More economic lulz...plz

[lafayette]

Lots of shenanigens going down this sunday.
http://www.cnbc.com/id/26709718


Lehman Brothers going under

http://www.bloomberg.com/apps/news?pid=20601087&sid=axH8rBjWeJNc&refer=home


BofA buying (bailing out with borrowed FED money) Merrill Lynch

http://www.bloomberg.com/apps/news?pid=20601087&sid=az3zSTZCZKG8&refer=home

AIG is begging for money.
http://www.cnbc.com/id/26707042





Dollar down -2.30% Friday and 2 hours into mondays trading day. :lmao:

[Sofaism]

AIG on chopping block tomorrow, shorts fucked in MER tomorrow, LEH to .25...

THERE WILL BE BLOOD.

[Lindorn]

It really beaks my heart to see banks go out of business.

[Slypieguy]

im buying puts on LM

[GFH_Spike]

Perhaps these various financial institutions will learn from their mistakes that contributed to this downfall. I personally doubt it.

[paade]

its a good thing i bought a house just before worldwide depression:bang:

[Ghostpaw]

It really beaks my heart to see banks go out of business.

Why is that?

[lafayette]

Perhaps these various financial institutions will learn from their mistakes that contributed to this downfall. I personally doubt it.

Not a chance in hell, not with the governemtn their to "save" them.

Why is that?

Sarcasm ?





More dollar news.....

Lulz from China
http://www.chinadaily.com.cn/china/2008-09/12/content_7020656.htm

even more from Russia...
http://www.tickerforum.org/cgi-ticker/akcs-www?post=59490

[Lethn]

I hope the situation gets worse so that people will start be thinking in common sense again instead of listening to idiot politicians.

[Vanno]

Part of me is vindictively saying 'I told you so,' while the other part graduated last year (BS in Economics with a focus in banking and finance,) and is facing a horrible job market in my sector.

[Ammon777]

Part of me is vindictively saying 'I told you so,' while the other part graduated last year (BS in Economics with a focus in banking and finance,) and is facing a horrible job market in my sector.

Wow, you really fucked yourself on that one.

[Vanno]

Wow, you really fucked yourself on that one.

As far as timing goes, I pretty much fudged the bucket. It was about the Fall of my Junior year that I realized the shell game was going to be over soon, but it was a bit late to change majors then.

[Shane]

Part of me is vindictively saying 'I told you so,' while the other part graduated last year (BS in Economics with a focus in banking and finance,) and is facing a horrible job market in my sector.

You need some accreditations with that.

Oh wait, you're not an accountant? You're fucked.

[Slypieguy]

Part of me is vindictively saying 'I told you so,' while the other part graduated last year (BS in Economics with a focus in banking and finance,) and is facing a horrible job market in my sector.

You could always move to Japan. They have mad job openings in the financial sector atm

[lafayette]

I hope the situation gets worse so that people will start be thinking in common sense again instead of listening to idiot politicians.

I feel the same way, but i dont have that much faith in the America people to make the right choice. Most of them are to fucking clueless, though its not all their fault.

New, New Deal here we come!


Eh, but what do i know, i'll just put on my tin foil hat and go back to sleep.

[Vanno]

You need some accreditations with that.

Oh wait, you're not an accountant? You're fucked.

Well, I am going to be going into actuary science. With the legislation and caution that this debacle will inspire, underwriting, risk assessment, etc will be back in a big way. It is true that being an accountant would have been money for me, and that is still definitely an option.

[Vanno]

You could always move to Japan. They have mad job openings in the financial sector atm

Well, I do like Sushi. Plus, Japan uses some interesting complementary currency schemes, which interests me.

[Septus]

im buying puts on LM

why not just short it on margin?

[Septus]

BofA buying (bailing out with borrowed FED money) Merrill Lynch

http://www.bloomberg.com/apps/news?pid=20601087&sid=az3zSTZCZKG8&refer=home


Eh. I thought they were paying in shares? What borrowed fed money are you talking about?

