Thursday, December 4, 2008

Charlatans, Rainmakers and CEO's

I thought it was a good time to mention some folks that pissed me off this year, and a few that I have a new respect for. Some were just innocently wrong.

Alan Greenspan-underestimated things

Ben Bernanke- miscalculated things

Alan Schwartz- said things were nifty and went bankrupt days later

Aubrey McClendon-went "ENRON" on himself

Boone Pickens- another hedgie that never hedged, wrong and out of business.

Dick Fuld-charlatan who looked down from his ivory tower as Rome burned.

Hank Paulson-lobbied hard for 40:1 leverage while at Goldman, then gets the keys to the kingdom and pulls a bait and switch on America.

Most hedge funds.

All mutual funds

Jimmy Cayne- was playing bridge and toking while Bear imploded.

Every analyst

Bill Miller-cuz value only works in bull markets.

The auto industry

The mortgage brokers.

The incompetents at the rating agencies- why aren't they in front of the Senate?

John Thaine-golden boy that doesn't get enough shit.

.....and hat tips to:

Nouriel Roubini
Meredith Whitney
Gary Shilling
Peter Schiff
Doug Kass


Tim Knight said...

No hat tip for Tim! I'm crushed!

ShortBus said...

Harry Dent does not get anywhere enough credit for calling this bust WAY earlier than anyone else.

upsidetrader said...

lol, nothing but love and respect Tim, great job this year and I am working you into the blog soon, if it wasnt for you I'd feel very alone-lol

Michael Goode said...

What kind of crack are you smoking? Bill Miller has never been a "value" investor -- he just calls himself one. And all the research shows that true value stocks outperform more in bear markets than bull markets.

Jon88keys said...

Nice List!

I thought Boone Pickens at least deserves a "good guy" award for all the political work he did this year. But I never understood why the heck he didn't take cover when commodities crashed.

Dax Desai said...

lol Reminds me of the closing credits of the movie "Matchstick Men"

upsidetrader said...



About Me

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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.