Ted Bear's Comments Ted Bear's Comments RSS Syndication from SeekingAlpha.com http://seekingalpha.com/user/959280/comments "Why would they rush to taper now," says UBS' Drew Matus (also formerly a Fed economist), noting unemployment is nowhere near low enough and inflation is at a half-century low. A Bloomberg survey of economists has the FOMC waiting until its late-October meeting before commencing the taper and slashing purchases to $65B/month from $85B. http://seekingalpha.com/currents/post/1092962?source=feed#comment-20135382 20135382
The TBTF Banks are a heart beat away from having their equity capital wiped out. Changing the rules to allow them to throw everthing but the kitchen sink into their capital calculation hasn't changed the fact that one major event will destroy their 'real' capital.

So, how can QE end? It has been the ultimate 'kick the can down the road' strategy. Does it end because it no longer does anything? Are we bumbling along at a contrived 2% because of QE, and without it we whither? Do we faze it out and pretend everything is fine? Or does the market sniff that out pretty quickly? Or does the FED announce a formal schedule of retractment, we get a big market bump, a quick slowing of the economy, and then we see if either can find their legs?

Who knows? But i suggest that it won't look like we all think it might...as in, QE will fade, but some 'new' contraption will come along to take up the slack. This could go on for decades before final jeoprady.]]> Wed, 19 Jun 2013 08:12:50 -0400
The TBTF Banks are a heart beat away from having their equity capital wiped out. Changing the rules to allow them to throw everthing but the kitchen sink into their capital calculation hasn't changed the fact that one major event will destroy their 'real' capital.

So, how can QE end? It has been the ultimate 'kick the can down the road' strategy. Does it end because it no longer does anything? Are we bumbling along at a contrived 2% because of QE, and without it we whither? Do we faze it out and pretend everything is fine? Or does the market sniff that out pretty quickly? Or does the FED announce a formal schedule of retractment, we get a big market bump, a quick slowing of the economy, and then we see if either can find their legs?

Who knows? But i suggest that it won't look like we all think it might...as in, QE will fade, but some 'new' contraption will come along to take up the slack. This could go on for decades before final jeoprady.]]> The SEC plans to alter the somewhat cozy relationship it has with Wall Street and force companies to admit wrongdoing in some settlements or face the risk of going to court instead. That's not to say that the agency will abandon the "no admit, no deny" approach, new Chairwoman Mary Jo White said yesterday, but it does mark her first big policy change. It comes after the likes of Judge Jed Rakoff rejected the SEC's $285M deal with Citigroup because of the "no admit, no deny" clause in the deal. http://seekingalpha.com/currents/post/1092592?source=feed#comment-20133612 20133612 Wed, 19 Jun 2013 07:14:30 -0400 "Chill out," tweets the FT's Robin Harding, whose article suggesting Bernanke is likely to signal a coming taper at his press conference on Wednesday sent interest rates higher and knocked the Dow for about 150 points. Harding says there was nothing leaked, especially during the blackout period just ahead of an FOMC meeting. Harding's piece isn't much different than Hilsenrath's from last week (which sent markets higher): Tapering is on the way, but it's not an end to QE and certainly nowhere near a hike in interest rates. http://seekingalpha.com/currents/post/1089212?source=feed#comment-20074832 20074832 Mon, 17 Jun 2013 17:31:36 -0400 This week, Exxon Mobil (XOM) CEO Rex Tillerson made a public plea, arguing that government delays of natural gas export permits is hurting the U.S.: "It’s a competitive marketplace. It’s not like people are just going to stand at our door like panting dogs just waiting for us to give [LNG] to them." He says he left a meeting with the new energy secretary with no idea when XOM’s $10B Golden Pass LNG project might be approved. http://seekingalpha.com/currents/post/1086442?source=feed#comment-20018082 20018082
Yes, shale. A very harsh polluter, and given Exxon's environmental record, i wouldn't rush to encourage them in their commercial exploits either.

