Archive for December 2008

2009 Will Be Bad But Not Nearly As Bad As 2008

December 22, 2008  ·  Category: Market Commentary, Sentiment Analysis
It's not wishful thinking (or the emotional exhaustion talking), but 2009 is apt to be a calmer year that will reward stock-picking. The notion may seem delusional following a market collapse that spared virtually no asset ...
Posted by Greg Feirman  ·  No Comments »

The End Of Freedom For American Banks

December 17, 2008  ·  Category: Business Culture and Current Events, Politics, Stocks
I would like to see a regulatory system aimed at insulating the real economy from financial innovation insofar as that is possible.  That may require limits on the freedom of action of commercial banks. - Robert ...
Posted by Greg Feirman  ·  No Comments »

S&P Closes Above 50 DMA For 1st Time Since Early September

December 17, 2008  ·  Category: Market Commentary, Technical Analysis
Yesterday, the S&P closed above its 50 day moving average for the 1st time since early September.  Prior to yesterday's close, it had closed below its 50 DMA for 72 consecutive trading sessions. This suggests a ...
Posted by Greg Feirman  ·  No Comments »

Fed Goes For Shock And Awe

December 16, 2008  ·  Category: Federal Reserve, Market Commentary
This is sick.  This is some kind of cartoon version of real life.  The Fed today cut the Fed Funds rate to a range of 0%-0.25%.  In the statement, they basically said they will do anything, ...
Posted by Greg Feirman  ·  No Comments »

Goldman Reports Big Loss But Shares Up Big

December 16, 2008  ·  Category: Market Commentary, Stocks
We are willing to base our investment thesis on what we believe is the best management team and strongest franchise in the sector, when it is trading at a fraction of TBV [Tangible Book Value]. - ...
Posted by Greg Feirman  ·  No Comments »

Top Gun FP Client Note: The Causes Of The Financial Crisis

December 15, 2008  ·  Category: Economics, Market Commentary, Politics, Top Gun Financial Planning
Here's the PDF file for this weekend's client note: Top Gun FP Client Note: The Causes Of The Financial Crisis.
Posted by Greg Feirman  ·  No Comments »

Madoff Investment Securities Revealed As “Stunning Fraud”

Our complaint alleges a stunning fraud that appears to be of epic proportions. - Andrew Calamari (subscription required), Associate Director of Enforcement, SEC New York Office It's all just one big lie.... basically, a giant Ponzi scheme. - Bernard ...
Posted by Greg Feirman  ·  No Comments »

The Free Market Clapper

December 11, 2008  ·  Category: Economics, Humor, Politics
This is great: The Free Market Clapper.  100% true as well.
Posted by Greg Feirman  ·  No Comments »

Fleckenstein To Shut Short Only Hedge Fund, Steinhardt Says Now A Good Time To Buy

December 9, 2008  ·  Category: Sentiment Analysis
Bill Fleckenstein, Money Central contributor, frequent CNBC guest, author of Greenspan's Bubble's (2008), and manager for the last 12 years of a short only hedge fund, Fleckenstein Capital, has decided to close up shop.  Among ...
Posted by Greg Feirman  ·  No Comments »

FedEx Dramatically Reduces Outlook

December 9, 2008  ·  Category: Macro Economics, Market Commentary, Stocks
Demand for our services weakened sequentially throughout the quarter and global economic trends continue to worsen, substantially reducing our second half outlook. - Alan Graf Jr., CFO, Federal Express Yesterday after the close, Federal Express (FDX) took ...
Posted by Greg Feirman  ·  No Comments »