First Bear Sterns, then Freddie and Fannie, now Lehman - who's next: Merrill Lynch maybe.
Wall-street and US banks used to pride themselves as most well-run banks and world used to envy US financial system similar to the way world envy Silicon Valley...
But current credit-crisis really shaken this confidence and now that US government (thanks to Bush and Paulson) are nationalizing and bailing out various banks, why not nationalize the wall-street similar to what Venezuela's Chavez did with oil companies...
I know I am writing this with a sarcasm but I never imagined that things would turn down so quickly (I was so wrong in recommending LEH in my recent posts). I am sure we are somewhere near the bottom but not sure what other shoes are going to fall before things calm down again.
I remember the week when markets opened post 9/11 attacks - it was brutal market but it was expected due to unexpected shocks caused due to 9/11 attacks on WTC. The recent crisis in stock markets is completely self-made in Washington and Wall-street and now these companies are paying price for it.
Oil has reached nearly $100 as I predicted - looks like hedge funds lost lot of money in commodities which they are trying to make up by shorting financial stocks like LEH, WM, AIG and MER. They better be careful since this downturn can turn upwards anytime and again they would lose their shirts.
/Shyam
Wall-street and US banks used to pride themselves as most well-run banks and world used to envy US financial system similar to the way world envy Silicon Valley...
But current credit-crisis really shaken this confidence and now that US government (thanks to Bush and Paulson) are nationalizing and bailing out various banks, why not nationalize the wall-street similar to what Venezuela's Chavez did with oil companies...
I know I am writing this with a sarcasm but I never imagined that things would turn down so quickly (I was so wrong in recommending LEH in my recent posts). I am sure we are somewhere near the bottom but not sure what other shoes are going to fall before things calm down again.
I remember the week when markets opened post 9/11 attacks - it was brutal market but it was expected due to unexpected shocks caused due to 9/11 attacks on WTC. The recent crisis in stock markets is completely self-made in Washington and Wall-street and now these companies are paying price for it.
Oil has reached nearly $100 as I predicted - looks like hedge funds lost lot of money in commodities which they are trying to make up by shorting financial stocks like LEH, WM, AIG and MER. They better be careful since this downturn can turn upwards anytime and again they would lose their shirts.
/Shyam
Comments
was there some cat here that used to leave comments on your blog who has been pretty much dead on in his warning???
wanna make a gentleman's bet that spx sees 1070 before 1350
hey you give me 2 to one and ill bet you we see $spx 999 before end of 2010
was not deflation what i called for...do they not teach that at UCB???
you no longer like to converse??? why you dont want to discuss the logic of your calls???
I did warn you not to become a CRAMER
dont mean to rub your nose in the pooh but credit goes where credit is due and to ignore would just be sheer ignorance IMO
https://www.blogger.com/comment.g?blogID=10694851&postID=370611101451539129
this is most recent
go back and youll see I was talking about turd financials
namely WB WM meanwhile you were busy dismissing facts for your rose colored glasses
hey you want some shiz spy hits 126.34 buy SPY WT
short Q on any strength QQQ MO is my fav and IWM is a good bet to buy jan 09 puts