nextpillartofall

1100 Tonnes Now in the GLD Trust

China is & will be the buyer of Gold when GLD has to sell it. China recently suggested that it was uncomfy with all its US treasuries. Next thing we hear is that the FED says they will buy $300billion of US treasuries, you know the quantitative easing scheme announced this week. China will be net seller of US treasuries & a net buyer of gold...a real store of value rather than us treasuries which are at bubble pricing & yields. This is a possible black swan event, that is when china sells US treasuries in earnest & goes for the gold with the proceeds.

Dr. Doom Responds on Wells Fargo

Tom, Tom, Tom...time for 3rd Curve Capital. You have been completely wrong in assessing the banking industry as well as individual banks for the last few years. what a waste of your talent & website. You have led many investors to huge capital losses. You have rebutted every correct assessment of whats going on in the banks. You have lost incredible amounts of capital for investors of your funds & outsiders who followed your advice or stock selection. Your protest against Roubini is not only wrongheaded but stupid too...he's been right you have been wrong. Pointing to some miniscule piece of information that he has either stated incorrectly or been misquoted on is quite trivial & frankly even more stupid. For a point of reference, how did your fund perform in 2008? Any chance you would post your top 10 holdings & YTD performance so readers could see if you are even worth considering listening to?

Slow Down Mr. Roubini

he was way too slow...it happened last night. deny it all you want...CitiGroup is Nationalized already! Live with it.

Eight Reasons Bank of America Is Going to $20

BoA common stock is going to $0.20cts! This entire discussion regarding banks & nationalization is completely stupid. The US banks that have been "forced" or voluntarily(out of desperation) took money from the US Treasury have been NATIONALIZED...deal with it. That money either needs to be paid back, haha, or it will turn into an ownership stake, equity. When that happens...which appears to be more & more likely, the existing common stock shareholders & some preferred shareholders & some subordinated debt holders & any other investors with less than the senior secured debt...will lose some or all of their claim to the company & be removed from the capital structure...thats just how it works. As for the common stocks of these bank holding companies, they have already been diluted mightily and to the extent that some banks have taken new capital, deny it all you want, these entities have been diluted & shareholders have lost some or in many cases all their equity. Some preferreds & some subordinated debt has also suffered. BoA will never trade $20 again...EVER. That is completely ridiculous & the business & financial metrics that would be required for that are not even possible. BoA will continue to be a "great" bank/financial institution, you dont need to run & take your money out of your bank accounts there (governemnt will protect that), but it will be owned by the US government...like it or not.

Warren Buffett's 'Secret' Investment Formula

do berkshires current investments meet the 3 criteria?

2008: Ten Unforgettable Days

need to add... Bank of America rescues CountryWide Financial, Bank of England rescues Northern Rock, Treasury rescues CitiGroup...include one of the dates it injected capital, FED announces various debt facilities to rescue banks, Goldman Sachs & Morgan Stanley rescue (they convert to commercial banks...investment banks no longer exist), $700billion bailout bill fails in congress, Iceland goes bankrupt, exact dates hard to remember....its all a blurr.

Merrill's Muddled Analysis: Another Reason I'm Bullish on Financials

curious what mr. browns YTD performance is. also 2007 performance numbers. then i can determine if his advice is worthy of my attention. pretty sure he was large holder of many financials that are now in trouble.

Merrill's Muddled Analysis: Another Reason I'm Bullish on Financials

Would love to know Mr. Browns YTD return on his fund. As well as his 2007 performance. then I can decide if I want to take his advice seriously or with a grain of salt & a shot of whiskey.