As WSJ’s David Gaffen recounts, it was such an ugly year on Wall Street that trading on the stock market may never be the same again.
12/9/2008
In any great organization it is far, far safer to be wrong with the majority than to be right alone. —John Kenneth Galbraith
Asian currencies continue to sell off vs the $ on the heels of the news yesterday that South Korea said they will look into hot money inflows stemming from the $ carry trade and the Bank of Indonesia said they are looking into the foreign buying of bills. This follows the news a few weeks ago that Taiwan was limiting foreign deposit holdings and Brazil was taxing foreign inflow transactions. As I mentioned yesterday, we may have reached a short term pain threshold in terms of $ weakness and foreign countries are fighting back as they certainly won't wait for...
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December 10th, 2008 at 6:59 pm
Things you can go long or make money at:
Lying, Cheating, malfeasanse, corruption, Its not my fault, I didnt do it, Ineptness, I thought you were watching that.
Things you loose money at or go short:
Dollar Cost averaging, common sense, honesty, integrity, trustwortyness, honesty, morals, values.
December 10th, 2008 at 9:25 pm
Tonight for you we have, straight from our studios in New York
An incredibly sincerely and forcefully delivered collection of extremely obvious observations, and historical anecdotes that provide precisely zero useful, or uknown information followed finally by a bland and optimistic hope rooted primarily in the business interests of the owners of the media outlet
Now a brief, 10 minute or so, pause, wherein the people who actually pay for this drivel will attempt to sucker you into purchasing something that the pseudo information we provide seems to provide some kind of imitation of a reason for why you might want to buy it. But don’t change the channel, we’ll be back shortly with more rear view mirror looks that will leave you completely unprepared for the events shaping tomorrow.
Good Night, and Good Luck