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BetTheHouse

BetTheHouse
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  • Looking back 15 years, Citigroup finds it best to stick with winners entering a new year and stay away from the past year's dogs. Buying the dogs only seems to work well at major macro turning points - 2000, 2003, and 2009 being the only years when they outperformed, a cautionary idea to those who want to buy beaten-down financials just because they're cheap.  [View news story]
    Good advice. As a result I will certainly refrain from buying any C stock.
    Dec 23 03:18 PM | 2 Likes Like |Link to Comment
  • We need to stop bashing rich people and big business, says Jamie Dimon. Our country is the greatest in the world, and our businesses are world class institutions that provide a wealth of products, employment and services. Our focus should be on dealing with the "bad apples" in the bunch, not denigrating entire institutions. Owning a big business doesn't make you evil, and just because you're rich, doesn't mean you're bad. (audio)  [View news story]
    Big talk for a guy whose tit taxpayers had to pull out of the wringer just a few short years ago and who survives today on fed-funded ZIRP. Save us the lectures Jamie. You're a welfare queen. Why WOULDNT regular taxpayers attack you?
    Dec 7 09:30 PM | 3 Likes Like |Link to Comment
  • The S&P 500 should post modest gains next year, says Russell Investments' Stephen Wood. Unfortunately, right now we are engaged in a violent tug-of-war between the stuff we can measure, like positive economic and corporate data in the U.S., and the irrational fear of the unknown, Europe especially, that make forecasting a very difficult task. In the end though, it's the fundamentals, valuations and earnings that really matter, and the markets will stabilize. (video)  [View news story]
    Totally agree. I would add that there is very little evidence to support the claim that fundamentals matter. What actually matters now, and has for some time post 2008, is government intervention, central bank activity, rumor and headline. If fundamentals actually mattered, this entire market would tank, we would experience creative destruction, and as a rsult a much healthier economy and maybe even an actual free market This guy sounds like another sell side pumper talking his book.
    Dec 1 09:07 PM | 4 Likes Like |Link to Comment
  • Likely unable to raise capital the old-fashioned way - issuing shares and shedding assets - European banks are set to indulge in some fancy footwork. Known as "R.W.A. optimization," the process involves altering the risk-weighting on existing assets to allow less capital to be held against them.  [View news story]
    OK. Sounds like the solvency problem is solved. Rally on!
    Nov 25 08:44 AM | Likes Like |Link to Comment
  • Tyler Cowen says traditional conservative responses to wealth inequality - a stronger work ethic and embrace of the entrepreneurial spirit - are growing tired: "Modern conservative thought is relying increasingly on social engineering through economic policy, by hoping that a weaker social welfare state will somehow promote individual responsibility. Maybe it won't."  [View news story]
    Simmer down there killer There's a little foam on your lip there.
    Nov 13 02:33 PM | 1 Like Like |Link to Comment
  • Tyler Cowen says traditional conservative responses to wealth inequality - a stronger work ethic and embrace of the entrepreneurial spirit - are growing tired: "Modern conservative thought is relying increasingly on social engineering through economic policy, by hoping that a weaker social welfare state will somehow promote individual responsibility. Maybe it won't."  [View news story]
    Spare me the whole steely-eyed capitalism BS. There are no bigger freeloaders around today than Wall Street. Very little difference between Jamie Dimon and a welfare queen. Well, the welfare queen is cheaper of course and probably feels less entitled than Jamie.
    Nov 12 08:25 PM | 8 Likes Like |Link to Comment
  • Why Italy Won't Fail, And The ETFs To Consider Buying Now [View article]
    Math is apparently not your strong suit. Italy has joined Greece at the point of no return. The only question is when and how big the "voluntary" haircuts are going to be.
    Nov 10 09:11 PM | 2 Likes Like |Link to Comment
  • Those bashing Ben Bernanke over his inflation record should look at the stats, says Jon Hilsenrath in the WSJ. CPI on Bernanke's 67-month watch has averaged 2.3%, giving him one of the best records of all Fed chairmen. It's lower than Alan Greenspan's 3.1% and Paul Volcker's 6.2%, although the latter did inherit double-digit rates.  [View news story]
    I'm just impressed that Jon Hilsenrath took his lips off Bernankes ass long enough to write that article. Or perhaps the article was basically written for him by the Fed. Most of Jon's articles are.
