28JAN09:
Q1-09 DOW: 8900
Q2-09 DOW: 7250
Q3-09 DOW: 5810
Q4-09 DOW: 3960
CITI NATIONALIZED
OBAMA GETS SICK 27AUG09:
Mini Crash 21SEP09 Predicted correctly:
Bailout=Bonuses
Demise of Bear Stearns
Demise of Lehman Bros.
Demise of AIG
Subprime would cause problems
Date of 2007 crash
CRAs were to blame
G20 riots were a party
Northern Rock run
Northern Rock Nationalization
HBOS and RBS demise
UBS really was Useless
The effusiveness of Obama's victory is welcomed after the media's preoccupation with gloom and the doom over the past few months. Not wanting to be a doubting Thomas, but the expectations being put on him are truly unbelievable and the young guy who has no economic experience (another academic, and a lawyer too) will truly struggle. But for the time being we should feel warm inside while the world continues to burn at an alarming rate.
Despite the Hedge Fund industry pouring millions into the coffers of Obama's campaign pot, and I was at a fund raising bash in Greenwich a couple of years ago, the hard lobbying now takes place to ensure he preserves our industry. Of course, times have changed and the hedge fund landscape is looking rather different. Capitalism is having its way and at long last all the b-list hedge fund managers are closing down and the really good, high performance, risk managed hedge fund managers are turning into the new Goldman Sachs of old. Exciting times lay ahead. Or not. The economic news for most Westerners is getting considerably worse and for most people Christmas is cancelled.
We will of course be having 3 or 4 parties and making it clear to the rest of the world that for us it is business as usual. Shame we will have to bring a large security team with us. The hedge fund industry is turning into a closed ended private equity business model as hedge funds abandon openness and alienate their investors to protect all investors who are alienated in their funds. Nobody likes us. They never did.
So the solution is the words Hedge Funds will disappear like the phrase Investment Banks. Yes, we shall be known as Asset Managers from hence forth. That should keep Obama off our backs for a bit longer.
What are the odds that he will be a 1 term failure? Quite high meez thinks. Having lost 10 quid on McCain, I will double up on my losses.
Anyway, European Interest Rates are set to fall (goodbye inflationary concerns, hello keeping electorates at bay) and the hedge fund industry is turning into the private equity industry. Imagine being a Pirate. I never thought this would happen just as much as I never thought Obama would get in.
What a curious relationship exists between newly-elected US President Barack Obama and hedge funds.
The industry has donated over $1m to Obama's campaign, according to OpenSecrets.org (small change to a hedge fund manager, perhaps, but it still makes Obama the biggest recipient of the industry's largesse this year — and is nearly double what rival presidential candidate John McCain received).
But despite the contributions, Obama's taken a somewhat hostile stance towards the barrons of Mayfair and Stamford. Notably, he accused McCain of being the candidate of 'Joe the Hedge Fund Manager' as opposed to all-American blue-collar hero “Joe the Plumber.”
Fintag says Now the lobbying begins.
market watch says " Commentary: Investors, for now, aren't unhappy that the Democrat won "
new york post says " STOCKS PLUNGE AS INVESTORS PONDER OBAMA "
NEW YORK SALES HIT RECORD HIGHS AMID SIGNS THAT THE ART MARKET IS DROPPING
Banks may be panicking, hedge-fund managers eyeing the abyss, but - in New York, at least - there are still people willing to spend eye-watering amounts of money on art. With two major sales of impressionist and modern art at Sotheby's and Christie's, this week has been declared crunch time for the art market, which has so far done its best to ignore the tremors shaking the global economy.
But on Monday night buyers did emerge, with a major work by Kazimir Malevich, Suprematist Composition (1916), selling for $60m (£37m), and records set for paintings by Munch and Degas. Forty-five works raised $224m (£140m) in total, although few reached their estimates. "Anyone would expect people to be more circumspect in this environment," David Norman, an executive vice-president at Sotheby's, told reporters. "We're selling in a very uncertain world."
Fintag says Another bubble bursts. 10 points if you guess where this piece of art is ...
