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As I understand the mid-curve options, they allow trade in later years, but the options themselves expire within the next year. They seem more about trading the middle part of the Treasury curve (hence, their name). Something like a Dec 18 99 call likely isn't even quoted given the underlying...

Returning to this fading journal (and the markets in general after a lovely summer), inspired by a Bill Gross tweet in which he noted Eurodollar futures are pricing in 4% Fed Funds rate by the end of 2018. If - as some believe - the U.S. is truly Japan and cannot handle even marginally higher...

http://seekingalpha.com/article/1463241-a-discounted-cash-flow-analysis-of-wal-mart-stores-inc Hmm, someone hated WMT in the $40s, now loves it near $80. Crackerjack stuff. :p

I continue to watch Apple fall - losing money yes, but far more bemused than upset, still remembering what an ass this GoC guy made of himself a year ago when I suggested WMT was the better investment...

Never mind. Both stocks crashed about 5 minutes after I put that post up.:D

Wow. Just got turned onto this thread. It's one of the saddest things I've ever been exposed to. In any case, I'm shocked to see no discussion of shorting Fannie and Freddie common after they've quadrupled this week. It's almost certain the common stock of these two has no value. Best of...

All-time high for Z today, and a double since that moronic hit piece from Citron a few months back. Congrats to the entrepreneurs at Z focused on building a disruptive and dominating business while geeks in front of screens worry about PE ratios. Edited to say: Sold my WMT and GOOG today. I...

JCP now loses its driver's license as Ackman's partner Steve Roth pukes up half of his stake. Now THIS is what a bottom starts to look like. Not buying, but getting interested. Stock's an immediate double if Johnson gets fired and they bring in a retailing BSD. Stock price may have to go to...

So. JCP enters the high school years again. Are you holding, buying, selling? I'm assuming you made money on this 20% tumble using an options strategy that assures profits no matter what happens?:D How about something actionable?

Great earnings call from EFC yesterday. Major differences between these guys and a mortgage REIT: EFC is a partnership, and actively seeks to make trading gains. Mortgage REITs (mostly) are buy and hold investors and subject to forces out of their control. EFC can control (for the better...

BTW, while I recommend chasing NCT, do not chase EFC. I would expect a big secondary sometime in the next couple months. You'll get a chance to buy lower. I'm praying for this myself as I definitely want to add to my position.

EFC ups dividend 10% and declares special dividend for 2012. These guys are absolute master mortgage traders. Upping dividend while every other mREIT is slashing >>> killing it.

Snooze you lose. NCT already trading 3% above offering price. My advice is to chase! :D

NCT doing a big secondary. Take advantage of dip to get long. You're welcome in advance.

Efficient markets fail. Pretty much in a straight line, Markel has gained back nearly all it lost following the announcement of the Alterra purchase, which even an idiot could see was going to be a positive for the company. The shares were stupid cheap when I recommended to buy at X-mas...

I thought I was on ignore. Are you gonna come running to the board every time NFLX goes up? Tilson no longer runs his fund - shoved out due to bad performance. Whatever he made in NFLX he lost in GMCR and HLF. Tilson Focus Fund is up 2% YTD, -19% Y/Y. Outstanding. It gets a 1-star rating...

Back from Davos ... just kidding, only Scottsdale - not as crowded with big names, but considerably warmer - to find an old argument with Martin settled. A EU court rules in Iceland's favor on its deposit guarantees. This is a sweeping, landmark ruling I encourage all to study. It cannot - as...

I note Apple has returned almost to near my cost basis. Of course not a fan of losing money, I watch this remarkable move with a bit of amused detachment. I can't help remembering Cutten going postal on me last spring for having the temerity to suggest I was prouder of my Wal-Mart buy than...

Selling all of my GM this morning. If anybody had told me I'd make a lot of money in GM ... Just goes to show there are no bad companies, just bad prices. At the right price, even the biggest dog can be wildly profitable.

I'd fade this 20% pop in NOK. Pick your poison - short the stock, buy $4 puts ...