Stocks

I am shocked that our democracy might work after all.  Capitalism and private ownership (in this case of losses) still matter in this country after all. As I wrote last week --  "We probably hit DJIA 10,000 in a heart beat if we don’t pass this bill. We probably spike 500 or 1000 points in the near term if we do pass this bill….and then we’ll eventually see DJIA 9,000 or lower ... read more

Back in October 2002, the Nasdaq was down 75% from its highs just a year a half prior and there were hundreds of tech stocks trading down 90% plus from their highs. See, in the late 1990s, any company with the word "communications" in their business plan could raise billions of dollars in debt and/or equity financing. But after the bubble popped in early 2000, nobody with the word ... read more

Long-time reader (from even back in my TheStreet.com days actually) emailed me the following this morning: Number 3 from yesterday's post: 3. I think you’re going to have to be more like Warren Buffett than Peter Lynch in your approach to investing for the foreseeable future – that is, wait until they are truly giving stocks away with the odds stacked in your favor ... read more

Wow, it is really awful out there. Stock markets in the US are down double digit percent in just the last three days and down nearly 30% from their highs last year. The red on the screens is all-consuming and sure looks like digital blood in the streets of my monitor. I've just spoken to several hedge fund managers and/or money managers, almost all of whom are panicking. The long only guys ... read more

Easy does it.  I have not put any more money into the market since the down 500 day on Monday.  Goldman's down 30% in a straight line since I bought it.  That's not fun, even if it's just a toe. As I've said all week -- you might want to START buying here.  Don't draw a line in the sand. We are living through some of the hardest times in our financial markets' history.  Be careful, but ... read more

You can't be in this city this week and not feel the pain. Nerves are frayed everywhere you go. In the last few weeks, after hundreds of years of collective business and trillions of dollars in collective earnings, Lehman disappeared and Merrill disappeared and Bear Stearns disappeared. The guy at the bodega feels it too though. The secretaries here at Fox feel it. Legal assistants at the ... read more

Headlines jungle is the only rule, front page roar of the nation cool Turn it up, this is my attitude, take it or leave it I love it loud, I wanna hear it loud, right between the eyes Loud, I wanna hear it loud, I dont want to compromise -- KISS I'm long something besides cash for the first time in a very long time. I took a tiny bit of capital I had left in a brokerage account and ... read more

I've long said on Happy Hour that you probably can't buy the financials until the first big one goes bankrupt. Taking $2 billion and giving it for free to Bear Stearns shareholders didn't count. Neither did nationalization of Fannie and Freddie and our entire mortgage industry. But Lehman just died today. Outright bankruptcy. It's tragic and scary, and the crisis has gotten out of control. The ... read more

I've long warned against chasing the supposed capitalistic boom in China, as I don't think the American companies who have put so many hundreds of billions of buildings and factories and distribution centers and so on in China are thinking about how badly they might end up screwed if the Chinese are to start doing what we're doing here in the US right now with Fannie, Freddie, et al -- changing ... read more

I interrupt this vacation for a special public announcement.   One of the most important Flip Its any American can do is to ignore the advice from financial planners and the oft-under-educated and ill-equipped advisors at your company that always try to convince you to invest in the stock of the same company you work for. From idiotically foolish 401(k) and IRA plans that will match your ... read more