The person we can blame is this person (Nil points for guessing who designed this but 10 points if you can guess who painted it)
Barack Obama's victory is a boost in the arm for Americans, but his promise of change will take time to deliver.
There are several reasons that Barack Obama won the US presidential election. He won because the economy is shockingly bad. He won for his campaign promise of “change”. He won because - unlike John McCain - he was in no way tied to the Bush administration, which has been roundly blamed for the economic disaster in which the USA is currently mired.
Think about it: under Republican rule, wages - for those who have work (and often more than one job) - have flat-lined. The national debt has doubled from what it was when Bush took office and is fast approaching $10 trillion. Meanwhile, prices at the gas pump have skyrocketed, alongside the price of milk and eggs. Unemployment recently surpassed 6% - the highest level since the early 1990s - and approximately 47 million Americans have no health insurance. Do not even think about dwelling on mortgage defaults; unless your heart can take it, or you have sufficient health insurance, that is. No wonder 64% of America's eligible voters went to the polls.
And no wonder Obama capitalised on former Republican President Ronald Reagan's famous question to voters in 1980: “Are you better off than you were four years ago?” For most Americans in 2008, the answer is an absolute “No”. But now the president-elect faces a tougher question: Can Obama fix what ails the nation?
Fintag says No. But he will try. It depends if he sacks Paulson and Bernanke and finds a team who are capitalists. But this is unlikely and I expect to see more protectionism, lynching of the rich and propping up of ailing industries like automobiles and banks.
WELLS FARGO PLANS TO RAISE $10 BILLION IN STOCK OFFER
Wells Fargo & Co., the biggest bank on the U.S. West Coast, plans to sell $10 billion in stock to fund the purchase of Wachovia Corp. and said losses from the acquisition will be less than previously expected.
The San Francisco-based bank, which disclosed the share offering today in a statement, had said it would raise as much as $20 billion to fund the deal. That was before the Treasury said it was buying $25 billion of Wells Fargo's preferred shares, part of a rescue for the banking industry.
Fintag says Good luck. I was thinking yesterday how in the UK Barclays have tried to avoid my Hall of Shame and sought capital from the middle east. This is very bad news for the UK as its head office will move out of the UK and we will not get any of its tax revenues. So putting my socialism hat back on, the UK government should restrict foreign ownership immediately.
That is what Obama is going to. Since the questions are going to be "What would Obama do?" we should at this present moment do exactly as the mighty one does. Question you should ask is, are you a Woody or a Buzz Lightyear?
October was the worst month for world stock markets in history, according to the index provider and rating agency Standard & Poor's, as investors lost a record $5.8 trillion (€4.5 trillion) once falls were converted into dollars.
The terrible performance in October means the world's stock markets have plunged by an average 42% this year, according to the agency.
More than $16.2 trillion has been wiped off the value of shares.
Fintag says For who? Long only merchants? Short termists? Many of us thought October had the best waves ever.
financial week says " Expect 'severe' world economic downturn next year, Fitch says "
Today's economic turmoil, it seems, is an implicit indictment of the arcane field of financial engineering — a blend of mathematics, statistics and computing. Its practitioners devised not only the exotic, mortgage-backed securities that proved so troublesome, but also the mathematical models of risk that suggested these securities were safe.
What happened?
The models, according to finance experts and economists, did fail to keep pace with the explosive growth in complex securities, the resulting intricate web of risk and the dimensions of the danger.
Fintag says My Obama mentor, now a Hedge Fund grandee living the high life in retirement told me many things. Spelling is for wimps is one but the other was never invest or trade more than 6 things at once. Now this is a little tricky when most funds are not allowed 20% concentration, but he was right. Many hedge funds boast about turnover and the number of positions in the Greg Coffey style of trading. It never works.
Again, we can blame spreadsheet jockeys and quants who always forget that humans are irrational and rational at the same time. Irrationally rational.
All of us are excited Obama is US president because he has a different skin configuration (if I hear another commentator say he is black ...it is wrong and totally irrelevant). We are being irrationally rational and how could any quant model or risk management process capture this?
That is why I love the markets. People trying to find certainty out of chaos and gamblers finding chaos in certainty.
