tag:blogger.com,1999:blog-2335748440449035592.post9205207295992520018..comments2008-09-19T12:30:11.447-04:00TraderMarkhttp://www.blogger.com/profile/06241756200482130281noreply@blogger.comBlogger9125tag:blogger.com,1999:blog-2335748440449035592.post-50199568814804811342008-09-19T12:30:00.000-04:002008-09-19T12:30:00.000-04:00I like the theory, and if my cash is going to be invested in any financial institution you could pick far worse than WFC<BR/><BR/>the chart looks pretty ridiculous <BR/><BR/>kevlar kenneth?Johnhttp://www.blogger.com/profile/11523346610266615657noreply@blogger.comtag:blogger.com,1999:blog-2335748440449035592.post-80072811121079197992008-09-19T12:01:00.000-04:002008-09-19T12:01:00.000-04:00John, I have a theory on Wells Fargo<BR/>I think its a top 3 position for Heebner and that is why it is so strong<BR/><BR/>word got around from the desk that did the order for Heebner, and everyone else piled in. Its been untouchable for weeks.<BR/><BR/>We'll know in mid October when his Sept 30 holdings are listed.TraderMarkhttp://www.blogger.com/profile/06241756200482130281noreply@blogger.comtag:blogger.com,1999:blog-2335748440449035592.post-68432489533900779092008-09-19T11:57:00.000-04:002008-09-19T11:57:00.000-04:00Walt,<BR/><BR/>Goldman had the ultimate contigency plan in place. Now it was time to execute it<BR/><BR/>Guy,<BR/>I think when institutions started to distrust money markets and pull money and LIBOR is off the chart and no one lends that could cause financial ruin. The institutions panicked more than the individual.<BR/><BR/>Look I'm a libertanian at heart - more by the day when I see what these 2 idiot parties are doing. I am upset at all the steps up to this and the fact a bunch of blind boozos either were blind or fought regulation every step along the way. I'm mad at all those who got rich and we're subsidizing them. But without sucking out this cancer from the system, I believe the system would break down. I just cannot believe the dollar is rallying on this increase in liabilites to the American people. I'm not happy about any of it as a citizen. But it could of been stopped at any number of places along the way - as simple as requiring every originator to take 1-2% of every loan on their balance sheet in 2003-2007 would of stopped this alone. But we are the land of "financial innovation" - MBAs souped up as car salesmen and a political party that preached every day for years on end regulation is evil. I can only imagine the outcry if Democrats were in WHite House. Republicans would hang it over their head for next 50 years.<BR/><BR/>I am also sick that so many small businesses can fail and no one gives a damn or we've outsourced most of our "production" and instead pushed capital into our financial innovators. Would a manufacturer ever do something like this and cause such harm to the entire system? What a joke.<BR/><BR/>Wez,\<BR/>In my "exasperation" piece yesterday I wrote what I did. When I saw the news I dumped out of most of my short exposure, and have started rebuying back some this morning to remain somewhat hedged. <BR/><BR/>Phil,<BR/>O'Neil got kicked out because he was honest. He wanted the administration to be truthful and put items on the budget that should be there and for that he was "ushered" out. Whatever you think of him, he struck me as an honest person. Obviously a person like that cannot operate in D.C.TraderMarkhttp://www.blogger.com/profile/06241756200482130281noreply@blogger.comtag:blogger.com,1999:blog-2335748440449035592.post-62824879304284162802008-09-19T11:34:00.000-04:002008-09-19T11:34:00.000-04:00I don't even want to think where we would be w/ O'Neil in there. That's really scary......philhttp://www.blogger.com/profile/09006553718103777929noreply@blogger.comtag:blogger.com,1999:blog-2335748440449035592.post-78948805081901828692008-09-19T11:06:00.000-04:002008-09-19T11:06:00.000-04:00guy I couldn't agree with you more about companies being "too big to fail". Sometimes you just have to clean the weeds out of the garden. Corporate Darwinism right before our very eyes.Someone Somewherehttp://www.blogger.com/profile/12925623709780529874noreply@blogger.comtag:blogger.com,1999:blog-2335748440449035592.post-41248225635314254502008-09-19T10:24:00.000-04:002008-09-19T10:24:00.000-04:00Heebner - "30% Financials" in the focus fund- I hope he takes the opportunity to lighten up and layer back in at lower prices if he has strong convictions about the sector, which he rarely lacksJohnhttp://www.blogger.com/profile/11523346610266615657noreply@blogger.comtag:blogger.com,1999:blog-2335748440449035592.post-60832491614296923052008-09-19T10:21:00.000-04:002008-09-19T10:21:00.000-04:00So what are you thinking Mark, have you got rid of all your short ETFs? How long does this false rally last?Wezhttp://www.blogger.com/profile/08972841161677185051noreply@blogger.comtag:blogger.com,1999:blog-2335748440449035592.post-75589109804757487742008-09-19T09:55:00.001-04:002008-09-19T09:55:00.001-04:00Hi TM:<BR/><BR/>Look at the Jim Bunning interview on Bloomberg; I always thought Bunning was useless, but now he is the only one talking sense. <BR/><BR/>Note in the interview that the reporter buys into the line of thinking that everyone else has done: they are too big too fail. And Bunning actually refutes this. Once again this idea of they are too big too fail is BS. If AIG fails life will go on today like it did yesterday and someone will come along tomorrow with a better idea.Guyhttp://www.blogger.com/profile/09198161809721597881noreply@blogger.comtag:blogger.com,1999:blog-2335748440449035592.post-20329305976801551652008-09-19T09:55:00.000-04:002008-09-19T09:55:00.000-04:00it's good to have friends in places<BR/><BR/>ps i was just messing with you on taking 2 hrs lunch break.<BR/><BR/>walt.Walthttp://www.blogger.com/profile/06858631069778591431noreply@blogger.com