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Illusional Delusion

Illusional Delusion
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  • How low was volume today? Zero Hedge has charts: SPY volume at an '09 low, and NYSE volume below 100-day and 200-day moving averages.  [View news story]
    is it price weighted? as the price increase i would think less people would trade it, or become less willing to buy it...still good work from TD
    Aug 10, 2009. 11:36 PM | Likes Like |Link to Comment
  • The president's chief of staff famously says never to waste a crisis. Roger Ehrenberg says that's exactly what happened as Wall Street's weakness - super-leveraged capital structure and reliance on overnight lending - was exposed. "Where we are left today, dear taxpayer, is a lot poorer. Unless you are a major shareholder and/or bonusable employee of Goldman Sachs."  [View news story]
    it should be only the bonusable GS employees. any shareholder other than Buffett is only paying towards the bonuses.
    Aug 3, 2009. 08:03 PM | Likes Like |Link to Comment
  • S&P trading above 1,000 for the first time since November, +1.3% to 1,000.26.  [View news story]
    Time to buy dollars if you think the economy can keep going like this.
    Aug 3, 2009. 10:49 AM | Likes Like |Link to Comment
  • Lawyers take pro bono cases, and doctors treat the uninsured in medical emergencies, giving up profit to do so. So Joe Nocera wonders: What is banking's moral obligation to the country that fished it out of the abyss?  [View news story]
    I'd mostly agree, but I think it is more that bankers ignored their moral and contractual (legal) obligation to manage people's money properly than sheer abuse of OPM.

    On Aug 01 05:35 PM D_Virginia wrote:

    > Lawyers and doctors have knowledge and skills that can
    Aug 1, 2009. 11:33 PM | 1 Like Like |Link to Comment
  • Weekend reading recommended via Pragmatic Capitalist and Zero Hedge: Boeckh Investment Letter's "The Great Reflation Experiment" (.pdf), which contends that a long-term inflationary approach has the U.S. consigned to a roller-coaster ride of bubbly cycles: Saying the crisis was a "black swan" event "is grossly misleading, as it implies that the crash was so far beyond the realm of normal probabilities that it was unreasonable to expect anyone to have foreseen it."  [View news story]
    IMO, asset bubbles are natural. Whatever form of money, there will be a tendency to hoard assets since it replaces the value of production and easier to hoard than actual production. It is harder to predict the peak, but not the formation.

    On Aug 01 12:13 PM bricki wrote:

    > While I agree with the premise that an inflationary bias leads to
    Aug 1, 2009. 02:06 PM | Likes Like |Link to Comment
  • Banks in Oklahoma, Florida, Ohio and New Jersey fail, at an estimated total cost to the FDIC Deposit Insurance Fund of $215.7M, making for a total of 68 failures in 2009.  [View news story]
    69 for 7 months, roughly 120 per year, but noting that it picked up most of its pace now, it might be 150+ for 2009 by 2010. Either way, 69 by today is still a very bad reflection of the state of affairs.
    Jul 31, 2009. 09:02 PM | Likes Like |Link to Comment
  • Charting Y/Y GDP numbers minus the stimulus: Just a question of how steep a cliff you want to go down.  [View news story]
    What seems funny to me is that all the problems is bad debt and the ones with them are the "strong" banks...

    On Jul 31 08:02 PM Vox Rationalis wrote:

    > This is fairly moronic. Might as well take out the financials when
    > looking at the S&P 500. Last year wasn't so bad after all!
    Jul 31, 2009. 08:47 PM | 1 Like Like |Link to Comment
  • Bernanke to Congress: About 25 firms are systemically significant. Oh, by the way, "virtually all" are organized as bank holding companies, which means the Fed already happens to be their supervisor and lender of last resort.  [View news story]
    If they are willing to apply that restriction, which will hurt profits in some ways...

    On Jul 24 03:01 PM CautiousInvestor wrote:

    > As all of us on SA I've read so much about this my head is about
    Jul 24, 2009. 04:07 PM | Likes Like |Link to Comment
  • More from Goldman Sachs (GS): The firm says that with the $318M in dividends it paid on its $10B TARP investment (and the $1.1B it paid to redeem warrants), U.S. taxpayers have gotten a return of 23%.  [View news story]
    Well, if I remember correctly, the amount they got from the CDS was like 10b, so the return is 10+% only. For completely backstopping them, anything <30% is cheap.
    Jul 22, 2009. 02:27 PM | 1 Like Like |Link to Comment
  • It's not just you: Yes, every firm seems like it's beating expectations.  [View news story]
    or have access to the printer...
    Jul 21, 2009. 10:17 PM | Likes Like |Link to Comment
  • Karl Denninger rips The Washington Post's defense of Goldman Sachs (GS): "I know nobody that objects to making a profit. I know a lot of people who object to theft."  [View news story]
    I beg to differ. They should instead have a progressive tax bucket for bonuses separately. Regular people do get bonuses for real work too...

    On Jul 20 03:24 PM frosty wrote:

    > Congress should pass a law taxing bank bonuses 100% for the
    Jul 20, 2009. 03:30 PM | 1 Like Like |Link to Comment
  • Karl Denninger rips The Washington Post's defense of Goldman Sachs (GS): "I know nobody that objects to making a profit. I know a lot of people who object to theft."  [View news story]
    Go Karl!
    Jul 20, 2009. 03:03 PM | Likes Like |Link to Comment
  • A report from the TARP special inspector general - leaked to media outlets but not yet released to public - says U.S. bailouts and backstop plans total $23.7T. The number is part of SIG Neil Barofsky's planned remarks before a House committee on Tuesday. Of the $700B slated for TARP, $441B has been distributed.  [View news story]
    If you remove the people taking the money, it probably will figure around 100k per person outside the bailed out candidates

    On Jul 20 02:09 PM DonH wrote:

    > By my figuring, that's roughly 75,000 for every man, woman, and
    Jul 20, 2009. 02:13 PM | 4 Likes Like |Link to Comment
  • BREAKING: CIT Group (CIT) cuts deal with key bondholders for $3B in financing, will avoid bankruptcy and restructure outside court. (WSJ)  [View news story]
    They are the only one with direct access to the printers

    On Jul 19 06:19 PM Market Sniper wrote:

    > No idea. ROFL
    Jul 19, 2009. 07:05 PM | 2 Likes Like |Link to Comment
  • Market internals show higher volume on the buying spurts, hinting that the bulls might be back.  [View news story]
    Year based or Month based? I see only a down trend based on months and quite flat year based from last year, not to mention that last year people is probably a panic year...
    Jul 17, 2009. 03:14 PM | Likes Like |Link to Comment
COMMENTS STATS
346 Comments
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