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Doin' It Bloggystyle: Remember Fletch


Minyanville brings together the best of what they are saying "out there" about the topics we're talking about right here.


Blogs themselves need no introduction, as they get as much publicity as pretty much anything these days, save maybe the latest Britney news. There's an expanding world of excellent financial blogs, covering just about everything, from global economics to swing trading. Minyanville's goal is to bring together the best of what they are saying "out there" about the topics we're talking about right here.

Records Nurse: Oh, Doctor, are you all right?
Fletch: Where am I?
Records Nurse: You're in the records room.
Fletch: The records room? Oh, then I'm fine.
Records Nurse: Can I get you something?
Fletch: Yeah, do you have the Beatles' White Album? Never mind, just get me a glass of hot fat. And bring me the head of Alfredo Garcia while you're out there.

  • The walls come tumbling down, TechCrunch notes, as Madonna dumps the recording industry.
  • Felix Salmon scratches his head as he does the Madonna math.
  • Blogging Stocks on the tough future for Warner Music.

Fat Sam: I got some reds.
Fletch: You don't mean communists, do you, Sam?

  • Bill at VIX and More ponders when to short China.
  • Nickel version? Maybe when the 10 Day SMA dips under the 65 day, something along those lines.
  • Or maybe you just buy some FXI puts, as Contrary Canary wonders.
  • Volatility about all-time highs now, which oddly is often a good time to buy gamma as it coincides with a stock making new highs (not necessarily recommended for everyone playing the home version of this game).
  • Or, keep it simple and just go long FXI with a trailing stop, as Bill Rempel notes in the comments at VIX and More.

Pathologist: Ever seen a spleen that large?
Fletch: No, not since breakfast

  • Bespoke with a look at the Commodity ETF's, pretty universally overbought.
  • Afraid to Trade on playing overextended conditions. How to keep the trend your friend.

Alan Stanwyck: If you reject the proposition, you keep the thousand - and your mouth shut.
Fletch: Does this proposition entail my dressing up as Little Bo Peep?
Alan Stanwyck: It's nothing of a sexual nature, I assure you.
Fletch: Yeah, I assure you.
Alan Stanwyck: One thousand just to listen? I don't see how you can pass that up, Mr...?
Fletch: Nugent. Ted Nugent.

  • Well, color me (happily) wrong on this one. Roger Clemens clearly provided no marginal value in the regular season, and didn't exactly improve in the playoffs as I thought he might.
  • I also thought Paul Byrd would get torched in Game 4, so when I note that D-Backs seem like a good value play as an NLCS underdog, I'm probably a fade.
  • Darren Rovell breaks down the Clemens numbers, with some nuggets like the cost to the Yankees per Clemens start ($1,375,921) and per win ($4,127,763).
  • Joe Torre? Not the greatest deal either, as Baseball Prospectus demonstrates. But it's not really a dig at Torre, rather at the value of a baseball manager in general.
  • But don't tell Suzyn Waldman.
  • Of course this is all small potatoes compared to the upcoming A-Rod Sweepstakes. Agent Scott Boras has some numbers running through his head.
  • "One of the other things that Alex has that some of the other things that Alex has that few players have is he has network value," Boras said. "That means for a regional sports network he has an impact on in that may allow that regional sports network to increase by a half-a-billion to a billion dollars over a 10-year period because of the ratings increase that he will bring. His fan base will subscribe to that network to watch him play and they will sell more advertising. This has certainly been evidenced in New York."
  • The evidence? The Yankees average TV ratings have gone up from 3.2 to 4.7 in A-Rod's tenure.
  • Darren Rovell interviews Vince Gennaro, author of "Diamond Dollars: The Economics of Winning in Baseball.", and gets some slightly different numbers.
  • "More realistically if the Yankees went forward without A-Rod, it's reasonable to expect the team would suffer in terms of wins and losses. Losing seven or eight wins could cost the Yankees nearly a full ratings point, which translates into about $12 million per year in YES revenue. If you add A-Rod's marquee value (same as Boras' 'iconic value'), that could impact the value of the YES Network as an asset to the tune of about another $10 million per year. Keep in mind the Yankees own 36% of YES, so the impact on the Yankees (and therefore the portion of A-Rod's YES Network impact for which they should be willing pay) is about $8 million per year (36% of the total YES impact of $22 million)."
  • I think the issue here is the Yankees already have sky high ticket prices, and a new stadium going up that is going to sell out anyway, and already have a cable network that is not going massively accelerate revenues from this point going forward, no matter what A-Rod does. So where's the real upside?
  • Probably for some mid-market team, that's where. He could be like Gretsky going to the LA Kings for some that could lift ticket prices and suite sales and ultimately build a network around him. Maybe Boras can talk some off the radar team like the Mariners or Rangers to do it.
  • Wait a sec, I think they both tried the A-Rod thing before, nevermind.
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Position in FXI
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