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
Like my predictions of late, the next few newsletters will be erratic in delivery. During boom times, managers love to tell you how good they are; come the slump and the excuses run out and those newsletters run dry. My excuse is travelling. For the next 3 weeks I shall be continuing my horrendous schedule of 1 star hotels, run down bars, pitching and failing to close, flying at the back of the plane and being charged roaming charges on my Blackberry that could pay off half the UK's debt.
This week I am outed by a German magazine. It comes out on the 16th October and I shall not be linking to it (although I am hoping the pictures are good). Its a spread article in a magazine called Business Punk.
In the meantime, enjoy the weekend's news whilst I learn how to speak Spanish.
For those of you who like to comment on my views, can you stick to point? Off pisting is for Italians and overly tanned Frenchmen.
FOR SALE: ONE BRIDGE, A BOOKMAKER AND MILLIONS OF STUDENT LOANS
A fire sale of public assets will be announced by Gordon Brown today to help cut the Government's mounting deficit.
The Tote, the Dartford crossing, the student loan book, the Channel Tunnel rail link and the Government's stake in Urenco, which enriches uranium for nuclear power stations worldwide, will all be offered to private bidders in the next two years, in an attempt to raise £3bn. Related articles
Fintag says Thatcher was lambasted for selling the silver. For Gordon Brown, this is part and parcel of his psyche. I quite fancy a piece of those student loans, you know securitizing them and selling them as bond on an ABS subprime style. If I have to sit next to them on the tube and at the back of planes, then why not join them and flog some of their liabilities?
The continuing job crisis is hitting young people especially hard—damaging both their future and the economy. Bright, eager—and unwanted. While unemployment is ravaging just about every part of the global workforce, the most enduring harm is being done to young people who can't grab onto the first rung of the career ladder.
Affected are a range of young people, from high school dropouts, to college grads, to newly minted lawyers and MBAs across the developed world from Britain to Japan. One indication: In the U.S., the unemployment rate for 16- to 24-year-olds has climbed to more than 18%, from 13% a year ago.
Fintag says Perhaps these students can get radical. Students for the past 30 years have been MBA greed is good wimps. Let us see if this new breed of smart but unfulfilled can help kick start a new music / art / underground scene to alienate us grown ups.
Carl C. Icahn, the billionaire investor, warned Friday of the potential for a second economic downturn that could cause serious pain for investors.
“If you get a double-dip recession and they start coming down, it's going to be a bit of a bloodbath,” Mr. Icahn, whose funds recently trimmed their stake in the Web company Yahoo, said in an interview on CNBC.
Despite the months-long stock market rally, Mr. Icahn took a generally cautious tone in Friday's interview. He did say he sees an investing opportunity in real estate — an opportunity to sell it short, that is.
Fintag says Maybe the new 1969 will be a student revolting 2010? 21 Sept 2009 may in fact turn out to be 21 September 2010 ...? [Editor: uh?]
UK companies seeking to minimise tax bills by locating abroad would face years of scrutiny to ensure senior management decisions have genuinely relocated, a senior official at HM Revenue & Customs has said.
Firing a warning shot across the bows of companies thinking of emigrating, Dave Hartnett, permanent secretary for tax at HMRC, told the Financial Times he was not convinced that relocations could be done in a “clean way” and warned that a challenge could come years after the move.
Fintag says This is nothing new. With the growth in outsourcing overseas, Intellectual Property rights and virtual computer programming running most companies, this is becoming near impossible to prove. Many companies are partnerships and don't have board meetings. Why don't the UK government just bring in a flat tax and stop messing around. HMRC have been slashed and burned and Gordon Brown will most likely outsource it all to India anyway ...
About a third of UK employees throw sensitive documents in the bin instead of shredding them, research suggests.
The study also found almost three quarters of workers felt their organisations could do more to protect their customers' sensitive information.
The data was compiled for National Identity Fraud Prevention Week.
Fintag says I find this truly irritating. KYC, AML, Identity verification is a farce. I am changing my name to Fatima Zabaglione and learning to speak Spanish.
Philippe Jabre spent much of last October and November flying economy. Times were tough as he tried to convince investors not to pull their money out of his hedge fund.
When he was not in the air, Jabre rarely moved from the trading floor of his Geneva office. With a phone glued to his ear, he tried to make sense of the markets.
Although he was bearish as the credit crunch began to unfold, he did not expect the markets to slump so violently. He certainly did not expect a threat to the existence of his hedge fund, Jabre Capital. “It was touch and go,” he said. “The run [on the fund] was not justified, but the large institutions and the funds of funds, those that were ticking boxes, didn't want to stay.”
Fintag says Jabre the Crook. You have to hand it to the guy.
REPRESENTATIVES of the hedge fund industry will this week put forward an alternative to the European Commission's (EC) alternative investment fund managers (AIFM) directive, which they say would devastate Europe's hedge fund industry.
The Alternative Investment Managers' Association (Aima) has been leading lobbying efforts to revise the directive and believes that it has secured sufficient support in Europe for changes to the EC's plans.