We have what's left of only one planet. Not every square inch of the remainder needs to be exploited for commercial gain.

Capiche?]]> Sat, 15 Jun 2013 13:44:37 -0400
Yes, shale. A very harsh polluter, and given Exxon's environmental record, i wouldn't rush to encourage them in their commercial exploits either.

We have what's left of only one planet. Not every square inch of the remainder needs to be exploited for commercial gain.

Capiche?]]> What austerity? Spain's public debt posts its fastest Y/Y rise in history in Q1 and now sits at a record 88.2% of GDP. The €922.82B figure is 19.1% higher than Q1 of 2012. According to government estimates, the debt-to-GDP figure will rise to 90.5% by the end of this year. http://seekingalpha.com/currents/post/1086242?source=feed#comment-19999002 19999002
That's pretty funny. What you have is a situation where the governemnt fat cats spent these nations into oblivion. Not unlike what Congress has done to America.

Unlike America, however, the common folks in our European brethren have told the government you spent it, you enjoyed the spoils from the kickbacks and profligate spending, now you figure out how you are going to solve the problem which you created. We the people are NOT part of either the problem nor the solution. If you make an ass of yourself on the world stage, that is your problem. The world is not going to think anything more, or less, of Joe Six Pack if YOUR spending puts the country into financial obscurity. The first round in America they shoved it down the taxpayers throats--that's not likely to happen the second time around, IMHO.]]> Fri, 14 Jun 2013 17:22:12 -0400
That's pretty funny. What you have is a situation where the governemnt fat cats spent these nations into oblivion. Not unlike what Congress has done to America.

Unlike America, however, the common folks in our European brethren have told the government you spent it, you enjoyed the spoils from the kickbacks and profligate spending, now you figure out how you are going to solve the problem which you created. We the people are NOT part of either the problem nor the solution. If you make an ass of yourself on the world stage, that is your problem. The world is not going to think anything more, or less, of Joe Six Pack if YOUR spending puts the country into financial obscurity. The first round in America they shoved it down the taxpayers throats--that's not likely to happen the second time around, IMHO.]]> Deutsche Bank (DB -2%) is "horribly undercapitalized" with "no margin for error," the worst of all global banks based on at least one measurement of leverage, says FDIC vice chairman and former Fed maverick Thomas Hoenig. Stefan Krause, the bank's CFO, says the analysis is inaccurate, pointing to the Basel framework. That's Hoenig's point; Basel allows banks to appear well-capitalized when they're not. http://seekingalpha.com/currents/post/1086142?source=feed#comment-19998362 19998362
From what i hear on the ground, one mis-step and their equity capital is wiped out.

Two mis-steps and the world has a HUGE problem. But are they any different than Socgen, CitiBank, or Barclays? We changed the accounting to 'ignore', but that didn't change the fundamentals.]]> Fri, 14 Jun 2013 17:03:26 -0400
From what i hear on the ground, one mis-step and their equity capital is wiped out.

Two mis-steps and the world has a HUGE problem. But are they any different than Socgen, CitiBank, or Barclays? We changed the accounting to 'ignore', but that didn't change the fundamentals.]]> California Democrat Linda Sanchez requests an FTC investigation of Herbalife (HLF) saying that as she has "learned more about the issue from [her] constituents … [she] believes it is the FTC's responsibility to examine allegations" that the company takes unfair advantage of one of the "country's most vulnerable populations." For its part, HLF says had she called the company, it would have explained how its products "change people's lives." http://seekingalpha.com/currents/post/1084132?source=feed#comment-19961012 19961012 Thu, 13 Jun 2013 20:03:08 -0400 CNBC's Jim Cramer thinks the shrinking number of underwater mortgages and a rising net interest margin are "incredibly" bullish signs for bank stocks. 9.7M properties were underwater in the U.S. during Q1, down from 10.5M in Q412. That's significant, he adds, because when a homeowner goes from underwater to above water on their mortgage, they spend three times as much at the retail level than they would do otherwise. His favorite pick: Wells Fargo (WFC). It's the single greatest play if you think houses are coming out from underwater," Cramer says, because of its "ability to take the collateral and make new loans." (Video). http://seekingalpha.com/currents/post/1081382?source=feed#comment-19913092 19913092
Of course, he had quite a call on Bear Stearns in the financial sector....couldn't buy enough of that one at $30 or so......although now he says he never said that (of course).

