Freaky Friday Potpourri: Nucking Futz!-Minyanville

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Freaky Friday Potpourri: Nucking Futz!

Todd Harrison Nov 21, 2008 8:45 am


		Sometimes you're the windshield, sometimes you're the bug.

As such, and as I’ve got a lot going on in my crowded keppe, allow me to funnel my thoughts through in a random manner:

Chatter swirled yesterday that foreign central banks cried Uncle Sam and redirected capital to the fixed income markets—you saw the long bond up 7 ½ points, right?
I made the conscious decision to carry my risk overnight. That's a shift in my stylistic approach (hit it to quit it) but, after hoarding cash for quite some time, I was (cough, wheeze, biting lip) comfortable with that. Famous last words, right?
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A Ship With No Captain? Hammering Hank stepped on stage yesterday and left without sharing “something seismic." In fact, the meat of his speech was somewhat shifty, saying it's "naive" to believe the Lehman Brothers failure caused a deeper crisis.
Further to that, he punted Fannie (FNM) and Freddie (FRE) into the lap of the next administration, saying their fate is in Obama's hands, while assuring investors that regulators have the tools necessary to maintain stability.
Whew, and we were worried...
Perhaps the most ironic element of this whole mess is that Warren Specter, Stan O’Neal and Chuck Price sold their holdings higher and netted hundreds of millions of dollars before their respective firms collapsed.
We asked in early October whether the proposed Citigroup-Wachovia (WB) deal was in fact an FDIC bailout of the former rather than a rescue of the latter. When Wells Fargo (WFC) wrestled away control, we wondered if Citigroup was still circled as a survivor. It seemed far-fetched at the time but not anymore.
Meow Mix? This is both adorable and very disturbing.
Minyan Emmanuelle (aka Minyan Sloan) is asking ye faithful to help Raise Hope For Congo by signing a petition to the President. You never know what type of ripples a positive pebble in the pond can create so I’m only too happy to pass it along.
Sur-prise, sur-prise, sur-prise! You can learn a lot just by watching and along those lines, Wal-Mart (WMT), Target (TGT) and Sears (SHLD) were giggled green in yesterday’s late day Art Carnage.
Wear sunscreen and read this when you can.
I don't know about y'all but I, for one, could use a break from this shake. I'll be scooting to Baltimore Wednesday for some turkey time as a start. There's something about the laughter of little kids that takes the edge off reality.
Was Carly Simon a narcissist?
Remember in 2006 when we said that our biggest concern was that we were at all-time highs but nobody felt like we were at all-time highs as we juggled concentric bubbles?
This is the other side of that trade, when we're swimming in the abyss and nobody feels like it'll ever get better. Make no mistake—this will take time and it will take work—but to get through this, we needed to go through this. That will fall on many deaf ears but we, the Minyans, need to remember that. Sometimes, perspective is all we have to sustain us.


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Comments (7)

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James Ryan

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11-21-2008, 9:15 am
In size. Read More

Eric Worthen

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11-21-2008, 9:49 am
Peter Schiff and another chart analyst (Woman - can't remember her name) both predicting on Fast Money last night S & P between 500-600 over the next couple of months. I heard some depression talk too. Good thing Read More

Jim M

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11-21-2008, 12:11 pm
Where we are and how we got here. (And the horse we rode in on.) Pundits claim the housing boom created a false economy and the last decade of market growth will be lost. We let house values increase way beyond affordability. It is not Read More

Paul Callahan

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11-21-2008, 12:27 pm
In the last few days I have had an epiphany, a Zen enlightenment satori moment on this idea. Exactly so, Mr. Harrison, and thank you. Read More

Mr Bacan

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11-21-2008, 12:56 pm
Just to let you know there is still a lot of debate about the sun. No one debates that burning to a crisp is bad for you. But the dermatologists don't want people to get any sun. The regular doctors point out Read More


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Todd Harrison is the founder and Chief Executive Officer of Minyanville. Prior to his current role, Mr. Harrison was President and head trader at a $400 million dollar New York-based hedge fund. Todd welcomes your comments and/or feedback at todd@minyanville.com.

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