Aima will now focus its attention on proposing an alternative and is expected tourge Brussels mandarins to focus on increased disclosure and registration of fund managers.
Fintag says This new directive is called Abusing UCITS 3 and living in Switzerland.
telegraph says " Ditch the Directive: UK stands up for hedge funds "
My immediate concern is which end has the headboard?
27 comments
Coolio said ...
First! go get my coffee Moron
12 Oct 09 - 06:41 gmt
anonymous said ...
Pls note people and you know who ..Fin has asked for comments to be on point. NB: Today he has not talked about currency therefore day traders should comment on their own blog..or get deleted again.
12 Oct 09 - 06:54 gmt
anonymous said ...
Pls note people and you know who ..Fin has asked for comments to be on point. NB: Today he has not talked about currency therefore day traders should comment on their own blog..or get deleted again.
12 Oct 09 - 06:54 gmt
anonymous said ...
Too subtle for altogether obnoxious asinine being.
12 Oct 09 - 07:54 gmt
anonymous said ...
AUDJPY at 81.26/30, traded high at 81.48/51
12 Oct 09 - 08:01 gmt
Confused said ...
@Athena: I think you'll find it's "MsR," and not: "MrR," as you typed in your post the other day. For someone who decides to be picky about grammar, yours doesn't stand up to much scrutiny...
12 Oct 09 - 09:19 gmt
anonymous said ...
AUDJPY trading 81.52/56...where is aoab?
12 Oct 09 - 09:43 gmt
anonymous said ...
81.70/73
12 Oct 09 - 10:17 gmt
anonymous said ...
81.80/83
12 Oct 09 - 10:57 gmt
Alvaro said ...
Buena suerte!
12 Oct 09 - 11:29 gmt
MsR said ...
Sorry I just can't see how someone who is lucky enough to leave university with a degree is part of a 'lost' generation compared to all this other sh*t in the world. Anyway the Guardian is keeping them employed letting them write articles about how we've all let them down apparently. As for their spliff rolling skills....rubbish.
12 Oct 09 - 11:38 gmt
anonymous said ...
What magazine is Fin in Ms R?
12 Oct 09 - 12:14 gmt
Patches O' Hoolihan said ...
Top of the mornin to ya!!
12 Oct 09 - 12:31 gmt
Moron said ...
I want to shag all of London!!!!
12 Oct 09 - 13:25 gmt
damiendamien said ...
Having recently gone back to school I can assure you there will be no good music. Everyone is very dull and worried about getting a job. No one believe me that putting 'David Bowie' in your hobbies and interests section is more likely to get you an interview than speaking French.
12 Oct 09 - 13:34 gmt
anonymous said ...
"gone back to school"..tedious americanism...
12 Oct 09 - 13:50 gmt
DDT said ...
Those student loans are a massive bundle of toxic debt if ever there was one. Huge swathes of loans are to graduates who studied Film Culture in 2000 and got a 2:2. Currently working in Burger King with no intention of repaying. As for the highly flying science grads they will move to Asia for 5 years and then default.
12 Oct 09 - 15:33 gmt
Moron said ...
I miss aoab:((((....BRING AOAB BACK!!!!!!!!!!
12 Oct 09 - 17:18 gmt
Moron said ...
BRING AOAB BACK NOW!!!!
12 Oct 09 - 17:19 gmt
Moron said ...
BRING AOAB BACK YESTERDAY........I AM SUFFERING FROM POST AOAB WITHDRAWAL SYMPTOMS!!!!!:(((
12 Oct 09 - 17:56 gmt
AthenaDelphi said ...
Moron - I have 1 question: What did you do with Maria?
Oh, and Fin, I vaguely remember reading that those who sit in the back of a plane are usually the ones who survive vs. those in the front rows. Take heart!
12 Oct 09 - 21:19 gmt
Moron said ...
Athena honey.....I taught her how to swallow~:)))...she is still traumatized by the experience!!!
12 Oct 09 - 21:28 gmt
anonymous said ...
Where is that serial abuser "howie"
13 Oct 09 - 01:46 gmt
MsR said ...
We should just outsource our students. Pack them in cardboard boxes, send them to India and China. No film studies courses, no debt.
13 Oct 09 - 02:38 gmt
AthenaDelphi said ...
Yep, I wrote MrR over the weekend and I'm sorry MsR. Funny thing is - I've seen your website and over here, where I live, there is your doppelganger, MrsR who is married to MrR, and both are close friends of mine.
So, I'm sorry I keep screwing up the MrsR, MrR, with you - MsR. I'll try very hard to make sure I remember you are MsR - your own person.
Best regards, AD
13 Oct 09 - 06:50 gmt
AthenaDelphi said ...
doppelganger in style and wit that is.
13 Oct 09 - 06:53 gmt
MsR said ...
@AthenaDelphi thanks AD. I haven't posted on my site for a while because I'm concentrating on paid work but will be this week.
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