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petyaczar
73 Comments
Solar Gets What They Want, But Stocks Still Suffer
Once the dust clears on the misnamed "bailout bill" and word gets out
on the renewal of the solar tax incentives then solar will rise again.
Subject of course to what happens to the irratic and illiquid and fearful financial industry - with no small thanks to "MArk to Market" and Sarbanes/Oaxley and the politicians who created this mess by foisting "Mark to Market" upon us along with the requirement for social engineering in lending thru forcing -under penalty of criminal prosecution - social engineering and requiring all lenders make loans to unqualified borrowers, especially minorities, in the name of "Social justice.
With special notice of disdain and dishonor on the major proponents bubba bill clinton, janet reno, paul sarbanes, oaxley,barney frank,al schumer, Chris Dodd, joe biden, hillary clinton, and of course frank raines of fannue mae and his major crony buddy Barak Hussein Obama, a supporter of the radical odmestic terrorist group ACORN and major recipient of politcal donations from Fannie Mae and his buddy frank raines..
The politicians caused this fiasco, not Wall Street. A Pox on both your houses.
IMO
Mark-to-Market vs. Mark-to-History
Time to dump Sarbanes/Oaxley once and forever.
However I disagree with your solution of setting up a new indexed artifical standard.
IMO the best solution is the proven solution = go back to the future and reinstate the time tested and proven balance sheet rules for valuing assets.
cost OR Market as determined by the company with "write downs" and "write offs". Allowed by rule at management discression with accompnaying footnoted justification. AND required upon disposition of the specific asset.
What's wrong with what works? the value of underlying capital assets is the "ballast" in the balance sheet, which -just as the ballast in te bottom of a sailboat - allows the boat to float and keeps the boat stable and keeps the boat from capsizing.
Thanks for nothing to all politicians who caused this problem thru their stupid attempts to force FANNIE MAE and FREDDIE MAC and all banks to make bad mortgage loans to minorities and others in the name of "social engineering" And specially to the DIMLIB democrats who over the years led this effort = Bubba bill. clinton, Barney Frank,Al schumer, Paul Sarbanes, Oaxley, Chris Dodd, Joe Biden, and of course Barak Hussein Obama.
A pox on both your houses.
Mark to Market Accounting: Kill It Before It Eats Us Alive
Au Contraire.
It cannot be done without government $$$ AND seller funded insurance to guarantee against default the questionable securities to buyers.
ALSO the idea of a $700 Billion cost to the taxpayer is false, a gross mischaracteriztion foisted upon the ignorant by those who know better.
The actual headline should read.
"Taxpayers may be hard assets at 20- 30 cents on the dollar from strapped investors and speculators AND THEN RESELL those assets with insurance attached back to other institutional investors for 60 to 80 cents on the dollar"
This is not a bail out, it is an opportunity for the government to use the strength of its balance sheet to provide liquidity, purchase performing and nonperforming assets for pennies on the dollar, then thru a seller and buyer financed govt insurance fund, Resell those self same assets back to other institutional investors. The margin on this deal and the size of the deal can potentially generate enough profit to wipe out the current account governement deficit.
PS The Alternative was demonstrated during the "little depression" of 1929 when due to a lack of liquidity the banks failed, credit dried up,jobs disappeared, tax reveunes evaporated and bread lines ensued.
The alternative to the Paulson plan and my suggestions above is a financial panic followed by a GREAT DEPRESSION.
IMO
Mark to Market Accounting: Kill It Before It Eats Us Alive
Congress created this problem thru Sarbanes Oaxley and the "mark to market nonsense.
Solution is as follows
1)Eliminate the "mark to market" nonsense immediately and forever
2)Reinstate the uptick rule
3)Reinstate Glass Steagall Act separating comm/investment banks
4)Raise margin to 50% on ALL commodities futures trading oil/gas
5)throw money into the system -Money is the best deodorant
6)Provide guarantees and establish an insurance fund
This D/A mark to market nonsense and Congressional reaction against "Wall Street" can be described metaphoirically as follows
I am captain of an aircraft carrier (The financial system)
the ship cmes into port for minor repairs
The idiots in Congress decree all ballast shall be removed from the ship (Mark to Market is equivalent to removing the stabilizers from the balance sheet = Sarbanes Oaxley ACT)
The captain returns and says WTF have you done? you screwed up the balance of my ship, it will become top heavy, unstable, and capsize without the ballast in the bottom of the hull (Balance sheet)
The Congress insists the captain takes the ship out without ballast
The captain does as told, begins aircraft carrier operations AND
the aircraft carrier is now unstable and capsizes.
