3 O'Clock High: The Google Experience
The Horror. The Horror.In response, Minyan "Private" Ryan writes:
The lovely, talented and suddenly less well-to-do Mrs. Jeffmacke just called to ask how my day was going.
"It sort of hit the wall just after 1pm when your... [deep nostril breath] 'our' Google (GOOG) position cost us some coin, and cost me my professional reputation" I replied with a slight quiver, "the stock is down way over 10% afterhours [for the record, it was crossing the screen at 360-something at the time]."
"Now you can buy some more for me, closer to price it was back when I first told you to buy me some!"
She's either a born trader or totally psychotic...
Is there a difference?If there is a difference, Ryan, I hope (wait... "Ryan's Hope?" Dangit...) they never develop a test. A lot of my close friends would end up more medicated than McMurphy just before he lost history's most one-sided pillow fight.
On the topic of taking a beating with stoicism, I'll share my thoughts on my Google-snuffing but stick to bullet points, as the topic is getting more than enough ink elsewhere (the best of which being on the Buzz...):
- Mrs. Jeffmacke is making a strong case for "born trader;" her "buy the dip!" gratingly chipper knee-jerk reaction would be up +30 bones at the moment.
- Profs Adam Warner & Todd-O the Surly have had a great back-and-forth regarding the hugely volatile Google options activity. I avoid trading options in the Go-Go names for exactly the reasons mentioned in the Buzz; the contracts are hugely expensive and very, very hard to game.
- Which is also why I didn't try to hedge the stock last night with puts.
- I wouldn't "advise" anyone to share my ulcer as a Google holder. I can only say, since I'm there, that it's roughly the same size as what I would put into an options play.
- In other words, "small and filed with the Lotto tickets, in regards to expected return."
- Finally... it's less than 10%... how do people expect "highly volatile" stocks to act?
"They shoot horses, don't they?"
Yum (YUM) brands has purchased the presentation rights to what will now be known as "the Kentucky Derby presented by Yum! Brands." Despite a branding alchemy getting raves like "somewhat odd" from sponsorship industry pundits, Yum's stock is up less than 2% on the day.
It's time for Yum management to pull the screen onto the track, distract the children and take a shotgun to this deal. At least one more natural sponsor gallops into mind...
CNBC auctions Greenspan Portait on Ebay; 100% of proceeds go to Autism Speaks.
The bidding is up to $40,000 as I write, great news for Autism Speaks, a truly worthy cause.
I don't want to be accused of kissing up to my friends at the network (my bright, talented and good looking friends) but I think it's a fan-freaking-tastic idea for the network to use their airwaves to draw attention to a worthy cause. Still.
The names change but the "Circle of Life" just a keeps on rollin'!
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.
Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
Daily Recap Newsletter