AIMA PUBLISHES HEDGE FUND GUIDE FOR INSTITUTIONAL INVESTORS
An educational guide for institutional hedge fund investors has been launched by the Alternative Investment Management Association (AIMA).
Roadmap to Hedge Funds aims to de-mystify the hedge fund industry and tackle the notion that hedge funds are speculative, risky and increase systemic risk.
It also attempts to tackle misconceptions in issues such as short-selling, fees, transparency.
The roadmap gives guidance on creating and managing a hedge fund portfolio and gives a view of hedge fund strategies in investment, valuation, leverage, liquidity and risk management
Fintag says Given the hedge fund is almost dead, can I say Horse, Bolted , etc?
THE BIG QUESTION: IS HAZEL BLEARS RIGHT TO ACCUSE POLITICAL BLOGGERS OF UNDERMINING DEMOCRACY?
Communities Minister Hazel Blears made a speech to the Hansard Society yesterday in which she criticised political bloggers in the UK. "Political blogs are written by people with disdain for the political system and politicians, who see their function as unearthing scandals, conspiracies and perceived hypocrisy," she said. Conservative grandee Lord Baker has described the comments as "extraordinary". He said: "She needs to tune into the modern world. People have a right to say what they think and if she doesn't like it she can blog back". However, Blears maintains that: "Until political blogging adds value to our political culture, by allowing new voices, ideas and legitimate protest and challenge, and until the mainstream media reports politics in a calmer, more responsible manner, it will continue to fuel a culture of cynicism and despair."
Fintag says You may wonder what this is here for. Well it is a warning. Socialism is creeping up on us all so please enjoy this blog before I too am sent to death row for crimes against sarcasm.
Obama's four years in the Senate haven't produced a voluminous body of legislative work that might point in the direction that his policies might take. But there are some clues to how he will tackle the economic crisis in general, and the question of hedge fund regulation in particular.
Among the bills Obama sponsored during his time in the Senate was one that would have required hedge fund managers to set up anti-money laundering programs supervised by the Treasury Department. Just last week, the Treasury abandoned a similar proposal, but one of the Obama bill's co-sponsors promises that the president-elect will take up the issue once he is in the White House.
“The absence of anti-money laundering controls on hedge funds is another regulatory gap that the Congress will have to tackle after the election,” Sen. Carl Levin (D-Mich.) said.
Obama has also supported tax plans that would close loopholes that favor hedge fund and private equity fund managers, greatly increasing the tax burden on those groups.
Fintag says
Here is the transcript from a telephone conversation: Fintag: Congratulations. I have been following you on Twitter and you appear to have got the job. Obama: That is kind of you. Now the hard work begins. Fintag: Of course. I am glad you spent my $2 million donation so well. Obama: Was it really as much as that? Fintag: Actually it was slightly more as I sold the artwork I bought at the charity auction and added another $300,000 to your funds. Obama: That is kind of you. Looks like we are one. Fintag: Let me cut to the chase. Money Laundering: I want less paper work not more. And as for taxation, if you tax us 1 cent more we will all move to Dubai and bring the dollar down to its knees. Obama: I think Bernanke has already done that. Fintag: What increased money laundering paper work or collapsed the dollar? Obama: I am sorry but your time is up. What was your name again? Fintag: I represent the Hedge Fund industry. We gave you millions. We are what Bush would have considered his oil industry. Obama: Sorry, I don't know who you are. I guess you must be that Palin Canadian prankster. Have a nice day.
The rash of hedge funds halting redemptions continues as global markets spiral down with two more freezing their assets.
GILD Arbitrage, the first registered Baltic hedge fund, will halt redemptions and subscriptions until May 5, citing “market turbulence.'”
The fund, managed by the Tallinn, Estonia-based investment bank GILD Bankers, took the step because of “the risk of treating some investors unfairly” and because it didn't want “to act too hastily in realizing the potential of our fund investments,” Bloomberg News reports, citing Tonno Vaehk, who oversees the fund, in an e- mailed statement.
The fund, which focuses on arbitrage, has 300 investors and total assets of about US$127 million.
Goldman Sachs is cutting back the number of its hedge fund clients in an indication of tougher market conditions and of the changes sweeping through what was once the premier investment bank.