Crammer is a great entertainer. "When he ran his hedge fund..." not so much (unless he had the first call on a Fidelity buy order, or a large block of stock which was being shopped around. Then he was awesome ; - )]]> Wed, 12 Jun 2013 21:13:30 -0400
Of course, he had quite a call on Bear Stearns in the financial sector....couldn't buy enough of that one at $30 or so......although now he says he never said that (of course).

Crammer is a great entertainer. "When he ran his hedge fund..." not so much (unless he had the first call on a Fidelity buy order, or a large block of stock which was being shopped around. Then he was awesome ; - )]]> A rare analyst with a Sell rating on Citigroup (C), Charles Peabody estimates the bank could lose $5B-$7B this year thanks to the dollar's strength. The bank's global reach is a good bet, says Peabody, when growth is good, but slumping growth means the risks from currency swings are of more import. We're appropriately hedged, says a bank spokesman. Shares -1.4% premarket. http://seekingalpha.com/currents/post/1076262?source=feed#comment-19831472 19831472
How funny is that?]]> Tue, 11 Jun 2013 07:06:31 -0400
How funny is that?]]> Market recap: Stocks powered up and closed near session highs after the monthly jobs report painted a Goldilocks picture of steady economic growth that's slow enough for the Fed to maintain its stimulus policies. Fund clients added to positions and hedge funds closed out some bearish bets, as some of the calm that had prevailed for much of the year was restored. The dollar nosed higher and Treasury prices fell in choppy trading. http://seekingalpha.com/currents/post/1072662?source=feed#comment-19729772 19729772
But don't worry, your stops will work and you'll be able to get out......right behind the Fed.]]> Fri, 07 Jun 2013 16:45:46 -0400
But don't worry, your stops will work and you'll be able to get out......right behind the Fed.]]> MF Global Holdings' (MFGLQ.PK) trustee, Louis Freeh, yesterday stepped down and handed the job of liquidating the firm's estate to a three-member board, essentially ending the company's bankruptcy process. While the plan was approved in April, it could only go into effect when certain conditions were met, with one being that the estate would have enough money to pay its liabilities. Customers at MF Global's brokerage are expected to receive a full pay out. http://seekingalpha.com/currents/post/1064801?source=feed#comment-19625621 19625621 Wed, 05 Jun 2013 06:39:48 -0400 Wells Fargo (WFC) and Bank of America (BAC) have been ordered by Finra to pay more than $3M (not a typo) to customers who suffered losses after being steered into floating-rate funds in 2007 and 2008. Finra is also tacking on its own $2.15M fine. "As investors continue to look for yield in a low-interest rate environment ... firms need to ensure that investment recommendations are consistent with customers' investment objectives." http://seekingalpha.com/currents/post/1063341?source=feed#comment-19599381 19599381 Tue, 04 Jun 2013 12:26:07 -0400 Report from Day 1 of Bank of America's (BAC) Article 77 hearing: After several hours of pre-hearing motions - which included a request for delay from the attorney representing the "objectors group" (including AIG) - the hearing got under way. While BofA is the de facto defendant, the actual defendant is BNY Mellon (BK) - the trustee for the 530 Countrywide mortgage trusts at issue. The defendants may want quick resolution, but the Judge told the parties "we're not going to be done with this in June." http://seekingalpha.com/currents/post/1062191?source=feed#comment-19584341 19584341
Or just another paltry fine, an admission that we did nothing wrong, and life goes on (while the envelope slips under the table).]]> Tue, 04 Jun 2013 07:32:45 -0400
Or just another paltry fine, an admission that we did nothing wrong, and life goes on (while the envelope slips under the table).]]> Looking for signs that sentiment has taken a turn for the better regarding the eurozone debt crisis? Look no further than Rhode Island-based Japonica Partners, where former Goldman banker Paul Kazarian is making a tender offer for up to 10% of all outstanding Greek government bonds. While the move has understandably created some confusion in the sovereign debt market, it does give a large "Greek debt [holder] who may be sitting on a profit an ‘out’ at a set price," one analyst says. As the old saying goes: One man's trash is another man's treasure. http://seekingalpha.com/currents/post/1061411?source=feed#comment-19570441 19570441
