Mr. Potter: [to George Bailey] Look at you. You used to be so cocky. You were going to go out and conquer the world. You once called me “a warped, frustrated, old man!” What are you but a warped, frustrated young man? A miserable little clerk crawling in here on your hands and knees and begging for help. No securities, no stocks, no bonds. Nothin’ but a miserable little $500 equity in a life insurance policy.
Sunday, August 10, 2008
Random Roger, following up on the 300-point rally meme, agrees that during bear markets, there does tend to be more volatility. Remember, volatility doesn’t necessarily equal whatever is happening (or not happening) in the VIX. And more importantly, volatility doesn’t equal large-size selloffs – monster one-day rallies are constitutive of volatility, too! Adam has had enough of people deriving some major magical causal link between the price of crude and equity rallies. We couldn’t agree more – oil-related stories are…
Wednesday, August 6, 2008
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Wiser heads than ours are still thinking hard about the unrelenting credit troubles, the generally absurd situations of FNM and FRE, and the possibility that this time, socialism for the rich (that broad set of taxpayer-funded free love, free money policies available to large companies and major investors, but not to ordinary people) might not pull us through. If our bearish data points from yesterday weren’t enough, here are some more: There was a big divergence in…
Tuesday, April 1, 2008
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Futures are ripping higher this morning, presumably on the news that some of the financials might not crash and burn after all: U.S. stock-index futures climbed after plans by Lehman Brothers Holdings Inc. and UBS AG to raise about $18 billion of fresh capital boosted speculation that financial firms will weather mounting credit losses. [Bloomberg] /ES is up 15 points, while the /YMs are up 127. Maybe this is the big rally everyone was looking for; or maybe it’s…
Thursday, December 18, 2008
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