Comments on: My Bad . . . http://www.ritholtz.com/blog/2009/02/my-bad/ Macro Perspective on the Capital Markets, Economy, Geopolitics, Technology, and Digital Media Tue, 14 Feb 2012 07:16:03 +0000 hourly 1 http://wordpress.org/?v=3.0.5 By: CPJ13 http://www.ritholtz.com/blog/2009/02/my-bad/comment-page-1/#comment-147499 CPJ13 Sat, 21 Feb 2009 17:08:41 +0000 http://www.ritholtz.com/blog/?p=19693#comment-147499 @ Thomas Do you really think that after all the assets and liabilities of these firms are tallied that there's even a cent of value in an equity share of C and BAC? And that's today's valuation. Lehman had a 140(ish) BILLION dollar hole in their balance sheet after equity holders were wiped out. C and BAC are exponentially bigger, exponentially more exposed to the consumer, exponentially more exposed to mortgages. Is this just a short term trade for you, or do you REALLY think that the 'equity' component of the cap stack at those banks is worth anything? @ Thomas

Do you really think that after all the assets and liabilities of these firms are tallied that there’s even a cent of value in an equity share of C and BAC? And that’s today’s valuation. Lehman had a 140(ish) BILLION dollar hole in their balance sheet after equity holders were wiped out. C and BAC are exponentially bigger, exponentially more exposed to the consumer, exponentially more exposed to mortgages. Is this just a short term trade for you, or do you REALLY think that the ‘equity’ component of the cap stack at those banks is worth anything?

]]> By: texasradio http://www.ritholtz.com/blog/2009/02/my-bad/comment-page-1/#comment-147466 texasradio Sat, 21 Feb 2009 15:11:15 +0000 http://www.ritholtz.com/blog/?p=19693#comment-147466 @Justin Your $5,000 and change price prediction (to be achieved in '09, no less) sounded preposterous, at first. But, imagination is the key to investing success and I had to wonder what would cause you to be correct. Unfortunately, I could only imagine more questions, and they are questions that I am ill-equipped to answer. To wit: What does the OTC derivative payout picture look like if the big banks are bankrupted or nationalized? Would there be a chain reaction in related derivatives? Unrelated derivatives? Government debt? @gold worriers - Now you have something to worry about, and it's not a declining gold price. @Justin
Your $5,000 and change price prediction (to be achieved in ’09, no less) sounded preposterous, at first. But, imagination is the key to investing success and I had to wonder what would cause you to be correct. Unfortunately, I could only imagine more questions, and they are questions that I am ill-equipped to answer. To wit:

What does the OTC derivative payout picture look like if the big banks are bankrupted or nationalized? Would there be a chain reaction in related derivatives? Unrelated derivatives? Government debt?

@gold worriers – Now you have something to worry about, and it’s not a declining gold price.

]]> By: dunnage http://www.ritholtz.com/blog/2009/02/my-bad/comment-page-1/#comment-147453 dunnage Sat, 21 Feb 2009 10:47:05 +0000 http://www.ritholtz.com/blog/?p=19693#comment-147453 Well, I actually wonder if Goldman Sachs is preferable to Chavez. Can't say either has much do do with capitalism. As far a nationalization being a problem, then give them nothing. No reason not to be fair. Chase and Wells and Goldman, we wish they were 0 zere 0. Well, I actually wonder if Goldman Sachs is preferable to Chavez. Can’t say either has much do do with capitalism. As far a nationalization being a problem, then give them nothing. No reason not to be fair. Chase and Wells and Goldman, we wish they were 0 zere 0.

]]> By: Thomas http://www.ritholtz.com/blog/2009/02/my-bad/comment-page-1/#comment-147448 Thomas Sat, 21 Feb 2009 06:17:19 +0000 http://www.ritholtz.com/blog/?p=19693#comment-147448 The “bank nationalization” hysteria is as silly as the “we are running out of oil” mania that we had last summer – an amazing groupthink mentality (stupidity). I was expecting such silly comments from Hugo Chavez but not from Barry Ritholtz. Sigh… Disclaimer: I have bought Citi @ $1.75-1.85; BAC @ $2.60-2.80; WFC @ $8.90-9.10 today. The “bank nationalization” hysteria is as silly as the “we are running out of oil” mania that we had last summer – an amazing groupthink mentality (stupidity).

I was expecting such silly comments from Hugo Chavez but not from Barry Ritholtz.
Sigh…

Disclaimer: I have bought Citi @ $1.75-1.85; BAC @ $2.60-2.80; WFC @ $8.90-9.10 today.