oh......]]> Mon, 03 Jun 2013 17:03:28 -0400
oh......]]> Look for any piece of news that smacks of an improving economy to send stocks falling next week, warns CNBC's Jim Cramer. Why? Big money investors will interpret any positive economic signs as a signal that the Fed is about to pull back economic stimulus rather than risk runaway inflation. Still, he says, there may be opportunities in the pullback, particularly in the bank, tech and industrial spaces. Just says away from anything with a higher yield, like utilities and MLP's. http://seekingalpha.com/currents/post/1058771?source=feed#comment-19491161 19491161 Fri, 31 May 2013 21:04:10 -0400 CME Group fines Goldman Sachs (GS) $875K (not a typo) over its failure to "diligently supervise" a top Treasury futures trader in 2008. The trader - who now works at Morgan Stanley - will also be suspended from CME access for 10 days. As is customary, neither the trader nor Goldman admitted or denied the violations. http://seekingalpha.com/currents/post/1058431?source=feed#comment-19482481 19482481
Every time you see one of these things you realize that the financial markets are completely unregulated. It's a wild west free-for-all!]]> Fri, 31 May 2013 16:15:47 -0400
Every time you see one of these things you realize that the financial markets are completely unregulated. It's a wild west free-for-all!]]> Bank of America CEO Brian Moynihan has vowed to finally make cross-selling work, but he faces resistance from the thundering herd at Merrill Lynch. One example is a new bonus formula which puts the bank's interests at odds with those of Merrill clients. Brokers are also wary of steering customers to the bank for a mortgage only to be hit by rejections or lousy customer service. "We're going to hand (the client) over to this mortgage process and then 3 months later they hate you," says a (former) wealth manager. By the way, BAC touched a 2+ year high today. http://seekingalpha.com/currents/post/1056481?source=feed#comment-19457331 19457331 Fri, 31 May 2013 07:19:08 -0400 What do hedge funds see that Seeking Alpha readers don't? Of Goldman's list of stocks most-loved by hedge funds, two - John Malone cable plays Virgin Media (VMED) and Charter Communications (CHTR) - are barely followed by our readers, each with less than 500 Real Time Email Alerts subscribers. Another three - Hertz (HTZ), CBS, and Equinix (EQIX) - have, at best, moderate followings (1,100-1,400 subscribers). For comparison: Hess has 3.5K, GM 11.4K, JPM 23K, Google 76K, Apple 180K. While hedge funds as a whole struggle to beat the market, their top 20 holdings have done so with ease this year. http://seekingalpha.com/currents/post/1047591?source=feed#comment-19298471 19298471 Mon, 27 May 2013 15:24:57 -0400 Carmen Reinhart and Kenneth Rogoff (R&R), the Harvard economists whose research on the linkage between economic growth rates and high levels of public debt has helped inform the debate on the eurozone debt crisis and whose now famous (and largely inconsequential) spreadsheet error became an unlikely water cooler talking point, are now engaged in a full-on war of words with Paul Krugman. Essentially, Krugman claims R&R overstate the importance of the 90% debt-to-GDP threshold. R&R now accuse Krugman of using "wild hyperbole" to describe the influence of their work and call his recent behavior "spectacularly uncivil." Stay tuned. http://seekingalpha.com/currents/post/1047361?source=feed#comment-19275771 19275771
Oh, the hangover.]]> Sun, 26 May 2013 21:27:37 -0400
Oh, the hangover.]]> Shares of Monster Beverage (MNST +3.3%) get a boost of energy from a BMO upgrade to Outperform. The firm doesn't beat around the bush on Monster, saying ""incessant negative media coverage...has created a compelling entry point." http://seekingalpha.com/currents/post/1040561?source=feed#comment-19118631 19118631
MNST will be regulated, or at least toned down, but --just like the gun business--not regulated out of existance. Lobbying (campaign contributions) is a powerful tool.]]> Wed, 22 May 2013 11:09:35 -0400