"Their ability to leverage themselves has been affected by their new reiteration," says George Kellner, founder of hedge fund Kellner, DiLeo. "They are reviewing many of their relationships."
That review is especially intensive for hedge funds pursuing strategies that involve trading securities that aren't very liquid, such as convertible bonds, or that rely on the massive use of borrowed money, such as the computer-driven strategies that seek to profit from small price discrepancies.
Fintag says That won't be difficult as most Hedge Funds abandoned Goldman Sachs months ago. Who wants their positions held by a bank that routinely used them for its ART replication product and now as a government agency would be sending them off to the IRS, FBI, CIA for purposes unknown.
Credit Suisse is the new Goldman Sachs. Hail, Credit Suisse.
The number of cranes adorning the London skyline has fallen by a fifth in just six months as the financial downturn chokes off corporate demand for new office space.
Developments have fallen by more than half in a year, from 46 this time last year to just 17 in the past six months. But a report today warns that London is still facing a massive oversupply of empty office space in the next few years.
Despite the slowdown in new starts this year, more than 12m sq ft of office space is still under construction, according to the Crane Survey from property consultancy Drivers Jonas out next week, equivalent to about 24 new blocks the size of Swiss Re's "Gherkin" tower in the City of London.
Fintag says Remember this headline from December 2007? These things take time to ripple through:
A warning to us all that markets move very slowly and that Obama's policies will take even longer to work (or not). Or perhaps he can shift time to the fun days of 2006? To infinity... and beyond!
75 comments
MsR said ...
MsR: The Hirst production may well have been painted by the wonderful author of Charlie and Lola: Lauren Child
06 Nov 08 - 07:49 gmt
anonymous said ...
oh, thank God! I don't know exactly what happened last night, but I almost waited 3 minutes to read your blogpost this morning:)...
06 Nov 08 - 07:56 gmt
ak said ...
Very impressive, that picture of Obama as buzz lightyear. The Toy story analogy is actually quite appropriate - and you can just imagine John Mccain as Woody screaming helplessly as the toys go ga ga over buzz lightyear's "flying" - "that isnt flying, that is falling with style "!!!!!
06 Nov 08 - 08:02 gmt
anonymous said ...
MsR remains after her (oh too short break) in convict land an empty shell of pretension. One suspects that her glib and slavish trend-following has seem her blow most of her PA salary on Anya Hindmarch bags and Kath Kidston tents.
06 Nov 08 - 08:10 gmt
Top Cat said ...
Wow - you're a seriously small minded a**hole. Do you really need to get your kicks attacking a lady (who I can confirm is a very nice person) anonymously on a blog?
06 Nov 08 - 08:18 gmt
Jamie said ...
this guy is the simon cowell of fintag...harsh but fair.
06 Nov 08 - 08:43 gmt
Ms R said ...
anon: sorry I wear couture: worn it as a child. Don't wear West London populist lables. Not a PA. Only know Lauren child from working in publishing. Would be dwarfed in anything beyond a size 6. Not from convict descent but the Levant.
And no, you haven't got a chance in hell with me. So stop throwing stones in the playground and at least comment on the blog.
PS: I'm sorry about the ejaculation problem. I heard about it from S. She told me.
06 Nov 08 - 08:55 gmt
anonymous said ...
a typical self-aggrandizing and self-serving riposte, you really are a skin-bleaching empty vessel. your constant self affirmation speaks to a hugely insecure personality.
06 Nov 08 - 09:03 gmt
Ms R said ...
what do you want me to say: that i'm a pudgy, slovenly, badly groomed lardy arsed Englishwoman of the sort you go out with who depends on a man for her money? No. And No.
06 Nov 08 - 09:10 gmt
anonymous said ...
Winner - Ms R
06 Nov 08 - 09:15 gmt
BenW said ...
Absolutely. She's a star. And he still didn't comment on the blog. Was it Lauren Child who executed the dot paintings?
06 Nov 08 - 09:18 gmt
anonymous said ...
I have a weighty question: I'd like to know if MsR agrees with Finbar when he says "suspenders are the order of the day"?
