The Maserati is in fifth gear as it speeds toward government control and manipulation of almost everything. The chatter now is a massive cut in Fannie and Freddie backed mortgage rates to 4.5%. I'm currently waiting for my credit card debt and auto loan debt to be completely forgiven so we can----just start all over again. That's how I read this whole disaster.
I still believe the financials are the short of the millennium as their revenue models are now completely broken and their ability to make money becomes further impaired. The complacency in here is mind boggling. Saved by zero soon?
If someone asked you a year ago where you thought the market should trade if the auto makers went bankrupt and our financial system would completely implode what would you have said? I think 5 or 6000 would have been a reasonable response. What do you guys think?
Thursday, December 4, 2008
Fed Led Policy Everywhere
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About Me
- upsidetrader
- 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.
2 comments:
Never thought I would see the market get pounded like this &
so many smart money managers look sofoolish.Financials are a very very attractive short setting up w silly news like GS deciding to become an online bank confirming this.
all so true!
how are we going to get out of this?
Why hasn't anyone asked that question?
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