Buy Northern Rock

[ASusilovic]

Quote from forestfire:

A question for ASusilovic;
What would make would you reconsider your longs?
If you're right then great, but otherwise at what price will you throw in the towel?

If you´re a market maker from London => I won´t tell you. If you´re not => Private Message !

 

[dhpar]

Quote from zer0:

For years I was reading www.prudentbear.com to nourish my bear analysis. The contributors spoke of subprime, SIV, CDO, ABS, carry trade, overleveraged speculation in the credit markets, long before these subjects were even mentioned in the economic media.

They were right ! All these hot air credit bubble schemes are slowly collapsing in front of us. It's really like watching a train wreck in slow motion.

do you mean they missed on the last few years rally? I am happy to be ultimately wrong - and that is not yet clear anyway.

 

[just21]

They are queing to get there money out at Northern Rock.

 

[dhpar]

Quote from just21:

They are queing to get there money out at Northern Rock.

pensioners know the best. gl

 

[zer0]

Quote from makloda:

Being right like a broken clock doesn't pay my bills. Question is: Did they make any money? Probably not.

I was waiting for that argument
When I say he was right I mean he was right on the causes, SPOT ON the credit market problems months or years before it started unwinding.
I am a small retail trader and i don't want to enter into the typical discussions between the heavily positionned long/short people. What interested me in this site is to have a reasonable contrarian view of the actual state of the economy. Can we make money with his statements ? For short term trading NO, but to make healthy long term decisions i think it can help. For example, this reading gave me a clear view of the housing bubble and prevented me to enter this market despite the surrounding buzz. It certainly saved me money.

 

[Mvic]

AS, note the downgrades by SGS today.

 

[makloda]

Quote from zer0:
I was waiting for that argument
When I say he was right I mean he was right on the causes, SPOT ON the credit market problems months or years before it started unwinding.

I am not a bull and not a bear. I'm interested in making money, I don't what way the markets heads as long as I am on the right side. I've been reading about housing market problems and the "coming crash" for 3 years now.

Again, do the guys that have been predicting housing problems MADE ANY MONEY? Do they trade at all? Or are they primarily journalists collecting their bi-weekly paycheck? All I hear form the tinfoil bears is how they're long Gold since 1971 and how we're headed for 50% monthly inflation and other economic armageddon.

At least guys like Jim Rogers actually take on positions and put their money where their mouth is and - according to his interviews - are and stay short the builders and investment banks in the US. Takes balls to stay short though, I don't have the balls for it.