Look at these year to date losses in some large cap stocks. Absolutely staggering.
No. Ticker YTD Return Market Cap
1 CX -63.49 5,480,000,000
2 ANR -62.95 7,320,000,000
3 RIMM -62.91 16,010,000,000
4 MT -55.97 32,710,000,000
5 MTL -54.24 7,380,000,000
6 AIG -52.46 42,310,000,000
7 BAC -51.95 70,840,000,000
8 CCJ -50.25 8,770,000,000
9 LPL -49.80 7,210,000,000
10 MS -48.95 33,390,000,000
11 RF -48.28 5,600,000,000
12 WLT -48.01 5,200,000,000
13 RCL -47.95 5,600,000,000
14 LYG -47.93 43,320,000,000
15 VE -47.06 8,350,000,000
16 JNPR -46.48 11,670,000,000
17 NBG -46.43 5,490,000,000
18 SNE -46.23 21,710,000,000
19 C -45.94 83,020,000,000
20 TCK -44.87 25,160,000,000
21 ACH -44.35 9,360,000,000
22 SID -44.14 14,290,000,000
23 GGB -43.67 14,580,000,000
24 TTM -43.54 10,410,000,000
25 FSLR -43.51 8,830,000,000
26 FBR -43.29 7,160,000,000
27 BCS -43.14 29,960,000,000
28 GM -42.76 34,940,000,000
29 NOK -42.75 22,930,000,000
30 TS -42.66 18,940,000,000
31 HPQ -42.52 53,650,000,000
32 NMR -41.85 14,920,000,000
33 LFC -41.49 69,160,000,000
34 GS -41.42 58,710,000,000
35 FFIV -41.06 6,350,000,000
36 PHG -40.89 19,940,000,000
37 F -40.62 41,530,000,000
38 SPLS -40.25 10,540,000,000
39 FCX -40.23 43,420,000,000
40 STI -40.21 10,540,000,000
41 AFL -40.00 17,020,000,000
42 LNC -39.93 6,480,000,000
43 BSBR -39.49 34,890,000,000
44 HST -39.23 7,990,000,000
45 SCCO -39.23 27,160,000,000
46 DB -38.80 36,050,000,000
47 NFX -38.54 6,540,000,000
48 STM -38.54 5,830,000,000
49 TLM -38.00 16,790,000,000
50 CS -37.86 33,190,000,000
Scary Shit!
“My Ride’s Here”
–
I was staying at the Marriott
With Jesus and John Wayne
I was waiting for a chariot
They were waiting for a train
The sky was full of carrion
“I’ll take the mazuma”
Said Jesus to Marion
“That’s the 3:10 to Yuma
My ride’s here…”
.
The Houston sky was changeless
We galloped through bluebonnets
I was wrestling with an angel
You were working on a sonnet
You said, “I believe the seraphim
Will gather up my pinto
And carry us away, Jim
Across the San Jacinto
My ride’s here…”
.
Shelley and Keats were out in the street
And even Lord Byron was leaving for Greece
While back at the Hilton, last but not least
Milton was holding his sides
Saying, “You bravos had better be
ready to fight
Or we’ll never get out of East Texas tonight
The trail is long and the river is wide
And my ride’s here”
.
I was staying at the Westin
I was playing to a draw
When in walked Charlton Heston
With the Tablets of the Law
He said, “It’s still the Greatest Story”
I said, “Man, I’d like to stay
But I’m bound for glory
I’m on my way
My ride’s here…”
.
~ R.I.P Warren Zevon ~
.
werewolfs of london, saw lon chaney,walkin down the street, his hair was perfect,,,,
… one of tha great lyric lines ever written ! imo
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“his hair was perfect” … CLASSIC !!!
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Warren Zevon was a treasure … and yet … hardly anyone … realized it !
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What the fuck do you mean “hardly anyone realized it”? Are you 12 years old? Jesus, shut the fuck up you idiot.
