Madame Wrecked Him Posted February 19, 2003 Report Share Posted February 19, 2003 Apologies if this was already posted last week (I was out of town), but this was a good piece showing stock options are embezzlement: http://www.financialsense.com/editorials/p...icks/020703.htm I hadn't seen the article until today. Thanks for posting it. The part Picks didn't address was the flagrant hypocrisy of companies being able to deduct options as an expense, all the way claiming they are not a real expense for accounting purposes. Such a scam. I have noticed that the subject of employee options is remarkably quiet at the moment. Even the dividend tax issue is bigger than the options issue, at least it appears so according to the mainstream media. And yet the employee options issue is, IMO at the very root of the whole issue we have with the market. Resolve employee options accounting (yeah right), and IMO the bear market's days are numbered. MWH Link to comment Share on other sites More sharing options...
soup Posted February 20, 2003 Report Share Posted February 20, 2003 Machine: good question. One other event needs to take place ( along with somany already mentioned) before this bear mkt ends; someone from Fido goes to jail, or is at least subeanoed? Link to comment Share on other sites More sharing options...
Guest Posted February 20, 2003 Report Share Posted February 20, 2003 "Joseph Mansueto, Morningstar's chief executive officer ... added that the 'Fidelity favorites' were selected by Morningstar Associates L.L.C., an investment-consulting subsidiary with researchers separate from Morningstar Inc., which conducts the star ratings." - from article linked by Tig ol' Bitties That's like corporate ladder-climbers who claim they "graduated from Harvard." Then you find out they attended a two-week "executive education" seminar there, to supplement their junior college diploma. Aren't we getting tired of a society where even after you carefully read the fine print, it's still hard to figure out what the scam is? Don't they call the cashiers at K-Mart or Wal-Mart "Sales Associates"? Link to comment Share on other sites More sharing options...
Tig 'Ol Bitties Posted February 20, 2003 Report Share Posted February 20, 2003 Dallas Fed president "just says no" to interest rate increases... "I'm not ready to tighten (interest rates) until we see the economy get some footing," McTeer added. McTeer: No Rate Rise Until Economy Firms Link to comment Share on other sites More sharing options...
Tig 'Ol Bitties Posted February 20, 2003 Report Share Posted February 20, 2003 I hope he is ready for a long wait.... Link to comment Share on other sites More sharing options...
brian4 Posted February 20, 2003 Report Share Posted February 20, 2003 Verry interesting day! My ladder is in place from 890 to 800 SPX puts every 10 points. The decline today was not impulsive looked and smelled like consolidation. Everyone and their Dog is yelling for a move to 869-870 in the SPOO's and then whammo-CRASH! Well when everyone is pointing one way-I get real NERVOUS-LOU could be right it could go straight down from here catching most by surprise but barring WAR or an INCIDENT there should (I say should) be some more upside. However today thru Monday is a fib turn window so maybe we see spike up then DOWN-so many freakin crosscurrents! Britain followed Canada today and ordered all their citizen's out of the Gulf and my Military contacts tell me the wind is up-so I agree with Lou this thing is going to blow-I expect on the weekend. Regarding OP/EX most of the squeezing and jamming required is over at the close today so the stage is set and TOMORROW will tell us wether we move higher first or crap out from here either way the BIG MOVE is DEAD AHEAD! Trade Safe! Link to comment Share on other sites More sharing options...
EasyAl Posted February 20, 2003 Report Share Posted February 20, 2003 I hope he is ready for a long wait.... You know what, Mr. New Economy McTeer perhaps will be the next Chairman of Federal Reserve. Link to comment Share on other sites More sharing options...
maximummark Posted February 20, 2003 Report Share Posted February 20, 2003 The bastids...SEC planning short-seller clampdown, FT link: http://news.ft.com/servlet/ContentServer?p...p=1012571727088 Don't underestimate 'em...counting in-ground gold as "deep storage", controlling both ends of the yield curve, etc. Link to comment Share on other sites More sharing options...
Guest Posted February 20, 2003 Report Share Posted February 20, 2003 This link from Roger Arnold in his Daily Observations to a lengthy (57 page) on "Credit Risk Transfer" (CRT) by the Working Group on Credit Risk Transfer. Something Mark has been warning us about. http://www.riskcenter.com/pdf/6160.pdf Excerpts: "The remainder of the Report (Sections V, VI and VII) identifies and analyses some possible implications of the evolution of CRT markets for the overall functioning of the financial system and discusses some of the concerns which have been expressed about the impact of CRT on financial stability." "The Report analyses these changes in terms of potential market failures, for example asymmetric information, principal/agent problems and incomplete contracts." Pretty heavy read, and I am only 1/3 through it. Link to comment Share on other sites More sharing options...
buttugly Posted February 20, 2003 Report Share Posted February 20, 2003 Dr B's post last night on the Japanese market was frightening. The Nikkei rallied from 12,787 to 20,833 during the Japanese bear market. However you have got to remember that this didn't occur until the Nikkei had lost 67% of it's value from 38,915 to 12,787. On the S&P500 we would need to be at around 510. The Japanese bear market did have an earlier bear market rally from October 90 to March 1991. But this got smoked once Tokyo land prices started heading south. I think our market is on the verge of a big down leg - once our property market rolls over (refer Hypertiger's chart last night). Link to comment Share on other sites More sharing options...
PileDriver Posted February 20, 2003 Report Share Posted February 20, 2003 Market Forecast (speakers on) Link to comment Share on other sites More sharing options...
wndysrf Posted February 20, 2003 Author Report Share Posted February 20, 2003 Gold just busted through $350 again. Now $351+ The correction might be over. Link to comment Share on other sites More sharing options...
Guest alex Posted February 20, 2003 Report Share Posted February 20, 2003 fxfox wrote: Mark, you are a genious! Ditto. You should get an agent. A weekly "Mark-to-Market" TV series would be a huge hit. Doc can do walk-on cameos. Link to comment Share on other sites More sharing options...
brian4 Posted February 20, 2003 Report Share Posted February 20, 2003 Hmmmmm! Gold is up-the NIKKEI is getting ripped-Australia is getting ripped-Hmmmmm! Trade Safe! Link to comment Share on other sites More sharing options...
Mr. Beal Posted February 20, 2003 Report Share Posted February 20, 2003 Hmmmmm! Gold is up-the NIKKEI is getting ripped-Australia is getting ripped-Hmmmmm! Trade Safe! Yeah but the AH in the Q's and SPY is on its highs? There are a bunch of numbers due before the open and something tells me the words out. Link to comment Share on other sites More sharing options...
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