MNST will be regulated, or at least toned down, but --just like the gun business--not regulated out of existance. Lobbying (campaign contributions) is a powerful tool.]]> Loopholes allowed Apple (AAPL) to avoid $44B in U.S. taxes from 2009-2012, claims a Senate report released shortly after Apple's official statement. Though peers have also been accused of using offshore havens, the report argues Apple went further by creating a subsidiary (responsible for ~1/3 of profits from 2009-11) that used differences in U.S. and Irish law to have no residence whatsoever. Sen. Carl Levin calls this "the Holy Grail of tax avoidance." Also, while Apple claims $6B in FY12 federal tax payments, the report claims the real number is $2.4B if one backs out deferred payments on foreign cash (only paid if/when the cash is repatriated). http://seekingalpha.com/currents/post/1036491?source=feed#comment-19053591 19053591
It is real simple to resolve, but personally painful to Congress, so they will never acede to it. You simply eliminate ANY form of lobbying and campaign funding by corporations or individuals above a certain threshhold, and in totality; and you have Congress eat their own coooking--inlcuding taxes, pension and health care. We would have certain reform by sunrise. But sadly, it will never happen because guys like Levin have gotten filthy (of the dirtiest kind) rich off the current system.]]> Mon, 20 May 2013 21:35:45 -0400
It is real simple to resolve, but personally painful to Congress, so they will never acede to it. You simply eliminate ANY form of lobbying and campaign funding by corporations or individuals above a certain threshhold, and in totality; and you have Congress eat their own coooking--inlcuding taxes, pension and health care. We would have certain reform by sunrise. But sadly, it will never happen because guys like Levin have gotten filthy (of the dirtiest kind) rich off the current system.]]> Cabot Oil & Gas (COG) says it is using natural gas to fracture wells in the Marcellus shale via dual-fuel technology in a process that can displace as much as 70% of the diesel fuel traditionally used to operate fracking equipment, a first for the area. COG says the goals of its dual-fuel projects are to reduce air emissions and truck traffic, as well as cut costs. http://seekingalpha.com/currents/post/1036411?source=feed#comment-19047851 19047851 Mon, 20 May 2013 18:30:38 -0400 Ben Bernanke may not have overtly mentioned monetary policy during prepared remarks for a commencement address at Bard College Saturday, but he did reference Yogi Berra, and in the process made a statement that those of a cynical persuasion might say could have been pulled not only from the quips of a baseball legend, but from any recent speech by hawkish regional Fed presidents (I, II, III): "It's tough to make predictions, especially about the future." Some would undoubtedly say the Chairman should consider this sage advice when making conjectures about the supposedly benign effects of policy tightening. http://seekingalpha.com/currents/post/1034021?source=feed#comment-19001771 19001771
What is difficult to predict is when this will occur. We now even have some pudits suggesting that the "qantitative " will run out before the 'easing'. Regardless, the effect of no more rain will produce the same outcome.]]> Sun, 19 May 2013 14:54:55 -0400
What is difficult to predict is when this will occur. We now even have some pudits suggesting that the "qantitative " will run out before the 'easing'. Regardless, the effect of no more rain will produce the same outcome.]]> Shares of Tesla Motors (TSLA) rip 12.9% higher premarket to $95.75 after the company files its mixed shelf and Elon Musk pours in some more capital. Reality check: Tesla now trades with a market cap just under 20% of Ford's valuation while selling only a fraction of the cars Ford sells indicating investors are betting either Tesla will become a "major" automaker or claim the highest margins in the industry. http://seekingalpha.com/currents/post/1029161?source=feed#comment-18889951 18889951
What's it worth five years from now? Struggles to turn a modest profit? Shares will be trading for five bucks or so.

