Random Thoughts: What Does it All Mean?
Rescue plan couldn't make it through Congress.
Editor's Note: The following was posted in real time on our premium Buzz & Banter. It's being shared here for the benefit of the Minyanville community. See also Fighting the Good Fight, Band on the Run and Sniffing Out a Script.
Answers I Really Wanna Know... - 12:07 pm
Does anyone else think that this is nuckin' futz?
- Define "Big" please?
- What's a better vehicle to bet against the buck, FXY (Yen) or UDN (short dollar)?
- You can lead a bank to liquidity but you can't make it lend?
- If you Google "the process of price discovery," would you find a picture of our September to Remember?
- While the banking survivors have been circled--JP Morgan (JPM), Wells Fargo (WFC), Bank America (BAC) and now, I suppose, Citigroup (C)--will Minyans please remind themselves that there's a difference between a good company and a good stock?
- For didn't we have the same conversation about Research in Motion (RIMM) when the stock was twice the price of current levels?
- Is there a rule regarding the suspension of Judaic Habeas Corpus?
- In other words, is it kosher for me to do live TV tomorrow morning before attending services with me Moms?
- Aw come on, haven't we learned that a little levity goes a long way?
Hank is Moody! - 1:05 pm
We said it on Friday and we'll say it again. If there are two things I know for certain, it's that people on ludes should not drive and politics and derivatives don't mix.
Particularly given how haphazard the political decision-making process has been.
My crude stab was stopped out for a small loss, so you know. Discipline over conviction as we find our way through this process of price discovery.
If I had the back of an envelope, I would venture to guess that it would sorta align with VXO 70. I'm not in the "let's draw a line in the sand" business but as we've discussed it, I wanted to circle back to it.
On the bright side, Californication has started the new season. So at least we've got that going for us.
The wild-card in this equation? I know, loaded question but here goes. Redemption Songs. There will be far fewer hedge funds going forward and the unwinding of that risk--on top of the obvious big bank culprits--hasn't been discussed much by the media.
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 firstname.lastname@example.org.
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