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Awesome. It'll be yet another opportunity to get short financials after they go up 30%-50% in the hours following the announcement.

Stan O'Neal and Chuck Prince must be on a golf course somewhere laughing their heads off.

10 year put swaptions struck at 300 basis points over the current 10 year swap rate are selling for 1.5 cents for dollar. Minimum trade is probably $150K (for a $10 million face value swaption). This is mostly available only to institutions, but there are desks that will do it for individuals...

This bust isn't just about subprime. Its the bursting of a super-mega-credit bubble dating back to at least 3 decades and probably longer. This collapse is in the process of destroying every single icon and business associated with that bubble. The two largest shibboleths associated with...

Pontificating is easy. Making money in the markets is hard.

LOL. I'm pretty sure Klarman didn't own any tech throughout the 90s, and was mostly on the sidelines during the commodity and financials bubble during this decade. He still managed to outperform nearly everybody. Now w/all the cash he didn't waste chasing the Agriums, Countrywides, and...

FWIW, the modern day Ben Graham, Seth Klarman, has done well through this whole bust. I think his avg return over the past 20 years remains over 20% annually. He's sitting on a mountain of cash and has been busily putting it to work.

Ben Grahm's portfoiio lost 70% from 29-32.

Within the next 12-18 months, the bankruptcy laws will be re-written, once again making it easier to zero out credit card debt by filing chapter 7. CC lending as we know it, will end. Its highly likely that the credit bureau scoring system will no longer exist in its present form as well. I...

What did Faber have to say?

Will almost certainly end today in the black.

For many years, GE's earnings were whatever the F Jack Welch or Jeff Immelt wanted them to be (usually a penny above). Nothing but a Ponzi scheme. GE is going to the low single digits where it belongs.

Congrats on a nice call Daal. I've been riding this turkey down for awhile as well. What are your thoughts going forward? Is COF headed the way of Wachovia and WM? I know Soros liked to add to his shorts as they went down in order to keep the same amount of exposure.

Geithner's tax cheating is the least of my worries. Jim Bunning was heroic in yesterday's hearings. Sadly, I don't think anybody was paying attention. ... "In addition to questions about Geithner's tax missteps, Bunning and other Republican senators grilled the nominee about his...

No fan of JC, but he's from Springfield, which was and is a middle class (I'm being charitable, it leans to lower middle class) suburb of 1950s housing, crappy strip malls, and lots of traffic.

China is imploding.

Thanks. Oanda does offer it. However, the bid/ask spread is ridiculous. I know I said I don't need the tightest spreads, but I don't want to get raped either. Any other suggestions?

Fade the rally when this nonsense gets announced.

Everyone needs to stand back and get away from the conventional wisdom on bonds and the dollar. If Chinese growth is collapsing, then yes, it is likely that China will no longer add to their hoard of dollars, and may even become a seller in order to raise cash for their own economic stimulus...

I'm with IB, but they don't offer anything on idealpro with the forint. I'm looking for a reputable place. Minimum size isn't a concern and tightest spreads aren't a concern because I position trade - once I make a trade, I'm likely to hold it for weeks or months at a time.