking trades.]]> http://seekingalpha.com/article/96719-short-selling-myths-and-facts?source=feed#comment-261479 261479
A decent article for starters but you completely left out the other side - what makes a long want to lend their shares? And what does it take a long to keep lending their shares. The perspective from the longs is more fundamentally important as short selling is a derivative - shorts have no rights, their 'rights' are derived and premised on longs' willingness to lend the shares.

It'll be good to understand the dynamics involved in getting scrips to short.]]> Mon, 22 Sep 2008 11:27:24 -0400
A decent article for starters but you completely left out the other side - what makes a long want to lend their shares? And what does it take a long to keep lending their shares. The perspective from the longs is more fundamentally important as short selling is a derivative - shorts have no rights, their 'rights' are derived and premised on longs' willingness to lend the shares.

It'll be good to understand the dynamics involved in getting scrips to short.]]>