wndysrf Posted February 11, 2005 Report Share Posted February 11, 2005 Anybody see that new ad on page A11 in the WSJ today??? Citibank's Private Banking division now has an "Art Advisory Service", to assist its clients in its "Wealth Management" divisions on how to acquire art, claiming it as a new "asset class" Featured is Mary Hoeveler, Managing Director, Art Advisory Service. She's pretty young and hot looking, so odds are high that her current marital situation or relationship with that "significant other" is about to come to an end. Why is that? Because no doubt, most big money professionals will stop at nothing in order to attempt to seduce her. "Hey, I run a HedgeFund, with billions under management, and you are about 10 years younger than my current girlfriend, and a lot better looking. I'd like you to contact my attorney regarding a Buyout Contract for your current lover........." "Sorry, I'm not interested. Can I interest you in some art?" "Maybe. I'd like to acquire something unusual. For my 16,000 sq. ft. home at The Hamptons." "Whoa!!! 16,000 sq. ft.??? What was the name of that attorney again?" ..................................................... Anybody see that full page ad taken out last week by UBS Wartburg? You know, the one that offered congratulations to all the employees who were promoted to "Managing Director". There were over 150 names on the list. More than 2/3 had the title: "Managing Director, Wealth Management and Investments" These high end I-Banks are exploding with growth in the Wealth Management area. Can you blame them? With a 100 new HedgeFunds forming every 3 months, that's a new round of "Permanent Equity" funnelled into one of these Hotel California Funds, where the money cannot be withdrawn. No doubt, 90% of this "Wealth Management Advisory" business is just managing the huge fees being skimmed off from these HedgeFunds, proceeds of which are used to buy luxury goods, collectible art, more real estate, and more Emerging Market securities. In a nutshell, its just a closed circuit population of traders and managers of over 9000 HedgeFunds buying and selling "financial services" to each other. "Hey, I'll buy that painting if you refer someone who can put $2 million into my HedgeFund." "Hey, I just refinanced my $8 million vacation home in The Hamptons with Merrill Lynch, who in turn rewarded me by taking $1 million of my cash out proceeds to invest in their Preferred Proprietary Trading Fund." "Hey, I just scored huge by buying puts on ANTP at $50 and now its trading at $20. How about referring me to your Wealth Manager so she can put me into the latest Curve Flattening Arbitrage Fund?" "Wow, all of us on Wall Struck are getting rich. How about having dinner with me at that new restaurant in Midtown? I hear that the entrees start at $250...." Link to comment Share on other sites More sharing options...
Guest Posted February 11, 2005 Report Share Posted February 11, 2005 ... "Hey, I run a HedgeFund, with billions under management, and you are about 10 years younger than my current girlfriend, and a lot better looking. I'd like you to contact my attorney regarding a Buyout Contract for your current lover........." "Sorry, I'm not interested. Can I interest you in some art?" "Maybe. I'd like to acquire something unusual. For my 16,000 sq. ft. home at The Hamptons." "Whoa!!! 16,000 sq. ft.??? What was the name of that attorney again?" ..................................................... The 16000 square foot home in the Hamptons being what won her over is the best part ... Now that I've stopped laughing, I realize that maybe I shouldn't laugh at all. Very soon, buyout contracts for lovers will probably really exist, if they don't already ... Link to comment Share on other sites More sharing options...
Charmin Posted February 11, 2005 Report Share Posted February 11, 2005 Bulls have to get shanked once and awhile just to get better prices. If Doc is right about Monday and Tuesday with the gang and Sir Al don't come through then an upthrust of the trading range highs might be a good time to test supply...... Dow divergence noted... Link to comment Share on other sites More sharing options...
Pfubahr Posted February 11, 2005 Report Share Posted February 11, 2005 First real break for Housing Bears today. Smith Barney Downgraded the entire group. To Hold, which means Sell. Pretty much outta left field and a shock for the bulls Also, this AM on TODAY SHOW, Joan Corcoran, perma real estate bull and weekend stock show guest, was calling the RE market a "mega gorilla sellers market on a nationwide basis." Matt Lauer asked if she meant just NYC, which he called "crazy" with which she agreed, and corrected him saying it was "nation wide," or something like that. IOW, ALL ACROSS AMERICA!!! Buyers are crying and sellers are smiling, she said. If you want a house, don't wait and bid MORE than the asking price because if you don't someone will. Also be prepared for anywhere from 1 to 4% "hidden" fees when closing rolls around. "Mega gorilla sellers' market." Hmmmmmmm..... wonder what that means? SURELY, THIS MUST BE CLOSE TO THE TOP IF NOT THE TOP! Link to comment Share on other sites More sharing options...
fxfox Posted February 11, 2005 Report Share Posted February 11, 2005 TASR weekly well, what can I say? I'm shocked! Link to comment Share on other sites More sharing options...
FeedFool Posted February 11, 2005 Report Share Posted February 11, 2005 In which decades there was huge interest in art collection???? Anybody see that new ad on page A11 in the WSJ today??? Citibank's Private Banking division now has an "Art Advisory Service", to assist its clients in its "Wealth Management" divisions on how to acquire art, claiming it as a new "asset class" <{POST_SNAPBACK}> Link to comment Share on other sites More sharing options...
wndysrf Posted February 11, 2005 Author Report Share Posted February 11, 2005 NVLS closes decisively over its 200-day on huge volume...... Looks like the PigMen are rotating out of the HGX back into the SOX. Money never leaves the market. Link to comment Share on other sites More sharing options...
