Wednesday, April 8, 2009

Hump Day

Here's me in the new GM PUMA on my way to a business trip in Chicago. I will arrive on July 2, 2011, but boy do I feel good about myself. Actually, it's a prototype manufactured with Segway which is a very cool product.

Pulte is buying Cenex in a deal that will prove to be pure genius or a complete disaster. Only time will tell. Futures are lower as the market continues to give back gains. Unemployment has hit Wall St in a big way as we all know, but this will be tough to swallow for some ex Wall Streeters. I can just see a former million dollar hedge fund guy taking direction from an incompetent govy bureaucrat with a room temperature IQ in his modestly decorated cubicle.

This was sent to me by my friend Tom in Phoenix last night, it appeared in the Arizona Republic:

Job pressures helped push Valley bankruptcies to a 41-month high in March with the big increase made possible by income tax refunds. “People now can afford to pay their bankruptcy attorneys because they got their tax refunds back” said Chris Dutkiewicz, an attorney in Gilbert.

Tom comments that the Feds would love to know that tax refunds are going to file bankruptcy and stiff creditors and wonders if the tax preparer got paid in advance to file the return or is now in line as a creditor in the bankruptcy?

Tough times for sure.


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.