Archive for February 2008

AIG Report Brings Back Bad Memories

February 29, 2008  ·  Category: Market Commentary, Stocks
AIG's (AIG) fourth quarter earnings report after the close yesterday, in which they announced $11 billion in writedowns on exposure to credit default swaps it wrote and $2.6 billion in writedowns on mortgage backed securities ...
Posted by Greg Feirman  ·  No Comments »

Long Term Interest Rates Are Rising

February 28, 2008  ·  Category: Bonds, Inflation
While everybody has been focused on the stock market holding the lows from Jan 22-23, less noticed has been the fact that long term treasuries are holding their highs from the same period (30 Year ...
Posted by Greg Feirman  ·  No Comments »

Memo To Market: I’m Baaaaaack!!!!!! From Inflation

February 28, 2008  ·  Category: Inflation, Market Commentary
Is the Federal Reserve an independent monetary authority or a handmaiden beholden to political and market players? Has it reverted to its mistaken behavior in the 1970s? Recent actions and public commitments, including Fed Chairman ...
Posted by Greg Feirman  ·  No Comments »

Kohn And Bernanke Torch The Dollar; So Much For My Euro Top Call

February 27, 2008  ·  Category: Currencies, Federal Reserve
"The Fed is triaging the whole economic problem that we have, and right now it seems like economic growth is a priority." - Carl Forcheski (subscription required), VP Foreign Exchange, Societe Generale  Yesterday, Fed Vice Chairman Donald ...
Posted by Greg Feirman  ·  No Comments »

Inflation And The Erosion Of Purchasing Power

February 27, 2008  ·  Category: Economics, Federal Reserve, Gold, Inflation, Retirement Investing
Inflation is poised to become a serious threat to the world's economic well being - and not enough people are talking about it. While Wall Street whines and whines about how the Fed is behind the ...
Posted by Greg Feirman  ·  No Comments »

Daniel Gross: Tough Economy Is Walmart’s Sweet Spot

February 27, 2008  ·  Category: Stocks
I wrote about Walmart (WMT) positively last Tuesday and an interesting way to play the stock, and yesterday Dan Gross put up an article on Slate that makes the same point: a tough economy is ...
Posted by Greg Feirman  ·  No Comments »

Sell The Rally? – Indexes Find Resistance At Feb 1 Highs

February 27, 2008  ·  Category: Market Commentary, Technical Analysis
It's been a nice three day rally since rumors from bond insurer land helped the indexes surge in the last hour last Friday.  S&P took MBIA (MBI) off CreditWatch on Monday and reaffirmed Ambac's (ABK) AAA rating.  Yesterday's ...
Posted by Greg Feirman  ·  No Comments »

Google Will Bounce From Here

February 26, 2008  ·  Category: Stocks
Google (GOOG) is down big again today on data from comScore saying that paid click growth in January was flat compared to last year.  The selloff is way overdone at this point and the stock will bounce.  Consider: At ...
Posted by Greg Feirman  ·  No Comments »

IBM Stock Buyback Spurs Market

February 26, 2008  ·  Category: Market Commentary, Stocks
A little before 11am EST IBM (IBM) announced that its board had authorized a $15 billion share buyback and that it plans buy back about $12 billion in stock in 2008. The announcement led to a ...
Posted by Greg Feirman  ·  No Comments »

Tough Day At The Depots

February 26, 2008  ·  Category: Stocks
Home Depot (HD) reported this morning that same store sales decreased 8.3% and net income 28% for its recently completed fiscal 4th quarter.  Their guidance for 2008 was for negative comps in the mid to ...
Posted by Greg Feirman  ·  No Comments »