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4 months left
Joined: 07 Feb 2003
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mole
Joined: 06 Feb 2003
Location: Act III
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 Posted: Mon Mar 17, 2008 10:13 pm Post subject: |
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Follow the leader.
CFC croaks, then..
"One of the fund's lenders was Bear Sterns, followed by Bank of America, and Citigroup.
Then, on Friday, that collapse was followed by Bear Sterns (BSC).
Bear Sterns stock had fallen from nearly $100/share in 2008 down to $50/share last week, and then down to $30/share on Friday. JP Morgan today, announced they will buy Bear Sterns for $2.00/share, as long as their liability is limited!
At $100/share, Bear Sterns was worth $13 billion, today, worth $0.26 billion."
And why would semi-ailing JPMorgan get involved??
"This is why they are bailing out other banks; to prevent withdrawals in case people lose confidence in their entire fraudulent system."
sources withheld. |
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mindmetoo
Joined: 02 Feb 2004
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| Posted: Tue Mar 18, 2008 5:27 am Post subject: |
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Anyone that takes investing advice from a TV celeb, even if he passes himself off as a financial expert, is an idiot. Geez, if you can't remember recent history:
http://en.wikipedia.org/wiki/Henry_Blodget
You deserve to lose your money. |
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igotthisguitar
Joined: 08 Apr 2003
Location: South Korea (Permanent Vacation)
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| Posted: Tue Mar 18, 2008 5:35 am Post subject: |
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After transferring all investments & capital, outsourcing millions of jobs etc overseas, it seems the "bigs boys" have finally decided to
"pull the plug" on the western economy 
Ain't GLOBAL-ism grand?
Beijing 2008!!! |
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4 months left
Joined: 07 Feb 2003
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mindmetoo
Joined: 02 Feb 2004
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| Posted: Tue Mar 18, 2008 11:48 am Post subject: |
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| igotthisguitar wrote: |
After transferring all investments & capital, outsourcing millions of jobs etc overseas, it seems the "bigs boys" have finally decided to
"pull the plug" on the western economy
Ain't GLOBAL-ism grand?
Beijing 2008!!! |
Self sufficient societies are subsistence societies. Look at how well self reliance is helping North Korea. We've known since Adam Smith's days that trade is the way nations grow rich. That you have a job teaching ENGLISH in Korea means you're a benefactor. Kinda stupid to bite one of the few hands that are willing to feed YOU. |
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igotthisguitar
Joined: 08 Apr 2003
Location: South Korea (Permanent Vacation)
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| Posted: Tue Mar 18, 2008 7:26 pm Post subject: |
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Economic refugees, surely many of us we are.
Cast, drawn out from the original lands of our births.
Here's a thought: both Marx ( FREEMASON founder of Communism if you don't consider Saint Simon or Thomas More )
& Adam Smith ( FREEMASON fonder of capitalism ) BOTH advocated "free trade".
Hmmmm ... but the two systems are "opposite" aren't they?
Why would Marx & Smith both have been keen advocates of such economic policies? |
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spliff
Joined: 19 Jan 2004
Location: Khon Kaen, Thailand
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| Posted: Tue Mar 18, 2008 8:50 pm Post subject: |
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| Marx was an expert at dialectics and a master displacer. He parlayed the effects and harsh realities of Capitalism, but it didn't mean he wasn't a capitalist himself. After all, he understood the psycho/socio reality of self-interest. |
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mindmetoo
Joined: 02 Feb 2004
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| Posted: Wed Mar 19, 2008 5:13 am Post subject: |
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| igotthisguitar wrote: |
| Economic refugees, surely many of us we are. |
Oh sure. And Nazi death camp guards were merely following orders. No. Sorry. You're here by choice doing the bidding of The Man. You're earning a good wage doing it. You're living high on the hog. Doesn't sound like a refugee to me. You're not a victim.
And the money you save, how much are you giving to good causes to fight The Man or help those true economic refugees?
Geez, you've sunk to new pathetic levels. |
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igotthisguitar
Joined: 08 Apr 2003
Location: South Korea (Permanent Vacation)
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| Posted: Wed Mar 19, 2008 5:46 am Post subject: |
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| spliff wrote: |
Marx was an expert at dialectics and a master displacer.
He parlayed the effects and harsh realities of Capitalism, but it didn't mean he wasn't a capitalist himself.
After all, he understood the psycho/socio reality of self-interest. |
Dialectics, yes.
YOUNG HEGELIANS.
http://en.wikipedia.org/wiki/Young_Hegelians
The more things change ... 
Anyways, from what i understand MARX supported free-trade b/c he believed it served to eliminate national boundaries & hasten regional ...
REVOLUTION.
For his part, Smith supported "free" "trade" principles b/c ... blah, blah, blah ...
http://en.wikipedia.org/wiki/Open_door_policy
http://en.wikipedia.org/wiki/First_Opium_War |
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OneWayTraffic
Joined: 14 Mar 2005
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| Posted: Wed Mar 19, 2008 6:55 am Post subject: |
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| mindmetoo wrote: |
Anyone that takes investing advice from a TV celeb, even if he passes himself off as a financial expert, is an idiot. Geez, if you can't remember recent history:
http://en.wikipedia.org/wiki/Henry_Blodget
You deserve to lose your money. |
That wasn't investing advice. He wasn't asked if the stock was a buy or sell. He was asked if it was wise to take his money out of Bear Stearns accounts because of "liquidity concerns."
In Cramers reply was "the worse that can happen is it gets bailed out or taken over." And that came to pass.
Still he should have been more clear on that. Made him look like an idiot a few days later.
Fully agree with you on the taking advice from celebs bit. The really good guys, Lynch, Buffet, Rogers will only tell you in most general terms what they're doing, or will give you all the detail years later. Buffet never ever gives out stock picks. He simply refers people to Graham and the principles of value and a margin of error.
Even if Cramer was always right, following his advice wouldn't profit you any because of the millions of others stampeding in the same direction. |
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