This morning, I’ll be guest hosting Morning Call on CNBC, from 11:00am to 12 noon.
On today’s agenda:
– Yesterday’s FED cuts; todays Liquidity injection
– Citigroup’s new CEO/Chairman
– Holiday shopping season
-Inflation, Consumer Prices, Home Sector
Previously on this segment, (10/22), I warned against exposure in the Financial sector — and that turned out to be a terrific call. Are the Financials cheap yet?
they are if we keep getting cash injections, fed action, and govt sponsored programs!
other than that, the books of these financials are still in disarray with billions of writedowns still ahead of us. We havent even had problems with hybrid arms, option arms, alt-a, prime, helocs, credit cards, auto loans, yet. Narrow minded to think this is a subprime problem.
This is a mortgage & loan problem all around! And that risk was dispersed globally and we are yet to see major hits oversees. Im sure its coming. Sell rallies in financials. Buy SKF on big dips!
Thanks for calling out your good calls. Your modesty is overwhelming!
~~~
BR: Bob,
I write over 10,000 words a week, covering a myriad of topics, in the face of ongoing data changes and new facts.
I have a parade of trolls and asshats that take what I say out of context, nitpick, and misrepresent every other thing I say. My initial reaction is that you may very well be one of those asshats.
Please prove that impression wrong . . .
~~~
UPDATE: Fake email address? Buh-bye . . .
This should be interesting. I’ll be watching.
Greenie says:
Ididn’tdoitnobodysawmedoityoucan’tproveanything
It was that damn Cold War !
CNBC LINK
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WHOOPS !
CNBC LINK
(That’s what I get for trying to rush out the door)
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Only if you believe that a)Housing will bottom within the next year so more pressures on debt derivatives dries up, b) all the bad news not yet fessed up to is still priced into the stocks anyway and c) none of the other asset classes and related debt instruments have any of the same structural deficiencies despite having been constructed with the same tools and materials.
So if your name is Lewis or Branson and your investment horizon is 5-10 years the next 18 months will be a strategic buying opportunity. Or if you’re a bit of a gambler the next days/weeks are a short-term trading opportunity.
Me personally you ask ? Other than a ten foot pole sometime next summer as this credit crisis becomes better understood and we see how everybody but Goldman re-structures their organizations and operations.
Nice job as always, BR. I wonder, though, about infrastructure plays, at least domestically. No question the infrastructure is crumbling, but no one wants to pay for it. Not through property taxes, user fees, nothing. Kudlow and Norquist insist all problems are solved through tax cuts, except that leaves the states and locals holding the bag to fix the bridges. The rebuilding of America ain’t gonna happen until the free-lunch crowd faces reality.
NO!!!!
and neither’s anything else
rgds pcm
The ole boys are startin to talk about the legend of ole Ben Bernanke:
THE BALLAD OF THE FED CHAIRMAN
(Set to the musical Stylings of Jerry Reeds ‘Eastbound and Down.’)
East bound and down, loaded up and truckin’,
we’re gonna do what they say can’t be done.
We’ve got a long way to go and a short time to get there.
I’m east bound, just watch ol’ “Bernanke” run.
Keep your foot hard on the pedal. Son, never mind them brakes.
Let it all hang out ’cause we got a run to make.
The banks are broke and there’s money out there to make.
And Ben’ll bring it back no matter what it takes.
East bound and down, loaded up and truckin’,
we’re gonna do what they say can’t be done.
We’ve got a long way to go and a short time to get there.
I’m east bound, just watch ol’ “Bernanke” run.
East bound and down, loaded up and truckin’,
we’re gonna do what they say can’t be done.
We’ve got a long way to go and a short time to get there.
I’m east bound, just watch ol’ “Bernanke” run.
Ol’ Barry Ritholtz got them ears on and he’s hot on your trail.
He aint gonna rest ’til you tell da tale.
So you got to dodge ‘im and you got to duck ‘im,
you got to keep that diesel truckin’.
Just put that hammer down and give it hell.
East bound and down, loaded up and truckin’,
we’re gonna do what they say can’t be done.
We’ve got a long way to go and a short time to get there.
I’m east bound, just watch ol’ “Bernanke” run.
Greenspan is a coward, refusing to take the blame for his mistakes. This has been typical behavior seen in our leaders for a long time. No wonder we have a country were people want to get bailed out for acting foolishly. It is never your own fault anymore, why should you face the consequences.