06 Nov 08 - 09:30 gmt
Aussie bloke said ...
Is jamie his gay mate?
06 Nov 08 - 09:31 gmt
anonymous said ...
@Aussie bloke - either that, or anon=Jamie
06 Nov 08 - 09:33 gmt
Alpha60 said ...
How the mighty have fallen, nearly every self respecting HF wanted to have a relationship with GS and vice versa. Now i hear a certain Boston based HF that drove 50-60% of the daily vol on the equity swap desk have pulled out.
06 Nov 08 - 09:33 gmt
MsR said ...
@weightyanon: I think suspenders are good if you are wearing nothing else, however under a dress you don't want a line so I like a good hold-up. And just to show that I am really superficial and only concerned with the ephemeral, I'll throw in a brand name..Wolford do very fine ones indeed.
06 Nov 08 - 09:36 gmt
anonymous said ...
MsR - while I understand your aesthetic concerns re. visible line, discerning ladies shouldn't discount the alluring and tantalising effect on red-blooded types. Assuming such attentions are desired, of course.
06 Nov 08 - 10:00 gmt
Alpha60 said ...
Its ok to be superficial and ephemeral MsR. Some of the most beautiful aspects of nature are ephemeral, and therefore precious.
06 Nov 08 - 10:07 gmt
Ms R said ...
@redblooded anon: Ms R understands the concept of attention very much and agrees there are moments when suspenders are called for in the right company.
Sadly, not today. Although while Ms R is having tea and cake with Top Cat to celebrate The Top Cats new Top Kitten she may segue into a shop and look at such items.
It's all about moments. Like anything.
06 Nov 08 - 10:17 gmt
anonymous said ...
Indeed MsR. Such moments bring colour and amusement to an otherwise grey morning....
06 Nov 08 - 10:24 gmt
anonymous said ...
You missed this article about MTM: www.reuters.com/article/hedgeFundsNews/idUSLNE4A401H20081105
06 Nov 08 - 10:24 gmt
anonymous said ...
I'm surprised the GLG redemption freezing didn't get more of Fin's comment - and laughter.
06 Nov 08 - 10:30 gmt
anonymous said ...
I've got it! Nasty Anon must be Manny Roman. It's all become clear.
06 Nov 08 - 10:31 gmt
MsR said ...
Mine too anon...Returning from Australia two days ago (where they think they have it bad but they don't) to miserable London headlines and no fun is dull.
06 Nov 08 - 10:33 gmt
MsR said ...
Mine too anon...Returning from Australia two days ago (where they think they have it bad but they don't) to miserable London headlines and no fun is dull.
06 Nov 08 - 10:33 gmt
Tradebot said ...
Very good blog today Finbar, some really good contenders for quote of the year. I particularly liked new Goldman Sachs of old and irrationally rational. However, the victory was snatched from you by Ms. R comment. "I think suspenders are good if you are wearing nothing else". Outstanding, never have truer words been said here.
06 Nov 08 - 10:42 gmt
Tradebot said ...
well, back to normal matters, we got double the fun today. Merv the Swerve and ECB. Will BoE panic today and yield to the talking heads of idiotic UK press? 100bp anyone? Anybody want to tell these clueless hacks that BoE lost all creditability about year ago when they were fast asleep when interbank market went haywire. Cutting now is largely irrelevant, spreads will only come down when balance sheets are cut down.
06 Nov 08 - 10:48 gmt
anonymous said ...
@Tradebot: 50bps tops. They are too conservative by nature. I do hope your suspenders comment doesn't mean you like wearing them.....
06 Nov 08 - 10:53 gmt
anonymous said ...
MsR wouldn't have an opinion unless she got it from Vogue, stupid zeenat
06 Nov 08 - 11:00 gmt
MsR said ...
Thanks guys for the good humour...I am reading your (financial comments) for ulterior motive which should become clear in the Spring. But I'm happy to discuss suspenders.
06 Nov 08 - 11:01 gmt
GalwayBoy said ...
So, do we think the Fed is running into a liquidity trap and do we run the same risk in the UK?
06 Nov 08 - 11:10 gmt
GalwayBoy said ...
