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Latest Comments95 Comments
5 Key Quotes from US Airways on the Airline Industry
The official slogan of all the airlines should be "a crappy product with crappy service made in America by your trusty unions."
Online Travel Trouble: American To Ditch Kayak; Is Orbitz Next?
The problem with airlines is they compete on price and not service, so they cater to the traveler with the least money. Well, that and the unions of course. Bankruptcy can not come too soon for them all.
Bank of America Buyback Announcement: Who Cares?
Soup Target; Cramer's Mad Money (7/22/08)
As for oil, its drop is a bad macro event. Oil is dropping because of a fear that global demand will drop because of a global slow down. Duh, a global slow down is not good for equities, it is bad. Global growth is all that has kept this theoretical market going at all.
Bank of America, Citigroup Ignite Hope for U.S. Banking Industry
They have enough writedowns for the next three years, they will continue to manipulate their earnings releases based on how low they can give guidance and then beat it by a billion.
Financials: How - And When - We Reached the Bottom
Where are bank earnings? How much money are the Investment Banks going to make on M&A, securitization and the like in the next few years? It's hard to come near past earnings when you used to have ten revenue streams and you just lost your best three. Add that to dilution and the EPS will not approach past numbers for years and years.
Who is Tom to decide he is comfortable with write downs? Please. Three months ago when the last rally started (oh, during earnings season, or is that lying season) we were told that we were near the end of write downs. Believing anything the banks say or do is sheer insanity. These are comfirmed liars and crooks, and you take their word.
Sorry, but Whitney and Ackerman are much more reliable sources than any joker who pushes these banks. I think I will stick with believing those who have been right in this crisis, not the morons who keep telling me there is a bottom and no more write downs.
Estimates for losses are between $1 and $2 trillion now, are we even near that. Of course not. And that does not include normal loans, credit cards, commercial loans.
We will have write downs for years to come. The banks don't even know what is on their books. Their Teir III assets keep growing. Look for most of those assets to be written down eventually, quarter by quarter.
Bottom. Yeah right, bottom of the barrel maybe.
Earnings Season: Fundamentally Flawed
I said to a friend the other day, if I told you on Monday that you could short the banks at the price they traded for a month and a half ago would you do it? Well here we are, one week later you can short the banks at the same price they were trading at in early June. Has anything changed to make the banks better companies in the last week?
To top things off, banks like WFC and PNC actually raised their dividend. This is strictly a stock manipulation play. There is no doubt that cash in king at this point in time, so why in the world would a bank look to send more cash out to its shareholders? This is a horrible business decision. They are making dividend decisions based on stock price, not on sound economic principals. They are doing long term damage to their companies in order to prop the stock price up today.
C, MER, PFC, STI, COF and their cohorts will all be substantially lower in a month and a half than they are today.
The author is completely correct about earnings season. The last market rally started at the begining of last earnings season. This rally started at earnings season. All this tells me is that earnings are manipulated and to invest on them is idiotic at best.
Lehman: The End Game
What color is the sun in your world? If we all think happy thoughts the market will go up. Yeah.
Stop listening to morons on television and start shorting or buying puts. Markets move in two directions, don't limit yourself to only one.
Wachovia: The Big Tell?
Whether this has to do with the stock being valueless, my position, or because people can not buy what they have no clue they are investing it, the point is moot. The only thing you need to remember is that either way investors do not want to touch this thing.
Bill Ackman's Plan to Save Fannie and Freddie
He was on the monolines from the beginning, pounding the table, and you can't blame him for their demise. I assume he is right on this one too. These two companies have absolutely no value for shareholders. The only thing that will be left of these stocks is what the taxpayer picks up, which of course is bs becuase the taxpayer should not be saving equity holders.
Financials: Don't Believe the Rumors
Sad to think that you have been investing in this market and have no clue of what leverage is.
Invest based on this analysis at your own risk.
Where Is the Fear in the Markets?
Will a Drop in Oil Trigger a Market Recovery?
This is a moot argument. Who cares if oil drops back to $100, how will that make things better? Right now stock prices do not reflect the reality on the ground based on $130 oil. Companies that have higher input prices and shipping prices have not been killed becuase of the oil rise. To see them go up becuase oil drops would not make sense. So if I get this correct, when oil rises it has no negative effect on stocks but when it drops it is positive for stocks.
Bottom line is that the perma bulls and talking heads need to grasp at anything to keep their thesis alive that things are good. Well they are not. Our rediculous American consumer has gotten himself in a horrible position, he can't afford his house payments, his SUV payments, the gas to put in his gas guzzler, the food to put on his table but yet he is still going to Best Buy and buying new laptops and flat screens. Who is a bigger joke, the talking heads or the American consumer?
Ranking Homebuilders by Discount to Book Value
To speak this way in January was one thing, but to still think at the end of June that we are headed for a strong second half in the economy and a stable second half in home builders is just nuts.
BZH ran from $5 to $12 from Jan to May, MTH from $8 to $24 in the same period. Where are they now? Wanting to buy into these beasts now is repeating the same mistakes. 2010 is when housing might bottom.
MTH and PHM have had nice little runs over the past few days and should be topping out soon in my opinion, next stop...new lows.
Pork Demand is Hog Wild While Supply Squeals