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  • Hedge funder John Paulson rips Occupy Wall Street protesters: "The top 1% of New Yorkers pay over 40% of all income taxes, providing huge benefits to everyone in our city and state... Instead of vilifying our most successful businesses, we should be supporting them." But this year anyway, Paulson & Co. wouldn't be considered very successful.  [View news story]
    This is hilarious...Paulson lumping himself in with the "most successful businesses" of New York. I wish I had the foresight to lose half of all my client's assets gambling in the stock market. Thank god he paid himself tens of billions of dollars when his bet on subprime worked out. He'll need some of that to support his opulent lifestyle when he's unemployed at the end of the year.
    Oct 11, 2011. 05:57 PM | 3 Likes Like |Link to Comment
  • Alcoa (AA): Q3 EPS of $0.15 misses by $0.08. Revenue of $6.4B (+21% Y/Y) beats by $0.2B. Shares -3.3% AH. (PR)  [View news story]
    Ummm, might want to double-check that after-hours performance. Try down about 5%
    Oct 11, 2011. 04:31 PM | Likes Like |Link to Comment
  • Wall Street protesters draw attention to "excessive" bank profits, but financial firms are not at the top in either least taxes paid or CEO pay, according to a CNBC analysis. Financials' effective corporate tax rate is in the middle, ranking sixth among sectors at 28.8%. Tech firms have the second highest amount of average earnings but the lowest effective tax rate, 23.4%.  [View news story]
    First of all, any "analysis by CNBC" should immediately be dismissed as their existence is predicated solely on a frothy, bloated, bubbly Wall Street. Secondly, the reason no one is protesting Google and Apple, is because they actually ADD value to society, unlike Wall Street, which SUBTRACTS value...roughly $20T in our nation's net worth.
    Oct 11, 2011. 02:13 PM | 2 Likes Like |Link to Comment
  • Based on projected earnings, stocks are 35-40% undervalued, says Chapwood Investment's Ed Butowsky. The problem is that everyone's tuned into the technicals rather than the fundamentals. "If it doesn't affect earnings, it's not important to the market," Butowsky says. "Just buy stocks right now... six to 12 months out you're going to be happy you did." (video)  [View news story]
    Absolute drivel...disgraceful of seekingalpha to link to that worthless banter
    Oct 10, 2011. 08:09 PM | Likes Like |Link to Comment
  • Today's face-ripping rally was the worst thing that could have happened other than for nimble short-term traders, Josh Brown writes: "I'd much prefer to get the final flush over with so I can rebuild my longer-term positions again. Flush denied, we're gonna play the game a bit longer it appears."  [View news story]
    If Josh Brown is expecting the "final flush" in a matter of days or weeks, he is going to be disappointed. It'll take a while to get to 666 on the SPX.
    Oct 4, 2011. 05:29 PM | Likes Like |Link to Comment
  • Morgan Stanley's Adam Parker warns that stocks could take a beating if earnings fall short of current expectations of ~$112/share. "If prior recessions prove relevant to next year’s economy, $54-$68 in EPS in 2012 would be a more likely range.” Attaching a reasonable 15 P/E multiple to the low end of that range would result in 810 on the S&P 500 - a 28% plunge.  [View news story]
    If he's right about a 2012 EPS range of $54-68, then his 810 S&P estimate is grossly optimistic. More like 600-700.
    Sep 26, 2011. 10:05 PM | Likes Like |Link to Comment