I am posting Warren Zevon songs and paying tribute !
“12 years old” ??? Seriously ???
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I’m prolly old enough to be your Grandfather you fuckin’ lil bedwetter !!!
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… actually the lyric was …
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“saw a werewolf drinkin’ a Pina Coloda at Trader Vic’s … his hair was perfect” …
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Just sayin’ !!!
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lawyers, guns and money…a eternally powerful trifecta.
… love that tune !!!
.
the bottom is in.
I take it you’re being sarcastic.
But those companies dont matter any more. Dodos all of them, irrelevant, antiques.
Apple Amazon and Chipolte are all that matter IN THE BIG PICTURE. The rest is not worth your notice.
Well said Frank, I couldnt agree more. Brilliant.
Green Mountain is also crucial.
Don’t forget LULU.
… the “US Equity Markets ” teeter on the shoulders of “IPads, Kindles & Burritos” !!!
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Well isn’t THAT … SPECIAL !!!
—
PAH-LEEEZE !!!
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Why, because the machines only buy those? Ludicrous.
Thx, just trying to help, FOREST FOR THE TREES and all that.
Rough like in my head that’d be around $1.3T or about 10% of our GDP?
Oh…I forgot..we are out of the recession aaaaannd there is no inflation.
Also obvious. The chart overlay with the 30s.
Sorry calm down… not trying to scare anyone…sorry sorry
A different time but human greed fear and panic is the same. Just as is every bubble back to the TuLipS
stocks were never in a bubble this time around. 2007 maybe, 2000 definitely (but generally just on the tech side), but not earlier this year. SOME stocks were bubblish, but not stocks at large.
no kinda looking at the medium timeframe. The V-shaped recovery certainly a technical rebound but never really a recovery. The bust/consolidation from the “2007” bubble (or whatever) never truly resolved.
I think it could be argued however, that the fed did create an asset bubble with QEs: we went up now right back down
we’ve had 3 or 4 frightening corrections since the march 2009 bottoms. July 2009 was fairly amazing, enormous numbers of stocks dropped 20-30-50%, Jan 2010 wasn’t so much fun either, although less dramatic. Last summer was a full blown shitfest, and now this one is the biggest yet.
There are alot of stocks that are plain cheap. Including many on the list above. TCK is now just 10% above last summers “no brainer” buy price…
I maintain that nobody has an advantage in calling the economy or the markets here, as we are still betting on the actions of a fairly small number of people (politicians in the US and Europe). I guess I was right in saying that hte FED would dissapoint, but did I have an edge? No, just a hunch, an edumacated guess.
Its a complete crapshoot, riddled with uncertainty, hope, fear, and ultimately uncertainty. That is what markets hate the most, and in times of panic, uncertainty tends to be mispriced to the downside.
Its a total crapshoot, 10 hours a day I sit and try to estimate the most probable outcome, but I just don’t think there is an edge.
if i had to guess, the repubs get their way, and tank the world (they are being every bit as big of asshats as the europeans right now), and we recess, sell off, and the S&P logs its third “official” cyclical bear market inside this secular bear thats likely to last longer than anybody is planning. It began in 2000, gun to my head it ends in 2018-2020, not 2014-2015…
But its all about government action at this point, all. If the US up and runs a $4T targeted (kudos to Cronkite for repeatedly harping on the need for targeted stimulus) infrastructure/construction industry stimulus, that could end the worlds secular bear right there.
If Europe even succeeds in kicking hte can, that could spark a meaningful cyclical rally, etc.
Its all about gov’t action. If Rcik Perry wisn, is as dumb as he seems, beleives that Texas has a good economy not because of oil and government sector job growth, but because of austerity, decides that we need to balance the budget, god help us, we have a depression.
