September 2008

Maybe it's not too late to stop this madness. Read this excellent, straightforward and as anti-political analysis as you'll find about this bill by David Merkel. And then act, regardless of whether you vote Republican, Democrat, Indie, or whatever: Oppose the Treasury's bail out plan. - Full disclosure -- In addition to reading him regularly, David and I are also business partners ... read more

1. Wall Street Salaries 2. Interventions Make Me Bearish 3. Billionaires Bailing 1. Over the last thirty years, Wall Street went from creating 1 out of every 6 jobs to 1 out of every 8 jobs in NYC, but that because salaries went up so much, Wall Street went from getting 18% of all wages in NYC to 36%. And now they want a trillion dollars from middle America to bail themselves out. 2. ... read more

If we're betting $1 trillion on turning the psychology of Wall Street and its investors, but Morgan Stanley and Goldman Sachs are leaving the investment banking business anyway and we have no idea what Wall Street means anymore... Then why are we making the bet again?  Capital's not going to flow as it used to anyway.  Seriously, is this just a $1 trillion kiss off for the richest cats in ... read more

So the Republicans and Democrats in power whose policies have created and developed this bubble that's now popping on Wall Street and under homeowners now want to take an outright $1 trillion of your savings and borrowings and give it straight up to those firms who took enough bad risk that they're about to go bankrupt because they say if they don't you'll be broke and never be able to tap any ... read more

I suppose it's important in the midst of all this economic and socialist meltdown engulfing our country and our world that we should still remember that other things are important too. Like blowing off a little steam and having some fun sometimes. So a couple friends of mine and I were supposed to have some steaks and wine Thursday night, but one of the dudes ends up with a last minute invite ... read more

You'd think AC/DC just wrote this song about our current environment, no? Who made who? The people make it all happen. Not Wall Street. Not Paulson. Not Bush or Pelosi. And neither Obama nor McCain made you either. They can destroy you. They can't make you. Read the lyrics. Think about whether the intervention helps or hurts you. Who made you? AC/DC -- Who Made Who? The video ... read more

1. $1.2 Trillion of Baby Formula 2. Fade This Rally 3. Community Volunteers Needed 1. How is it that the government’s had no money for education, for homeless kids, for baby formula for hungry children or even tax breaks for my growing Internet companies…but they can suddenly find $1.2 trillion for rich bankers on the simple hope that psychology might be better for a few days? 2. ... read more

On Wednesday when the market was down 10% on the week and down 5% on the day, I pleaded with readers and Happy Hour viewers to not sell this market.  You always want to buy the panic. Okay, so now what?  Well, we've now rallied 10% in two days and we're up 4% on the day.   People have convinced themselves that the bottom might finally be in and that they've got to be long again.  Sell the ... read more

All these guys you read in the papers and magazines -- Fortune's cover says "Paulson to the Rescue" -- and on TV and on the radio want you and me to believe that two dudes who've been directly involved in causing the crisis can somehow fix it by redistributing your money to them and their well-connected, very rich friends. They're either idiots or thieves and they make me sick. Flip it ... read more

Here’s what was rallying in my mind today: 1. Alleviate Your Pain 2. 20 Year Time Horizon 3. They’re More Scared Than You 1. Ahh, didn’t that rally feel good? Now wake up! I’ll remind you of this every time we bounce during this bear market -- If you were crying last night because of your stock market losses, then sell some right now while you can. 2. I am so torn. I ... read more