EMS's Comments

The Tiger Woods Dubai - a residential golfing community that is part of Dubai Properties Group - has at least two problems these days, but says it's committed to completing its Woods-designed course at Al Ruwaya. (previously: I, II)

Tue, 15 Dec 2009 20:43:00 -0500

Will be a nice place for a bachelor party, for sure.

WSJ reports a widening net aiming at insider trading on Wall Street now incorporates a close look at one of the largest, most successful hedge funds: Steven Cohen's SAC Capital Advisors. A cooperating witness will talk about transactions at a hedge fund he worked at for years, reportedly SAC.

Sat, 07 Nov 2009 09:38:18 -0500

Oh goodie- liquidation Monday coming !

The Greatest Depression Is Coming

Sat, 17 Oct 2009 17:54:54 -0400

Not cheap enough, yet...

On Oct 17 09:39 AM jay brebner wrote:

> the richest 10% drives consumption not the middle class. the middle
> class buys what it needs but the upper class buys what it wants.
> I believe it is something like 50% of consumption. while they have
> taken a hit as well there are a lot of toys/assets to buy now at
> lower prices and if they were smart they'd be buying it all up starting
> now.

The Economic Recovery That Isn't

Sun, 04 Oct 2009 17:17:58 -0400

"Left to its own, the economy would have spun into a deflationary depression (with untold misery for large sections of the population)::

This may happen ultimately anyway. Guess who is going to benefit then ???? GS et al.., instead of those who kept themselves clean, forsaw the disaster and should have had a once in lifetime benefit/ deserved windfall last year.

On Oct 04 04:55 PM bob adamson wrote:

> Mr. Schiff is wrong in his assessment of what could have been achieved
> during the past year, about what has been achieved during that period
> and what needs to be done over the next few years. The task for the
> past year was to prevent an unprecedented world wide banking, financial
> and general economic collapse and set the stage for remedial action
> in further stages over the next years; not merely end a mild downturn
> in an essentially healthy economy through some fiscal and monetary
> tweaking or by letting market forces do the job unaided. Left to
> its own, the economy would have spun into a deflationary depression
> (with untold misery for large sections of the population) forestalling
> any short to mid term productive options for either government or
> private sector action. The task now is to stay the stimulus course
> until the private sector is again able to carry its share of the
> load. The longer term task is to prevent a false recovery that simply
> returns the state of affairs to that which pertained in 2005 or thereabouts.
> Rebuilding the public sector and industrial sectors of North America
> and Western Europe and encouraging thrift and increased savings patterns
> at these later stages will be important to the development of economic
> soundness but only if we don’t jump the gun with this before the
> recovery is truly underway.

Frustrated by criticism over his healthcare initiative, President Obama is considering proposing his own legislation. The Obama bill would include a trigger for the much-debated public option, having it kick in after 3-5 years if private insurers weren't living up to their obligations.

Sun, 06 Sep 2009 08:26:45 -0400

Most doctors are not rich, but they deserve to be. They have worked much harder than lawyers, MBA's, and even professional athletes to accumulate the knowlege and skill to succeed. Most of the 'banksters' have accumulated far more assets than the average doctor and have provided very little of value to society. Next time you or a family member are sick, and are cured by Dr. you will realize what that their pay is well deserved, and what a nonsense comment that you have made.

On Sep 06 03:25 AM Michael Clark wrote:

