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Wall Street Breakfast: Must-Know Newsby SA Editor Rachael Granby- Bank trio becomes duo. Wells Fargo (WFC) will become the largest U.S. bank by branches with its bid for Wachovia (WB), after Citigroup (C) withdrew from compromise negotiations late yesterday on concerns about the quality of some of Wachovia's assets. Wells Fargo, with a bid valued at $11.4B, expects the purchase to be completed by the end of the year, and denies it will have to absorb assets shakier than originally thought.
- Government considers next steps. As the financial crisis continues to worsen, the U.S. government is considering two dramatic steps to turn around, or at least slow, the damage: guaranteeing billions of dollars in bank debt and temporarily insuring all U.S. bank deposits. The moves, which would mark the government's most extensive intervention to date, are in discussion stages only.
- Credit stays frozen. As frozen credit markets refuse to thaw, the cost of default protection on corporate bonds reaches new global records amid investor concerns the credit crisis will trigger corporate failures as companies struggle to finance their businesses. Interbank lending remains limited, and borrowing from the Fed's expanded discount window continued its trend of setting new highs every week, as the total daily average rose to $420.2B vs. $367.8B last week.
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- An Outcry from Emerging and Developed Markets Alike by Jonathan O'Shaughnessy
- Long Term, Financials Look Good by Michael Filloon
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Oil Price- Oil Below $75: Increased Chance of OPEC Production Cuts by Money Morning
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- Jim Cramer's Picks -SampleBetter Choices - Cramer's Lightning Round (10/15/08)by SA Editor Rachael GranbyStocks discussed in the lightning round session of Jim Cramers Mad Money TV program,
Wednesday, October 15.Bullish Calls:Continental Resources (CLR) -- "This is a remarkable decline. All of the high quality ones are down so much, I can't go against it. This is where you pull the trigger.
3M (MMM) -- The moment this stock starts yielding 5%, I'm a buyer. Until then, keep your powder dry.Bearish Calls:Computer Sciences (CSC) -- This is a company that was going to be bought, but they passed up the chance. Now I don't want to buy it."Email continues...
Annaly Mortgage (NLY) -- I think this is a business model that needs to borrow money. Definitively do not buy."
Northrop Grumman (NOC) -- You can't own the defense stocks right now. If I had to own one, I'd look at Lockheed Martin (LMT) with its good dividend. - Stocks & Sectors -SampleSeeking Alpha - Stocks & SectorsInternet
- eBay: Q3 Looks Good but Q4 Guidance Disappoints by Greg Feirman
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- Three Years On, Buying MySpace Looks Like One of Murdoch's Smartest Bets by Erick Schonfeld
- How Will Arbitron Fare in This Market? by Sreeni Meka
Telecom- Ten Ways to Invest in Louisiana by Stockerblog
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- Shared Docks Via WiFi All the Rage by Dean Bubley
Financial- Switzerland Strengthens Its Banks; Short Interest Remains Low by Jessica Johnson
- Reality Bites As Stocks Continue To Collapse by The Mole
- LIBOR Shows Worst Is Yet to Come for Credit Markets by Keith Fitz-Gerald
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- An Outcry from Emerging and Developed Markets Alike by Jonathan O'Shaughnessy
- USANA Health Sciences Inc. Q3 2008 Earnings Call Transcript
- Perfect World Announces Share Repurchase Program by Trader Mark
- China: Hot Money Inflows Down, Nervousness Up by Michael Pettis
India- Indian Economy Has Much to Cheer About by Equitymaster
- India: RBI Cuts Cash Reserve Ratio by Equitymaster
- India: Markets Continue Downward by Equitymaster
Japan- Sanyo Enters Thin-Film Market, Goes Up Against Sharp by Greentech Media
Asia- Four International Dividend Stocks to Watch by David Hunkar
Eastern Europe- Reality Bites As Stocks Continue To Collapse by The Mole
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- Seven Stocks for an Impending Apocalypse by H.J. Huneycutt
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- Too Early To Buy Homebuilders ETF by Larry MacDonald
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- Two Global Infrastructure Investment Opportunities in ETFs by Investment U
New ETFs- First Trust Launches Infrastructure ETF with Global Reach by Index Universe
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Emerging Market ETFs- Brazil Is the Best of BRIC by Carl T. Delfeld
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US Market- An Outcry from Emerging and Developed Markets Alike by Jonathan O'Shaughnessy
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Housing & Real Estate- Too Early To Buy Homebuilders ETF by Larry MacDonald
- Another 'Root Cause' That Isn't: Tumbling Home Prices by Tim Iacono
Transcripts- TrueBlue, Inc. Q3 2008 Earnings Call Transcript
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Latest Comments61 Comments
Shorting U.S. Government Risk
I am so happy that you have been able to bet against everyone so successfully.
