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I believe we're going higher, and maybe even experience a melt-up into the new year. However, Bubblevision (CNBC) reported this afternoon that short interest on the NYSE had dropped this week by the largest amount in over a decade. This makes me wonder if this rally is being fueled by short...

Even though the group is trading below book value, they traded to 0.5x book in 1900/91. At those levels, the stocks have another ~30% or so to fall. Besides, there is tremendous inventory. That's certainly not a good long-term environment. Eventually, you're going to get a good...

I do when I'm investing. If you've done your homework, and you have the company down cold, then averaging down is a good strategy. That's different from trading, though. I own C, and will buy more the cheaper it gets. C got down to somewhere around 1.5x book, if not cheaper, five...

The other thing is that taxes are soaring. The way taxes work in Florida is that they cannot go up by more than a set rate each year - I think its 3-4% - even if the property rises much more. However, the tax rate reverts to the market price when a property is sold. So, because property...

Florida is in a recession. The state budget is going to come in $2 billion less than expected. The reason is primarily because the real estate market has come to a grinding halt. It does not matter what the comparative prices are in other places. Comparing FL real estate with NYC real...

I think a once in a generation opportunity is coming to buy the banks, but we're not there quite yet.

If you do it for 10 years, then yes.

My question is this: if the Amero was imminent, why aren't Goldman and Morgan and Soly et al talking about this? I mean, you'd think that the cessation of the lynchpin of the $2 trillion a day currency market might be of interest to those trading it. Yet it seems only to be the purview of a...

Black 8:00-8:15pm?

I've always figured that if there is any business Wall Street analysts should know, its Wall Street.

I wouldn't be surprised if we were down hard tomorrow. Instill a bit of panic and give 'em something to think about over the 3 day weekend. lol

qft

someone told me there has been a lot of insider buying at AEOS. Don't know if its true or not.

markets can keep going down if they are fairly valued, just like they kept going up c1999 when they were egregiously overvalued.

I apologize for pimping my blog, but I laid out the short case for REITs here and here. Historically, the dividend yield for REITs has averaged somewhere around +1.75% above the 10 Year Tbond. If you apply that metric on the IYR, it trades at $47. Today it is at $73. Cap rates are...

There are 23,000 condos for sale in South Florida. Another 24,000 new condos are coming into the market by 2011. Lots of time to buy.

Last time I checked, there were 70-75 banks in the Russell 3000 trading at 1.25x tangible book value or less. At some point, I'm going to back up the truck. I'm not sure about the timing though.

Here's a good article if there are any trial lawyers in this crowd http://www.nytimes.com/2007/08/26/business/yourmoney/26country.html?_r=1&oref=slogin

Mozilo has cashed out $129 million in options this year, which is about half of what he had cashed out the previous 22 years. That's all I need to know.

I wouldn't touch it with a 10 foot pole. They have a number of projects that simply aren't going to get finished in Florida - some massive - and the buyers are trying to get out of deals en mass. Icahn made a mistake on this one. I'd heard from one analyst that he "wasn't considered to be...