As for the economic lulz - quick poll: who were the retards here who were advocating buying fannie mae and/or freddie mac? I distinctly remember a bunch of retards talking about putting big money on them. Don't be shy, admit your guilt.

[Slypieguy]

why not just short it on margin?

because puts will make me more money?

And I'm just not a fan of shorting in general

[Vanno]

why not just short it on margin?

Makes a lot more sense to me. Puts are usually done if you expect a gradual downward pressure, not a violent spiral.



As for the economic lulz - quick poll: who were the retards here who were advocating buying fannie mae and/or freddie mac? I distinctly remember a bunch of retards talking about putting big money on them. Don't be shy, admit your guilt.

I recall a couple people talking about buying it and then selling for short term returns. if someone was long either, they were indeed morons.

[Slypieguy]

As for the economic lulz - quick poll: who were the retards here who were advocating buying fannie mae and/or freddie mac? I distinctly remember a bunch of retards talking about putting big money on them. Don't be shy, admit your guilt.

Lol, in summer/fall of last year I read a good article in Forbes about why Fannie was gonna tank and the last line of the article was something to the effect of "short this sucker." And I remember thinking, man they made a really good case here, maybe I should follow that advice. Seems the best advice is always the ones you fail to take action on :(

[Slypieguy]

Makes a lot more sense to me. Puts are usually done if you expect a gradual downward pressure, not a violent spiral.


Depends on how far into the future you're buying them. I think some October puts on LM just out of the money will be in the money easily before expiration, it's just a matter of by how much. I don't have enough cash on hand to comfortably short a large amount of the stock, but I can slap what I got into some puts for a decent payday

[Vanno]

Depends on how far into the future you're buying them. I think some October puts on LM just out of the money will be in the money easily before expiration, it's just a matter of by how much. I don't have enough cash on hand to comfortably short a large amount of the stock, but I can slap what I got into some puts for a decent payday

Well, puts are the safer investment, in that you can only lose your premium.

[Slypieguy]

Well, puts are the more safe investment, in that you can only lose your premium.

Yea, but more volatile at the same time, can get big losses or gains in a single day much easier than a stock

[Septus]

because puts will make me more money?

And I'm just not a fan of shorting in general

Puts are definitely the safer play, but they do *not* make you more money. In fact, you pay a premium to buy them - which is the opposite of making more money :)

Depends on how far into the future you're buying them. I think some October puts on LM just out of the money will be in the money easily before expiration, it's just a matter of by how much. I don't have enough cash on hand to comfortably short a large amount of the stock, but I can slap what I got into some puts for a decent payday

Yeah, exactly. The short is a riskier play, so unless you have enough money to take on that kind of risk, puts are the safe way to go.

You generally pay a small premium in order to limit your losses (unless everyone and their mother thinks the stock is going down, in which case you pay a large premium).

[Slypieguy]

Puts are definitely the safer play, but they do *not* make you more money. In fact, you pay a premium to buy them - which is the opposite of making more money :)

How do you figure? To take LM as an example, on Friday if you had owned the first out of the money puts you would have made 34%, if you were shorting the stock you would be up about 3%...

[Septus]

How do you figure? To take LM as an example, on Friday if you had owned the first out of the money puts you would have made 34%, if you were shorting the stock you would be up about 3%...

I don't want to log into Schwab right now, could you just give me the dates/targets/premiums for the puts you got?

[Attau]

Well, I am going to be going into actuary science. With the legislation and caution that this debacle will inspire, underwriting, risk assessment, etc will be back in a big way. It is true that being an accountant would have been money for me, and that is still definitely an option.

Taking my first actuarial exam in spring :ninja:

[lafayette]

Eh. I thought they were paying in shares? What borrowed fed money are you talking about?


My bad, i read the FED was now taking equities as collateral, figured thats how BofA was going to buy ML.

Im hoping the FED will start taking old wolverine comicbooks , i could really use a loan.