Thursday, September 11, 2008

Lehman Brothers and the Financials

What a wierd day. MER, AIG, and LEH hit millenium lows and the financilas go up. Oil prices practically tag $100 an energy stocks rally. Go figure. It was a perfect day to sit on my hands and do nothing but I had to play in traffic. It wasn't that bad but it was a sruggle.

The Wall St. journal reports that BAC has spoken with LEH about a bailout, I mean merger. A spokesperson for BAC said they would make the acquisition if "encouraged by the government." Don't you just love an enthusiastic buyer?


About Me

My photo
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.