Good Morning. Futures are up slightly and it is the eve of yet another unemployment day. Meredith Whitney did a great interview with Bloomberg TV this morning. The interview is long, but very worthwhile. Basically she said that banks are on life support and will be for years to come, investors should run, not walk from buying common equity in financials because they have no protection, and she questions why the few remaining "good assets" are being thrown into the toxic receptacle which is a "bad bank."
The ADP employment number just came out and it is the 24th consecutive decline. The number was a decline of 522k jobs vs. over 600k last month. I would imagine that we will have a choppy day as we get closer to Friday's number.
I'm thinking if anyone should be supporting a flat tax, it would be this administration.
Wednesday, February 4, 2009
We Wait
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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.
4 comments:
today the Madoff whistle blower is in giving testimony at a congressional hearing. He just said that he will turn over to the SEC a $1Bill mini Madoff tommorrow... that might be what you mentioned in an earlier post
Hi there.(Been v.busy and will now attempt to catch up with your posts.)
One thing: kudos to you! It was on this site that I first learnt about Harry Makropoulos.
The links you posted in the early days of the Madoff scandal were a far superior source of information to anything that was then being published on, e.g., Bloomberg.
EE
different
Urzula
thanks
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