Tuesday, September 30, 2008

Just Change The Accounting Stupid

Well,it looks like it's a good thing some smarter minds didn't buy into the "let's sign this bill Monday at dawns first light or Rome will burn" theory. I don't know how this bill will play out, but hopefully it will be far better than the one the tried to shove down or throats on Monday. I wonder if this gets resolved for the betterment of all of us, if the parties that did not sign the bill will now get some credit. But I digress, and the jury is certainly still out. It's still a lot of money but so far the tweaks look like they may make some sense. Bring in the FDIC and burn to the ground mark to market accounting and the nightmare may be easier to navigate. Amazing how things can change when cooler heads prevail.

I really just traded AAPL today. I really don't have any history with the name, any buys in the past were met with losses. I am the only human being on the planet that never made a dime in AAPL. Does anyone have a stock that hates you? That's AAPL for me. But today I did well with it. I posted on twitter that AAPL was being treated like it had sub prime and made asbestos. It was over done and I did well.

Cramer on in the background, what a complete schmuck.


Adam said...

I gave up on semi's a few years ago, they truly hated me. KLAC especially. I honestly do think you can get a feel for the way certain names move, and a complete lack of feel with others.

TheKing said...

I would disagree with your suggestion. Please take a minute and consider the ramifications listed over the The Big Picture. http://bigpicture.typepad.com/comments/2008/10/mark-to-market.html

The problem here isn't mark-to-market. The problem is greed, arrogance, stupidity, lack of planning, and other human flaws. The truth is not the problem, the problem is the problem.

I also found Jeffrey Miron's commented well founded. http://www.cnn.com/2008/POLITICS/09/29/miron.bailout/index.html?iref=mpstoryview

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I am a former hedge fund manager, broker and capital markets dude who now trades for his own account. I love what I do. I will try to post some stocks and an occasional chart that looks attractive for entry.I will also try to point out the idiocy of conventional wisdom and the lack of value added by the mainstream financial media. These postings should not be viewed as recommendations.