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
As anniversaries go, this one isn't much fun. Having lived and played (Windows on the World, a place I once dressed up as a pineapple but that is for another day) by the towers for a while as well as being on a conference call to Morgan Stanley from London on that fatal day, it is a day of reflection. Time may pass but memories linger.
Life isn't always fair and here is a less extreme example. Tim Sykes is a well known trader who likes to tell you how he makes his money so sends out these types of alert. As much as I and my fellow hedgies would love to send out such alerts, we are unable to do so. The regulations stop us which is a shame as we could have some real Goldman type fun.
"UPDATE: I'm up 15% already shorting a pure pump & dump this morning, StockPreacher.com sent out an email that pumped up the crap stock of XSNX 70%, TIMalert subscribers, who receive my real-time trade alerts, and I shorted directly into the predictable temporary buying caused by the email, it's time you learn this strategy so you can profit too! (StockPreacher's disclaimer admits to getting paid 900,000 shares to send out the email "this compensation constitutes a conflict of interest" LOL yeah it does!)" Tim Sykes.
Housekeeper I have some shocking news. My housekeeper is leaving. She is Polish and has an unbelievable work ethic. Unfortunately she has decided to go back to her homeland because she cannot take the lying and cheating and tax evasion and laziness of the British people around her. She lives in Ealing. What has happened to our once great country? Oh, its run by a grumpy socialist who describes a warm and substantive conversation with the US socialist Obama who describes the same Lockerbie conversation as a beating and a drubbing.
Global oil consumption will contract less than previously forecast this year and grow strongly in 2010, the developed countries' energy watchdog said on Thursday, in the latest sign of surging economic optimism.
The Paris-based International Energy Agency (IEA) said it detected “growing evidence that the global economy may be finally stabilising”. But it added: “The spectre of a double-dip, W-shaped recession . . . cannot be entirely discounted.”
The IEA now expects global oil demand to drop 1.9m barrels a day this year, less than the 2.3m b/d it had forecast last month. It is the third revision since May, when it forecast a contraction of 2.6m b/d. The upward revision of 700,000 b/d over the past four months is equivalent to Qatar's oil output.
Fintag says Estimating oil production and consumption is like trying to work out the meaning of life.
bloomberg says " OPEC Agrees to Keep Oil Production Quotas Unchanged "
Despite revealing $3.3bn (£2bn) of net outflows in its most recent financial quarter, John Rowsell, managing director of Man Investments, the group's asset management arm, said the industry had turned a corner in the last two months. He now expects institutional investments to outweigh redemptions within 2009.
This would be another boost to hopes that the worst of the recession has passed and that institutional investors are returning to the market.
Fintag says Fingers crossed.
financial news says " US hedge fund scoops top performer accolade "
ANOTHER 1,000,000+ GUNS ADDED TO AMERICAN HOMES IN AUGUST
Data released by the FBI's National Instant Criminal Background Check System (NICS) reported 1,074,757 checks in August 2009, a 12.3 percent increase from the 956,872 reported in August 2008.
So far that is roughly 9,076,205 gun bought this year! The total is probably more as NICS background checks may cover the purchase of more than one gun at a time.
This latest jump in background checks show that Americans are solidly in-favor of keeping firearms in the hands of law abiding citizens and clearly shows that proponents claiming the USA wants more gun control are blatantly wrong.
Britain's public debt will explode to 180pc of GDP within a decade unless future governments take drastic measures to restore fiscal probity, according to a confidential study by the European Commission.
The projection is more than twice the level forecast by the UK Treasury, which expects the debt to peak at around 80pc before gradually falling as growth revives and tax revenues come back to life.
What is shocking is that UK risks decoupling from the other major economies in Europe, vaulting past Germany, France and even Italy into a wholly different league. Ireland is in the worst shape, with debt projected to reach 200pc of GDP.
Fintag says Still fancy a bull market?
bloomberg says " U.S. Trade Deficit Widens Most Since 1999 on Imports "
cityam says " Britain needs very large spending cuts "
The New York-based fund has bought 23m shares worth £180m. The investment means Eton Park will play a crucial role in deciding the future of Cadbury.
The stake, which is thought to have been built up since Monday, has so far not delivered a big gain or loss to Eton Park. Shares in Cadbury, whose brands include Creme Eggs, Flake and Dairy Milk, soared from 568p when the market opened on Monday morning and at one stage hit 805p. The low this week has been 770p and last night the shares closed at 781p.
Fintag says We all love Chocolate especially in a recession thanks to its ineleastic demand profile.
