Comments on: Gasparino vs Einhorn, Kohn & Ritholtz

By: michael schumacher

michael schumacher — Fri, 06 Jun 2008 14:29:41 +0000

yes I’m totally crazy but think about what that says about you , arthur…that you have read them but made your decision on it’s content solely on the basis of the author.

Good luck with that.

Ciao
MS

By: Arthur

Arthur — Fri, 06 Jun 2008 14:07:11 +0000

Hey Barry, wondering if you wouldn’t mind identifying comments by Monsieur Schumacher at the TOP of his missives so I could more ably skip them. thanks
A

By: michael schumacher

michael schumacher — Fri, 06 Jun 2008 13:51:58 +0000

Barry-

making it about my “misunderstanding” instead of your lack of clarity-which was easily seen but I gather you have to want to see it… and flippant response back is where to start. Not about your disclosure policy (may be your other readers didn’t catch the “idiot-proof” comment however that’s where the problem began). Instead of saying “hey I made a bad call” you’ve decided to make this about my understanding. That’s no different than Kudlow, Gasparino, and the pundits of the world.

Regardless of the call it was wrong and your public response to my questions tells me all I need to know about how you really feel about it.

You and your “product” made a bad call…..man up to it.

That’s all….making it my problem is laughable…..remember I didn’t post the chart you did.

Ciao
MS

By: Mike in NOLA

Mike in NOLA — Fri, 06 Jun 2008 06:02:30 +0000

I think this tells us something about the honesty of accounting on Wall Street:

“Of the $387bn in credit losses that global banks have reported since the start of 2007, $200bn was suffered by European groups and $166bn by US banks, according to the Institute of International Finance, a Washington-based banking group.”

http://ftalphaville.ft.com/blog/2008/06/06/13602/european-banks-harder-hit-by-credit-crunch/?source=rss

By: Darin

Darin — Fri, 06 Jun 2008 05:30:34 +0000

I thought Gasparino was struggling during the interview. I heard this morning on XM radio and found his reasoning lacking. When the host asked him whether people would have said the same thing as he tried to defend LEH’s management by saying that their CEO was actively engaged trying to solve this problem versus the actions of Jimmy Kane (SP?), I thought he really started stretching. Einhorn may not have presented the best possible case, but the fact remains that LEH has yet to reconcile its balance sheet with the full magnitude of their loses. They will obviously be returning to shore up their capital ratios. I particulary found it troubling that “Gasbag” felt the need to attack Barry and Einhorn so vigorously simply because the premise of his entire argument was that management was working the problem. How many times has that been said before?

By: Eric

Eric — Fri, 06 Jun 2008 03:43:22 +0000

Folks, Lehman Brothers has jumped the shark.

Q. What is jumping the shark?
A. It’s a moment. A defining moment when you know that your favorite television program has reached its peak. That instant that you know from now on…it’s all downhill. Some call it the climax. We call it “Jumping the Shark.” From that moment on, the program will simply never be the same.
The term “jump the shark” was coined by site founder Jon Hein's college roommate of 4 years, Sean J. Connolly, in Ann Arbor, Michigan back in 1985. This web site, book, film, and all other material surrounding shark jumping, are hereby dedicated to “the Colonel.”

The aforementioned expression refers to the telltale sign of the demise of Happy Days, our favorite example, when Fonzie actually “jumped the shark.” The rest is history.

Jumping the shark applies not only to TV, but also music, film, even everyday life and Lehman Brothers. “Did you see her boyfriend? She definitely jumped the shark.” You get the idea.

By: Barry Ritholtz

Barry Ritholtz — Fri, 06 Jun 2008 01:52:46 +0000

STRONG BUY
BUY
HOLD
NEUTRAL
SELL
SELL SHORT

These each mean something different; A buy is not a hold, and a sell is not a sell short.

Again, I am not sure where your misunderstanding comes from — I do not believe I said this SHORT Lehman (like we did with Fannie Mae) — but since both you and Charlie Gasparino mistook what I wrote for a short, I will endeavor to be EVEN MORE precise in the future.

By: lurker

lurker — Fri, 06 Jun 2008 00:30:01 +0000

thanks booyah, could not have said it better myself… and Vermont Trader i hear you loud and clear my friend…. thanks for posting.

By: booyah

booyah — Fri, 06 Jun 2008 00:20:01 +0000

michael schumacher what is your deal? Why are you picking such a dumb fight. If you issue a “sell” on a stock, that means sell it and don’t own it. If you interpret that as sell short, that’s your problem, not Barry’s. Obviously some people will short a stock that has a sell on it too but that’s different. Give it a rest!

By: Periwinkle

Periwinkle — Fri, 06 Jun 2008 00:19:26 +0000

This is why they sold non-cumulative preferreds this spring. They knew then that they would be reporting a loss