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Jeff Saut's Permabullishness Just Cost Raymond James Hundreds Of Thousands In Lost Revenue
Yesterday, with all the grace of a permabull in a China propaganda store (aka CNBC), Rayond James' ever ebullient Jeff Saut tangoed in to tell anyone clueless enough to listen that stocks are cheap. Oh, and to buy some firm nobody had ever heard of before called Tangoe. In explaining what they do, here is what he said: "these people have the greatest and newest software on the planet right now. Who did they sell it to? To institutions like raymond james. We use their ordering and billing software and hopefully switch to their telecommunications software. It's nifty stuff." He also had some great things to say about Whiting Petroleum. So far so good. What Saut did not say is that his employer, Raymond James, for whom he works as chief strategist (which probably means to advise clients to dollar cost average all the way to $0.00) is an underwriter on not just one but both companies' secondary equity offerings in process, and that commenting on their growth prospects in a non-banana republic would be not only prohibited but punished (see quiet period). Well, the people with the "greatest and newest software on the planet" aren't waiting for the SEC to turn off the porncast. As can be seen from the following before and after cover pages of Tangoe's S1, Raymond James has just been fired as of this morning, following Saut's rank amateur commentary yesterday.
Luckily (and not surprisingly) Ray Jay was last of the last in the Tangoe bracket: as such Saut's idiotic remarks only cost the firm at most a few hundred thousands dollars (that excludes all the market making revenue the firm would have made had it placed even one share, not to mention the soft dollar coverage it would get once it same out with a Strong Buy rating on the company). However, in this same non-banana republic, we would expect Whiting to follow suit and to promptly fire Raymond James as well, for precisely the same reason. In turn, we would also expect that a termination of Jeff Saut would be imminent.
But like we said, that would be the case in a non-banana republic.
Tangoe's prospectus before Saut's attempt at breaching the quiet period (source).
And after, as of this morning (source). Note the missing party...
Whiting has not fired lead underwriter Rayond James yet.
Full CNBC interview:
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LOL even FED ass kissers goin down now....uh oh.
Not yet.....he's still got a shot.
Whting has not fired lead underwriter Rayond James yet.
No shot.
Once they see ZH got a hold of it.
And Eric allowed this guy on KWN?
KWN also continues to interview that little weasel Stephen Leeb. I remember that ass-clown arguing with Peter Schiff in 2008, saying that everything was fine and the bailouts had solved everything. Now he's jumped on the gold bandwagon and basically regurgitates the same old crap everyone has known for years.
Saut hasn't been on KWN since May '11, so perhaps Eric scratched him from the list.
JAIL HIS ASS...
i'd rather watch Snoop Dog talking up his #hores, than any W-street strategist.
who are those guys yet watching cnBS ?
alx
A few hundred thousand dollars? They can dig that out of the couch cushions in the client waiting room.
Let's talk REAL money.
Cue laugh track...
By the way, why doesn't CNBC have a laugh track like most sitcoms?
+1000 LMAO
I did notice a dramatic low volume "swish" sound as they rotate through all the charts and graphs.
This clip would be great with a laugh track!
Saut is just another Whore Street slut selling crack to the neighbor retail suckers who watch CNBC all day hoping to catch the big one...
Too bad... he won't even have time to cash his ponzi check!!
That's pretty damn funny.
Why anyone with half a brain would trust the "pros" is beyond me.
Bullish!
aaaaah HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA. Idiot.
The dips. Buy them.
Pimping the book is so common it is mostly ignored by the momo crowd....and Ma and Pa aren't chasing anymore.
This blatant example of illegality is just one grain of sand on a wide beach.
"Moose lips, stink ships" or something like that...
Funny.
Saut pissed me off a long time ago doing interviews on Minyanville about how great the bailouts and TARP were; and Mom and Pop should jump back into the markets after getting screwed by said government/Wall Street.
Sure Jeff, sure.
This definitely qualifies as Friday Humor.
Maybe someone with better expertise can follow the breadcrumbs:
http://www.raymondjames.com/pdfs/fixed_income_pos/haverhillpos%5B1%5D.pdf
http://www.raymondjames.com/office_locator_display.asp?rfrl=/contact.htm...
http://emma.msrb.org/Search/Search.aspx
http://www.edwardswildman.com/
http://www.cerberuscapital.com/
http://www.steward.org/about-steward.html
If you know nothing about bond underwriting, don't bother clicking. Although it's interesting a bond underwriter, a law firm and Cerberus all have a cozy relationship.
FACED!
This etn and etf bullshit is going to explode.....joke
Giggled all the way down the thread.
Nooooooo.....
http://youtu.be/Eal4fep7pK4
"We appreciate you being with us."
by by now.
Jeff has been consistently right since March 2009.
Jeff Saut was just praising ZH and TD in RJ's newsletter yesterday, the love is not returned.
Edit: It was from a few days ago. This is from Saut's newsletter on March 19.
Those comments sparked this insight from the brilliant editor of Zero Edge, Tyler Durden, who remarked:
“Earlier we described why it is clear that the Fed will need to print exponentially to fill the void of the crunch in consolidated credit
money but why does Bernanke remain so hedged and guarded in his optimism when the market is tearing bears' arms-and-legs off
and every talking head from here to Tokyo is claiming we have reached the nirvana of self-sustaining recovery. It's the data stupid.
Simply put, as the chart below shows (see chart), the strength of trend of key US data over the past three months has been
disappointing in aggregate and the worrying similarities between 2011 is only too real a problem for Ben and his buddies if they take
away the Kool-Aid too early once again and let us drink our own stale sugar-free water.”
Probally drinks fluoride, eats GMO,MSG, aspartame and takes his vaccines like a good little boy.
Since there is no one to punish them or to control them, the sociopaths that have taken over Wall Street are getting out of the cages to keep the Ponzi growing. After they've sucked the assets out of America they'll be nothing left but Ponzi Sociopaths and Zombie Citizens left.
The Wile E. Coyote scenario continues...
SPX daily chart with rising wedge enclosed by substantial megaphone pattern.
http://stks.co/31QM