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The market is going to infinity just because.
Did they honestly use the title of the Pink Floyd song about a recreational drug-induced coma?
wow. i mean - WOW. thanks for pointing that out. This is the epitome of everything that's going on in today's market... COMFORTABLY NUMB! unreal
Perhaps that is the irony of the note. The last chance to push stock onto the comfortable numb buyers.
payback for the favorable press JPM and Jamie get on CNBS
Was that report posted on The Onion?
Unlike Fannie, Cit, etc, at least GE has a P/E ratio.
In reality, that's probably the most honest sell side report I've read in a while. The guy basically says, F' it, this sucker is gonna pop as retail looks for the last nugget.
Well YTD obama has successful monetized hope, so what is wrong with JPM suggesting the monetization of sentiment vis a vie GE?
The DOW 30 stocks will be upgraded by the rate of one stock per day to sustain the bull market.
GE has really taken off. A few months ago I was taunting Warren Buffet for making such a loser investment. Oh wait, it still was. My wife owns GE and will be pleased as punch for it taking off.
I suspect that JPMorgan upgraded GE because they have an important client that needs to unload.
The analyst basically said he was upgrading GE because it was trading poorly compared to the rest of the market. So, ok, let's buy weak stock. There's a reason for the upgrade but that ain't it.
no - because GE IS an important client who needs to unload - there is mention in the note of a $10B "infusion"... secondary perhaps?
probably the insiders want to unload their GM holdings.
Moin from Germany,
compared with this comment quite "harmless" ;-)
Based on analysts’ forecasts for 2010, the S&P 500 trades for 13.5 times income, the lowest since 1989 when compared with the trailing P/E ratio before Lehman Brothers Holdings Inc.’s collapse a year ago.
The rigorous nature of obtaining a CFA is what qualifies Tusa to put out an OW on GE. It is my understanding that the "Just 'Cuz" segment of the test is the most obtuse and difficult by far. Bravo.
More wodak, comrades; this numbness is insufficiently comfortable for trading via mouseclicks.
check out the short position in GE and that will tell you why JPM upgraded GE. Pull out the juice machine and sqeeze.
They truley are the perfect gun.
How creative. This opens all kinds of doors for ratings possibilities.
North American Equity Research
20, September 2009.
General Electric Co.
Previously Over Weight
Down graded to Coyote Ugly- I bought this stock when I was comfortably numb, woke up next to it in bed, and am now willing to chew my arm off to get out of it.
Speaking of underperforming investments, isn't it about time someone upgraded the dollar as an investment? I guess not, because that's one of the only ways to hurt the market.
Big laugh at an upgrade of GE before any cap-and-trade bill even gets through Congress. GE is counting on that to be their payday.
my political prognosis...cap and trade will not happen.
that is all.
"comfortably numb investors" is just a euphimism for greatest fool.
fools be warned.
what a joke this market has become
for weeks now they have been upgrading every sector or name they can find "just because" they can
thanks for pointing it out.
The thing that's funny about the report is that there's no inquiry whatsoever into loss rates at GE Capital OR industrial demand relative to GE's capacity. Either one could sink the company, and given the complexity of the situation you would think an analyst would look at least a little bit into maybe one of these topics.
Essentially you have GE's industrial business as an asset-light, cash-flow driven business and GE Capital as an asset-heavy, leverage-driven business (driven by the margin between GE's cost of capital and return on investments). It doesn't take much higher percentage losses for GE Capital to start absorbing all of the industrial business's cash-flow and for the leverage to start to be a negative. Likewise, if it looks like GE's industrial business is not going to produce enough cash to support the Capital business through this time, funding costs will go way up. But apparently neither of these cases is important because this analyst doesn't find them that likely for...what reason?
Realistically, GE isn't good for any huge percentage gain off today's price, with a significant risk of losing all your money. If the likely outcome is that they limp along with:
1. Reduced credit rating.
2. Low dividend.
3. Regular diversion of industrial cashflow to support poor Capital investments.
4. Poor industrial demand
why would a rational investor accept the downside risk? You can invest in better banks that you know the government won't allow to fail, rather than a hybrid industrial/financial with a totally uncertain future. JPM itself is a much more attractive stock than GE.
BTW, if you take a look at the industrial portfolio, GE has some very impressive products and is a leader in many important markets. It's really a shame that past management levered up a Capital company rather than focusing on returning the cashflow from these products directly to shareholders as dividends.
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