This WILL end with massive US government deficits (which will not, ever, cause a spike in bond yields, BTW, it makes no more difference to usif China wants to buy our bonds thanit does if Checklist wants to buy our bonds). I would guess that the more “debt” (its not really debt) that the US Gov’t issues, the lower its bond yields will go. But thats a separate story. If your first reaction to that statement was to laugh and assume it was insane, while referring to your “austrian school” handbook… you just need to realize that US gov’t finance is NOTHIGN like any private or corporate party finance AT ALL (or like any euro-using countries finances, btw).
Buy intelligent government action, that remains my thesis. If I had to make a prediction, S&P 995 would be it.
But, and this remains the total catch: gov’t action could alter that outcome at any time, and massively alter it.
The worlds situation remains ignorance -vs- prosperity, ignorance is winning. In the case of /US politics, ignorance is probably ont quite the case. I think the Repubs know fully well that their actions are meant to tank the economy, and that is what they want. I just wonder how they plan on fixing it, without massive deficits (because they WILL NOT be able to fix it, without massive deficits).
Maybe they plan an off balance sheet spending spree?
Secular bears can last longer than you think. Japan’s started 20 years ago and is not anywhere near done.
i’d go with 18-20 years for this one… we aren’t japan.
Wow its already happening. The obama cultists are already telling us the market (and all our terrible problems) will be fixed if we just pass obama’s legislation. Perhaps this mayhem is being used to promote an agenda and scare us into accepting it? Maybe, just maybe? I will buy the dip just a question of when to do so!
obama cultist? i have never voted for a liberal in my life, and I cried in my beer when he won.
what i would love all the uber conservatives, who would opposte anything that a dem suggested simply for political reasons to explain is this:
how will a deficit be balanced with plunging tax revenues from another recession?
how iwll jobs be created with reduced aggregate demand?
why, if, in 1845, when gold was discovered somewhere, did the world not end due to increased money supply?
what on earth sense does forcing a recession make? and spare me that “take our medicine” babble, sure, a massive depression will result in great GDP growth once its over…
…
from lower levels than we are at. doesn’t help anybody, murders debtors, which, by the way, include all of my and your neighbors and probably most people reading this blog…
More spending is the answer? Even if there are not enough tax receipts to cover it?
revenue increases (not tax increases) I’m all for maximum tax revenues, but raising taxes is not the way to do it. “Balanced approach” there’s a great term… Kinda sounds like “balanced budget.” Of course, it’s anything but a balanced budget. Just spend our grandkids money– yeah, that’s the ticket.
For once the Euros are more conservative than we are. Austerity and cover their nut. Work your way out of it instead of floating more Treasuries and having the Fed print up money to buy them.
first, the government has no need for taxes to spend.
second, what is the cost of a targeted infrastructure/construction stimulus? I don’t know, i’m asking, but it won’t be anywhere near the headline number.
Say we rebuild every bridge, school, etc., ever shovel ready project that civil engineers are already clamoring for. We take a couple million people OFF OF unemployment, GAIN tax revenue from them, gain tax revenue from companies, … what does it actually cost?
Did austerity end deficits in greece? Or did the drop in economic activity cuase the whoel plan to backfire? riddle me that, my fine fellow
In the end, this will end with massive deficits and monetization of european debt. Why? The realities of modern moentary systems. Which nobody understands.
The question isn’t how it ends, its how much suffering we endure before that end.
Then What?
The world needs to take its medicine now.
think of it as finding a big slug of gold somewhere in kansas.
run the stimulus, then nothing. we will never face a day when bond yields soar and all of that, in fact the more bonds we issue the lower their yields are likely to go…
no? nonsense? japan? common understanding of US gov’t finances fails at one basic place: its finances are NOTHING like household finances, which is how everybody thinks of finances.
Test
Buy when there is blood in the streets. Picked up CDN TCK and SU today. Both down over 50% from highs.
Fly, you are the man.
Anytime you are in Vancouver, hit me up for some fine dining tips.