1.5% cut !!
06 Nov 08 - 12:02 gmt
anonymous said ...
Panic stations ...sterling is crashing ...
06 Nov 08 - 12:03 gmt
anonymous said ...
Stone the crows. Why didn't I go for that bloody tracker mortgage?!
06 Nov 08 - 12:05 gmt
Jaa said ...
Thats got Gordon Brown all over it
06 Nov 08 - 12:14 gmt
Tradebot said ...
Total panic. Utter, clueless, hopeless, panic. I saved the FT from 15th May 2008, where triumphant Merv goes "No rate cuts before 2010". Uh, me thinks cable might hit 1.20 by end of 2009.
06 Nov 08 - 12:15 gmt
anonymous said ...
I agree with Jaa.. they had to make it 3% and probably another 0.5% to come.. will be much cheaper for the Brown and Darling show to issue gilts now..... now where did I put my dollars.....
06 Nov 08 - 12:20 gmt
anonymous said ...
Next cut 300 bps
06 Nov 08 - 12:26 gmt
Finbar said ...
@tradebot : email me a photo of the ft and i will put it up tomorrow. why the drop? scottish by-election of crouse ...no more independence
06 Nov 08 - 12:30 gmt
Alpha60 said ...
1.5%...Another shot of smack for the addict...and another small bounce
06 Nov 08 - 12:33 gmt
Jamesonice said ...
I've had my money on Obama winning since spring 2007
:o)
06 Nov 08 - 13:11 gmt
anonymous said ...
Alpha60.. what bounce?
06 Nov 08 - 13:14 gmt
Moron said ...
absolutely love this market:))) just wait for the crash on tomorrows employment number......!
06 Nov 08 - 13:17 gmt
fitzcaraldo said ...
Just for the sake of newcomers to this blog: who the hell is this Ms R who seems to dominate today's comments? Is she part of Obama's shadow-cabinet? Any help to the uninitiated is greatly apreciated.
06 Nov 08 - 13:32 gmt
MsR said ...
I'm a mate of Fin's. I wouldn't have dominated if Mr Pompous hadn't surfaced to NOT comment on the blog.
06 Nov 08 - 13:36 gmt
Boast-er said ...
Back to the contest: the "art" is located outside the soon to be completed RBS building in Stamford, CT. But it's not art, actually a disguised exhaust vent for the demons tunneling under the new site into which the building will collapse and burn in a free-fall to Hades.
06 Nov 08 - 14:08 gmt
Moron said ...
dribble dribble dribble
06 Nov 08 - 14:18 gmt
anon said ...
@Boast-er. VG
06 Nov 08 - 14:19 gmt
Jaa said ...
They have defied the immortal gods, and be delivered to ante..
06 Nov 08 - 14:42 gmt
anonymous said ...
fitzcaraldo ...msR is a self-important bore who imagines we are interested in the minute details of her life. i have no idea of what she is doing on this finance blog either.
06 Nov 08 - 15:09 gmt
anonymous said ...
Self important bore? Pot calling the kettle black you idiot. Almost everyone but you appreciates Ms R commenting here. Now please move on and talk about something else
06 Nov 08 - 15:22 gmt
Tradebot said ...
Finbar, will do ... but where do i send it?
06 Nov 08 - 15:28 gmt
Moron said ...
anon 15:09....the trains are still running in paddington mate...jump and put everyone out of ur misery!
06 Nov 08 - 15:35 gmt
Alpha60 said ...
@Moron - do u not think todays falls are pricing in tmrws potentially bad employment data? Would be happy to stand corrected if you think otherwise
06 Nov 08 - 16:06 gmt
Tradebot said ...
Finbar, i managed to post the Merv pics on the Flickr. re: equities, in the words of Bob the Flip Flop : They might go up. Or down. Maybe a lot. safe trade is short the UK.
06 Nov 08 - 16:22 gmt
anonymous said ...
seems like there are a lot of sad sex-starved tw*ts here who actually get their jollies from some stupid bitch talking about suspenders. sad beyond belief
06 Nov 08 - 16:24 gmt
Jaa said ...
anon. shall we discuss the dildo you have up ur a...