DrStool Posted February 11, 2005 Report Share Posted February 11, 2005 Pfubah- When borkers downgrade a group it means they are short and want to cover, or they have insufficient inventory and want to buy. A borker downgrade is a buy signal, not a sell signal. Link to comment Share on other sites More sharing options...
DrStool Posted February 11, 2005 Report Share Posted February 11, 2005 Don't forget Saturday Doc appears as his alter ego, Lee Adler, on the Financial Sense Newshour. Please tune in. Full 50 minute interview. (Taped Wednesday.) Link to comment Share on other sites More sharing options...
Grand Poopercycle Posted February 11, 2005 Report Share Posted February 11, 2005 Don't forget Saturday Doc appears as his alter ego, Lee Adler, on the Financial Sense Newshour. Please tune in. Full 50 minute interview. (Taped Wednesday.) <{POST_SNAPBACK}> I take it this alter-ego 'Adler' is the 98-pound, horn-rim wearing zit-addled nebbish juxtaposition to the square-jawed, chiseled pec international man of mystery we know and worship as DOCTOR STOOL!!! And that Mary H. art chick isn't that hot looking. Art collection has been a craze in many decades-even centuries- especially when lotsa easy money was/has been made by foolish, eager-to-impress folks. Link to comment Share on other sites More sharing options...
Tig 'Ol Bitties Posted February 11, 2005 Report Share Posted February 11, 2005 In which decades there was huge interest in art collection???? Anybody see that new ad on page A11 in the WSJ today??? Citibank's Private Banking division now has an "Art Advisory Service", to assist its clients in its "Wealth Management" divisions on how to acquire art, claiming it as a new "asset class" <{POST_SNAPBACK}> <{POST_SNAPBACK}> The wealthy usually transfer their liquid assests into art and higher priced collectibles and other hard assets in periods of higher than normal inflation. But Greenspan says there is no inflation so smart, wealthy people obviously have no idea what they are doing. Link to comment Share on other sites More sharing options...
Tchaikofsky Posted February 11, 2005 Report Share Posted February 11, 2005 Close: The market shrugged off early weakness and held broad-based gains into the close as a rising tide lifted most boats... Much like Wednesday's S&P futures-related sell off assigned the Nasdaq its second lowest daily performance in 2005, large S&P futures-relating buying, coupled with a unsubstantiated rumor that Kim Jong-Il was deposed in North Korea, helped light a fire under equities before noon and quickly reversed a modestly bearish bias, as all the major indices closed higher for the third week in a row... The Dow closed at its highest level in 2005 and just 72 points from a 52-week high while the S&P inched closer to breakeven for the year and the Nasdaq finished just 100 points shy of its 2004 close... Stocks were under modest pressure out of the gate, however, in the wake of Dell's (DELL 39.97 -1.60) lower than expected Q1 sales outlook; but the news became arguably more company-specific as widespread buying returned and closed virtually every sector in positive territory... Link to comment Share on other sites More sharing options...
Pfubahr Posted February 11, 2005 Report Share Posted February 11, 2005 <<When borkers downgrade a group it means they are short and want to cover, or they have insufficient inventory and want to buy. A borker downgrade is a buy signal, not a sell signal. >> Dr Stool: I'm sure you are correct and speaking of the "secret internal workings" of the specialists. However, in my experience, upgrades on actively traded stocks generally sends them flying, and downgrades generally tanks them. Upgrades and downgrades are generally as much of drivers as missing or beating earnings in my observation, all things being equal. Such was the case today on the entire home building sector. Ugly for the longs. Also, I can imagine that Smith Barney would be short the builders, but why they'd want to cover at this point would make no sense. The builders have been on an absolute tear. If you look at the monthly chart on the HGX or the DJUSHB or BZH or SPF as good examples, they all pretty much look like the left half of the Chrysler Building or Empire State Bldg, if you prefer. The longs have just recently built the high Mast and lightning rods in place, and dancing on the tip of the spire. This is about year 4 or 5 of the building process. So I'd think the big outfits would be shorting now, not wanting to go long or cover. This also occurs at a point in time when guidance has been lowered from 40 and 50% EPS growth for the last few years to 10 and 15% for this and next year. So this isn't going to endear the fundamental types either. So I assume you're meaning since the brokers are on the other side of the retail trade, hence they're accumulating inventory as the stock goes down and I sell to them. IOW, they are buying stock from the public at lower prices as the public panics on the downgrade and sells their shares. And conversely, they sell their inventory to the public at the ASK when the prices rise and the public is bullish. Surely, this is what you mean. I would post a chart or two for you that I mentioned, but I'm new and ignorant around these parts on the manipulation of smiling faces and the like. I'm doing good to just hit the REPLY button without getting ejected. Link to comment Share on other sites More sharing options...
anotherone Posted February 11, 2005 Report Share Posted February 11, 2005 In which decades there was huge interest in art collection???? Anybody see that new ad on page A11 in the WSJ today??? Citibank's Private Banking division now has an "Art Advisory Service", to assist its clients in its "Wealth Management" divisions on how to acquire art, claiming it as a new "asset class" <{POST_SNAPBACK}> <{POST_SNAPBACK}> 70's Link to comment Share on other sites More sharing options...
Guest Posted February 11, 2005 Report Share Posted February 11, 2005 Steve Jobs' latest stock grant of 5 million shares is now worth: $406 Million Link to comment Share on other sites More sharing options...
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