Trailblazing Mutual Fund Refuses To Invest In "Too Big To Fail" Banks Beginning July 1

Tyler Durden's picture

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jbc77's picture

Got to give those guys some respect, they are saying fuck you to investing in psycho path banks.

chet's picture

Kudos to these guys, but much more of Wall Street should be out in front in calling out the TBTF system and Congress' unwillingness to do anything about it.

Wall Street has a lot more credibility making statements like this then capitalisms traditional critics.  Those Wall Streeters who are silent are actively contributing to the degradation of the capitalist system and its replacement by the government/financial complex.

doublethink's picture

 

Vote with your wallet.

 

ratava's picture

since when is selling electrons to each other for rapidly increasing prices not a productive sector of the economy.

aint no fortunate son's picture

"selling electrons to each other" - PERFECT!

+1

I've done business with community banks my entire life and will continue to do so until there are no more community banks left.

ratava's picture

the question is what do we do about it. derivatives are nothing more than a way of creating counterfeit money. they are a way of winning money the loser never had in the first place. it is like some sort of sick multiplayer game where hackers found a way of creating fake gold indistinguishable form real gold and then paid the developers to not fix the bug with freshly created fake gold.

jkruffin's picture

This is excellent, and one more step needed to be taken by many more funds.

Jason T's picture

Remember Blago?  "I've ordered my state agencies to NOT do business with Bank of America"

 

the next day, FBI raids his office.  

 

Good luck to this man who has decided to vote with his wallet.  

 

 

Hdawg's picture

The Fed will rip that fund to shreds

traderjoe's picture

They're too small. The sheeple are still trying to figure out how to hold their iPhone 4's. No one will notice but the same people who believe in the PPT. 

Renfield's picture

Waiting for the first negative MSM stories featuring Appleseed Fund. Can't wait to hear if: a) someone 'betted against' housing and got rich shorting; b) someone 'betted against' the USA and got rich shorting; or c) old tried-and-true honeytrap and marriage/family problems.

walküre's picture

I'm actually considering an account with them.

Jonas Parker's picture

Johnny "Appleseed" is now wearing a big target on his back. I can see Geithner and Bernake loading their muskets now...

Cyan Lite's picture

According to their website, the fund has 16% in cash, and 8.8% in GLD.

DosZap's picture

Cyan,

Oh well,it SEEMED like a good firm, until you posted the holdings.......8.8% GLD.(fake as  Pam Andersons teats.)

I refuse to have any account that has an association that is continuosly screwing physical holders, and mkt playing, with shareholder funds, that continues to prop up the Squids.

Of course, most of these funds are clueless................

jsehl's picture

It's a shame that without the suspension of mark-to-market accounting, the regional banks would be insolvent, too.

Lucky Guesst's picture

Reminds me of a website I found a while back. The Free State Project http://freestateproject.org/

20,000 people are going to boycott losers and all move to the same area! "A new strategy for.... Liberty in our lifetime"

faustian bargain's picture

They're doing it in northeast Wyoming as well. www.freestatewyoming.org

DosZap's picture

Poor schmucks, makes it so much easier to get picked up........gather together, then it's a lot easier.

Warsaw Ghetto...................Jr's.

Blano's picture

FITB, PNC etc. etc. are just BAC/WFC/JPM Lite, so if they're willing to invest with the regionals, I don't see much to applaud about.

Ripped Chunk's picture

Wow! There is some common sense investing.

If We The People were to organize and withdraw all deposits from the TBTF tomorrow before noon, we would see the emperor naked with his pin dick visible for all to see.

Lets see Ben & Timmy cover that up.

DosZap's picture

Ripped,

Good luck, as they have no way near enough cash to take care of one person...........if it's over 15-20k.

Would take them at least a week advance notice per depositor, to get it, and I bet some folks would be stationed there on a daily basis, taking names.

cowdiddly's picture

I would like a Prospectus.

JHCM's picture

Not to be too cynical, but how many TBTF banks fall into the mid-cap value universe?

tony bonn's picture

god bless appleseed!!

Snidley Whipsnae's picture

Meredity is at it again and making some waves with her downgrades...and loose the dogs of war...

"Ahead of Q2 Results, Meredith Whitney Slashes Estimates on Goldman (GS), Morgan Stanley (MS)"

"Meredith now sees Goldman reporting Q2 EPS of $1.70, down from her previous estimate of $4.75 and compared to the current Street consensus estimate of $2.34. Q3 EPS estimate moves from $4.24 to $3.77, which compares to the Street estimate of $4.10. For FY10, Meredith is now expecting Goldman to report $15.70, down from $20 previously. The Street is looking for FY10 EPS of $16.76."

...hat tip to Jesse's Cafe Americain

DosZap's picture

Kesse, has had TWO great pieces this week,,,,,,Kudo's Jesse'!!!!!!!!!

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