The Congress blames the Captain for incompetence,
Pass the emergency measure, and eliminate Mark to market along with the above and this problem will disappear. Its "root cause" is that it is an accounting problem.
IMO
Nortel's Strange M&A Poker Game
Too much BOW and not enough WOW
Dead money IMO
SEC Retires 'Moron du Jour' Title
Yes. Adam Smith with Glass Steagall, full margin requirements and the uptick rule with no SARBOX. But not at the mmiediate moment as we are almost at the point of a financial panic.
No "not on social good". The tax system is already too confiscatory with the top 3% of most productive tax payers (top income group) paying over 50% of personal income taxes, and the botttom 50% paying essentially nothing in personal income taxes. How much more do you want from the "hated rich"?
Social Security is a ponzi scheme in which the schemers have discovered they can steal from it at will and with impunity. So either stop them from stealing from it in the future and/or privatize it. Currently you put the money in, the politician/crooks just take it out, spend it and leave you holding a worthless IOU . IF this were a private Trust fund, the trustees would all be in jail.
"Socialism for the Rich" is an oxymoron, a dimlib label to confuse the bread and circuses crowd. There is no such thing as it is their money in the first place, they earned it.
Since 1945 the politicians have managed this country into bankruptcy.
Consider this proof:
1940's FDR = Americans may not own gold
1962 JFK gets U.S. into Vietnam war by changing a few U.S. observers into many U.S. armed advisors. (PS we won in Vietnam0 just ask the Soviets, if you can find them)
1968 LBJ = Its ok to steal from Social Security to fund Vietnam war
1971 Nixon = $35 dollars = 1 once of gold, but the dollar is no longer pegged to a gold standard. Its "free" from the burden of gold reserves.
2008 ALL = Approx $900 dollars required to buy 1 once of gold
SO NOW THE DOLLAR IS WORTH ABOUT 3 CENTS COMPARED TO ITS 1971 WORTH.
That is why $30,000 houses are now "worth" $1million and why a "nickle bag" now costs over $100.
Remember "trickle down" beats "pissed away" any day
Peace and Love,
SEC Retires 'Moron du Jour' Title
I am glad they put it to the shorts - because Iwas long many options positions last week = all Sept exp.
But here are -IMO - the overriding salient macro points of this whole financial crisis.
1)Its very real
2)Its global
3)The potential precipice is very high - its a long way down.
4)Our politicians are stupid and ignorant -for the most part
5)Paulson and Bernanke are probably the 2 most knowledgeable, connected, and experienced individuals we could possibly have in their positions.
SO!!! To all I say there is good news and bad news.
First the Good news: do not be afraid,
don't worry be happy. - Mon!
Now the bad news with thanks to Martha and the Vandellas
No need to be fearful because there's "No where to run to baby, no where to hide" we are far past that.
Have a nice week.
SEC Retires 'Moron du Jour' Title
A few politicians (Congressmen) hanging around would stop the remainder from continuuing to steal $$$ from the SS trust fund, make every one feel better, and completely eliminate the pending bankruptcy of SS.
This country is on the road to potential financial collapse. We were put there by FDR and the New Deal and now Hard decisions are required to fix big problems. We used to hang horse thieves in this country - and guess what - horse thievery is way down.
Also kudos to the guy who added = "Get rid of Sarbanes/Oxley.? That piece of garbage legislation has significantly increased the cost of doing business, while adding not one iota of utility to the corporate oversight process.
Constitutional Centrist is a political philosophy that has been around for some years. Its an outgrowth of Libertarianism.
So, as I suspected, you do not know the operative definition of Facism. Get a political text, learn and then maybe we can discourse on the differences. After all if you don't know the "eigenvalues"... of either side of the equation, how can you possibly understand or add to a discussion characterizing the significant differences between the 2 states?
As a suggestion: Focus on differentiating the concepts of Rule of Law vs Rule of Man.