    Nov 6 06:37 AM | 13 Likes Like |Link to Comment
  • Goldman (GSAM) chairman Jim O'Neill is characteristically bullish on China (most likely scenario: "no landing" to "soft landing") and the U.S. (banks are reporting a pickup in C&I loans). O'Neill calls the idea that we'll see at least 12 more months of Japan-style weak growth "quite unlikely."  [View news story]
    With the terrible quarter GS just had, Jim should probably put a sock in it and focus on his business.
    Oct 22 09:02 PM | 1 Like Like |Link to Comment
  • What happens in Europe is irrelevant to U.S. banks, says Dick Bove. It may mean everything to investors, but it has nothing to do with the operating earnings of these companies. Regional banks, trust banks and national banks are all doing quite well. His top picks: U.S. Bancorp (USB), PNC (PNC), BNY Mellon (BK), State Street (STT) and Northern Trust (NTRS). (video)  [View news story]
    increases his chances of being right. Here I'll make a
    dick Bovian prediction. Stocks are either going to rise, fall, or perhaps rise and fall in that order or possibly in the reverse. Can I have Dick Bove's salary now? Just forward the check to my place in the Hamptons.
    Oct 22 10:38 AM | 1 Like Like |Link to Comment
  • What happens in Europe is irrelevant to U.S. banks, says Dick Bove. It may mean everything to investors, but it has nothing to do with the operating earnings of these companies. Regional banks, trust banks and national banks are all doing quite well. His top picks: U.S. Bancorp (USB), PNC (PNC), BNY Mellon (BK), State Street (STT) and Northern Trust (NTRS). (video)  [View news story]
    You just can't make this stuff up. This is the same Dick Bove who said BAC was a "once in a lifetime buying oppotunity" at $38. The same Dick Bove who assured us that subprime was nothing to worry about. How a guy as embarrassingly, consistently, loudly, completely wrong in his predictions as this jack hole remains employed and continues to be quoted as some kind of authority is Gods own private mystery. You LITERALLY would get better returns by flipping a coin. Wonder what's wrong with today's Wall Street sell side pump machine? Ladies and gentlemen, I give you Dick Bove.
    Oct 21 09:45 PM | 12 Likes Like |Link to Comment
  • Overnight deposits with the ECB hit a fresh 2011 high of €255.57B ($341.88B) on Friday, well above the €100B that indicates stress in interbank lending markets. It has been the inability to obtain wholesale financing that has caused Dexia's (DXBGF.PK) woes.  [View news story]
    But ... but ... but ... Merkel and Sarkozy said they had a plan to issue a plan to solve this in a few weeks. Buy! Buy! Buy!
    Oct 10 08:39 AM | Likes Like |Link to Comment
  • Euro Panic Update: Fear Remains Intense But Conditions No Longer Deteriorating [View article]
    Shorter CBP: Things are so bad they are actually awesome! Buy, buiy, buy!!!
    Oct 7 06:31 AM | 2 Likes Like |Link to Comment
  • The news from Europe torches a few dollar bulls, as all of the "risk" currencies melt higher to the tune of 1% or more in the space of a few minutes.  [View news story]
    And of course, when you say "news" in your headline, you mean this week's latest bullshit rumor to try to justify this sick HFT manipulated market. Wonder if the good folks down at the SEC quit surfing porn long enough to notice the nearly 400 POINT swing in the DOW in the last half hour. They don't even try to hide it any more.
    Oct 4 04:36 PM | Likes Like |Link to Comment
  • Market recap: News of EU finance ministers looking at ways to recapitalize European banks, plus Dexia's plans to set up a bad bank, sent shorts running for cover, as stocks capped a furious last-hour comeback. Banks ripped higher: MS +12%, GS +5%, BAC +4%. The euro reversed losses vs. the dollar; 10-year Treasury yields jumped 11 bps. NYSE gainers led losers three to one.  [View news story]
    Important? What it means is they turned on the HFT robots in an attempt to shock and awe people out of shorting the banks. It's a sick rigged market. And it's also a sign of their deparation. Tick-tock, boys. Tick tock.
    Oct 4 04:19 PM | 1 Like Like |Link to Comment
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