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Gene Jaquet

Gene Jaquet
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  • Wall Street Breakfast: Billions Withdrawn From Pimco Following Gross's Departure [View article]
    Question : why was AIG, amongst all the insurance companies in the US, the only one that needed a bailout ?

    Answer : Hank Greenberg.

    What's my point ? The company didn't need a bailout because of anything to do with insurance (as you and I understand the term) otherwise others in the same business would have been hit as well. It got into trouble purely because Greenberg took the company in a new direction : writing credit default swaps. And massive amounts of them. He is the reason they needed to be bailed out.

    Not only is he getting off scott free, he is using his millions to sue the taxpayers that rescued his personal share portfolio. Greed and arrogance don't even begin to describe the man.
    Sep 29 03:34 PM | 4 Likes Like |Link to Comment
  • Wall Street Breakfast: Siemens To Acquire Dresser-Rand For $7.6B [View article]
    "Blackstone says it is giving up on Russia and ... says it has not found suitable investment opportunities in the country in the last three years."

    Translation : Blackstone can't figure how to keep the crooks and thieves from stealing their money if ever they were to invest in Russia. If Putin or one of his cronies were to have a bad hair day... poof !! their rubles turn to rubble.
    Sep 22 09:05 AM | 8 Likes Like |Link to Comment
  • Why Amazon Has No Profits (And Why It Works) [View article]
    Sounds like a perfect target for Alibaba, too!
    Sep 6 10:37 PM | 3 Likes Like |Link to Comment
  • Why Amazon Has No Profits (And Why It Works) [View article]
    Maybe that's why they just borrowed $2b
    Sep 6 10:31 PM | 1 Like Like |Link to Comment
  • Why Amazon Has No Profits (And Why It Works) [View article]
    Right... so your criteria is momentum. Thought so.
    Sep 6 09:39 PM | 2 Likes Like |Link to Comment
  • Why Amazon Has No Profits (And Why It Works) [View article]
    "When it no longer meets my investment needs, I will replace it then. Is that too tough to understand?" Yes it is - if you don't state your criteria, it's gibberish.

    When won't it meet criteria anymore? After it's down 50? Up 50%? When you change your mind?
    Sep 6 06:01 PM | 1 Like Like |Link to Comment
  • Why Amazon Has No Profits (And Why It Works) [View article]
    Sounds like a perfect target for Carl Ichan
    Sep 6 05:52 PM | 1 Like Like |Link to Comment
  • Why Amazon Has No Profits (And Why It Works) [View article]
    Just a thought : I don't know much about the company but one phrase in the article caught my attention: "When you buy Amazon stock (the main currency with which Amazon employees are paid, incidentally)".

    What happens to future margins (hence future profits) the day Amazon stops investing for growth and starts milking the e-commerce machine? Will they still accept shares, or will the wage bill sky-rocket? Will the best and brightest stay on?

    It sounds like the perfect storm - once the merry-go round stops the share price stagnates as growth tappers off, wage costs increase disproportionately, shares lose more ground...

    Amazon is not be a ponzi scheme, but like ponzi schemes you don't want to be on the merry-go round when it stops.
    Sep 6 05:41 PM | 1 Like Like |Link to Comment
  • Wall Street Breakfast: Investors Brace For Today's ECB Policy Meeting [View article]
    POW : you do get up early to pump your blog, don't you? I'm surprised you still have time to beat the S&P by 1,200%. All in a day's work, as they say.
    Sep 4 08:15 AM | 1 Like Like |Link to Comment
  • Wall Street Breakfast: Apple Partners With Credit Card Providers For iPhone Wallet [View article]
    JC, Apple didn't invent smartphones or tablets either. Apple takes existing technology, tweeks it, links it to easy-to-use software, and makes billions of dollars doing so.

    I've had Samsung phones for years, as have my friends, and none of us has ever used the NFC feature. But I'll bet that as soon as my kids get the new iPhone they'll be buying junk with it on day two.
    Sep 2 10:44 AM | 3 Likes Like |Link to Comment
  • Wall Street Breakfast: Telefonica, Telecom Italia In Bidding War For Vivendi's GVT [View article]
    So Putin has finally disproved those arguing that matters in Ukraine were a domestic dispute, and is now invading another country to further his own national interests.

    For those still daft enough to think that Eastern Ukraine is a stage for brave "freedom fighters" protecting locals from discrimination and harassment, ask yourself one simple question : why did no one hear about this discrimination and harassment before the beginning of this year? Show me one single media report prior to 2014 about Russian-speaking residents in Donetsk being throw in jail or denied jobs or votes or anything else, on the grounds of their origin, language or culture. In fact, representatives from the pro-russian East controlled, and still control today, most seats in the Ukrainian parliament.

    This is a manufactured crisis. The blueprint, the soldiers and the weapons all hail from Russia. Putin has designed and orchestrated a civil war (now an outright invasion) in order to prevent a democratic country from signing a free-trade pact with the EU.

    That he wants a buffer of friendly neighboring states is understandable; that he is willing to kill and destroy so as to keep those states friendly is unnacceptable. He is only able to do so because he leads a government that is fascist in all but name.
    Aug 28 09:05 AM | 16 Likes Like |Link to Comment
  • Wall Street Breakfast: Euro Sinks To 11-Month Low On ECB Outlook [View article]
    You're ging to have to try harder, GGGL. Europeans churn out luxo-trash that the whole world loves to buy, so what's not to like? They borrow money at below US govt rates, so what's not to like? They're living the high life on borrowed money, good for them. And as to your assertion that somehow the pennies rolling in from eastern europe are supporting their economy - you better stop taking those pills.

    We've gotten the message that you have a chip on your shoulder about Europe. So let's hear something new (yawn).
    Aug 27 09:27 PM | 1 Like Like |Link to Comment
  • Wall Street Breakfast: Euro Sinks To 11-Month Low On ECB Outlook [View article]
    The thought of Hank Greenberg, who set in motion the policies that nearly bankrupted his company, getting money back from the taxpayers that bailed him out, is simply nauseating. Greenberg belongs in jail.

    Greenberg presided over AIG's entry into the Credit Default Swap business. It happened on his watch, with his approval. Margin calls on AIG's CDS portfolio led to the liquidity crisis which caused its near collapse, were it not for the government bail out. When Greenberg took over, AIG insured property, casualty and life. When he left it was a too-big-to-fail financial powerhouse with fingers in all of wall street's pies. I am amazed he is still a free man.
    Aug 27 09:04 PM | 2 Likes Like |Link to Comment
  • Wall Street Breakfast: Euro Sinks To 11-Month Low On ECB Outlook [View article]
    The more regulations the government makes, the more fines it will be able to collect for breaching them. It's arithmetic. And it's racketeering by any other name.
    Aug 27 09:01 PM | 1 Like Like |Link to Comment
  • Memo To McDonald's: Core Execution Should Be On New U.S. President's To-Do List [View article]
    Many thanks, one rare article in which every point is relevant and accurate
    Aug 27 08:49 PM | 1 Like Like |Link to Comment
COMMENTS STATS
514 Comments
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