Trader Joe Posted April 21, 2009 Report Share Posted April 21, 2009 Who are Asensio and Manuel A and why should anyone care? Pretty famous short seller....tries to find companies with fraudulent accounting, business plans or ponzi-like operations....very impressive track record. http://www.asensio.com/ Link to comment Share on other sites More sharing options...
Trader Joe Posted April 21, 2009 Report Share Posted April 21, 2009 Trader Joe Neil Barofsky Link to comment Share on other sites More sharing options...
Jorma Posted April 21, 2009 Report Share Posted April 21, 2009 Another great one from Zero Hedge. For TJ. Topic: REIT stock offerings. "Affiliates of Merrill Lynch, Pierce, Fenner & Smith Incorporated, J.P. Morgan Securities Inc., Wachovia Capital Markets, LLC, BBVA Securities, Inc., and J.J.B. Hilliard, W.L. Lyons, LLC are lenders under our unsecured credit facility and will receive a share of the net proceeds from this offering used to repay borrowings under the credit facility proportionate to their respective commitments under the facility." How much longer will banks keep offloading their REIT credit exposure to unwitting equity investors? Yes, the i's are dotted with this terrific one sentence disclaimer, however we don't get it. If these companies are such great and worthwhile investment prospects, why are banks rushing to offload their credit exposure, which by the way is the least risky part of the capital structure, while investors are buying equity to pay down the banks credit exposure, and taking on the first-loss risk in the balance sheet? The use of proceeds in every single REIT follow-on offering has been to pay back the banks that have underwritten it. Is it that complicated to see this for the bait-and-switch it is? http://zerohedge.blogspot.com/2009/04/open...wall.html#links Link to comment Share on other sites More sharing options...
shorty Posted April 21, 2009 Report Share Posted April 21, 2009 Sick n tired of being sick n tired of the insatia-bools and the incessant late day fundie buying. Never mind: 4% down, then 1.5% up Newly minted Monday-bears in squeezy territory Friday minted-bears are still comfortably ensconced by the fire puffin a cigar. (Up to Down Volume ratio was almost 7 to 1 today. Third highest so far this month, nothing too spectacular. Yesterday was down vol 25 to 1 in the bears favor.) aGreed, most of the fraudexes turday merely retraced 40-something percent of yesturday's decline Link to comment Share on other sites More sharing options...
Trader Joe Posted April 21, 2009 Report Share Posted April 21, 2009 Another great one from Zero Hedge. For TJ. Topic: REIT stock offerings. "Affiliates of Merrill Lynch, Pierce, Fenner & Smith Incorporated, J.P. Morgan Securities Inc., Wachovia Capital Markets, LLC, BBVA Securities, Inc., and J.J.B. Hilliard, W.L. Lyons, LLC are lenders under our unsecured credit facility and will receive a share of the net proceeds from this offering used to repay borrowings under the credit facility proportionate to their respective commitments under the facility." How much longer will banks keep offloading their REIT credit exposure to unwitting equity investors? Yes, the i's are dotted with this terrific one sentence disclaimer, however we don't get it. If these companies are such great and worthwhile investment prospects, why are banks rushing to offload their credit exposure, which by the way is the least risky part of the capital structure, while investors are buying equity to pay down the banks credit exposure, and taking on the first-loss risk in the balance sheet? The use of proceeds in every single REIT follow-on offering has been to pay back the banks that have underwritten it. Is it that complicated to see this for the bait-and-switch it is? http://zerohedge.blogspot.com/2009/04/open...wall.html#links Good find....and right on the mark....Zero Hedge is really coming out with some good stuff....plus I think they were mentioned in Alan Ablesen's column this weekend.....which is, incidentally, the way I found "The Stool" several years ago....via a mention by Albesen Link to comment Share on other sites More sharing options...
Jorma Posted April 21, 2009 Report Share Posted April 21, 2009 Good find....and right on the mark....Zero Hedge is really coming out with some good stuff....plus I think they were mentioned in Alan Ablesen's column this weekend.....which is, incidentally, the way I found "The Stool" several years ago....via a mention by Albesen Sheeesh. Ablesen is still around? He used to be the best thing about Barrons. Then he became the only good thing about Barrons as they went to the dark side around 92 as I recall, even if their editorial policy was always stuck somewhere around 1928, but you could ignore it, just like the WSJ. Long before I knew anything, when the Epstein guy came on board I would read him and my gut would clench. Not knowing why exactly and I don't recall any specifics now. I have not picked up a Barrons in 15 years. Link to comment Share on other sites More sharing options...
mdporter Posted April 21, 2009 Report Share Posted April 21, 2009 Well, there ya go. The Administration needs to come out and just tell the goddamned truth so that we can get on with it. Watching Geithner's performance today made me sick. They are a pack of liars and will never tell the truth about anything. That's why Turbo Timmy and Larry Summers are in there in the first place. Summers helped cause it all while Turbo spends all his time covering for his New York City buddies. Link to comment Share on other sites More sharing options...
