Random Thoughts: Where's Alan Greenspan?
Does former Fed Head feel any guilt for what's happened?
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 Sock & Awe! and Mercury Rising.
The Sniff and Scratch! - 10:51 am
- Warren Buffett--who, by the way, signed the MV all-star guitar--is proof positive of what we've been saying. Those who have dry powder will be in a position to prosper when the time is right. It's too early to know how his Goldman (GS) bet or Constellation Energy (CEG) acquisition will play out but the point is that he deemed them of value and pounced in kind.
- You know what jumped out and bit my ankle this morning? Citigroup (C), which is a red pimple in an otherwise green financial complexion. Well, that and American Express (AXP). And AIG (AIG). Hey, this is real-time...
- While the exchanges (CME, NYX) will prolly have a monster quarter (due to the volume these last few weeks), I gotta wonder if their long-term prospects have substantially shifted as a function of the inevitable hedge fund shake out and brokerage deflation.
- Has the ETF bubble popped? I personally think they're awesome instruments to trade aggregate themes but it's an interesting question given the structural shift in the free market system.
- You know what woulda been awesome? If Ben Bernanke shaved his beard for today's second testimony. It could have been a "sign" of changing times and a boon to the collective psychology. Then again, nobody woulda recognized him and he would likely have been denied access to the hearings.
- Do you think Alan Greenspan feels any culpability? Anything at all? For the policies that were the genesis of these cumulative imbalances? For the twisting of the ARMS, stretching an already tapped consumer and extending the elasticity of the housing bubble? Anything at all? Even a little? No?
Answers I Really Wanna Know... - 11:39 am
- If they're gonna "persecute" the short sellers, where is the investigation into all the sudden buyers of Goldman Sachs (GS) into yesterday's bell before the Buffett news broke?
- Has trading boiled down to an artificial structural (can't short and tight borrows) vs. psychology (social mood and risk appetites)?
- If you're digging the 'Ville and wanna explore a custom Buzz for your entire firm, can you please do us a solid and contact us?
- I mean, we're a community that cares and we grow from within, right?
- Y'all see the slippage in the consumer non-durables (General Mills (GIS), Coca-Cola (KO), Pepsi (PEP)), right?
- What's Jim Grant's take on the dollar?
- If you were Hank, would you NOT push the button for a bit as you're trying to convince politicians to pass your plan?
- Need that cash to feed Dow Jones and the politicians throwing stones singing ashes ashes all fall down. Ashes ashes all fall down?
- Favor Minyans--will you please take a second to click on this link, click on "recent", find my name and click the "up" arrow?
(Long MV exposure, Short narcissism)
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 email@example.com.
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