The Failure of TARP and the Government's Solution
The 4 Golden Rules:
1. Reinstate the Up-tick rule
2. Crack down on naked shorting
3. Institute some rules on what should be said on National TV to prevent rumor-mongering
>>>>>&g... Pass a Wind-Fall Capital Gains Tax of 65% on ALL short sales retroactive to 01/01/08.<<<&...
BUILD.. BUILD.. BUILD.
JOBS.. JOBS.. JOBS.
DRILL.. DRILL.. DRILL.
Shorting U.S. Government Risk
When is enough enough?
Canadian Royalty Trusts Will Never Return to Their Former Glory
General Electric: Genuine Risk of Collapse?
This should read: The virtual crash in the stock market indicates that there is something seriously wrong with short-term trader mentality and the lack of regulations on short sellers.
If we don't do something about these 2 things soon, we ALL will have a lot more to worry about then just GE's stock price.
BTW: your article is total bs.
Less Negativity, More Inflation
“The future has not been written. There is no fate but what we make for ourselves.”
www.youtube.com/watch?...
BUILD.. BUILD.. BUILD.
DRILL.. DRILL.. DRILL.
Memo to Warren: AmEx Preferred at 15%, Warrants at $12
I hope his practice of having surrogates put companies into financial trouble so he can pick up the pieces, is not utilized by the innocents he just help get elected.
On Nov 16 04:02 PM Canuckify wrote:
> Apppro - why should Buffet bail you out? He has a fiduciary obligation
> on behalf of his shareholders in Berkshire not to make the same stupid
> mistakes as the rest of corporate america.
>
> While I am not a shareholder in BRK, I wonder why everyone thinks
> he will come to the rescue of everyone. He's the ultimate capitalist,
> and as GE and GS know, he drives a hard bargain.
>
> I am also humble enough to know that I shouldn't be writing him any
> memos nor making any recommendations. I can only watch, marvel at
> his patience, and try to learn a thing or two so that I can improve
> my own performance down the road.
Memo to Warren: AmEx Preferred at 15%, Warrants at $12
Hey Mr. Bigshot,
If you had just not been such a wise guy 1 year ago and had just invested in Ambac and MBIA without some absurd limits, maybe just maybe, this entire financial mess could have been prevented.
Think about it!
Sirius Reverse Split Only "to Satisfy Listing Requirements"
In a market like this, trying to make the Nasdaq happy is NOT in SIRI's best interest. Hey, it was the Nasdaq's total lack of control over 'Hedge Funds Gone Wild' that has driven the price to $.25 in the first place.
NO REVERSE SPLIT!!!!!!!!!!!!!!
What Does Bernanke Really Know about the Great Depression?
Squat!!!!!!!!!!!!!!!!
Global Recession Is an Economic Reality
www.youtube.com/watch?...
More on TARP and the Insurance Industry
Take a small amount of that ‘Rescue plan’ = maybe 20 billion and buy back the CDO’s of the muni bond insurers (Ambac, MBIA) – RIGHT NOW! Recapitalize them, as Sec. Dinallo of NY wanted to do 10 months ago.
Make sure the ratings agencies then immediately upgrade the ratings back to AAA, which they said would happen. Then come up with a universal set of rules that those agencies must play by.
Have the FED give an implicit guarantee to ANY NEW insurance policies written on the bonds. Basically guarantees the bond’s triple A, not the policy or the company just the bond until new triple A can be found. Doesn’t cost a nickel.
Have the Fed could kick in an incentive for any bonds issued for Capital Projects to help with employment and infrastructure.
NOW the municipalities can issue bonds and BUILD.. BUILD.. BUILD. Puts people back to work. Pays our bills, etc. We need the bond insurers restored back to normal and we need it now. Solves ALL the issues at little or less costs.
Finally Some Good News for Sirius Shareholders
Screw the Nasdaq and their rules. At $.35 who cares where we're listed.
NO REVERSE SPLIT! I'VE MADE THE SHORTS RICH ENOUGH!
Is Citigroup Laying Off Analysts?
lol
Did the Short Selling Ban Work?
Individual stocks? We don’t need no stincken’ individual stocks!
We really have really given ourselves a big headache and the tail is truly waging the dog.
DRILL.. DRILL.. DRILL.
BUILD.. BUILD..BUILD.
Only way out.