Trader Joe Posted April 21, 2009 Report Share Posted April 21, 2009 Shorty's mama.... Link to comment Share on other sites More sharing options...
mdporter Posted April 21, 2009 Report Share Posted April 21, 2009 Oops, more chop chops at Yahooooo.... NEW YORK (CNNMoney.com) -- Editor's note: This story contains profanity. Internet search company Yahoo Inc. announced Tuesday that it would slash 5% of its workforce, as it reported a first-quarter profit that fell sharply from a year earlier but still managed to beat Wall Street's forecasts. Shares of Yahoo (YHOO, Fortune 500) rose more than 5% after hours. The company's layoffs will affect about 675 employees, according to the company. Yahoo said those being affected in this latest round of cuts would be notified within the next two weeks. Last year, the company cut about 700 jobs on a net basis. No Yahoo for Youhoo Link to comment Share on other sites More sharing options...
DrStool Posted April 21, 2009 Report Share Posted April 21, 2009 The thing about "volatility" is that it has a "feel" to it that can have a different result to it than the actual calculation of it. One way to measure stock price volatility is with the standard deviation of change, or Bollinger bands. This is different than Implied Volatility, or VIX, which is a measure of risk built into options prices. Standard deviation measures the average move, aka deviation, from the average price, hence the term Standard Deviation. Here's a chart of the 1 standard deviation for the SPX for the last 3 years based upon trailing 5 day prices. By this calculation, price volatility has recently returned to where it was, more or less, before the "Mad Max" period in October/November of last year. So, by this measure, recent price volatility is down from late last year, but only back to where it was before. I think of volatility as the percentage of price change. When the market is swinging 3-5% per day every day, then that's one standard deviation. A couple years ago one standard deviation may have been 1%, so that even though the market still is covering one standard dev today, its volatility is much greater. Link to comment Share on other sites More sharing options...
jickiss Posted April 22, 2009 Report Share Posted April 22, 2009 jickiss is back! jickiss is back! and in line with what Doc said, take a good look at the Volatiltiy (large % swings) in the Secret jickiss doolar-gold Indicator, which is never wrong. use your imaginations, and imagine that a Triple Top will be in place by the end of the Triple Crown..... and then, and then, and then????????????? phat??? Link to comment Share on other sites More sharing options...
DrStool Posted April 22, 2009 Report Share Posted April 22, 2009 Barrons is a piece of shit, especially now that Murdoch controls it too. But it is still influential. The guy that took over Abelson's column, Randall Forsyth? isn't bad from the bits and pieces I've seen of his work. Link to comment Share on other sites More sharing options...
Jetlag Posted April 22, 2009 Report Share Posted April 22, 2009 It must have been lots of fun down at Shitty's bagholders meeting: "Five hours and dozens of angry speakers into Citigroup Inc.'s annual meeting Tuesday, a long line of shareholders still waited at the microphone for their chance to vent." "When Chairman Richard Parsons recognized five departing members of the board, a cry rose from the audience: "Thank God, you've gone!"" "Shareholders -- many in suits, a few in baseball hats and jean jackets, and one in a bedazzled red satin cap -- brought up other issues, too, questioning Citigroup's underwriting standards for credit cards and the government's involvement in the bank." "Other shareholders called the board "Byzantine," "communist" and "socialist."" "...said it is ridiculous that a board composed of CEOs and former CEOs gets a say in Citigroup executives' compensation while shareholders do not. "It's like having the Yankees determine the salary of the Mets," he said." "When a shareholder asked if any U.S. government representatives were in attendance, he said to laughter from the audience: "If they're foolish, they can raise their hand."" This poor guy has got it all backwards: ""How many of these directors," Jones asked, "bought Citi at a dollar a share?"" Directors don't put their money at stake into the company they run (sometimes into the ground), they take! and then they take some more. "Shareholders also questioned whether the company had enough money to pass the government's stress test and why, if it did have enough capital, Citigroup was diluting it common stock by converting the government's investment into common shares." http://finance.yahoo.com/news/Citi-shareho...set=&ccode= A bit of a corporate governance problem, there simply is none. Link to comment Share on other sites More sharing options...
Trader Joe Posted April 22, 2009 Report Share Posted April 22, 2009 Sheeesh. Ablesen is still around? He used to be the best thing about Barrons. Then he became the only good thing about Barrons as they went to the dark side around 92 as I recall, even if their editorial policy was always stuck somewhere around 1928, but you could ignore it, just like the WSJ. Long before I knew anything, when the Epstein guy came on board I would read him and my gut would clench. Not knowing why exactly and I don't recall any specifics now. I have not picked up a Barrons in 15 years. I used to read it online for free at work for many years....was able to read most of it Then when I retired I subscribed to the paper copy with its 5,000 pages of "data" -- what a POS Then I did the online version until last year and finally gave up Barron's "Yesterday's News, Today!" The good news is that Ablesen is FREE on barrons.com each week, which is the only thing that I found any value in -- albeit, little value Link to comment Share on other sites More sharing options...
Trader Joe Posted April 22, 2009 Report Share Posted April 22, 2009 It must have been lots of fun down at Shitty's bagholders meeting: "Five hours and dozens of angry speakers into Citigroup Inc.'s annual meeting Tuesday, a long line of shareholders still waited at the microphone for their chance to vent." "When Chairman Richard Parsons recognized five departing members of the board, a cry rose from the audience: "Thank God, you've gone!"" I actually know Citi director Mike Armstrong.....he's one of the dumbest mother-F***ers on the planet P.S. -- God damn that chick in the pic is funny......I'm still laughing "Yes, mam.....please ask your question" "Ba Ba Ba Ba Ba Ba......" Link to comment Share on other sites More sharing options...
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