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Where is Larry Fink to say, "Make them buy JEF!"
Remember this... www.youtube.com/watch?v=gUkbdjetlY8
I'm sure everything is just fine over at Jeffries.
Can you imagine being an MF client today, with no access to your money as the market implodes. That money is gone and will never be seen again.
Jeffries is about to go under and they are doing everything to obfuscate the issue and say everything is okay.
We've heard this shit before. Handler sold $25mm of stock less than 60 days ago. They are fucked without the Fed spigot.
Fed spigot doesn't guarantee anything anymore.
Imagine yourself in an airtight elevator with an extremely leaky glass pitcher in one hand and a hose with infinite supply of lemonade in the other. You pour and pour and pour, the pitcher can't get full but the elevator can.
Cause of death. Drowning by lemonade.
I said this earlier this morning.
WE WANT A STATEMENT FROM JEFFERIES.
if not - then we're going to occupy it - and not with our money.
These morons are going down - and there's nothing to stop it.
Gee, Dick- you have plenty of personal cash on hand from your liquidation of Jeffries stock to buy some shares yourself if it's so cheap- why not put your money where your mouth is?
Be a REAL CEO.....
not to defend him, but as an insider he is subject to the short swing profit rules.....having sold at higher prices, if he buys now he must disgorge the profits.
Jefferies, face it, you are done.
I blame that Conspiracy theory blog called Zerohedge. What a bunch of right wing lunatics.
Infamy, infamy, they all have it in for me.
It's dead, Jim. Put it on pink.
Latest news from MF Global... they stole 3 BILLION...
The remainder, more than $3 billion, ostensibly remains on hand to cover a shortfall originally estimated by MF Global to regulators at just $600 million.
Tyler's famous "Risk Basket" trading now flashing a buy signal.
Huge spread between SPY and FXE right now.
A colleague told me that Cramer last week said the keys to the market are the currencies.
So currencies don't matter any more.
Not so fast. After the greatest October on record, SPY has to work hard to get back to reality.
That has nothing to do with any "risk basket". CONTEXT has many more components than just FXE. Plus next time you should probably index them on a relative basis.
Is it like 2009 yet Robo???
Egan did make that silly statement about market cap and leverage on Fox Business. Really makes you question his understanding of basic finance.
Upvote if you too simply scrolled through that press release, wihtout reading a word, knowing full well that the language contained therein is complete and utter, top shelf, gold seal, numero uno, unmittigated, self serving, epic bullshit of the highest order.
A higher market cap enables cheap financing options, higher leverage reduces that.
Wrong - difference between market and book. The 12.9 number Egan used was using book numbers. Adjusted leverage accounting for cash is a better barometer and that sat around 12. Egan screwed up on national television. It made him look silly.
This is certainly an intentional misreading of their public filings instead of their public filings being intentionally misleading. Most Global Investment banks tell the truth first as policy. MF Global is not typical and will surely find their money in the glove box of Jamie Dimon's Maybach.
They need to stop handling their Dick.
Lets see just a few points: under disgorgement rules Handler cant buy stock unless he wants to throw $6mm of cash down the drain (even robot traders mom isnt that dumb), their prime brokerage businesss is tiny who cares if it all goes away, and finally all of their borrowing are secured so who cares.
We need to archieve that release, for posterity when the whole thing comes unglued and we can requote their platitudes about how they raised funds well in excess of their needs over the past several years. Of course, that would be an intentional misreading of their earlier release saying "Alls well!" (For some reason, I keep seeing Yellowbeard when I hear 'Alls Well!")
"we'll crush the shorts!"
After MG Global a fiduciary would not be doing his/her job if they didn't move money out of a 2nd tier brokerage account.
This isn't just about Jefferies it is also about the systemic risk contagian unleashed (once again) by the shit show that MF Global currently is.
Stop being a Dick, Dick, and admit defeat......
damn you Jon Corzine
"Fortunately, those who take the time to understand and truly analyze the facts are reaching the right conclusion."
And those that do understand (as you say) are getting ass raped in the markets today...would you like to apologize to them for getting it???
"While it may be necessary for us to continue to respond to these ill-conceived attacks, we fortunately can do so on a firm foundation and with confidence in our funding and business model."
Their Dick Fuld moment...... We are fully capitalized...It't the fucking shorts... they are all wrong and they are gonna burn...
"Fortunately, those who take the time to understand and truly analyze the facts are reaching the right conclusion"
Ok, let me have a stab.
You hold a lot of European debt - yes?
Europe is not going to pay it back - yes?
Not paying it back was never in your risk calculation when you took the positions - yes?
Conclusion - you're fucked. Get out of my orrifice and don't make a noise on the way.
Who are these 'right conclusion' people anyway? - Goldman Sachs? Other banks? - Sorry, their reputation as analysts is rather shit since they said "this TARP thing will fix the problem"...
at least the heat is off the fringe bloggers for a short time, BiCheZ!
Just in time for the holidays......HOORAY!!!!! Another fucking financial rapist going down!!!!!!!!
Why don't they follow the EU lead and ban short selling?
That will keep the stock from tanking for sure!
'Last week, a representative of a hedge fund, who we understand has been spreading false rumors about Jefferies, sent us a letter with a series of questions that for the most part show what we must presume is an intentional misreading of our public filings to try to support these rumors.'
Hamlet: Madam, how like you this play?
Queen: The lady doth protest too much, methinks.
Wm. Shakespeare (aka Christopher Marlowe)
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