Automobiles: The 2009 Detroit Auto Show
By Barry Ritholtz - January 14th, 2009, 11:15AM
Jerry Garrett surveys the show, where automakers envision an electric future.
The market does not beat them. They beat themselves, because though they have brains they cannot sit tight. ~Jesse Livermore
Macro Notes
CFTC data, euro net shorts fall 38%Peter Boockvar
According to the CFTC weekly data for the week ended Tuesday, net shorts in the euro fell by 38% from last week's record high and are now at a 6 week low. Net shorts in the pound moved up a touch to just shy of its record high. Net longs in the Australian$ rose to the most since May '08 and net longs in the Canadian$ rose to the highest since Nov '07. Gold new longs fell to a 4 week low. Net longs in crude rose 14% and are just 12k contracts from a record high dating back to...
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January 14th, 2009 at 12:02 pm
Surviving out there? I hope so. It’s time to buy the banks. My target of S&P 820 in 6 weeks was very good.
Picking up a bunch of XLF. Seeya in 6 weeks.
January 14th, 2009 at 1:55 pm
The automakers are finally getting it. Gas is so 20th century. I should run friggin’ GM. I told ‘em not to crush the EV1, but noooo they didn’t listen. They said nobody wanted them. Of course they didn’t, you couldn’t buy them, only pay a rip-off lease. Nobody would want a Carolla either if it had a $500 lease. Now they have to start from scratch. I could have saved the taxpayers billions and had this car out 10 years ago!
To all the naysayers, I live in urban sprawl (closest public transit drop off from work is a full mile, so that’ s not much of an option) and have only visited a gas pump once since October thanks to the 1985 tank from detroit that now runs on electrons using 70’s era technology. The fun weekend car really just is a fun weekend car now. This really isn’t that complicated… Build the damn cars, take a loss the first few years, and start raking in the dough. That’s how R&D works. Have we forgotten how to develop new things in this country? But, but, it won’t pencil the first year and the bean counters will wet their pants!