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September Stock Talk II

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Posted: #1

1. I just saw an Alan Greenspan clip. Why do they continue to interview him? The pearl of wisdom from the "greatest central banker in history: "there are winners and losers." No shit, genius...thanks for that tip.

2. What other big ones are most likely to either fail or be absorbed?

3.Wilbur Ross looks for 1,000 banks to fail, and is now interested in buying one (or a hundred, he has the bucks) of them. I would hate to field a call from Wilbur were I running a bank.

4.Should be a very interesting, if tragic day for many people...good luck everyone.



 
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Posted: #2
isnt this his fault for creating the boom in real estate buy making housing so easy for people to buy houses,condos etc that they really couldt afford.
    I built condos in Brooklyn a few years ago and people would come to me saying they were approved for 100%-105% financing, it was such a buyers market...year later I dropped prices 10% or so and because it turned so fast
   they should have let the banks pay for their stupidy, no one would bail me out if I was going under
 
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Posted: #3
Quote Originally Posted by Vermeer:


1. I just saw an Alan Greenspan clip. Why do they continue to interview him? The pearl of wisdom from the "greatest central banker in history: "there are winners and losers." No shit, genius...thanks for that tip.




Vermeer, that was a SOLID line right there, very true and VERY funny.

Yeah Greenspam is on the hook for this mess, he made it possible with loose rates and ZERO regulation or watching these banks and institutions creating these POISION instruments and not trying to slow the real estate market all so Bush could be re-elected and we could finance the Iraq war.

The moment the FED stopped reporting M3 was the beginning of the end for our financial markets.
 
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Posted: #4
I can't wait to see what kind of numbers GS fudges on Tuesday for earnings.  They were on the wrong side of a lot of trades this last quarter, at least if they followed their own recommendations.

Further down the road I wonder what happens with GS and MS seeing as though the stand alone broker model does not look viable any more.  But who would pay 40-60 billion for either?  Then again after tomorrow morning their market caps could be nowhere near those amounts.
 
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Posted: #5
i was reading that GS actually anticipated all the banks failing and bet against it from december.


WFC is dog shit. ive seen way to many foreclosed homes with Wells fargo buying the holding bank to buy it. its diffently a prime short bank.
 
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Posted: #6
GS will continue to do very well.

they shorted the piss out of real estate and CDOs while simultaneously selling them as products to big clients

GS is the smartest firm on the street...at least in the IB world. some hedge fund mgrs may lay claim to that now
 
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Posted: #7
wild times.  the LEH building this morning was mayhem.  about 20 news trucks trying to interview anyone that walked by the building. 
 
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Posted: #8
correct me if im wrong but bac bought mer with stock @ .86 per share of bac which is right now 28.40 shouldnt mer be trading @ 24.42 ??

bac was 33.74 last close and the deal was saying mer was bought @ about 29 per share.

Mer right now is 21.50 shouldnt this be bought at this price ???
 
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Posted: #9
If you think BAC won't fall any further then I guess that could be a good move.
 
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Posted: #10
its holding pretty steady

 
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Posted: #11
BAC ha da similar type buyout of CFC...kept getting cheaper and cheaper since the buyout price was was pinned to BAC stock

 
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Posted: #12
And people are still pooring money into WFC today


 
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Posted: #13
MER trading at a discount even further than .86 of BAC as a "fear" factor and that gap will close as the date for the transaction gets closer and closer.


 
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Posted: #14
Uh Oh, AIG is down over $1 in the last 15 minutes, now under $5.

Does the market dive if AIG dives?
 
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Posted: #15
I was considering doing a buy-write on AIG and Scottrade wont allow a buy on the common online???
 
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Posted: #16
And there goes $4 for AIG 
 
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Posted: #17
Dammit, my GS OCT $105 puts sold while I was trying to raise my sell limit.
 
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Posted: #18
The buy was at 4 for the common, the Sept 5 call is going for 1.80 which makes almost a 50% return on the transaction and a 50% downside protection for one week of risk.

Ive never seen a stock blocked from being traded online, it might be part of the reason for the swoon, if retail dummies cannot trade it.
 
Prospect
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Posted: #19
Probably a little early, but I nibbled on GE this morning at $24 pps.  I won't chase it higher, but with a 5% yield, I can hold this for awhile.
 
 
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Posted: #20
Wow..

AIG running hard. a 3 buck move in 25 minutes.


 
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Posted: #21
Looks like the shorts are starting to go after GS now.  The prices on their OCT puts have gone through the roof today.  Just ridiculous gains on every single strike all the way down to $65.
 
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Posted: #22
GS hasnt fallen nearly enough to represent the average for the sector, but like Koaj has mentioned the firm is quite large and their stock only represents what like 30% of the total firm equity?

I still am quite pissed at Scottrade for not allowing a stupid order on AIG online.
 
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Posted: #23
GS new 52 wk low.

I WANT MY PUTS BACK!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! 
 
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Posted: #24
Quote Originally Posted by Gridophiles:

Probably a little early, but I nibbled on GE this morning at $24 pps.  I won't chase it higher, but with a 5% yield, I can hold this for awhile.
 


T is the same thing...except GE actually has a finance division, T doesnt
 
 
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Posted: #25
man DRYS is getting run down today.  there hitting the bottoms bottom soon. and pissing me off i thought they had bounced friday for an up swing.
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