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Art Cashin On "The Day Ahead"

Submitted by Tyler Durden on 10/04/2011 09:13 -0400

The Chairman speaks:

The Day Ahead - Here is an email that went out as daylight hit the East River:

Dexia, the Belgian bank alluded to in rumors yesterday now at center stage. Authorities climbing all over each other with guarantees and assurances. Even some talk of splitting into good bank/bad bank. Trouble here is that this bank was said to have passed the stress test with flying colors.

Market unsettled by new talk that “official” haircuts may be set at 50% vs. prior 21%. Once again, markets unsettled by eroding confidence in financial markets rather than by a single event/entity.

Traders see neither lifeboats or fire engines. What happens if a real crisis breaks out? Is there a plan? So, far looks like rerun of yesterday – worries and wariness rather than panicky selling. DAX -3%. FTSE & CAC -2%.

Unfortunately, markets have weakened further still. The questions raised about the stress test and the bank that it passed may linger through the day.

And this one may be familiar to ZH readers:

There’s A Monster In The Closet. I Just Know It! I Know It! - Wall Street emails zing about noting that on October 3,
2008, the S&P sat at virtually the same level as they closed last night. So, they say, did the VIX index. In the next several
sessions, a trapdoor opened and S&P went into freefall. Caveat Repeticione!

Lastly, Trivia time!

Answer - If the catcher drops a called third strike, and doesn't throw the batter out at first, the runner is safe.

Today's Question - Are you ready to run a hedge fund? What number is one half of one quarter of one tenth of 400?

- advertisements -

Tue, 10/04/2011 - 09:16 | 1736669 bigwavedave

What number is one half of one quarter of one tenth of 400?

A. 32,000

Bitchez

Tue, 10/04/2011 - 09:18 | 1736677 SpaDe

Tue, 10/04/2011 - 09:19 | 1736682 Concentrated po...

Concentrated power has always been the enemy of liberty.'s picture

bigwavedave is not prepared to run a hedge fund

Tue, 10/04/2011 - 09:27 | 1736717 ratso

Since when are those who run hedge funde interested in the truth of anything including math. I suspect he actulaly does run a hedge fund.

Tue, 10/04/2011 - 10:40 | 1737055 LongBallsShortBrains

Or a calculator.

Tue, 10/04/2011 - 09:20 | 1736685 SpaDe

I meant .25 .....

Tue, 10/04/2011 - 09:21 | 1736690 Concentrated po...

SpaDe is not prepared to run a hedge fund

Tue, 10/04/2011 - 09:23 | 1736699 SpaDe

Definitely not before my first cup of coffee........ read the question 3 times before I realized I was reading it wrong. Back to the coffee pot for me

Tue, 10/04/2011 - 09:26 | 1736713 Concentrated po...

lol, doing anything important before coffee is disaster.

Tue, 10/04/2011 - 09:21 | 1736686 SpaDe

Uhh dbl post......

Tue, 10/04/2011 - 09:32 | 1736742 aleph0

RPN

Tue, 10/04/2011 - 10:34 | 1737033 TheBillMan

Give that man or woman a cigar!

Tue, 10/04/2011 - 11:10 | 1737185 Ura Bonehead

Yes, 5. Congratulations!!!!

Your official hedge fund starter kit will be mailed to you soon. And as our gift to you, we will include* an official hedge fund manager decoder ring! BUT WAIT!! THAT'S NOT ALL!!

Send your order NOW and we will send to you FREE,* as our gift, the Steve Cohen lunch box!! It's the lunch box that's never empty, always filled with the latest insider information tips from Goldman Sachs, lined with the names and numbers of some of Wall Street's finest defense attorneys. ^

If you're not completely satisfied then simply return to us* the hedge fund starter kit and keep the Steve Cohen lunch box as our gift to you.

* Just include an additional $19.95 for shipping and handling.

^ Offer does not include the required $250,000 retainer; engagement will require an agreement to pay $1,000 average hourly rate.

Tue, 10/04/2011 - 12:21 | 1737522 Goldtoothchimp09

I have 5 as well ... unless i'm not reading the question right

Tue, 10/04/2011 - 09:55 | 1736853 snowball777

If I run an HF? About tree-fiddy!

http://www.youtube.com/watch?v=tO8Hdu-l6Qs

Tue, 10/04/2011 - 09:16 | 1736670 Careless Whisper

The Careless Whisper Morning Report

NYC Cops Arrest "Zombie" Protestors, Zombie Banks Untouched; Transit Workers Union Tells Cops "Stay Off Our Busses"; Construction Workers From WTC Site Join Protest During Lunch Break

http://www.nypost.com/p/news/local/manhattan/ghoulish_on_wall_st_he7Pz8I...

Citibank: $20 Monthly Fee For Checking Account

http://www.dailymail.co.uk/news/article-2044951/Now-Citibank-reveals-cha...

