Category Archives: Uncategorized

Thanks to subscriber Tom for sending this. In the clip below, Jon Stewart does his usual masterful job, this time on CNBC’s worthlessness. Here’s an index of key moments: Cramer’s “Bear Stearns is fine” call. (3:03) “Lehman Brothers is no Bear Stearns. . . . Lehman Management is incredibly engaged and responsive.” (3:15) Merrill won’t […]

It seems everybody thinks they’re a wizard these days to point out that leveraged mutual funds and ETFs are daily tracking vehicles, and “suitable only for daytrading!” There’s a valid point to be made about slippage, but it goes only like this: steeper falls require steeper rises to get back to even. A series of […]

Yesterday was a doozy, and one of our very wide-berth limit orders filled in the carnage. In this market, you have to set the price you think is reasonable, then lower that 20% to where you think it’s just too cheap to be true, then take another 20% off that and you’ll still see the […]

As governments around the world mortgage the future to save the financial system, do you ever wonder what’s so worth saving? If a bunch of deadbeats failing to pay their mortgages in the U.S. takes down the global economy, I say we need a new system. What a fiction the whole thing turned out to […]

For all his reputation as President Silver Tongue, Mr. Obama sure has had trouble articulating a coherent response to the cries of bank nationalization. Maybe he should stop trying and leave the public banking remarks to Federal Reserve Chairman Ben Bernanke. In a Tuesday Senate hearing, Mr. Bernanke told Republican Senator Bob Corker that even […]