beardrech Posted August 10, 2007 Report Share Posted August 10, 2007 Aug. 10 (Bloomberg) -- Goldman Sachs Group Inc.'s $8 billion Global Alpha hedge fund has fallen 26 percent so far this year, according to people familiar with the fund. The decline in Goldman's largest hedge fund, managed by Mark Carhart and Raymond Iwanowski, follows the drop of about 9 percent in 2006, said the people, who declined to be named because the fund is private. http://www.bloomberg.com/apps/news?pid=206...ZmHQ&refer=home 598645[/snapback] This is a perfect illustration in that we all occupy a psychosexual economic plenum where everybody touches everybody else..."and that if some of us insist on going out with poxed women or men, the rest of us will also wind up with finacial syphilis.." Above quote Courtesy of the US Health and Treasury department---your government at work beardrech Do not vote at the next election; it only encourages them Link to comment Share on other sites More sharing options...
Private Skidmark Posted August 10, 2007 Report Share Posted August 10, 2007 I don't think it is normal. Cashier's check used to mean something. I bet Doc is correct, and the orgy of FCB money splashing into markets the last few days, is pushing on a string. Where did it go? Hundreds of Billions around the world. One for the books. 598666[/snapback] That they might have been verifying the check hadn't occurred to me, but that could have been it. I wondered if it meant they just didn't have the cash on hand. Link to comment Share on other sites More sharing options...
elh Posted August 10, 2007 Report Share Posted August 10, 2007 The charts aren't giving me a clue, but I suspect that a liquidity crisis would be bad for the dollar. Here's my reasoning. You'd normally think dollar destruction would increase dollar value. But really, what's probably going to happen is all currencies will see volume destruction because of the local currency collateral that is based on the US paper collateral. In such an environment, the US is a net debtor company. A liquidity crisis will force most people to repatriate their currency, which would smack the dollar. Link to comment Share on other sites More sharing options...
mdporter Posted August 10, 2007 Report Share Posted August 10, 2007 I had a client who was having $20k cash bail posted for her this week by a bondsman. The bondsman received a $20k cashier's check and took it to his bank on Monday to get cash to take to the jail. His bank, Wells Fargo, I think, told him to come back on Wednesday for the cash. Don't know if this is unusual. 598664[/snapback] If he was asking for hard greenbacks this is because most banks keep $5k or less on hand. I have read numerous tales of people attempting to get a few thousand and having the bank refuse. Under pressure the bank admits that they don't have enough on hand to satisfy the request. Link to comment Share on other sites More sharing options...
Speakeasy Posted August 10, 2007 Report Share Posted August 10, 2007 Last one, I gotta get outta here. There was some excitement today, perhaps you missed it, I did. The yield curve lurched open wider. Link to comment Share on other sites More sharing options...
Jetlag Posted August 10, 2007 Report Share Posted August 10, 2007 Not yet: Link to comment Share on other sites More sharing options...
try2win Posted August 10, 2007 Report Share Posted August 10, 2007 Seriously people, scalping this thing is gonna be a bitch.? The pinball action on tons of small stocks is just dizzying.? I'll post a few here. Advice? - Time. - Limit Risk. - Do it when you're most scared to go short. Best. 598648[/snapback] Agreed. Here's another one... 598656[/snapback] i actually bought some swc right before the close ... Link to comment Share on other sites More sharing options...
mdporter Posted August 10, 2007 Report Share Posted August 10, 2007 I keep reading about the "lack of liquidity". But isn't the real problem the worthless MBS paper? There is plenty of money around, it's just that no one wants to buy the toxic crap now that its crappy nature has finally been acknowledged. The boyz are looking for the easy solution... rate cuts, repos, free money, liar loans, and no responsibility for their actions. The real solution is a return to sound banking. Reprice all the total garbage. Reinstitute bank reserve requirements, sound underwriting practices, downpayments, etc. Do real, honest work. No more cheap loans to the Casey Serins and McTrumps of the world, looking to use OPM to buy houses like trading cards. Of course doing that would mean years of misery, millions of jobs lost as all the finance schemes unravel, and the end of life as we know it. Link to comment Share on other sites More sharing options...
Jetlag Posted August 10, 2007 Report Share Posted August 10, 2007 I had a client who was having $20k cash bail posted for her this week by a bondsman. The bondsman received a $20k cashier's check and took it to his bank on Monday to get cash to take to the jail. His bank, Wells Fargo, I think, told him to come back on Wednesday for the cash. Don't know if this is unusual. 598664[/snapback] If he was asking for hard greenbacks this is because most banks keep $5k or less on hand. I have read numerous tales of people attempting to get a few thousand and having the bank refuse. Under pressure the bank admits that they don't have enough on hand to satisfy the request. 598672[/snapback] 5k? How can that be!? ATM probably has more much more than 5k. Link to comment Share on other sites More sharing options...
elh Posted August 10, 2007 Report Share Posted August 10, 2007 I keep reading about the "lack of liquidity". But isn't the real problem the worthless MBS paper? There is plenty of money around, it's just that no one wants to buy the toxic crap now that its crappy nature has finally been acknowledged. The boyz are looking for the easy solution... rate cuts, repos, free money, liar loans, and no responsibility for their actions. The real solution is a return to sound banking. Reprice all the total garbage. Reinstitute bank reserve requirements, sound underwriting practices, downpayments, etc. Do real, honest work. No more cheap loans to the Casey Serins and McTrumps of the world, looking to use OPM to buy houses like trading cards. Of course doing that would mean years of misery, millions of jobs lost as all the finance schemes unravel, and the end of life as we know it. 598676[/snapback] Such a solution would require 'dem bums to loser power. Central Bankers. Bilderbergs. Pigmen. Congress. Link to comment Share on other sites More sharing options...
mdporter Posted August 10, 2007 Report Share Posted August 10, 2007 What happened to our jickiss? He hasn't been around in weeks! Link to comment Share on other sites More sharing options...
try2win Posted August 10, 2007 Report Share Posted August 10, 2007 What happened to our jickiss? He hasn't been around in weeks! 598679[/snapback] probably sold his IBM and has been on vacation Link to comment Share on other sites More sharing options...
mdporter Posted August 10, 2007 Report Share Posted August 10, 2007 CCJ. I almost put in a stop at 38 last night, but I decided not to. It would have been run. Link to comment Share on other sites More sharing options...
mdporter Posted August 10, 2007 Report Share Posted August 10, 2007 Apple coming back down to earth. Link to comment Share on other sites More sharing options...
Private Skidmark Posted August 10, 2007 Report Share Posted August 10, 2007 What happened to our jickiss? He hasn't been around in weeks! 598679[/snapback] probably sold his IBM and has been on vacation 598680[/snapback] And if he went short GS like he kept talking about, it'll probably be a long one. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.