06 Nov 08 - 16:38 gmt
Jamie said ...
As i said earlier...anon is the simon cowell of fintag...harsh but fair. So get over it jaa
06 Nov 08 - 16:47 gmt
finbar said ...
@tradebot - give me a clue as to the flickr tags as cannot find it
06 Nov 08 - 16:52 gmt
Moron said ...
alpha60.....the way we rallied showed that there is too much hope in this market.....and i'm still not convinced abt the earnings valuation mismatch....so i expect further downside...just going with my instincts here...we need more pain before a true bottom
06 Nov 08 - 16:59 gmt
No Returns said ...
Anon. like many hedgies, I'm going to be sex starved for a while. I used to big up my attractiveness by having an extremely large wedge and living the hedge fund life. Looking at current returns, that isnt going to be possible for a while at least, so I’ll going to rely on my personality.
06 Nov 08 - 17:03 gmt
anonymous said ...
@jamie: Which one is top? you or anon?
06 Nov 08 - 17:45 gmt
anonymous said ...
@jamie: Which one is top? you or anon?
06 Nov 08 - 17:45 gmt
anonymous said ...
@jamie: Which one is top? you or anon?
06 Nov 08 - 17:45 gmt
Sickanon's therapist said ...
Sorry I have tried to get him sectioned but they won't take him. Jamie is his imaginary friend.
06 Nov 08 - 17:51 gmt
Tradebot said ...
Fintag, i think it posted under tradebotuk.
06 Nov 08 - 17:53 gmt
Tradebot said ...
ok, i have msg you on flickr. Moron, agreed re earnings, it's going all your way.
06 Nov 08 - 18:02 gmt
Moron said ...
it usually does tradebot.... it usually does:))
06 Nov 08 - 18:20 gmt
anonymous said ...
FinTag:"No. But he will try. It depends if he sacks Paulson and Bernanke and finds a team who are capitalists. But this is unlikely and I expect to see more protectionism, lynching of the rich and propping up of ailing industries like automobiles and banks."
HAHAHAHAHAHAHAHAHAHA. I wonder if they'll bring back Madam Guillotine.
07 Nov 08 - 03:45 gmt
anonymous said ...
Fintag:Fintag says "You may wonder what this is here for. Well it is a warning. Socialism is creeping up on us all so please enjoy this blog before I too am sent to death row for crimes against sarcasm."
Socialism they name is really the national socialistic party (ie - Germany with the Furher).
07 Nov 08 - 03:48 gmt
anonymous said ...
Finbar: I don't know what you're smoking or eating or chanting but if you listen, REALLY listen, to O's acceptance speech, there's NOTHING THERE.
I especially like his comment to those that didn't vote for him that he'll listen. How can he do that when he's going to implement the fairness doctrine - wiping out all opposition mass media.
Nice. America the Obamination.
07 Nov 08 - 03:57 gmt
anonymous said ...
Finbar: I'd like to know how the Saudi's and Iranians and the Palestinians who were sending $10.95 illegal donations like the fact that O chose Rahm Emmanual (the son of orthodox jews) as his chief of staff.
HAHAHAHAHAHAHAHAHA
07 Nov 08 - 04:00 gmt
anonymous said ...
NOW I'd like the world economy to TANK! I'm doing my best by not buying $7 pants at Walmart that are made in China and not hiring new people for my small business. Long live Obama and 4400 on the Babson style chart for the DOW.
07 Nov 08 - 04:02 gmt
Student wanting to learn from Mr. Taggit said ...
Anyone read the article about USA's taking people's private retirement accounts such as 401k over and selling their holdings thus driving down the Dow? It was on Google - democrats and 401k plans. so Mr. Taggit, where do I put my money?
07 Nov 08 - 04:04 gmt
Student wanting to learn from Mr. Taggit said ...
Mr. Taggit, have you heard of reverse mortgages in the USA where if you're 62 you can still stay in your home but get money out of it and then, I guess, when you die, your house belongs to the bank. Won't this make matters worse? Especially given that the baby boomer cohort in the USA is HUGE and now has massive debts. Any word on how this will work?
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