Camden

Banking Uncertainty - It's Back

Schweizer is delusional.

Geithner's Plan Fits Perfectly with New Mark to Market

Re: "With Geithner’s plan these assets will return to much higher levels...even approaching a full 100 cents on the dollar as housing stabilizes and investors return to the space."

That's like saying the millions of foreclosures aren't happening. Many of these RMBS truly are worthless. As a group they could not be worth 100 cents on the dollar to the banks holding them. To the investors getting non-recourse loans and 6-1 leverage through the PPIP program they could be worth substantially more than the previous distressed prices, but will still not bring the value up to 100%.

Awaiting Apple Earnings and Guidance

Zach,
Are you really saying Apple will drop to the $80ish area and THEN have a big sell-off? Meaning Apple will soon be trading in the $60's? That's really would be interesting.

Financials To Resume Meltdown Momentarily

Jason, I enjoy reading your commentary, but wonder about this comment: "J.P. Morgan issued a statement saying that trading conditions have substantially deteriorated since June. This will effect those financial leaders who have yet to be clobbered, like Goldman Sachs (GS). Ken Heebner, an investor who reportedly trades similarly to Goldman, suffered his worst month managing the CGM Focus Fund in July as he, and probably Goldman as well, expected oil to continue up to $200 a barrel" I

I've heard Hebner speak many times over the past year and never heard him say anything that would suggest he is or was a making any bets on the short term price of oil. He DOES believe oil will continue to dominate the world's list of needed energy resources and has made a big bet that Petrobras will be a big winner LONG TERM. That position in addition to one in Mosaic are what caused the major hit to his portfolio. From everything I've heard, Goldman's portfolio is MUCH, MUCH more balanced in terms of asset allocation and is not subject to the whims of the stock market. If anything, I'd guess Goldman's commodity trading is likely to be one of the reasons Hebner had a miserable month. I'd say they may well have been inversely correlated recently. Using Hebner's performance as a proxy for Goldman's is nuts in my opinion.

Sell the News, Buy the Rally

To those in charge of Seeking Alpha,

I consider this the worst article I've read on your site. Come on guys! Raise your standards.