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herbert hoover

herbert hoover
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  • The S&P 500 trades for 14.1x earnings after more than doubling since March 2009 to an almost four-year high, but Bloomberg calculates that valuations are lower than at all 34 peaks since 1989. “Stocks have just gotten too cheap," ING's Paul Zemsky says. After worrying about a Chinese hard landing, a U.S. double dip and a disintegrating Europe, "the worst risks have passed."  [View news story]
    A confirmation that the top is in!

    Still trying to sucker in Mom and Pop Retail. It won't work.
    Mar 5, 2012. 09:18 AM | 1 Like Like |Link to Comment
  • Biotech analyst Adam Feurstein weighs in on the 10.5% premarket run in shares of BioSante Pharmaceuticals (BPAX) tied to the firm's announcement on its GVAX vaccine - calling out that the firm is "hyping" previously released data. [View news story]
    Poor Adam is only allowed to say whatever Icahn tells him to say
    Mar 5, 2012. 09:09 AM | 1 Like Like |Link to Comment
  • June Housing Starts: +14.6% to 629K vs. 575K expected and 549K (revised) last month. Permits +2.5% to 624K vs. 609K (revised) last month.  [View news story]
    Jul 19, 2011. 08:41 AM | Likes Like |Link to Comment
  • Gearing up for its much-anticipated public debut, Groupon adds another 11 underwriters, bringing the total to 14, and adds new info to the risk section of its IPO filing. In particular, investors are told to ignore co-founder Eric Lefkofsky's comment that Groupon will be "wildly profitable." (SEC filing)  [View news story]
    There's still an SEC?
    Jul 15, 2011. 09:15 AM | Likes Like |Link to Comment
  • June nonfarm payrolls: +18K vs. +125K expected, +25K previous (revised from +54K). Unemployment 9.2% vs. 9.1% expected, 9.1% prior.  [View news story]
    Shouldn't there be someone on CNBC telling us to ignore this number?
    Jul 8, 2011. 08:33 AM | 4 Likes Like |Link to Comment
  • The modest rise in the yuan combined with booming labor costs are forcing U.S. firms with Chinese operations to cope by either jacking prices and/or moving production to other Asian nations or cheaper parts of China. Expectations China would consider a major revaluation of its currency don't consider how thin a margin China, Inc. is operating under.  [View news story]
    What makes you think that the Chinese will allow the company to take their plant when they leave?
    Jul 5, 2011. 10:11 AM | Likes Like |Link to Comment
  • JPMorgan (JPM +0.45%) gives up on over 1,000 debt-collection lawsuits it had filed in five states as it tried to recover soured credit-card loans from borrowers. JPM refuses to comment, saying it considers "our collections strategy to be proprietary."  [View news story]
    The Fed bought them instead
    Jun 24, 2011. 07:51 AM | 1 Like Like |Link to Comment
  • House Majority leader Eric Cantor pulls out of budget talks led by VP Biden over a disagreement on taxes that will require the input of President Obama and Speaker Boehner to resolve. "We've reached the point where the dynamic needs to change," says Cantor.  [View news story]
    simple solutions for simple minds
    Jun 23, 2011. 10:46 AM | 9 Likes Like |Link to Comment
  • Initial Jobless Claims: +9K to 429K vs. 413K consensus. Continuing claims -1K to 3,697,000.  [View news story]
    What world do you live in? ("When unemployment runs out go back to work..." There are no jobsto go back to
    Jun 23, 2011. 09:00 AM | 7 Likes Like |Link to Comment
  • Low-fare carrier and trend-setter Spirit Airlines (SAVE), will charge passengers who don't print their own boarding passes $5 more than those who do. The move comes after nearly all its customers said they would prefer a lower fare in exchange for checking in online.  [View news story]
    Do you get a discount if you pilot the plane yourself?
    Jun 22, 2011. 10:12 AM | Likes Like |Link to Comment
  • The departure of Wells Fargo and Bank of America from the reverse-mortgage business because of "unpredictable home values" will leave MetLife (MET) as the giant in the industry. "They must know something I don't," says a consultant, "they're too smart to be heading into an area that's disastrous."  [View news story]
    Besides, if they're wrong, the taxpayers will pick up the tab. Ain't capitalism grand?
    Jun 21, 2011. 08:40 AM | 1 Like Like |Link to Comment
  • "A large part of the Chinese economic miracle has been built on a foundation of ill-considered lending and accounting sleight-of-hand," say the authors of Red Capitalism. The bad loans Beijing is now taking onto its balance sheet are the same ones the government approved in 2008/09 ... so much for brilliant central planners.  [View news story]
    What would happen if we changed the word "Chinese" to "American"?
    Jun 20, 2011. 11:02 AM | Likes Like |Link to Comment
  • The euro bounces as headlines hit the wires that the European rescue fund, the EFSF, will be bumped to €780B from €440B as perhaps officials are taking steps to build a firewall for Spain. Euro buys $1.4266.  [View news story]
    How is doubling your bailout stash considered "good news"? Disn't they just admit that the Euro needs twice as much support as they originally thought?
    Jun 20, 2011. 09:08 AM | 1 Like Like |Link to Comment
  • "Iceland's luck was that it did not qualify for a bailout," says Asgeir Jonsson, describing a country that - contrary to Ireland - refused to put the debt of its banks on the backs of citizens. A quick collapse ensued, but now the country is back borrowing on international markets (at 3%), returned to growth, and with a solid banking system.  [View news story]
    It's the model for Greece, Ireland, Portugal and Spain. I wonder why they can't see it?
    Jun 16, 2011. 09:08 AM | 4 Likes Like |Link to Comment
  • Greek unemployment rises to 15.9% in Q1 vs. 14.2% at the end of last year. A metaphor for a failed economy: the world is set to enter Q3 and the Hellenic Statistical Authority is just now releasing data for Q1.  [View news story]
    And America is following close behind on the delusional impression that crony capitalism is somehow superior to socialism
    Jun 16, 2011. 08:57 AM | 4 Likes Like |Link to Comment