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From HedgeFolios.com - view blog entries - visit this blogMay 16, 2008 at 2:54 pm ET
Fannie’s decision to lower downpayments is idiotic but not surprising. Our credit crisis was partially brought on by a Fed that kept rates too low so as part of their hair of the dog ... ( more)
From HedgeFolios.com - view blog entries - visit this blogMay 16, 2008 at 2:41 pm ET
I won’t remind you about my warnings that the central bankers have taken on dangerous collateral in their desperate attempt to fix the credit crisis. I won’t even bother suggesting that they created a significant ... ( more)
From HedgeFolios.com - view blog entries - visit this blogMay 16, 2008 at 2:35 pm ET
Since many financial stocks have huge losses negative earnings, it’s tough to use some of the common valuation metrics like Price-to-Earnings. Lately, the crowd that loves to repeatedly proclaim that the worst of the ... ( more)
From HedgeFolios.com - view blog entries - visit this blogMay 14, 2008 at 12:42 pm ET
Today’s CPI number is entirely unbelievable. However, it is a trading opportunity. The market is dominated by traders and not investors. So stop asking why this bogus inflation number is being believed ... ( more)
From HedgeFolios.com - view blog entries - visit this blogMay 13, 2008 at 7:04 pm ET
I shipped a package from a UPS store today and asked the management whether their business was being affected by the economy in any way. I was told that the shipping business was doing well ... ( more)
From HedgeFolios.com - view blog entries - visit this blogMay 12, 2008 at 12:22 am ET
Since mid-March and the Bear Stearns bailout, the market has been remarkably strong…until now. There was a lot of damage done last week. Unless there is some positive catalyst or an unexpected show of force ... ( more)
From HedgeFolios.com - view blog entries - visit this blogMay 9, 2008 at 1:21 pm ET
A creditor who refrains from enforcing a debt when it falls due is giving “forbearance.” How many forbearance agreements can one company get?
As long as the creditors benefit more from waiting than they do ... ( more)
From HedgeFolios.com - view blog entries - visit this blogMay 8, 2008 at 12:45 pm ET
Chairman Bernanke and other politicians have repeatedly suggested that the mortgage lenders should “forgive” a portion of troubled home loans. I struggle with the term “forgive.” In my world, you “forgive” people that are guilty ... ( more)
From HedgeFolios.com - view blog entries - visit this blogMay 8, 2008 at 12:12 pm ET
In defense of Senator Clinton’s scheme of providing a gas tax holiday, CNBC’s Steve Liesman just went about as socialist as I have ever heard one of its “journalists” opine. For the record (one ... ( more)
From HedgeFolios.com - view blog entries - visit this blogMay 8, 2008 at 9:12 am ET
There has been a decline in my posting for the past month. In the next few days, there will be a surge. It is not a trend. It’s more like a capitulation.
© Mike for HedgeFolios.com, ... ( more)
From HedgeFolios.com - view blog entries - visit this blogMay 8, 2008 at 9:07 am ET
Last fall, the bulls tried to hype Black Friday retail sales and every once in a while, a Wal-Mart report gets spun as evidence that the consumer is doing great. The same thing goes ... ( more)
From HedgeFolios.com - view blog entries - visit this blogMay 4, 2008 at 10:15 pm ET
After rereading my previous post about getting “Yahooed“, I realize it seems that I expect YHOO will get whacked tomorrow. While that is certainly my guess, there is no guarantee. Over ... ( more)
From HedgeFolios.com - view blog entries - visit this blogMay 4, 2008 at 6:43 pm ET
Yahooed - as in… You’ve been “Yahooed.” This is what happens to an investor when the their stock price gets hammered by someone being greedy. And by “someone” - I mean a group ... ( more)
From HedgeFolios.com - view blog entries - visit this blogMay 3, 2008 at 3:48 pm ET
A friend of mine was telling me today about his frustration with one of his positions that went bad. He suggested that it had so discouraged him from trading that he was going to ... ( more)
From HedgeFolios.com - view blog entries - visit this blogMay 2, 2008 at 12:54 pm ET
“A Better Than Expected Jobs Report” - I have heard that line over and over today. It’s a nice spin, but it is not reality. At least, not my reality. In ... ( more)
From HedgeFolios.com - view blog entries - visit this blogMay 1, 2008 at 9:47 am ET
HEDGEfolios year-to-date stock performance for 2008 (through 04/30/08 close) was up 9.08%.
Over the same time period, the S&P 500 index was down -5.61%.
At the end of April, the HEDGEfolios universe consisted of 3,433 stocks.
Commentary: April ... ( more)
From HedgeFolios.com - view blog entries - visit this blogApril 30, 2008 at 2:35 am ET
Investment Banking executives remind me of President George H.W. Bush (#41) when he uttered those regrettable words “Read my lips…NO NEW TAXES.” Except the current group is just making promises that they don’t need ... ( more)
From HedgeFolios.com - view blog entries - visit this blogApril 28, 2008 at 2:34 pm ET
A recent post “Too Small To NOT Fail” was picked up by SeekingAlpha and after reading through the feedback on that site, it really pointed out some of the underlying weaknesses and mistrust of financial ... ( more)
From HedgeFolios.com - view blog entries - visit this blogApril 26, 2008 at 10:14 pm ET
At the end of March, the editors of Seeking Alpha asked whether they could reprint my content on their site. They told me that it would increase the exposure to my writing via their syndicated ... ( more)
From HedgeFolios.com - view blog entries - visit this blogApril 23, 2008 at 10:28 pm ET
“Too Big To Fail.” We saw it with Countrywide Financial. We saw it with Bear Stearns. As the controversy expanded, there were more than a few smarties defending the need to save ... ( more)
From HedgeFolios.com - view blog entries - visit this blogApril 22, 2008 at 12:06 pm ET
Last night on the Nightly Business Report - a show that I respect for actually being old-fashioned and reporting the facts rather than sensationalizing financial “news”, had Alice Rivlin giving an editorial piece:
“Commentary”-What’s Good About ... ( more)
From HedgeFolios.com - view blog entries - visit this blogApril 19, 2008 at 12:09 am ET
With few exceptions, I am not impressed with fundamental analysts and their estimates of revenues or earnings or their recommendations or the timing of their upgrades and downgrades or their price targets or whatever else ... ( more)
From HedgeFolios.com - view blog entries - visit this blogApril 18, 2008 at 2:48 pm ET
Maybe LIBOR doesn’t stand for the “London Interbank Offered Rate”. Maybe it’s really an acronym for the “Lying Interbank Offered Rate.” Click here if you haven’t heard about this. Obviously, the impact of ... ( more)
From HedgeFolios.com - view blog entries - visit this blogApril 17, 2008 at 1:15 pm ET
Now and then, investing legends get quoted on their opinions of the markets. It’s impressive to some people I guess.
Today’s big line comes from Mark Mobius.
NOW: April 17, 2008 Mark ... ( more)
From HedgeFolios.com - view blog entries - visit this blogApril 16, 2008 at 1:55 pm ET
First - the “Away” part. Portfolio management is an all-consuming and ever-present process for me. I rarely take any time away during the trading day and if it happens, it’s usually not ... ( more)
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