Hey, let’s raise rates (remember that?). I believe it was the Fast Money gang (Guy Adami) who was suggesting we might enjoy a massive 3rd quarter rally, spearheaded by CDO markups. Buy the banks, no?
Where are the Warren Buffett rumors? Every time the market dumps out, they pull Buffett out of a potato sack and spread scurrilous rumors about his pending “white knight” investment. It never pans out. Buffett is old and cranky. He hates bailing people out, let alone buy himself a decent suit.
Shall we ignore AIG‘s trillion dollar meltdown?
I swear, men with charts should be sent to military work camps. As soon as the vix hit 30, buyers started stepping in. If you really think about it, men with charts are pretty much the dumbest people on the face of the earth, right below spastic retards, who buy Wells Fargo & Company [[WFC]] and U.S. Bancorp [[USB]] , in florescent orange jumpsuits.
The Fed will not cut rates tomorrow. However, in the event that they do, my oil stocks will surge. Either way, I win, at least half way.
At the present, I find it acceptable to lose money in my oils, providing my bank shorts eat pavement.
The next boot to drop has to be in commerical real estate. I have contacts in the field and almost all of them think they are immune. They have a certain smugness about their business and it irritates “The Fly.” These people are mentally impaired—I’ll have you know. On this display of hubris, I want to sell short Vornado Realty Trust [[VNO]] , Boston Properties, Inc. [[BXP]] , Simon Property Group, Inc [[SPG]] and SL Green Realty Corp. [[SLG]] or just get lazy and go long [[SRS]] .
Finally, I think it’s important to note the bag holders of American International Group, Inc. [[AIG]] equity. Here are a few publicly traded companies, who have massive AIG common stock on their books:
AXA (ADR) [[AXA]] : 161 million shares
State Street Corporation [[STT]] : 96 million shares
Barclays PLC (ADR) [[BCS]] : 94 million shares
The Bank of New York Mellon Corporation [[BK]] : 31 million shares
Legg Mason, Inc. [[LM]] : 29 million shares
Northern Trust Corporation [[NTRS]] : 29 million shares
T. Rowe Price Group, Inc. [[TROW]] : 23 million shares
Janus Capital Group Inc. [[JNS]] : 19 million shares
Goldman Sachs Group, Inc. [[GS]] : 17 million shares
Morgan Stanley [[MS]] : 16 million shares
Bank of America Corporation [[BAC]] : 16 million shares.
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