Comments on: Oracles of Doom

By: TrickStar

TrickStar — Wed, 10 Dec 2008 14:29:30 +0000

@Steve Barry – I don’t see anything wrong with Chuck offering you credit. Presumably, you’re a good risk. Credit isn’t inherently bad, so long as the risk assessment is solid. SCHW has a brokerage, a retail bank, they provide a business platform to small brokerages and retirement services for small companies. To their credit they had almost zero exposure to mortgage-backed securities.

Besides, if you’re a good risk, then the smartest thing SCHW can do is give you a line of credit to encourage you to spend us out of this downturn. GO STEVE GO!

By: TrickStar

TrickStar — Wed, 10 Dec 2008 14:23:12 +0000

@ben22 – you’re interpretation of Grantham’s article mirrors mine. in the video, he’s much less bullish and hedges comments on the downside. makes sense, given that the interview took place many weeks after he wrote the newsletter. so he’s less bullish.

By: Baille Beag

Baille Beag — Wed, 10 Dec 2008 13:30:05 +0000

Headline from CNBC.com just now:

“Stocks Pushed Hire By Auto Bailout”

What?

By: dead hobo

dead hobo — Wed, 10 Dec 2008 12:21:17 +0000

I invite the reader to “keep record” of my predictions and see for himself whether these things come to pass. — Criswell

“for the future is where you and I, whether we want to or not, will spend the rest of lives!” — Criswell

Now you’re in good company.

By: Laurent GUERBY

Laurent GUERBY — Wed, 10 Dec 2008 10:52:47 +0000

Dean Baker is the obvious omission from the list.

http://www.prospect.org/csnc/blogs/beat_the_press

By: A. Bailor of Calif

A. Bailor of Calif — Wed, 10 Dec 2008 07:47:28 +0000

Is Bill Fleckenstein closing his fund because he made so much money his clients are all rich and can retire. Or did he close the fund because of losses and redemtions?? Will we ever know.

By: eren

eren — Wed, 10 Dec 2008 06:32:10 +0000

i was 100% long till today. i am %60 percent cash now. and short an etf thru puts. it will be interesting to see if Ecuador defaults:

http://www.bloomberg.com/apps/news?pid=20601086&sid=a30EJxRNF7PY&refer=latin_america

if anybody knows about the banks exposure it is time to share :)

By: jimcos42

jimcos42 — Wed, 10 Dec 2008 06:27:08 +0000

A brief time-out to get back to the original topic of this entry: Oracles of Doom.

Does it occur to anyone besides me that this is the exact opposite of the kind of thing we might see at or near a market top? Where the Big Bulls run in all their (well-earned) glory, only to stumble shortly thereafter?

So maybe “Oracles of Doom” is, once again, media’s way of announcing that the best days of the bears are drawing to a close. Just take your favorite long-term chart(s), hold them up to a mirror and turn them upside down. What do you see now? It wasn’t that long ago where anyone who suggested the S&P500 might go under 500 would be laughed off the boards. Now, they’re taken seriously. Sounds all too easy. And when it’s easy, it’s over.

By: Steve Barry

Steve Barry — Wed, 10 Dec 2008 04:41:28 +0000

@Mannwich:

thanks…I easily see a scenario where S&P trades at .5 times sales of 900…or 450.

By: Mannwich

Mannwich — Wed, 10 Dec 2008 04:27:13 +0000

If anything remotely close to this scenario plays out, we’re all in for a longer, uglier ride than anyone is truly ready for……

There are many chapters remaining in this mess.

http://www.bloomberg.com/apps/news?pid=20601087&sid=a6iiap2DL_gQ&refer=home