But for now, it is all laughs and giggles.

BTW, i am VERY pleased that someone finally put together a decent electric automobile. Why Ford, GM or Toyota couldn't do this on a scale which pleased the broad market is another of those incredible mysteries of which life seems to be littered.]]> Thu, 16 May 2013 08:32:45 -0400
What's it worth five years from now? Struggles to turn a modest profit? Shares will be trading for five bucks or so.

But for now, it is all laughs and giggles.

BTW, i am VERY pleased that someone finally put together a decent electric automobile. Why Ford, GM or Toyota couldn't do this on a scale which pleased the broad market is another of those incredible mysteries of which life seems to be littered.]]> Citigroup (C) joins AIG in the hedge fund hotel (Apple was kicked out in late 2012/early 2013), with this week's 13F filings showing a number of well-known funds adding or initiating positions in Q1 (though Tepper's Appaloosa pared his). The stock's up 40% since Michael Corbat took the reins from Vikram Pandit and hit another 52-week high yesterday. http://seekingalpha.com/currents/post/1028981?source=feed#comment-18888451 18888451
Didn't there used to be something called the SEC which frowned on this sort of pump and dump stuff?]]> Thu, 16 May 2013 07:49:31 -0400
Didn't there used to be something called the SEC which frowned on this sort of pump and dump stuff?]]> Market recap: Why do people listen to David Tepper? Because he's often right. His appearance on CNBC this morning to share his bullish views set the table for today's rally, led by big banks including BofA and AmEx. However, techs lagged after Apple sold off on no apparent news. Nymex crude ended below $95 as the IEA detailed a "supply shock"; gold fell to a three-week low at $1,424.50. http://seekingalpha.com/currents/post/1024802?source=feed#comment-18824732 18824732
What he didn't say in the fine print is that his math means the already insurmountable deficit increases by $200 billion each period. And he didn't say what happens when the $85 billion/month infusion winds down......

That is the key question, I can keep a leaky ballon up for a LONG time as long as i keep adding helium. It is inevtiable, unless i fix the leak (which Congress has not even remotely considered the idea) that the balloon wil deflate once i stop adding helium.

Ditto BB, the punch bowl, and the market.]]> Tue, 14 May 2013 17:09:44 -0400
What he didn't say in the fine print is that his math means the already insurmountable deficit increases by $200 billion each period. And he didn't say what happens when the $85 billion/month infusion winds down......

That is the key question, I can keep a leaky ballon up for a LONG time as long as i keep adding helium. It is inevtiable, unless i fix the leak (which Congress has not even remotely considered the idea) that the balloon wil deflate once i stop adding helium.

Ditto BB, the punch bowl, and the market.]]> Tepper stays bullish. Confounding gnomes who whispered the hedge fund honcho was turning cautious on stocks, David Tepper tells the CNBC crew the wave of liquidity that turned him bullish in the first place is getting even bigger. Fed tapering? So what, he says. The U.S. budget deficit over the next 6 months will only be $100B, while the Fed is scheduled to buy about $500B. That's $400B coming out of the bond market and going to investors who can buy more fixed-income, more real estate, more stocks. SPY erases losses and gets back to flat premarket. http://seekingalpha.com/currents/post/1023101?source=feed#comment-18802961 18802961
Certainly with equity prices fueling the wealth effect, preserving retirement plans for the greast unwashed, and saving corporate america in the face of declining sales, there would be no reason for the Fed to be concerned with the stock market.

