kowalski

The Crash of 2008

Eagle-Chief,

yes,

Wall Street is a con game, but people have short term memories, and as long as there is capitalism, a need (even a desire) to make money..

I have seen this scenario unfolding many times before, and I doubt it will be different this time, because - quite frankly - there is no alternative... not as long as human nature is what it is: stupid and greedy!

Besides, Putin is the wrong man to make comments on who has lost what and for how long... Russia is the worst and most corrupt country of all!

This Bear Market is Worse Than I Thought

Buy more and go for broke; it is a rational thing to do in this market.

Looking into GM's History

So while the Dow went up 25.7 fold, GM went up only 13 fold? If we use the 2000 high point of 11,722 then the Dow was up 30.7 fold. In that light, how was "what's good for GM good for America?"

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Maybe, just maybe GM used to pay fair salaries to his workers?!

Government Intervention and the Irony of Modern Capitalism

Hahaha... These statistics are a complete joke.

So 93% of the rich own cars with median value $31k ?!

I assume it must be aliens from another planet who own all the Ferrari, Porsche, Mercedes Benz, Bentley, Rolls-Royce, Aston Martin, Lamborghini, Maybach etc.

Is the End of the Crisis Near?

"Some big money is exiting the stock market in an organized, well planned, and determined fashion. This is not panic nor desperation. I don't know who the big money is, hedge funds, mutual funds, pension funds."

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Hedge Funds need huge amounts of money b/c of year-end redemption calls!

www.marketwatch.com/ne...

Russia: From Growth to Mere Survival

"To me, it's a classic case of economic Game Theory – each player is distrusting others, and subsequently hoarding capital. The banks are afraid their loans won't be paid back, which creates a credit lockup."

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Yes, and why would that be?! Because we live in a "F*ck You Buddy" society! Rather a moral liability, it is deemed rational and clever to cheat... Game theory is Psychopathology!!!

Watch Adam Curtis' BBC documentary:

"The Trap: What Happened To Our Dream Of Freedom?"

www.youtube.com/watch?...

Have We Learned Anything Yet?

But there is no free market; there is a plutocracy / kleptocracy "gaming" the system...

Have We Learned Anything Yet?

I dare to predict that the FED will eventually gain emergency powers to buy stocks directly in the marketplace.

Have We Learned Anything Yet?

There is no lesson here; nobody will learn anything! The FED will regain control over the financial system and the economy and in a few years the whole mess will be forgotten! Such is human nature!

@VIC: Bill Ackman on Wachovia

So you are long WFC now?!

What happened to your former C and WB positions?!

Did you play with their values, or did they play with you?!

What To Look For Next in This Market

You are mistaken in your calculation! Let's take DELL.

Cash 8.6 billion
Net Receivables 8.1 billion
Accounts Payable 15.5 billion

(Numbers as of 1-Aug-08)

That means, my friend, net cash on the balance sheet is a meager 1 billion!!

Added Liquidity Part of the Problem, Not the Solution

"Whereas the original panic valued credit risk at infinity, the panic response made (temporarily) credit risk 0 -- but only for banks, ..."

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Excellent!

Irrational Despair Is Creating Great Buying Opportunities in Two Chinese Companies

"Gurus" are conmen; self-proclaimed even more so!

Munis in the Crosshairs

"How did one county borrow more than the Budget of the entire state for ten years running?"

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Derivatives!

Shopping During Armageddon

What happened to the link to your portfolio performance on your "valueplay" blog?!

Can't find it anymore...