SWISS FIRM LAUNCHES SECONDARY MARKETPLACE FOR HEDGE FUNDS
A Zurich, Switzerland-based financial services firm with the catchy name of 2n20.com has unveiled a new marketplace where investors can unload their unwanted hedge fund shares.
According to the firm, besides offering a secondary marketplace for buyers and sellers to trade in distressed funds, 2n20.com is also pushing what it calls “The High Water Mark Market.” This market is geared toward funds with short redemption periods that are not distressed, and are therefore selling at net asset value.
Fintag says ebay for hedge funds. A shocking thought.
reuters says " Government wants speedy action on banks' living wills "
Several of London's largest hedge funds are poised to launch onshore funds in order to trump strict new regulations expected from the European Union.
Cheyne Capital, the $6bn (£3.6bn) hedge fund manager, is set to become the latest high-profile London name to launch a so-called Ucits III fund, people told the Financial Times.
Man Group, which with $43.3bn in assets under management is Europe's largest hedge fund operation, is to announce the launch of a similar fund - its second - on Monday.
Fintag says Actually a UCITS fund is not strictly a proper hedge fund, it is a structured product wrapper or feeder and it doesn't quite defeat the AIFMD but hey ho its a good try. The underlying funds are usually offshore which is the best bit but the real pain is the oversight and reporting. However, given Dublin and Luxembourg are keen to grab new business, UCITS is a good short term option especially as they will hand out UCITS approval pretty easily.
allaboutalpha says " Goldman HF Report: More consolidation ahead "
18 comments
MUNCHY said ...
First!!! Vavavoom
11 Sep 09 - 06:48 gmt
anonymous said ...
So, where do I sign up for TIMalert and receive your real time trade alerts?
11 Sep 09 - 06:52 gmt
anonymous said ...
Well, after 8 years, you're either in one of three camps: It was an inside USA government job (bush did it) to get the power to invade Iraq OR it was terrorists that hated the USA which was justified because of the ego powerplays of the USA - OR - it was bad guys who were nuts and nutty people can't be reasoned with no matter how nice you play on the world stage.
Choose your camp.
11 Sep 09 - 07:00 gmt
anonymous said ...
"US hedge fund scoops top performer accolade"
Bet they're using the same platform trading program as GS.
I'm amazed that americans put up with GS - the equivalent of the russian oil oligarchs before putin took over kingship outright while riding his horse with no shirt.
11 Sep 09 - 07:07 gmt
anonymous said ...
Geithenr on Squawk CNBC town hall - yap "leverage" yap "saving more" yap "slow recovery" yap "unemployment" yap "transition to stable system" yap "without tools and authority to prevent..."
gets off of set, pulls off microphone and pulls out blackberry to ZimbabweBenBernanke: PRINT MORE MONEY QUICKER. BUY MORE 10 YRS.
11 Sep 09 - 07:10 gmt
anonymous said ...
I know that view Fin. Seems Americans are feeling a little more threatened and using their remaining money to buy guns, tomatoe seeds, rice and bullets.
short the dollar. they're going to define what a 4th world economy looks like this century.
11 Sep 09 - 07:33 gmt
said said ...
smiling chicken made to lay with beef on platter. sauce painted on, then taken away leaving one helpless
11 Sep 09 - 08:37 gmt
Top Cat said ...
What bizarre spam!
11 Sep 09 - 09:24 gmt
Munch the Greatest said ...
I lost, this day, the FIRST position!
But, I claim a MORAL victory, instead!
11 Sep 09 - 10:01 gmt
Maria said ...
weekend :)
11 Sep 09 - 10:08 gmt
A Psycho said ...
@Maria I bet you look gorgeous today?
11 Sep 09 - 10:24 gmt
damiendamien said ...
Bored of this rally. Putting my shorts on early next week.
11 Sep 09 - 12:38 gmt
Black cat said ...
Mini-crash next Tuesday Sept 15. S&P500 to bounce of 1060.
11 Sep 09 - 13:21 gmt
Maria said ...
@ psycho...i cannot decide whether to cut my hair short or not :)
11 Sep 09 - 14:04 gmt
A Psycho said ...
@Maria don't cut it too short, longer hair looks more attractive
11 Sep 09 - 15:22 gmt
Maria said ...
@ psycho: i thought the idea was to "short everything" :)
11 Sep 09 - 15:45 gmt
A Psycho said ...
@Maria for you I would go Long...V long!!
11 Sep 09 - 16:18 gmt
Moron said ...
ok nutjob....stay away from my Maria.....I'm the only one allowed to lengthen her shorts:))))
facebook
free daily e-mail
feed
