AndrewBaker

Wall Street Breakfast: Must-Know News

Pensions: just another way for the CEO and other ranking employees to overpay themselves whilst their company's profits dive and the inflated stock price falls. That and over-generous salaries and bonuses are some of the ways that this elite have contributed to the current financial crisis, that the rest of us will be paying for for many years to come.

Wall Street Breakfast: Must-Know News

At long last and not before time, reality is starting to creep into the pricing of bank and financial stocks. They are way overpriced, and many will now stop crowing as they see the illusory profits they thought they had made recently, fade away.

Short financial ETF are the place to be, and for those racier investors amongst us, FAZ is looking good. It needs to be respected, but big profits can reward an investor quickly, and at this time it's worth a look. It looks to have bottomed and started the climb up recently, and for a short term and day trader offers good returns potential. Plus the RSI is looking good too.

Don't want so much leverage as three times? Then SKF at 2x is there, and if no leverage is wanted, then SEF will assist.

Wall Street Breakfast: Must-Know News

I've decided that I have to get out of the financial and index shorts that I'm holding as the powers-that-be won't let the banks and financials fall anytime soon. They will drop in time but that will be a long way into the future, when the planned-for inflationized recovery has made our pain seem not as bad as it really is because the numbers will all be bigger, but not worth nearly as much.

Doing it this way will make us all poorer than we otherwise would have been, but will enable the boys to claim they've saved the economy, the world and anything else that's not nailed down. They will be fine, we will be poorer, but not totally sure about that because it will have taken so long and values so messed up because of inflation that all we will know for sure is that somehow we were done over by legalized grifters.

Wall Street Breakfast: Must-Know News

We all know the financials are in a mess, and that includes the life assurers, whose bad and toxic debt situation we have yet to hear about: it's not just the banks who'll have to write off so much more going forward.

And the banks have credit cards to rake in more money (and they won't suffer too much here from Obamafication), whilst the insurers have only the money savers have given and continue to give to them.

When we will hear even a part of the truth from financials' CEO andf politicians; or maybe they don't even know how bad it is themselves. If they did, they could not keep making such rubbish statements about greenshoots and recovery, unless they really are the outright liars many are thinking.

Wall Street Breakfast: Must-Know News

Yes, so BofA is unpopular as are all the banks (except maybe JP Morgan where Jamie is doing as good job, and Wells Fargo who are also well amanged), and they are also near bankrupt and perhaps would be if not for hand-outs, TARP and guarantees: but we need them. Sure, sack the bloated and bad executives, and find better managers, but support them so they can get back on a decent footing. The government is not going to nationalize them. They have said so and it's against the American way of doing things; so stop being scared of their stock. Buy bank and financial stocks and it will become a self-fulfilling prophecy that they will then do well when such support is seen. Look at AIG: from a basket case to starting to do things to make things come good. I'll short to make a buck, and have shorted financials, but now is the time to go long on their stock and long on our future vision of once more being a financially sound economy admired, sometimes grudgingly, by the rest of the world.