iBankCoin
Home / Dr. Fly (page 65)

Dr. Fly

18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.

VAGRANTS: THIS IS OCCUPY WALL STREET #OWS

“I have the police in here 10 times a day, [and] I’m the bouncer. I’ve been called the spawn of the devil. “It’s unbelievable what goes on in here every day, ” Tzortzatos said.

And on Friday, she said, a crazed squatter burst into the shop and demanded that workers fill a 10-gallon container of water.

When they refused, “he banged it on the ground and started yelling” and threatened the staff, she said.

“He said he was entitled to have it for free.”

Tzortzatos said the unsafe conditions begin at around 5 p.m. every day, when “they come from the park drunk, under the influence of something.

“They use one of our doorways as a bathroom, and we have to scrub it down every morning.

“I’ve had people come in here and yell, ‘Boycott! Boycott!’

“They unplugged my ATM machine and plugged in their computers,” Tzortzatos said.

Comments »

Infospace Reports Accounting Irregularities

InfoSpace files to delay its 10-Q  (8.95 +0.32)
As reported by the Company in its Current Report on Form 8-K filed with the Commission on November 3, 2011, the Company has identified certain errors related to its accounting for goodwill in connection with its acquisition of the Make The Web Better assets.

Comments »

Jefferies Reduces European Sovereign Debt Exposure by 49%

Jefferies Reduces Gross Holdings of Sovereign Debt of Portugal, Italy, Ireland, Greece, and Spain by 49.5% in Today’s Trading in Europe 9:18 am ET 11/07/2011 – Business Wire NEW YORK & LONDON–(BUSINESS WIRE)–Nov. 7, 2011– Jefferies announced today that its trading positions in the sovereign securities of the nations of Portugal, Italy, Ireland, Greece, and Spain have been reduced by an aggregate of approximately $1.1 billion long and $1.1 billion short. This represents a 49.5% reduction in Jefferies’ gross holdings of these securities since the close of business Friday and resulted in no meaningful profit or loss on today’s trading activity or our remaining positions, which continue to be substantially matched by country and maturity. Jefferies’ current net exposure to these sovereign securities is currently $59 million, or 1.7% of shareholder equity, with negligible market or credit risk. “We undertook this reduction in our holdings solely to demonstrate the liquid nature of this market-making trading book,” said Richard Handler, Chairman and CEO, and Brian Friedman, Chairman of the Executive Committee of Jefferies, in a joint statement. “We will now resume our normal market-making activities and serve our clients around the world.

Comments »

This Mornings Early Large Cap Losers

No. Ticker % Change Market Cap
1 ALU -15.76 6,260,000,000
2 WIN -6.30 6,390,000,000
3 VRUS -5.74 5,890,000,000
4 AIG -5.72 46,750,000,000
5 FLR -5.38 10,190,000,000
6 LNKD -5.09 8,420,000,000
7 HCN -4.98 9,400,000,000
8 VE -3.69 7,260,000,000
9 MS -3.66 32,670,000,000
10 AEG -3.35 8,990,000,000
11 VIA-B -3.32 23,770,000,000
12 DB -3.14 36,900,000,000
13 KMX -2.80 6,960,000,000
14 CS -2.80 32,570,000,000
15 PUK -2.75 25,860,000,000
16 TRMB -2.69 5,340,000,000
17 BAC -2.68 70,030,000,000
18 CPL -2.68 12,400,000,000
19 PHG -2.58 20,070,000,000
20 ING -2.56 32,580,000,000
21 YNDX -2.55 9,240,000,000
22 WF -2.50 7,280,000,000
23 CHA -2.47 50,690,000,000
24 BBVA -2.40 41,380,000,000
25 HCP -2.33 16,080,000,000
26 PLD -2.32 13,410,000,000
27 FTR -2.27 5,700,000,000
28 AMP -2.26 10,640,000,000
29 SI -2.25 92,100,000,000
30 UBS -2.22 47,100,000,000
31 ERIC -2.21 34,770,000,000
32 CBD -2.21 10,060,000,000
33 NOK -2.19 25,410,000,000
34 JEC -2.18 5,200,000,000
35 STT -2.18 19,910,000,000
36 KEY -2.17 7,010,000,000
37 LNC -2.10 6,020,000,000
38 NEE -2.10 24,330,000,000
39 RYAAY -2.00 8,780,000,000
40 LUK -2.00 6,340,000,000
41 STD -1.96 51,130,000,000
42 IVZ -1.96 9,220,000,000
43 SCHW -1.94 15,600,000,000
44 TKC -1.93 11,830,000,000
45 SLE -1.93 11,010,000,000
46 CAJ -1.92 54,830,000,000
47 GGP -1.90 13,930,000,000
48 NTRS -1.85 9,780,000,000
49 APOL -1.84 6,180,000,000
50 MET -1.83 36,960,000,000

Comments »

Shares of Jefferies Are Volatile Today

Broker dealer and underwriter for MF Global, JEF, were down as much as 20% today and halted for trade twice, before recovering–now down just 7%. Lots of rumors abound.

Comments »

GLD versus GDX

Not even close.

GLD
9-month Return 29.58
1-month Return 6.95
1-week Return 0.98
1-year Return 27.59
6-month Return 12.39
3-month Return 4.66
3-year Return 136.95
2-week Return 5.74
2-year Return 62.62

GDX
9-month Return 8.85
1-month Return 8.53
1-week Return 3.33
1-year Return 4.57
6-month Return -0.37
3-month Return 2.48
3-year Return 188.54
2-week Return 11.86
2-year Return 40.97
YTD Return -2.55

YTD Return 21.86

Comments »