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Reading through some of the headlines, one says that he made $10-mil from a $10 stake. Back then $10-mil was a shitload of money. (Like turning a $1k stake into $1-bil today.) He must have been seriously ill to have not taken most of that out of the market permanently and semi-retired at some...

He is not 'long the dollar' in the sense those on ET tend to think. He just did a long interview with Bloomberg and what he said was he 'owns more dollars now than I did before.' He explained it was meant to be a 'trade' but that it was probably ill advised because he is the 'worst trader in...

There is a well known scam running on Craigslist 'For Let' boards now. The scam artist will post a flat/home for rent at an extremely attractive price, and then collects as many security deposits from as many people as possible. Lots of permutations, but you get the drift. You cannot assume...

Yeah, and of course everyone knew real estate never goes down, so of course the insurance was cheap. Writing those policies was like printing money for AYG ...

Another incredible close ... wow.

:eek:

You appear to suggest that you think the S&P will fall into the 80s most likely 12-24 months out. It that case I would want to work a position that incorporates the expectation re: timing. (Very critical when it comes to options.) In this instance, during early days I might judiciously sell...

Holders of the futures contract will not collect dividends paid out by some of the underlying stocks between now and March. Stock/index holders will. As those dividends are paid, the index will converge to the futures price. This is Index Futures 101. Look it up.

Books: Daniel Yergin's The Prize for a sweeping history of the oil industry Simmons' Twilight in the Desert to peek behind the curtain and grasp the current state of oil reserves. Tertzakian's A Thousand Barrels a Second to grasp how policy and lifestyles will adjust to life with...

All purposefully successful trading begins and ends with anticipation of a price move. Swing and intra-day are simply different time frames one might target. When I try to exploit a price move, I regularly use both intra-day and swing positions. OP speaks with the assumption that there is...

With regard to timing, note that in 1979-80 the blow-off top occurred late Jan and early Feb, when gold typically reaches its high for the year. All things equal, my bet is that we will see this next blow-off top in either late January or early October. Now what year it will come in ... requires...

Timing is tough. All I can say is, I expect $1,400 before we see $1,000 again. Once we get there we'll have another look. Something to consider is that the price of gold is a 'state of mind.' I'd recommend everyone go back and read Soros' on the reflexive nature of bubbles in preparation for...

I just read a note referencing Wednesday's Topix 100 (?) stating P/B was below 1.0, and half their average over the last 15 yrs. How cheap is too cheap? Unfortunately I think US is inexorably headed into the a liquidity trap ala Japan. What does that mean for the S&P? Not pretty ...

I see us climbing into the $2,000 - $3,000 range and then simply gapping up to $5,000 over 2-3 weeks as we saw in 1980. The time to sell is following the second or third runaway gap. Gold will go higher than anyone now expects, no doubt. Expectations will morph and snowball ala Soros'...

This is only the beginning people, because this economic downturn has only begun. A mindset shift began with implosion of the Nasdaq bubble, and progressed with the housing blow up. But we haven't hit bottom yet. The next downturn will be truly wicked because where will the stimulus come from...

Elitetrader ...

It helps if, when you call or e-mail, that you mention that you are a shareholder. You have to understand short-sellers and others unwelcome callers are doing the same thing you are, and IR might be trying to duck them. After all, their job is to service shareholders - they're not obligated to...

Happy to agree to disagree. Putting on a leg of puts sounds neat and tidy, but his portfolio will be a mess when it hits the fan. When Latvia and Hungary default, sending the S&P down 15% overnight, the risk involved during his exit is tremendous as he will be tempted to trade out of the...

When you've committed your entire portfolio to a long option position and the market turns against you, watching doesn't help.

I posted that with the assumption that the CC stocks would be bought unlevered. That is how I buy stocks and how I think about them, probably should have said so in my statement. If he uses 50% of his portfolio to buy (without leverage) well chosen stocks, he has eliminated the risk of a 100%...