On Book Deadline!
By Barry Ritholtz - December 15th, 2008, 11:07AM
No posts this morning!
~~~
Update: That bad boy is in the publishers hands!
Excuse me, while I go throw up . . .
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Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
December 15th, 2008 at 11:17 am
Down to the wire. The American way to operate, LOL.
December 15th, 2008 at 11:26 am
American way to operate? Only if any advance on the book has been leveraged * 10 and put into goat milk futures, which were then used as collateral to finance a nice home on a lake which was immediately used for a HELOC, drawn down, leveraged * 10 and put into antelope milk futures which were used as collateral for…
December 15th, 2008 at 11:33 am
Hope it’s printed on recycled paper. :)
Or is going green over since the price of oil is way, way down?
December 15th, 2008 at 11:37 am
I’m covered. That fall was very quick and I’ll take it.
December 15th, 2008 at 11:48 am
Speaking of the Book, I’m hoping you did TM the Title…
As others have mentioned, ol’ CrudBlow is using it incessantly, something needs to tear it out of his mouth..
December 15th, 2008 at 12:04 pm
Bailoutnation.com was registered on March 15th and redirects to the old TBP blog site (don’t forget to update that BR!).
While a domain registration implies no trademark ownership it does clearly demonstrate prior use, not to mention the book itself.
Anyway, I’m not so convinced Kudlow is just randomly spouting “Bailout Nation” every chance he gets or if BR owes him a nice lunch :)
December 15th, 2008 at 12:06 pm
For those Arena Football fans (all 3 of you), the 2009 season has been suspended due to economic condititions. I kid you not.
December 15th, 2008 at 12:08 pm
@JM: I’ve been holding QID as a hedge. Took this morning’s pop to get out (at a slight loss). Don’t want to mess with the dividend issue. Last year it was 12/20.
December 15th, 2008 at 12:19 pm
Mannwich:
If Tirico and Kornheiser are doing their job, they ask Jaws about it tonight. Maybe they’ll even have Bon Jovi on, since he loves to pimp his team(to the point of annoying) every chance he gets.
December 15th, 2008 at 12:19 pm
Bulls and bears can both make money today, at the same time!
SRS up 4.5% and URE up 5.2%. Nice!
December 15th, 2008 at 12:24 pm
Anybody think buyers will get excited if the Feds cuts tomorrow as expected? What would it take? 50 bips?
December 15th, 2008 at 12:27 pm
It doesn’t cease to amaze me how much people will overpay for options in this market.
December 15th, 2008 at 12:31 pm
I’m also thankful that hedge funds had their own circuit breakers when it came to redemptions. Otherwise this would have been much worse. I still think the market is too high here though and it will fix itself in the next earnings cycle.
December 15th, 2008 at 12:34 pm
jmborchers @ 12:27
Well then take the other side of the trade.
December 15th, 2008 at 12:42 pm
KJ,
Real FF have been near zero for the last month so anything the Fed does won’t really matter; however, if the Fed drops to 0-.25% it would probably be read as a sign of impending quantitative easing and gold could skyrocket.
December 15th, 2008 at 12:45 pm
Well, I hope you sell more books than Charles Dickens.
I will say that your post about the coming mortgage storm from this weekend was especially troubling…I watched it twice..seems to me you can’t print enough money if this many people are going belly up with their homes.
And Mannwich…Nascar and Major League Baseball have announced changes next year due to the economy too…
December 15th, 2008 at 12:49 pm
Bruce @ 12:45
“seems to me you can’t print enough money if this many people are going belly up with their homes”
Printing money doesn’t solve everything… just look at Zimbabwe.
Print enough of it, however, and commodities will respond.
December 15th, 2008 at 12:50 pm
Thanks WM, sounds about right. The USD has been crumbling recently and gold is looking good.
I guess equities are waiting for the auto bailout then. But I’m thinking that must be mostly priced in too. Even with all the bankruptcy talk, I can’t imagine Wall Street is buying into that very much.
December 15th, 2008 at 12:53 pm
@Bruce N Tenn: Apparently the Evil Empire, also known as the New York Yankees didn’t get the memo. Now I know they’re the “Yankees” and have tons of cash, but me-thinks they’re being foolish in underestimating the severity of this mess as it will even affect them over the next few years……..
Full disclosure: Born and bred in Mass (29 years there), I’m a diehard Red Sox fan and loathe the Yankees, so I am a tad biased although they’re strategy of buying players hasn’t worked so well for the last 8 years hasn’t exactly paid off (TB’s entire payroll was less than A-Rod’s salary), so I think I’m right here. ;-)
December 15th, 2008 at 1:31 pm
Sort of an open thread here so I thought I would put forward the most interesting that happened today…at least from my perspective.
MGM sells the Treasure Island Hotel for several hundred million bucks!
This, ladies and gentleman, is how it is supposed to WORK! There are trillions of dollars out there waiting to snatch up assets on the cheap. The dollars are waiting on two things: 1) price to get cheap enough and 2) government out of the way. Obviously, there is no risk of Hank Paulson coming in to the casino biz to screw around, so we got the market clearing price for casinos in distress. The weak players who mismanaged their debt and assets were forced to puke out some of their assets at a distressed price to raise liquidity. Meanwhile, the smarter money who was in cash can now takeover.
This is the way the system is supposed to work.
- AT
December 15th, 2008 at 1:46 pm
@Dp — what are these “milk futures” and how can I get in on them?
December 15th, 2008 at 1:47 pm
You can’t TM or copyright a book title, sorry.
December 15th, 2008 at 2:10 pm
Mannwich:
I guess you didn’t get the memo…The Yankees have applied for TARP funds. Jeter and A-Rod are going to be the drive in bank…
:)
December 15th, 2008 at 2:11 pm
@ Bruce: Unless you own an oil field, gold or silver mine and a farm of your own out there in Eastern TN you will probably want to buy commodity stocks at some point in the near future. I am expecting a big sell-off by liquidating hedgies in Jan and Feb amid another bout of deleveraging and then I am going to get REALLY long in the commodity space. Last week’s dive in the $ is just the beginning.
December 15th, 2008 at 2:12 pm
@Bruce N Tenn: LOL. That wouldn’t surprise me, although I had been secretly hoping that the Steinbrenner family money was with Madoff.
December 15th, 2008 at 2:19 pm
lb,
I only hope we’re not too cute, by half, by expecting another down leg in early ’09..
the USDX is, already, back to 82.25..
December 15th, 2008 at 3:36 pm
Mannwich:
Here is one of the articles on the AFL…and they are quitting business.
But you can see how many other sports are going to be affected. Escapism may take a holiday.
http://outsports.com/jocktalkblog/2008/12/15/arena-football-latest-victim-of-recession/
December 15th, 2008 at 3:40 pm
@Bruce N Tenn: When people stop or significantly reduce spending on sports, one of the most recession-proof businesses (or so we thought) there is, then we know something different is happening.
December 15th, 2008 at 6:35 pm
Back to the topic: Barry, congratulations!
Scott
December 15th, 2008 at 8:22 pm
Congratulations, Barry!
I’m sure it’s nothing short of great. I think you should sell autographed copies directly to the peanut gallery.
December 16th, 2008 at 1:04 am
I will be getting a copy… congrats, no small feat hitting a book deadline like that.