Mexican Government To Ricky Bobby Perry: Keep Your Gringo Troops Out Of Mexico

http://latino.foxnews.com/latino/news/2011/10/04/mexico-will-not-accept-...

Report: Fannie Mae Was Told Of Widespread Florida Foreclosure Perjury In 2006; Did Nothing

http://www.cbsnews.com/stories/2011/10/04/national/main20115226.shtml

Texas Town Votes Against Red Light Cameras; Camera Company Goes To Court To Declare It Void

http://www.leftlanenews.com/red-light-camera-company-lobbying-to-overtur...

Frankie Edgar Gets New Tattoo

http://www.celebritytattoodesign.com/frankie-edgars-championship-caliber...

Abandoned Homes A Problem In Greenwich CT

http://www.greenwichtime.com/news/article/Abandoned-homes-stick-out-like...

UAW Hearts Ford

http://www.detnews.com/article/20111004/AUTO01/110040369/UAW-preps-leade...

Music Video And Song Of The Day: Hank Williams Jr., "Red, White, And Pink-Slip Blues"

http://www.youtube.com/watch?v=B2vem1j3Z4g

Tue, 10/04/2011 - 09:22 | 1736695 Schmuck Raker

LOL

"Ricky Bobby Perry"

Tue, 10/04/2011 - 09:36 | 1736758 Alex Kintner

WTF. Freakin ESPN pulls "Are You Ready For Some Football" song from Monday Nite Football intro. Hank was just trying to make the point that Obama and John Boner are strange bed fellows. I guess Hitler is an unspeakable name now.

Tue, 10/04/2011 - 09:44 | 1736799 knukles

Hitler. Along with the "N" word (If you're white) as per the babes on "the View".
God I love this equal application of freedoms for one and all acri=oss thefull fucking political spectrum. Or is that speculum?

Tue, 10/04/2011 - 09:39 | 1736772 Comay Mierda

protests picking up, obama approval rating looking more like BAC stock price, time for a major false flag attack

Tue, 10/04/2011 - 09:17 | 1736671 Cdad

News flash...BlowHorn [CNBC]...Jim "hedge fund shill" Cramer has an epiphany...

"We have a job to do."

Better late than never, I guess...but still unable to determine what the actual job is.

Tue, 10/04/2011 - 09:28 | 1736725 HelluvaEngineer

Things become clearer when you realize that CNBC is nothing more than a live informercial for stocks.

Tue, 10/04/2011 - 10:43 | 1737073 LongBallsShortBrains

"We have a job to do."

He always says that after he gets his margin call.

Tue, 10/04/2011 - 09:18 | 1736672 Concentrated po...

umm, the answer is 5

Tue, 10/04/2011 - 09:18 | 1736680 Porkbellytrader

Tue, 10/04/2011 - 09:20 | 1736687 Moneyswirth

THEY KNOW NOTHING!!

/dolt

Tue, 10/04/2011 - 09:23 | 1736698 Sudden Debt

Thanks to our strong government, all problems will be solved here in Belgium with Dexia before you can say: OBAMA WILL NOW RUN FOR A THIRD THERM!

Tue, 10/04/2011 - 09:25 | 1736705 Concentrated po...

obama is bad enough without the lisp....therm, lol

Tue, 10/04/2011 - 09:25 | 1736703 clones2

Haha - "THEY KNOW NOTHING!!!" Nice...

BTW - I heard "Morgan Stanley is fine"

Tue, 10/04/2011 - 09:26 | 1736711 Mitch Comestein

5 bitchez

Tue, 10/04/2011 - 09:27 | 1736716 Caviar Emptor

How long before "They know nothing!" rant redux as Cramer_shill starts pounding the table for bailouts and more Fed crack? Not long

Tue, 10/04/2011 - 09:29 | 1736731 Thomas

If we can't beat the bankers like baby harp seals, we should at least hurl them into the street.

Tue, 10/04/2011 - 09:31 | 1736740 Motley Fool

I run my own sovereign hedge fund. :P

Tue, 10/04/2011 - 09:35 | 1736750 Instant Wealth

4.75 (rest is fees/provisions)

Tue, 10/04/2011 - 10:13 | 1736933 s2man

We have a winner! Don't forget the front/back load.

Tue, 10/04/2011 - 09:39 | 1736771 Monedas

Monedas' morning "report": Intestinal gas accumulated overnight trumpeting morning revelie....amplified by a porcelain megaphone ! Ben "Binky" Bernanke assures Monedas that exported Danish Butter Cookies will be exempt from the new Danish Butter Tax......at least the one's he buys at the Dollar Store because they hardly have any butter ! Monedas' idea for a Fat Tax: Tax every over weight "Welfare Waddling Water Buffalo" for every kilo over her ideal weight ! Monedas 2011 Tripping the Light Fantastic

Tue, 10/04/2011 - 09:39 | 1736773 Steel_Preacher