Witch Way Randoms
By Todd Harrison Dec 17, 2004 7:44 am
Hit 'em hard!
- Corporate America spent $575 billion on takeovers since the start of October (the busiest M&A activity in almost four years)! Snaps to Brian Reynolds for eyeing the trend (along with the surge in buybacks) before it became a trend.
- Do FASB employee stock option regulations matter? As Minyan Michael Santoli offered in the wee early hours this morning, it'll likely let the air out of tech premiums over the next few years.
- Dyslexic lovers?
- Running on Empty? The Conference Board weighs in on deficit spending and entitlements.
- Sometimes the scribin' vibe effortlessly flows through my fingertips. Other times, like now, the effort weighs a bit heavier on my back. There's no shame in admitting when you're fried (toasty!)and I'm ready for the Arizona desert and some spiritual refocusing.
- In response to the "pay to play" internal probe, Fidelity has "disciplined" 14 employees and fired two others. While further inquiries and probes "around the Street" will likely impact lifestyles more than bottom lines, it remains my opinion that this situation will get very loud by the time it's run its course.
- Phil "my pockets" Erlanger noted the inflection point that is biotech yesterday. This sector--along with the nets--will likely be the master betas into year-end.
- I maintain that the key to the vault is in the financials.
- The internals have been the bovine bummer of late but the tape hangs tough with the breadth so rough. Something is gonna give--either the weight of the world will drag down Santa OR the traction in the face of the lopsided lethargy is a sign that things will be fine (once breadth gets better)
- I used to get down when folks didn't "get" the vision of the 'Ville. Now I get excited--it's one more person that will eventually "see" it.
- Be careful for what you wish.
- I've learned a lot from my fellow professors over the last couple of years. I've come to respect the corporate bond market as an equity thermometer (thanks Horse). I've become more aware that markets are non-linear and operate as a function of time (thanks Scotto and Succo). I've found that a collective effort with specialists you trust is much easier than going it alone (thanks everyone!).
- Five more days 'till the Minyan Philanthrofest! The buses will start rolling in Sunday as the professors arrive in the big city. And taking our cue from Crested Butte, what happens at Festivus STAYS at Festivus!
- In the end, he chose the money!
- Shouldn't a global expansion fuel my M&A benefit investment bankers?
- Why has behavioral science become an integral aspect of financial forecasting? Monitoring the "me first" economy has huge implications as we wade our way through the perceived "benefits" of debt vs. the implications or regret.
- Joel Crytzer, 63, was charged with marijuana possession in November in Butler, Pa., when officers spotted some on the floor of his car. They had stopped Crytzer because he had been cruising down the road, seemingly oblivious of the fact that his car had only three tires. (Pittsburgh Post-Gazette)
- "In a deflation people want to hold more cash, they want to become less risk-oriented. That people are raising cash (lowering margin) speaks to the strength of the underlying deflationary trend. And its impact? Since every SPX point from 2002 has benefited from a reflationary bias (by the fed, by investors, etc.), the removal of liquidity (via the reduction or margin) is actually a profound negative to a market that has subsisted on liquidity alone." -Scott Reamer
- More vibes on social insecurity from Texas.
- S&P 1200 remains initial support (for the uber-tight Minyans among us). Please note, however, that my S&P and NDX stochastics are in the red zone.
- That's some loooooong pinstripes!
- Everything is funny when you're making money but you find out who your true friends are when the chips are down.
- Does anyone miss hockey?
- The witches of freakness are set to arrive as they ready anew for a swim fan type dive. With most indices set to start their holiday on the opening (and individual names bowling into the close), we should also note that the S&P rebalancing will, by some estimates, usher in $5-$6 billion in supply at the end of the session.
- I'm gonna jump over to the Buzz and help the boyz through the morning. I sincerely hope you all have a fine day and end the week with some jingle in your jeans.
No positions in stocks mentioned.
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