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It's all downhill from here amigoes y amigas.
Everything is heading shitter-wards.
Shitter ward ho!
Cheers Terrance, You Ching!
I suspect QE3 will reverse this trend, at least temporarily.
Remember, bonus season is just around the corner.
Not too long ago I said BofA was going to zero. This is more proof.
It will never go to zero. TBTF?
It may become a wholly owned subsidiary of Goldman Sachs, JPM, or the United States Government. But it will not go to zero any time soon.
All too big to fail, but their stock prices failed
This guy is funny. "Next time I will do some due diligence before I invest" LOL.
Goes to show, money managers are probably no better, and perhaps even worse, than the average investor. The advantage they have is critical mass and collusion with other funds. These guys all live in the same small state, eat in the same restaurants, attend the same parties and charity events... and invest in the same companies with their multi-billion dollar leveraged funds. So if the stocks go up, it is often because they as a group are buying large amounts of the stock backed by lots of big money players.
Maybe 90% of the time it works anyway as the markets tend to go up, but when the market is flat for 3 months straight a couple if risky bets gone bad can make the whole fund look bad. I'm sure next quarter their returns on AAPL and GOOG will make him look like a hero again to his investors.
Paulson should just go back to cheating. That's the only thing he did well with. Maybe he can cook up another inside trade with Goldern Sacks. He's the Hero Cheater.
He actually sold some Kinross. Kinross has been a dog but it is groping for a bottom now. Considering Paulsons record of late, I bet Kinross jumps going into the strong gold season.
HP, B of A, SinoForest...
Is *slow clap* a new disease or just a Paulson problem.
Just saw on FOX that Standard and Poor's will make an announcement at 3 o'clock.
Also... about 100 house republicans have signed/will sign a pledge saying : PASS WHAT WE WANT OR DEFAULT.
Some eighty House Republicans have now signed a letter calling on GOP leaders not to even let the McConnell plan get to the floor for a vote, a GOP aide tells me.
I bet a lot of these people who signed that pledge will coward when the time comes.
The funny thing is all these fucking talking heads on TV and bozos in DC keep saying we're going to default if the debt ceiling is not raised. That is an outright lie. Treasury takes in more than enough tax revenues each month to pay interest on the debt.
Apparently it's a lot easier to package a bunch of bullshit mortgages and call them Abacus Securities and then have GoldmanSack unload them on the suckers, aka clients, and then go all-in on the short.
So maybe the genius isn't really a genius afterall.
Gasping for air here...
35hres or so till kaboooooooooooooooooom.
He was perceived to be the genius that called the housing crash, or was it Fab Fabian and Goldman who advised him of this and he rode their coat tails! Either way I still think the guy is a fucking cocksucker!
"too aggresive" was he? good spin, Mr. P...I hear there are opening at .gov
Just replace one f*cking genius (timmay) with another...sheesh!
good switch afterall Timmays budgets are "over-aggressive" too ...and over-cooked, over-indebted and over-stretched!!!
..but then Paulson hasn't the luxury of robbing peoples pensions when your financial planning *cough*splutter* has come up $2 Trillion short ..nor can Paulson have the luxury of replacing invested money with interest bearing debt as Timmay can (another nice 'switch' you can only get away with in Govt)
yesh.... it seems .gov is allowed "a little more latitude" <snark>
Buying everything highlighted in green now! Signed, RoboTrader
no doubt about it
I just saw where he came out today and is shorting the euro!!! This poor bastard can't win.
JP likes financial companies with less exposure to real estate...like Wells Fargo? wow.
Seriously...I'm glad I'm not the only one who caught that. For a second I thought I needed to lay off my BHO-brand Hopium.
Looks like he had to dump some Anglo Gold and Agnico Eagle as well. Tremendous selling pressure lately.
Proof that many "institutional" gold stock investors have no conviction or discipline whatsoever. Always margined to the hilt, then forced out of their positions at the worst possible time.
They are gambling junkies with outsized positions in specific stocks or sectors, just like all the other over-leveraged financial speculators which they eschew.
what they're doing is selling their profitable positions to offset their losses
Yes conviction is a good thing. I'm long K Swiss because they have the most un-corporate management of anyone and a great products. KSWS breakout to the upside today. I'm also long REV. Ron Perelman? pffft. EL breaking higher. The entire indusrty has the stars aligned. I missed the buy on BAC below 10. There's no way they're going to let it stay in single digits. Not going to happen. FNF p.o.s. answering criminal subpoenas. GS? I'm waiting for a good entry to short it. Off the grid MS is killin' them. Gold - been buying for three years and I will never sell.
Right you are.....that quaterly yardstick creates a real problem for them....in my own experience it usually takes a year or two for a really good investment concept to work out.
He kept the ITH. Tough to let the good stuff go.
Some people are sh*tting in their pants in Greenwich and Westport, CT.
"team of analysts" eh? I nearly spit out my Kwak
Was it pseudo-mutual fund manager or mutual fund pseudo-manager? Both seem to kind of make sense as of recently.
And BAC is up 4% two days in a row...
what part of stay the fuck away from large financial institutions does he not understand??
anyone that knew anything about B of A knew that it was a shit company, what a rich dumbass
It is pretty amazing especially when you consider where he scored big just a couple of years ago....how could he possibly think that they are out of the woods??????
"And the biggest concern to FX traders, which is everyone these days, is that the Pauslon mutual fund is now actively dabbling in FX:"
You are full of shit and you know it. The only thing that matters to the true professionals is what Bernanke had for lunch! Possibly breakfast as well.
should have retired after his inside information on the housing implosion paid off
How can ANY realistic person think RE will stop plunging for another ten years. RE cycles are Econ 101...they run in 10-12 year cycles. Thi sone was ramped up higher b/c all the free money and fraud...but now the coorection will be just as...shall we say, "dramatic" on the way down. The Fed is flooding the economy with money prolongs the crisis and bailing out flippers and speculators who won several houses will only make things worse.
Paulson should have known this.
His best holdings are his gold, gold miners and RIG which was an outstanding addition imho. These all do very well as The Bernank expands the money supply and now we see the ECB about to embark on the same money expansion frenzy.
GL! Hope he hires better analysts next go round.
today you can get raw timberland for $850 an acre, a very nice 3 bedroom 3 bath condo in destin florida for $250k, so you're wrong
Well JohnnyP ... Hmm ... Easy Come Easy Go...
nice to know I am smarter that Paulson at least on this one.
Good, he admitted his mistake.
The man lives in the HAMPTONS FOR CRISSAKE!
How the heck is he supposed to know about the state of affairs for us plebs?
Anyone with kids, a job, or bills knows things are really, really bad - but Paulson is neither, so all he knows is what the other overlords on Wall Street whisper.
How someone with a team of the "best and brightest" - an army of Harvard MBA's - could not see that Sino-Forest was a fraud. I mean I am not the brighest guy, so I make my share of mistakes and then some, but these people are supposed to be the BEST (c).
The money is not in the analysis, but in selling the lie.
Haa'vard MBA's are the best liars and thieves mommy and daddy's money can buy.
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