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Waddell & Reed runs a very successful mutual fund called (UNASX). It's done a great job over the years of protecting on the downside, while still participating on the upside. Clearly a more actively managed fund that maintains the ability to hedge its market exposure from time to time. The...

How did they gain? Probably not the answer you're looking for, but one possibility: They knew the SEC news was coming out today, so they went balls out short and capitalized on the pullback, covering at the close. Enough profit to cover any fines and then some, even if they do happen to have...

Not yet... sure to come though. I did hear something about forgiving college loans though - just add it to the deficit and let the taxpayers cover it!

These are class C shares, so there's a 1% fee tacked onto these funds which goes straight into the "advisors" pocket. If you plan on holding long term, you could buy the same funds in a self-directed brokerage account for 1% less, per year.

Yes, he did. I remember this as well. I guess he changed his mind.

What are you talking about? Goldman lost money on one day last quarter. If they were really "connected" wouldn't they have been profitable every day?

No worries... he knows too many people at "Goldman" so he's innocent. Nothing to see here, carry on.

more likely an "announcement" by a few major banks rather than the fed. while it's surely an out of the money play, it's not a lotto ticket by any means.

This is an extremely important indicator. Take a look at the unemployment rate through every major US bear market and you'll see that it peaks almost exactly when the market bottoms. 1932, 1982 and late 2002 are no exceptions. 2009 is!

Ah yes, the old 'double reverse back' method. This way when the actual number comes in at -225, CNBC can spit it as a positive based on Goldman's -250 projection. Brilliant! Although, it won't work this time.

Or just buy some puts... it's cheaper and achieves the same thing:)

because it's perceived to be a government owned company that the gumbit will not let fail. Plus, AIG proposed that the gov't reduce the interest rate on the money they "borrowed" and lengthen the term of the loan. They'll prob. get it too.

Say what??! Put/Call Ratio is 0.45.... that's twice as many calls as puts. Market is as extended as it's been in 25 years based on # of stocks trading at least 2 standard deviations above their 200-day moving average. While the market may head higher, shorter term it's screaming overbought.

I suppose when nobody is left to buy them this thing will go parabolic... oh wait, it already has! http://research.stlouisfed.org/fred2/series/BASE

Just setting the stage so that when they announce they only need 29 billion it's deemed as good news and the market rallies big.

Oakland County (which borders the "D") is the 4th wealthiest county in the United States. More golf courses in Michigan than any other state (you ever watch the U.S. Open? Oakland Hills is just outside of Detroit). Not to mention lakes everywhere. It's definitely no Chicago... but it's not as...

What if his wife left him and he has a two year old son that he has to take care of. Unlikely, but you never know.

There was a thread a few weeks back that included a video of Schiff trying to justify a 40% drawdown in his managed account program. You can find via the search option. Point being, he's made some great calls but his managed accounts are struggling.

He sold them at Indu 13,000... so VIX was prob. around 20.

Wow... and I actually used to respect the guy before listening to this nonesense. So he loses 35% for this investor in 6 months and says that since he's continuing to collect a dividend all is peachy!! He then goes on to say that in a few years his $1.5 million investment could be worth $5...