> Health-care costs are a bubble we have to burst. If Obama can do
> this, then good for him. If the National Health-Care Program just
> supports insurance companies at outrageous profits, as is now the
> case, then it will fail. Pop the bubble in health costs first. Then
> we need a national health-care system that will take the burden off
> of businesses, which is clearly a step in the right direction. We
> are the only advanced society in the world without national health-care.
> Why? Some vanity that we are the only society in the world 'doing
> it right'. 60% of American bankruptcies come from medical emergencies
> that are not paid for by existing insurance. Doctors get rich; drug
> companies get rich; insurance companies get rich. Everyone else suffers.
> We are wrong on health-insurance. We pay too much; we don't get much
> back. Health-care costs (benefits) helped to force American businesses
> to relocate operations overseas. We lost jobs so that our health-care
> industry could become bloated with cash. Opponents of health-care
> equate national health-care with the dread-word 'socialism' (socialism
> for AIG, Goldman Sachs and Chrysler is apparently ok), Atheism (the
> implication is that God wants people to die of lack of medical coverage
> while insurance executives get rich), and the 'loss of freedom' to
> choose their own doctor, etc. Please. Real 'loss of freedom' is going
> bankrupt over medical costs, and having a wife or child or mother
> die because of lack of money to pay for decent medical care. I hope
> Obama takes the lead on this, and succeeds. It's shameful how we
> treat poor people in this country in terms of medical needs. Health-care
> is a national right if we decide that it should be. It's no different
> in this way than 'freedom of speech'.

No Slowdown for the Case-Shiller Home Price Declines

Tue, 31 Mar 2009 20:48:28 -0400

Yet, the markets were "Rallying" most of the day. Financials notably. Retail investors had better be ready for what is to come.

The U.S. government and the Fed have spent, lent or committed $12.8T to rescue and stimulus attempts, so far. That's 14x the $900-odd billion in circulation; almost equal to the entire 2008 U.S. GDP; and works out to $42,105 for every man, woman and child in America.

Tue, 31 Mar 2009 20:43:38 -0400

But their money is not truly lost. It comes to others....ka ching...

On Mar 31 08:33 PM MajorG wrote:

> There's a few people here that are going to lose their clients a
> lot of money.

How Bailouts Are Messing with Capitalism

Sun, 29 Mar 2009 19:38:08 -0400

Although completely disgusted, we should embrace this shit. Buy lots of GS, C, BOA and the like and laugh along-side with the criminals... this must be what the Govme't has in mind with their manipulating.

Are the Big Banks Gaming the Taxpayer?

Sat, 28 Mar 2009 11:48:29 -0400

This is so crazy, I'm getting more disgusted by the day.

Thursday Outlook: Commodities, Global Markets

Thu, 26 Mar 2009 07:45:01 -0400

Yes Doc.

On Mar 26 07:18 AM Dr. O wrote:

> Given the TRILLIONS of dollars in spending here in the US, combined
> with lessor amounts in China, Europe, etc., one wonders if just a
> bit of that money has been allocated to buy index futures to prop
> up asset prices.
>
> If you were a member of "the boyz" club, and had close political
> contacts, would you know that the Government had your back going
> long now, just as you could have known the Government was prepared
> not to intervene in stock market free fall last year?
>
> Is knowledge of what the Government wants or is indifferent to in
> the financial markets (currency, stock, bond, etc.) the way the same
> well-connected players make fortunes year after year?

Wednesday Outlook: Commodities, Global Markets

Wed, 25 Mar 2009 08:09:28 -0400

Must be nice to be GS, all the while knowing they would be bailed out, could trade on that sweet, "inside" track. Bet that was pretty profitable. Someone should investigate...

I'm Skeptical About This Rally

Mon, 23 Mar 2009 21:49:12 -0400

ABSOLUTELY correct.

On Mar 23 06:54 PM youngman442002 wrote:

> I too am not buying into to it long term...its strictly a day trade.....so
> the Banks are AOK now..except Sheila Blair said some are not...BUT
> of course she would not say which ones..so much for the new transparency...its
> the bankers(seekingalpha.com/symbo...) making the American
> public feel like all is good....so they can get onto baseball or
> something while they fleece the rest of the TARP monies away....GS
> will be a big buy of these so called "Bad Assets"..and yes the government
> will cover 95% of them...so GS will squeeze out a 40% profit them
> dump them back to the US to cover....and down we go again....but
> hey its only Monday and only another trillion...probably 3 more by
> Friday....

After today's 12%-or-so rally in bank stocks it may be time to unload, BofA analyst Richard Bernstein says. Soaking up toxic assets only delays the eventuality of consolidation, he says, and the government won't be able to prop-up sickly assets forever.

Mon, 23 Mar 2009 21:26:03 -0400

He would know. Do yourselves a favor; consider heeding the advice people.

The Geithner Plan FAQ

Sun, 22 Mar 2009 11:54:58 -0400

Let's hope it works. Otherwise we are in for really, really big TROUBLE.

Could the government let AIG (AIG) fail? Hard to say for sure without the facts, Baseline Scenario's James Kwak says. "The government by now has had six months to study the books of AIG and its major domestic counterparties. People are no longer willing to take it on faith that the future of the free world depends on an implicit blanket guarantee for AIG. At least we want to see some evidence."

Sun, 22 Mar 2009 10:21:36 -0400

P.S. I'll bet I'm not the only one who is irritaed by the fact that GS has had this inside track for the past year, and has been able to essentially "insider-trade" the market on this info. They should have been able to game the market thusly with short-term options and even on their on stock futures for billions, or else they are idiots.

Could the government let AIG (AIG) fail? Hard to say for sure without the facts, Baseline Scenario's James Kwak says. "The government by now has had six months to study the books of AIG and its major domestic counterparties. People are no longer willing to take it on faith that the future of the free world depends on an implicit blanket guarantee for AIG. At least we want to see some evidence."

Sun, 22 Mar 2009 10:18:13 -0400

Exactly. The mission (GS) has been accomplished. So I'll that the bet- that they will be allowed to fail soon. I'm sure we will get a couple of thumbs-down feedback here from the sluts at GS ! Never fails...

Tuesday Outlook: Commodities, Emerging Markets

Tue, 10 Mar 2009 08:57:36 -0400

Don't know Weill personally but I wholeheartedly agree w/ you. Incidentally, he has donated a ton of the cash to institutions used solely by the wealthy.....a screw the poor kind of guy. Keep up the good work Dave.

Productivity Should Rise as Unemployment Rises: It Isn't

Thu, 05 Mar 2009 19:56:25 -0500

Yes, productivity should rise with the level of unemployment. Unfortunately, most people in our society want to sit around and play solitaire, read blogs and surf the web. I am skeptical that there is anyone physically able who can/ will rebuild our roads and bridges and make use of the stimulus plan $.. Laid-off construction workers you say ?? Well let me tell you, those guys can't wait to work for the gov'ment and forgo 6-packs on the job submit to random pee-tests and the like........

CDS and the Looting of AIG

Wed, 04 Mar 2009 20:55:19 -0500

GS took the money...GS took the money...

Beige Book Report Is - Surprise! - Awful

Wed, 04 Mar 2009 20:50:53 -0500

Head back to where you derive from...

On Mar 04 08:09 PM Lin wrote:

> Re
>
> Today I read where Shiela Bair , the new FDIC chief said " the FDIC
> does not have enough funds to fund the upcoming bank closures " My
> sister heard today from her CEO That " the banks will be nationalized
> , close on Friday , reopen on Monday as anational bank" 80 % of the
> lost jobs aren't coming back . Also read today " where Jimmy Carters
> head financial person said today " there will be riots in the US
> as a result of these layoffs .." The FEMA black shiny helicopters
> are flying much more frequently now .

Dr. Doom Responds on Wells Fargo

Tue, 03 Mar 2009 21:03:00 -0500

Tom,
You are a punk.

The Cost of Living in Manhattan

Mon, 02 Mar 2009 20:41:15 -0500

So then, what are your investment ideas ?

The AIG Scandal

Mon, 02 Mar 2009 19:40:20 -0500

This AIG thing is much worse than WCOM, and heads rolled on that one...

Dr. Doom Responds on Wells Fargo

Mon, 02 Mar 2009 18:22:18 -0500

Tommy,
I know of a car wash that is hiring.

A Good Time to Buy Apple

Mon, 02 Mar 2009 16:43:01 -0500

I think AAPL is great; products and management are world beaters. But you cannot escape the fact that few will be buying any products this year or next, unless they are absolutely necessary. This means that people will defer replacement of PC, Phone and laptops. People reach a point where they do not need any more itunes, and the ipods are pretty durable. You guys should search for value elsewhere, and back up the truck on it at 50 $. It will get there, I am telling you.

Dr. Doom Responds on Wells Fargo

Mon, 02 Mar 2009 16:23:10 -0500

Tom,
You are a great, big loser.

Dr. Doom Responds on Wells Fargo

Sun, 01 Mar 2009 20:56:38 -0500

I agree w/ you. Warren has truly lost his marbles.

On Mar 01 07:27 PM Ransome wrote:

> Wells is up to something. They are getting all funked out about credit
> scores and mortgage loans. Buffet addressed this in his letter. Credit
> scores don't count, it is the quality of the borrower and the sensibility
> of the loan amount, down payment and cash flow. Perhaps Wells needs
> a bigger hammer to hoist over the heads of the revolving credit card
> loans at 30%. The great mystery to me is how a person making minute
> payments on $10,000 at 30% is considered a great credit risk.
>
> I thought Warren's play at being a derivatives trader was a little
> weird. It is not clear it is in the best interests of the share holders
> over the long term. I don't think he expected the market to crater.
> Otherwise, just buy low and watch the stock go up as it must if he
> is to win his bet. This bet may cost him a credit rating later down
> the pike and for no good reason. Writing down the paper loss didn't
> help the stock.

Dr. Doom Responds on Wells Fargo

Sun, 01 Mar 2009 15:14:47 -0500

Most of us will be investing ahead and alongside you "when the sun comes up"- dingbat.

On Mar 01 11:02 AM Douglas wrote:

> Roubini is a schmuck. God Bless you for calling him out; I pray that
> more and more people will finally someday wake up and realize that
> these losers are not the soothsayers they are made out to be. They
> are no different than an arsenist who sets fire to something, only
> to hang around and get off on the fear and panic they have created.
> WAKE UP PEOPLE....The likes of Gary Shilling, Peter Schiff, and Roubini
> only make headlines when their lifelong predictions FINALLY come
> true. You say it long enough, and guess what...it will come around
> at some point. Ever wonder why they dissappear when things correct?
> Shillings and Schiffs clients are down just as far as everyone else
> and in most cases are worse off because they have missed some of
> the greatest run ups in stock market history over the last several
> years just google it and see what past customers are saying! The
> only thing that saves Roubini, is that he hides under the umbrella
> of "economist" and not a stock market guru. I hope the loyalists
> of these fear mongering losers enjoy your paultry earnings from your
> .01% money market fund. Someday, when the sun comes up and you're
> sitting on a stack of $50 gold that you paid $1000 for, you'll probably
> hang yourself. But guess what, Schiff, Roubini and Shilling won't
> be attending your funeral because they will be off duping some other
> poor sucker into thinking the world is coming to an end!! Make your
> own decisions and create your own wealth, it's much more rewarding!!
>
>
>

Citigroup's Decline - Not a Good Sign for the Market

Sun, 01 Mar 2009 14:04:44 -0500

I also wouldn't be surprised to see a major selloff, and soon. I find the drip-drip-drip of losses more painful than a wham-bam "trading-curbs-in effect" action that is certainly needed to give birth to the proverbial "new bull""

Market Death Spiral Continues

Sun, 01 Mar 2009 10:34:51 -0500

It has been a slow drip, no "curbs in" action. I expect this to happen very, very soon....

On Mar 01 09:15 AM JPDD wrote:

> A fall below this level will likely trigger massive selling.
>
>
> As opposed to the moderate and measured selling that we've experienced
> up to now.
>
> wtf? Down 50% and you think this is mild?