PS Allowing some preferences for qualified applicants = kids from Alumni and rich donors IS NOT AFFIRMATIVE ACTION . It is ENLIGHTENED SELF INTEREST. Normally called a quid pro quo.
Have a nice day.
SEC Retires 'Moron du Jour' Title
I would be happy to educate you the differences between a Constitutional Centrist and facism, But first you must prove to me that you even know what facism is: so please provide your definition and if it suffiiciently correct we may proceed.
You seem to have a bad case of harvard envy! - get over it. you'll never get in now as your name is on the black ball list.
PS I said I would never even take a dump IN the place, much less near it. Your cognitive reading skills are apparently also deficient.
Now quit playing on your company's computer and go back to getting those floors mopped before the offices upon up tomorrow.
ROFLMAO have a nice day.
SEC Retires 'Moron du Jour' Title
Gates -dropped out
Buffet - denied entry
Gates buddy Allen? - dropped out
SEC Retires 'Moron du Jour' Title
No "maybe" about it. - "definitely" would be a more appropriate word.
I replied tongue in cheek, but apparently that went over your head as well.
PS I never said GWBush did well as President, I merely pointed out that he is a lot smarter and richer and more accomplished than you are.
Columbia personally, I wouldn't take a dump in that leftist commie rat trap pretending to be a real university. dullard dimlibs is what columbia specializes in IMO.
PS GWBush -as President - was dealt a really bad hand and then he proceeded to play it poorly. Just as Bubba clinton was dealt a really great hand - thanks to Ronald Reagan and Bush 41 - and clinton proceeded to play that hand very poorly - setting up 911 and the current financial panic. IMO
SEC Retires 'Moron du Jour' Title
RE: Harvard MBA's They are smart AND well educated.
As my dad - a drill press machinist - said upon my graduation from Harvard business School
"Well, if you had to go to a vocational school, at least you picked a good one"
BTW GW Bush is a multimillionaire many times over, one time owner of a major professional sports team, AND 2x elected Gpvernor of Texas, AND 2x elected President of the U.S.A.
I just bet those accomplishments make him more successful and richer and smarter than you.
Not bad for a "dumb guy" (sic) just think what GWB could have accomplished had he been "smart"(sic)...
ROFLMAO
SEC Retires 'Moron du Jour' Title
1)Immediately begin enforcing the uptick rule.
2)Reinstate Glass Steagall.
3)Raise margin requirements on ALL futures trading to a minimum of 50%. -not the 5% as it is on oil futures.
4)Make diverting $$ from the Social Security Trust Fund a CAPITAL OFFENSE punishable by public hanging televised live on C-Span,
Doing (4) will make everyone feel better, and cause Congress to STOP STEALING TRUST FUNDS, and thereby eliminate the pending social security crisis.
IMO
Solar's Brightest Companies Named; Sector Outlook Is Dim
I'm with you, Apparently some "talking heads" have decided that while Moore's Law did wonders for the computer industry, Petyaczars "Solar Corollary to Moore's Law" will not do the same for the solar industry.
The soct of solar panels will continue to drop significantly, as their energy production efficiency continues to improve significantly. The resulting drop in cost per unit of power will result in MORE DEMAND, INCREASED PRODUCTION, and further lower costs of production.
This will indeed drive cost downs while increasing demand and thus drive revenues and profits up! IMO. When did the solar industry go from "a critical silicon shortage" to "an oversupply of capacoty" apparently at some time the solar industry must have been in perfect balance, when and where? - never happened, more growth, SHINE SHINE SHINE is the solar equivalent of DRILL DRILL DRILL for oil.
You said it best IMO
Cheaper panels = more panels sold = good thing.
These talking heads need to go back to school, stop talking and start listening and thinking.
SunPower, Solar Stocks Hit By Panel Price Prediction
So is iron, copper, gold, silver, ALL ore requires refining. So why should sililcon "ore" be any different. Don't be so lazy... refine and pusify.
PS in the face of rising demand, and with essentially unlimited supply of raw ore, build the facilities to meet the demand AND = THEY WILL COME.
Seriously I do not understands the point of these comments of yours.
PS recycling "old panels" for their materials is also a growing and profitable business.