THE FINTAG NEWSLETTER
@ Wed 04 March 2009 : GMT

FINTAG COMMENT

Collapses.

Yesterday I put up a cnbc clip of Soros ranting about Obama killing off America. The rich man has a point. Whilst the poor man in the street cuts back on expenditure, reigns in debt and stops to think about life, 2 term Obama is thinking about his political career and not the long term systemic risks he is numbing but ultimately feeding.

BO wants to buy back debt, print money and bail out those his advisors think should be saved. There is no consultatation or debate, just knee jerk socialist panic. Charles Darwin must be turning in his grave. If something is no longer fit for purpose, it has to die. We can be all puppy dog and liberal but the reality is not all of us will escape in one piece. So why is AIG still being looked after? Nobody knows why. Insurance companies are nothing but ponzi schemes so who cares?

Take us hedgies. Many of us have been wiped out (although this one seems to be doing ok). But this is good, for those who are left will be able to make more money for their investors. No more Hedge Funds for Dummies types trying to jump on the dot com bubble after it burst but solid managers with strong skills and insight into the future. Less AUM (or FUM to our American friends) means more opportunities to seek out alpha.

So I am lovin' it. I feel sorry for those caught up but you did vote the Boring O because he spoke nicely. This was wrong. America needs a 1 term president who acts for the country and not for a second term. This is why I still believe John McCain would have taken the tough choices like letting AIG go into chapter 11 and letting Bank of America and Citi go to the dogs.

The wounds are too big to stop with sticky plaster. If one of my dogs was in a bad way and was a no hoper, he would be taken to the vets. And put down. Best to take the dying entity, AIG, around the back and beat it with a shovel. It will benefit us all in the long run.

But enough. Here is the rest of the news ...

Todays theme is the Moron.

STIMULUS FLOWS INTO PATCHWORK OF STATE TRANSPORT PROJECTS

new york timesFintag says
Just like Japan, the holes will be dug and filled in and for a short period of time the pain eases. But then the time comes and the pain is so bad the people revolt and BO is relegated to the status of a Stalin. I shake my head in disbelief. Building a few bridges and sorting out a few roads helps very few indeed.

Remember when commies were stoned to death in the USA? What would John Wayne think?

America is now a communist country. Cuba will be delighted.

abc says" Bullish Obama Suggests Nation Should Buy! Buy! "

BOOK PROMOTION

big barryFintag says
It is so exciting see bloggers I have grown up with publishing books. My foray into the publishing world last year was less successful - I had to set up a publishing company so even my Editor couldn't say no (its called lazy dog press ) - but the resulting fun was fun and a half.

I have been called many times by big boy publishers including Penguin and Wiley to write a book. The problem is most books sell less than 5000 copies in a lifetime. It is a painful process.

However, I have a couple of projects on the way.

1. A book called "The Vicar of Debauchery" about a deviant hedge fund manager who turns to the cloth and then turns his church into a brothel.
2. A book called "Hank Paulson: My part in his downfall" about a shy retiring blogger who writes about the world that nobody else sees and forsees a great depression starting on 17th October 2007.
3. [Editor: Enough. I don't allow product placement]



cnn says " Inside the Bear Stearns boiler room "

FORD, GM SALES HALVED AMID AUTO INDUSTRY MELTDOWN

marketwatchFintag says
Cars are so last year.

FSA BRINGS FORWARD CFD DISCLOSURE RULES

timesFintag says
Good luck. This is not as easy as it sounds. Many CFDs are held for a very short period of time and traded intraday. It is a contract for differences and only exists because of the archane tax rules on the LSE.

If they removed the tax, CFD's would die.

These regulators are morons.

BRUSSELS BEGINS PREPARATION OF HEDGE FUND REGULATIONS

hedge funds reviewFintag says
Ha! So tell me what is a Hedge Fund? I don't run hedge funds, I manage assets. Therefore it is not applicable to me.

This is the problem. Hedge Funds are private pools of capital. How can a government tell me how I can and cannot invest? It is totally unworkable.

Morons.

MAJOR UK PENSION SCHEME STICKS BY HEDGE FUND MOVE

yahoo!Fintag says
See. We are the future. Any hedge fund that cannot make more than libor plus 100 bips is not worthy of survival. I love low interest rates ...

ACKMAN'S TARGET FUND DOWN 33% IN FEBRUARY

finalternativesFintag says
Oh dear. What went wrong?

dealbook says " Barclays Executive Moves to Renaissance "

BERNANKE'S AIG BLAST MAY MEAN MORE CURBS ON RISK, CONCENTRATION

bloombergFintag says
Poor man. He gets so emotional.

HEDGE HOG IS COP KIN

new york postFintag says
Wow, that headline is almost as bad at my efforts of sophisticated humor.