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Terms of Endearment


Congrats Steve!


I've been first and last
Look at how the time goes past
But I'm all alone at last
Rolling home to you

(Neil Young)

As the broad brush of blame continues to paint the street, it's easy to forget that our industry has its fair share of fine folks. While the headlines focus on malfeasance and corruption, the simple success stories are often overlooked. It's in that vein that I would like to congratulate Steve Starker on his retirement as a partner from Goldman Sachs. Steve's loyalty, humility and honesty epitomize everything that's right on Wall Street and I'm proud to call him my friend. Good luck brother -- if good things happen to good people, the best is yet to come!

Today's tape did little to quell the great debate although the Minx continues to exhibit impressive shrugs. There's no denying the underlying tenor, Pavarotti, but a structural element has been introduced to the macro mix. While Brian did a fine job of discussing the recent bond rippage , the real reasons won't be found without the benefit of hindsight. One thing for sure, it's treacherous out there! Stay tight, stay sharp and, for the last time, stay off the drugs, son!

I'm gonna power down with my drippy gamma and ready myself for the Michael massage. Mr. Dell (DELL:NYSE) historically emphasizes his competitive advantage, but this go around, there's chatter of upward guidance and some interesting technicals. I'm not playing it, per se, but you can be sure that his voice will echo throughout tomorrow's tech tape. That, along with Elmer, should be factored into our overnight risk profile.

Queen Casey, who missed the redeye, arrives at 5 and I'm looking forward to the shared mojo. Minyanville is a labor of love but make no mistake, there's a fair amount of labor involved! Her broad shoulders carry a heavy load and it's been a while since we kicked it and hoisted a glass of bricco. I'll tell ya, there's nothing better than working with someone that you genuinely care for as it makes the grass greener and the wine sweeter.

A big Texas-sized HAPPY BIRTHDAY to cowboy John B. Collier and warm wishes to the rest of my fellow Minyans. We've got one more day before our requisite two-day respite, my friends, so keep your heads up and spirits high -- we're almost there.

Have a peaceful night.

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