In Defense Of Speculators

This morning’s Ahead of the Tape column in the WSJ discusses the absurdity of targeting short-sellers during downturns.

"Some free markets are apparently freer than others: The price of oil is free to fall, while the stock price of a bank is free to rise.

That is one takeaway from Washington’s recent response to market turmoil. By singling out "speculators" who want to push bank stocks down and oil prices up, lawmakers and policy makers reinforce a message that the free market is a wonderful thing as long as it isn’t going against you.

It is a potentially slippery slope."

Apparently, Free markets means free to go up only . . .

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Source:
Easy Targets: In Defense Of Speculators
MARK GONGLOFF 
WSJ, July 17, 2008; Page C1 
http://online.wsj.com/article/SB121625520953660253.html

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Category: Markets, Short Selling, Trading

The Psychology of Selling

Category: Apprenticed Investor, Markets, Psychology, Real Estate, Trading

William Ackman on Fannie & Freddie

Unveiling his plans to save the lenders, with William Ackman, Pershing Square Capital Management managing partner

click for video
Ackman_on_fannie

"This is a conservatorship, which is a good thing, because you can accomplish it more efficiently," Ackman said.

Part II
click and scroll down
Ackman_ii

Sources:
Ackman: A Plan to Save Fannie & Freddie
CNBC.com | 15 Jul 2008 | 10:30 AM
http://www.cnbc.com//id/25685589

Slideshow
http://www.cnbc.com/id/25688918/site/14081545/

Category: Credit, Video

Bernanke Word Cloud

Category: Federal Reserve, Weblogs

Wild Times on Wall Street

I did three segments Tuesday on Yahoo Tech Ticker at the Nasdaq: 

Here is the first, on closing shorts and getting a bounce:

Click for video

We ran out of time, but I was going to discuss the infrastructure plays also . . .

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Source:
Wild Times on Wall Street: What Now for Investors?   
Aaron Task
Yahoo Tech Ticker, Jul 15, 2008 07:00am EDT
http://finance.yahoo.com/tech-ticker/article/39407/Wild-Times-on-Wall-Street-What-Now-for-Investors

Category: Contrary Indicators, Markets, Trading, Video

Housing Market Index (HMI) Falls to New Lows

Category: Economy, Employment, Real Estate

Consumer Prices Surge Most Since 2005 (Not 1982)

Category: Data Analysis, Inflation

Consumer Prices Surge Most Since ’82

Category: Data Analysis, Inflation

U.S. Interest Rates & Inflation

Category: Federal Reserve, Fixed Income/Interest Rates, Inflation

Idiots Fiddle While Rome Burns

Category: Credit, Derivatives, Federal Reserve, Politics, Taxes and Policy