]]> By: JoWriter http://www.ritholtz.com/blog/2009/02/my-bad/comment-page-1/#comment-147444 JoWriter Sat, 21 Feb 2009 05:43:08 +0000 http://www.ritholtz.com/blog/?p=19693#comment-147444 @ Karen Quoting headline: Soros sees no bottom for world financial “collapse” Isn't he the genius who is "eyeing potential opportunities" in NIGERIA!!! from WSU online Deal Journal: "George Soros: His $20 billion hedge fund is eyeing potential opportunities in Nigeria’s banking sector. [FT.com]" I'll bet he's short every stock in the U.S. Just sayin' @ Karen
Quoting headline: Soros sees no bottom for world financial “collapse”

Isn’t he the genius who is “eyeing potential opportunities” in NIGERIA!!!

from WSU online Deal Journal: “George Soros: His $20 billion hedge fund is eyeing potential opportunities in Nigeria’s banking sector. [FT.com]”

I’ll bet he’s short every stock in the U.S.

Just sayin’

]]> By: DL http://www.ritholtz.com/blog/2009/02/my-bad/comment-page-1/#comment-147443 DL Sat, 21 Feb 2009 05:42:55 +0000 http://www.ritholtz.com/blog/?p=19693#comment-147443 BR @ 4:00 P.M. 636 items…! BR @ 4:00 P.M.

636 items…!

]]> By: Brendan http://www.ritholtz.com/blog/2009/02/my-bad/comment-page-1/#comment-147432 Brendan Sat, 21 Feb 2009 03:48:58 +0000 http://www.ritholtz.com/blog/?p=19693#comment-147432 BR, At this rate, pretty soon you're gonna' have a mindless cult following like those cable business network guys - people will be jumping off of bridges as soon as you say the word! :) I guess I still don't get the gold thing. Seems like playing red on roulette at this point. Could double, could continue to play but sooner or later the house's odds advantage is bound to catch up with you and your stash is gonna' go down unless you walk at just the right time. Only difference is roulette is way more fun and you get free watered down drinks! It's purely a gamble at this point, I don't get how anyone can say with certainty where it's going to go. BR,

At this rate, pretty soon you’re gonna’ have a mindless cult following like those cable business network guys – people will be jumping off of bridges as soon as you say the word! :)

I guess I still don’t get the gold thing. Seems like playing red on roulette at this point. Could double, could continue to play but sooner or later the house’s odds advantage is bound to catch up with you and your stash is gonna’ go down unless you walk at just the right time. Only difference is roulette is way more fun and you get free watered down drinks! It’s purely a gamble at this point, I don’t get how anyone can say with certainty where it’s going to go.

]]> By: CaptiousNut http://www.ritholtz.com/blog/2009/02/my-bad/comment-page-1/#comment-147421 CaptiousNut Sat, 21 Feb 2009 02:35:31 +0000 http://www.ritholtz.com/blog/?p=19693#comment-147421 BR, I didn't see your *call* until later, around lunchtime. That's when I <a href="http://marginalizingmorons.blogspot.com/2009/02/3-bonehead-trades-today.html" rel="nofollow">bought</a> Feb 210 puts in SKF at $4 apiece. Thanks bro! BR,

I didn’t see your *call* until later, around lunchtime. That’s when I bought Feb 210 puts in SKF at $4 apiece.

Thanks bro!

]]> By: Pat G. http://www.ritholtz.com/blog/2009/02/my-bad/comment-page-1/#comment-147419 Pat G. Sat, 21 Feb 2009 02:28:50 +0000 http://www.ritholtz.com/blog/?p=19693#comment-147419 @ ottovbvs: "or maybe it’s a misplaced sentimental attachment to free market principles" Free market principles? What are you smoking? @ ottovbvs: “or maybe it’s a misplaced sentimental attachment to free market principles”

Free market principles? What are you smoking?

]]> By: ottovbvs http://www.ritholtz.com/blog/2009/02/my-bad/comment-page-1/#comment-147418 ottovbvs Sat, 21 Feb 2009 02:22:56 +0000 http://www.ritholtz.com/blog/?p=19693#comment-147418 When you guys have finished the gig here they've got some great openings with the three witches in Macbeth. @Pat G. Says: "You’re only telling it like it is. The banks are effectively nationalized now with our money. Time to shoot the mortally wounded, get them the hell off the Street and get on with our lives. Our government is not that lame that they don’t realize this…just too conflicted/corrupted." .........Ever ask yourself why.... if its the get out of jail free card.... they haven't they done it already....oh yes...you said.... they're just too conflicted/corrupted....well that makes a lot of sense.....or maybe it's a misplaced sentimental attachment to free market principles....oh yeah...that's it probably. When you guys have finished the gig here they’ve got some great openings with the three witches in Macbeth.

@Pat G. Says:

“You’re only telling it like it is. The banks are effectively nationalized now with our money. Time to shoot the mortally wounded, get them the hell off the Street and get on with our lives. Our government is not that lame that they don’t realize this…just too conflicted/corrupted.”

………Ever ask yourself why…. if its the get out of jail free card…. they haven’t they done it already….oh yes…you said…. they’re just too conflicted/corrupted….well that makes a lot of sense…..or maybe it’s a misplaced sentimental attachment to free market principles….oh yeah…that’s it probably.

]]>