Would there?]]> Tue, 14 May 2013 08:46:27 -0400
Certainly with equity prices fueling the wealth effect, preserving retirement plans for the greast unwashed, and saving corporate america in the face of declining sales, there would be no reason for the Fed to be concerned with the stock market.

Would there?]]> More from Tepper: "We're going to get this hyper-drive market," unless the Fed starts tapering its purchases, he says (referencing 1999), adding the June meeting wouldn't be a bad time to get started. He pulls out this chart from a recent FRBNY report, showing stocks remain cheap - the equity premium to bonds is as high as it's been in the last 50 years. http://seekingalpha.com/currents/post/1023151?source=feed#comment-18802771 18802771
However, what happens when the Fed can no longer, for a variety of structural reasons, buy $500 Billion of debt every six months? The flip side of Teppers hypothesis is that, in his rosy case scenario of $400/$100 billion, is that the $100 billion gets added to an already game changing Federal Debt approaching $20 Trillion.

THAT sort of deficit has never bade well for any economy. What was the expression, we have the 'known knowns, the known unkowns...and then there are the unknown unknowns'. That is the frightening part.]]> Tue, 14 May 2013 08:40:14 -0400
However, what happens when the Fed can no longer, for a variety of structural reasons, buy $500 Billion of debt every six months? The flip side of Teppers hypothesis is that, in his rosy case scenario of $400/$100 billion, is that the $100 billion gets added to an already game changing Federal Debt approaching $20 Trillion.

THAT sort of deficit has never bade well for any economy. What was the expression, we have the 'known knowns, the known unkowns...and then there are the unknown unknowns'. That is the frightening part.]]> Jamie Dimon is threatening to leave JPMorgan (JPM) if stripped of the Chairman role, sources say. http://seekingalpha.com/currents/post/1019911?source=feed#comment-18718171 18718171
There were guys like Jack Welch, Sandy Weill, and that guy from AIG who drove great companies into the ground--all the while they got folks to think they were the greatest managers ever to walk across the face of the earth. Turns out they took an entire economy down the drain, while they made themselevs filthy rich.

Too many little things..and not so little, really, are starting to pop up under Dimon's watch. This guy could turn out to be just as evil as the guys which society previously lauded as having been 'great managers'. Dimon comes across as being very believable and sincere...the old Warren Buffet 'aw shucks', but then we have the London Whale, the commodity trading, the gold puke, the silver corner...and????? You don't just lose billions and get away with saying it was just small peanuts and i was too busy with other things.

If i was the board and my management made a threat like Dimon has supposedly just made, i think his office would be empty on Monday. Nobody is THAT good.]]> Sat, 11 May 2013 18:21:05 -0400
There were guys like Jack Welch, Sandy Weill, and that guy from AIG who drove great companies into the ground--all the while they got folks to think they were the greatest managers ever to walk across the face of the earth. Turns out they took an entire economy down the drain, while they made themselevs filthy rich.

Too many little things..and not so little, really, are starting to pop up under Dimon's watch. This guy could turn out to be just as evil as the guys which society previously lauded as having been 'great managers'. Dimon comes across as being very believable and sincere...the old Warren Buffet 'aw shucks', but then we have the London Whale, the commodity trading, the gold puke, the silver corner...and????? You don't just lose billions and get away with saying it was just small peanuts and i was too busy with other things.

If i was the board and my management made a threat like Dimon has supposedly just made, i think his office would be empty on Monday. Nobody is THAT good.]]> Chipotle (CMG) dips in the post session, giving back most of the day's gains after hedge fund manager Jeff Gundlach repeated his short thesis on the company during his presentation today at the Ira Sohn Conference. “All you need to compete with CMG’s core business is a taco truck,” he quips. In fact, Gundlach takes it a step further, saying he's not interested in virtually "anything related to middle-class consumer discretionary income.” http://seekingalpha.com/currents/post/1011831?source=feed#comment-18603021 18603021 Wed, 08 May 2013 20:08:21 -0400