Comments on: Adjusted and Required Reserves

By: wunsacon

wunsacon — Fri, 21 Nov 2008 08:51:52 +0000

@ mark mchugh Says:
>> On CNBC, it looks like Nancy Pelosi is interpreting Paulson’s speech for the hearing impaired.

Is Pelosi interpreting Paulson like Garrett Morris would?

http://www.youtube.com/watch?v=0oKaGvHqhq8

By: DP

DP — Fri, 21 Nov 2008 02:48:22 +0000

Oh I forgot my silver lining, wanting to get this “great news!” out there before CNBC do:

In actual point terms, the S&P cannot fall further from the top than it already has. We really are closer to the bottom than we are to the top, and we’re closer to the bottom than we were yesterday. Happy day :)

By: DP

DP — Fri, 21 Nov 2008 02:30:44 +0000

Here’s a little piece of market irony. When GS was around 200, Goldman was calling for Oil the same price – $200.

Today, Oil touched just under 50, Goldman’s intraday low was 49. They’re in a race to 40 it seems – anyone taking bets on which gets there first? Long term, the world still needs oil. Long term, the world would be a better place without Goldman Sachs.

If one good thing comes out of all this, I hope it is the death of massive hedge funds. All those people pushing redemptions right now are out of the market, they may never return. I suspect a large number of those that do return will be a lot more interested in trusting their financial future to the only person who truly has it’s best interest in mind – themselves.

By: dogjawbull

dogjawbull — Fri, 21 Nov 2008 02:14:23 +0000

Damn

Scott in Chicago (still ultra short the SPs, but wishing I didn’t think I ought to be)

By: Pat G.

Pat G. — Fri, 21 Nov 2008 00:36:05 +0000

Gathering ammunition for the next wave of issues?

By: CNBC Sucks

CNBC Sucks — Thu, 20 Nov 2008 22:38:25 +0000

@bonghiteric: I didn’t think anyone paid attention to my posts.

@DL: I actually wrote about CNBC USA vs. CNBC Europe in the early days of my blog, 5 months ago: http://cnbcsucks.wordpress.com/2008/06/12/back-to-work/. I don’t know what is going on in the heads of the producers of CNBC USA, but they seem to want a network that caricatures American business. We are not the moneygrubbing, blindly optimistic, and extreme short-term focused idiots that one might think upon watching CNBC. Maybe they think this style draws viewers, but I would regularly watch a show of Ritholtzes.

@Barry (Ritholtz, not Obama): You should get your own show on CNBC. You can call it “Puttin’ on the Ritholtz” or “Buy and ritHoltz” or “Everything tastes better when it’s sitting on a Ritholtz”. OK, maybe not that last one.

Yeah, I suck.

By: DL

DL — Thu, 20 Nov 2008 21:51:28 +0000

leftback @ 4:42

“ if they are going to put smart people on, then Kernen should shut up and let them talk. They have done this repeatedly …”

I’ve been watching CNBC Europe on occasion lately (on @ 1:00 A.M.) They have a whole different attitude there. They do let the bears talk without interruption; they don’t seem intent on trying to brainwash the audience so much like their U.S. counterparts.

By: Byno

Byno — Thu, 20 Nov 2008 21:47:26 +0000

RBC overtakes C today in market cap. Bank of Nova Scotia not far away.

I’m a little dumbfounded.

By: DL

DL — Thu, 20 Nov 2008 21:44:57 +0000

DeDude @ 4:15

I’m not ready to “buy and hold” gold. But for selected entry and exit points, it looks interesting.
Alternatively, it could make sense as part of a “paired” trade, such as long GLD, short SPY; but I would wait for a 10% rally in SPY before putting this on.

By: leftback

leftback — Thu, 20 Nov 2008 21:42:47 +0000

@ bonghit: if they are going to put smart people on, then Kernen should shut up and let them talk. They have done this repeatedly with Dachille and Roubini. I am loving my short of high yield bonds, absolutely loving it. But I took some off today to short Treasuries. The buying of long-term govies this week has been insane.

Can you imagine being a long only fund guy or a “financial select” long fund guy today? Hide the cyanide…