Friday, September 19, 2008


My previous post left me feeling queasy so here is something lighter.
  • From my new favorite market humorist - market technician Alex Spiriglou:
"I heard that a lot of the Lehman guys who got bonuses from the last several years
invested them back into Lehman stocks, and then borrowed against it - probably to buy real estate."
  • From the "they are out to screw the little guy" department:
I tried to enter a trade to buy 100 shares of an ETF this morning with Fidelity. Trade entered at 9:34. Trade executed at 9:49 - and for 2 full points more.

Mind you this was a market order for one round lot of a very active ETF. It wasn't an order so big it had to be worked and it wasn't an odd amount. A market order for something that trades several million shares per day. I am seriously considering moving from Fidelity as it was not the first time.
  • From the "wah?" department:
Kraft Foods to replace AIG in the Dow Jones Industrial Average. At least they did not replace an actual industrial stock this time.
  • From a talking head on CNBC:
"Well, at least the USA now has a sovereign fund" - referring to the fact that the US government now owns tons of mortgage backs assets, guarantees money market funds and owns a giant insurance company.

Let's get this straight - EVERY politician and businessman and investor says that people are better at managing their own money than the government is yet all of the sudden the government is running the world's biggest hedge fund. Would you invest with them?

No comments: