Comments on Fund My Mutual Fund: Government Ban on Naked Short Selling in 19 Financ...

Widipedia - A "plank owner" (or plankowner) is an ...

2008-07-27T21:56:00.000-04:00

Widipedia - A "plank owner" (or plankowner) is an individual who was a member of the crew of a ship when that ship was placed in commission. Originally, this term applied only to crew members that were present at the ship's first commissioning. Today, however, plank owner is often applied to members of newly commissioned units, new military bases and recommissioning crews as well.

sliman,I doubt flocking as Barron's usually caters...

2008-07-27T18:47:00.000-04:00

sliman,

I doubt flocking as Barron's usually caters to older institutional money - the exact type of people we are on the opposite end on. Hopefully a few people who never heard of the website take an interest, follow along for a few months and have an open mind. It does help to increase awareness which is always good.

hrs, I am unfamiliar with what a plank holder is?

stonefox,
he is late but I just think most of Wall St was drinking the Kool Aid. Myself, I was owning SKF late last summer and in early fall and being decimated since the market was ignoring the reality as it shot up to all time highs in October 07. SKF is now the 2nd biggest winner for us since inception but I took some serious losses in the fall holding it, and SRS (real estate). Thats the problem with investing - you can be right conceptually but until the "herd" moves your way you suffer. We suffered a lot actually but I was typing all through September and October rants about what the market is missing. As always, perception is reality. Perception then was everything would be fine, because the Fed has our back and this was the kitchen sink quarter AND the sovereign wealth funds ("smart money") was beginning to buy so why shouldn't the small investor? I ignored all them. That said, I think the story still has legs to go and I think its still prudent for him to be cautious.

I like Dick Bove but he was calling for people to get back in 2 months ago and that would of wiped out people. I'm sorry but being an analyst or pundit without money on the line makes it very easy to continuously call for bottoms and "just start buying now because we never know when things turn around". If you say that 10x, eventually you will correct but if you manage money your capital will be decimated. I do believe the yield curve will help the financials since they can borrow cheap and lend expensive - the Fed has done everything possible to tilt everything in their favor. If they cannot thrive in this environment that really says something.

sdk,

you said will it speed up the recovery. I'd argue it prolongs the recovery. We won't get to a market clearing price because Congress wants to win elections and kick the can down the road. Until the price to income ratio of homes falls into line you won't see a real market clearing price that allows for recovery. And we all pay with a struggling dollar, and more money creation and/or borrowing that we don't have. We are a subprime nation who just took out another $160B loan for stimulus and another $300B for home assistance and now Paulson has an unlimited Bazooka (who knows what number that is) to defend Fannie and Freddie. So figure $500B MINIMUM just thrown at the system. And the system still struggles. And your grandchildren become more broke. Instead of letting the system cleanse itself.

So Congress has passed this massive housing bailou...

2008-07-27T12:55:00.000-04:00

So Congress has passed this massive housing bailout this weekend. Supposed to keep 400,000 in their homes, will this put a dent in the housing swoon and actually speed up the recovery? Or just another ill-fated effort?

It strikes me this guy is very late to the game to...

2008-07-27T11:36:00.000-04:00

It strikes me this guy is very late to the game to move to cash. Where was he in mid 07? Guys like Dick Bove and Tom Brown would be considered more financial experts and they both see the system as much stronger then just about everybody. Most of the banks still have incredible deposit bases and long term earnings potential once we get through this crisis which is alot closer to being over then you think. For example, check out Ton Browns research on the ABX-01. A full 58% of it has already been paid off as of 6/25. Their is only 20% remaining and they've been paying for 2.5 yrs. So where is the remaining writeoffs going to come from? Guess i've yet to see a financial bear that actually had hard facts. Most just making noise and running scared.

do us pre-Barron's regulars get plank-holder statu...

2008-07-27T08:19:00.000-04:00

do us pre-Barron's regulars get plank-holder status when the funds are launched? :)

TraderNice piece on you in Barrons. Hope the money...

2008-07-26T21:42:00.000-04:00

Trader
Nice piece on you in Barrons. Hope the money comes flocking in for your fund.
I am adding to SKF and may take a flyer on airlines, otherwise staying with commodity stocks.

My biggest question is how does this affect the SK...

2008-07-26T14:57:00.000-04:00

My biggest question is how does this affect the SKF? I know they use other instruments to create the leveraged affect, but don't they short stocks too? I'd be interested to find out. Nice find.