I don’t think we’re anywhere close to “blood in the streets” time yet. It’s coming, but it’s not here now.
http://www.youtube.com/watch?feature=player_embedded&v=htX2usfqMEs
Party Over Here!!! Clam Bake Tonight.. as me and the US Dollar continue to slap the clam over his head with his Spine. I still can’t believe he even gave a little twist. FWIW Flash PMI out of China says we are so much in trouble. Took forever. Stupid AAPL.
Don’t forget to take profits TN.
I knew you would do it…trade your own game
Yogi and Testicules…thanks guys, I will start to skim off. But, I am also going to learn how to ride the other side of a bubble. Copper 4000 here we come.
Teck and Suncor, prepare to be parted with your money and de-balled. Did I mention, bye bye BAC.
Asshole dip buyers to the white courtesy phone please
Heng Seng ripped to shreds
baboom
We are fucked. Flattened yield curve will wipe out the ability for banks to make money.
I CAN’T BELIEVE BERNANKE COULD BE THIS RECKLESS AND STUPID.
I am horrified and depressed that the Fed could be this idiotic.
Been short for months now but as an American I am saddened by this.
We are near the endgame peeps. Prepare accordingly.
honestly, a flattened yield curve isn’t good… it doesn’t promote lending at all.
The curve isn’t exactly flat.
yes, but flattening it isn’t a recipe for spurring bank lending.
the flipside is that mass refi’s do represent a long term stimulus to the economy that would be meaningful, but..
the barrier to refi hasn’t been interest rates that aren’t low enough, its been underwater mortgages and banks unwilling/unable to refi those borrowers due to them not having/being able to get to a LTV of 80% or whatever the standard is.
those that could have refi’d have probably largely refi’d. maybe the same people refi again, but ultimately simply lowering interest rates can’t help a large number of people with mortgages.
Well, the reason why he did this was to force them to lend. The banks can easily make money, if they bothered taking on some fucking risk and started acting like banks again.
It’s go time and the US and the Fed can no longer wait for the banks to “feel” like lending. Lend now or die.
in the case of large amounts of mortgages, they can’t allow refi’s due to regulators now deciding that some equity is necessary for a loan.
and mortgage insurers similarly aren’t rushing to insure mortgages that have no equity.
the irony being that both the lender and the insurer are better off with the borrowers having lower payments…
thats the crux.
And the CEO of BAC gets a hardy “well done” from the BOD…
And a $45,000,000 bonus for fucking up.
Le Fly, would it be unreasonable to suggest that you, at this moment, have your balls splayed out on the counter, on a cutting board, while you are speed-chopping carrots?
You are quite long. And that looks quite bad.
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… alf44 pushes the saloon tables and chairs back … in anticipation of a “Bar Brawl” !!!
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Perhaps a vicious one.
… “there will be blood” !!!
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Fly, make your tabular output look better.
Try this site for generator table data:
http://tableizer.journalistopia.com/
Just take the data, copy, and paste. Hit the button and voila!
Makes stuff easier to read.
The majority of investors wake up everyday trying to guess how to front run opinions (not facts) spewed from CNBC or internet. Too many people on one side of the boat. There was a time when breaking news was significant. Thus, selling begets selling. It will get to the point were HV trading etc will become a professional value investors best friend. The world lacks patience.
G20 meetings and Unemployment claims to boot.
Logic would dictate claims will be higher (need for job creation bill)
G20….reaffirm commitment to Europe…possible leaks of Bank support…?…that ought to swing us wildly
Fly
How do you loan money when you are insolvent?
The Fed can’t force them to do shit.
If I was a banking CEO with an insolvent balance sheet I wouldn’t loan dick because I would be scared to death.
The banks are dead. Zombie’s institutions Japan style.
Property values will only get worse. It’s a viscous spiral.
We’re toast. Wish I saw a way out.
The way out is maybe the next generation wont fuck up as much as this one did. Greed. Greed is good. But too much greed isnt
i just turned the charts upside down, it makes things look better. ahhhhhhh, french banks in trouble now?