This is one of the most absurd posts I have ever read on ET. I postmarking it for future reference. LOL.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
KING OF BAIN....Oh My Gawd!
- Thread starter RCG Trader
- Start date
This is one of the most absurd posts I have ever read on ET. I postmarking it for future reference. LOL.
Quote from Lucrum:
Yep, I am making that argument, which is one reason I avoid Soros threads and discussions, although I did read one of his books. He broke the bank of Britain. When people say is a Rothchild like person or whatever, I have nothing to say. Soros is smart, he analyzed the fundi's and realized he had the bullets to kill the Sterling. And about him being a great trader, while I have not studied him extensively, I think that was the only killer trade he ever made.
Here, I hope this will clarify and simplify:Quote from Maverick74:
OK, I have no desire to argue this with you if your reading comprehension is weak. I'll speak on my behalf. I can separate what people do from what they believe. For example, I think Sean Penn is a great director even though I hate his politics. I think Soros is a great trader. By the argument RCG is making, Soros is guilty of destroying many many people's lives. Way more then Romney. That is the argument RCG is making. I'm not making that argument.
What annoys me are these people who condemn someone for trying to make a profit then you turn around and see they are a trader. A profession which arguably offers nothing of value to society except for creating volatility that ultimately destroys people's savings and creates inflation on the middle class. It's the hypocrisy that stinks.
http://www.elitetrader.com/vb/showthread.php?s=&postid=3413867#post3413867
Quote from Brass:
Here, I hope this will clarify and simplify:
http://www.elitetrader.com/vb/showthread.php?s=&postid=3413867#post3413867
You are quoting this page?
Quote from Maverick74:
This is one of the most absurd posts I have ever read on ET. I postmarking it for future reference. LOL.
Well, confusion comes easily to you, so bookmark it and let it mold in your d-base, I am consistent. I do not trade oil stocks or CL. If some do that is fine. Great. I do not trade big Pharma, either. It is absurd to you because people like Mittens and Bain are heroes to you, and that says quite a bit.
Quote from RCG Trader:
Well, confusion comes easily to you, so bookmark it and let it mold in your d-base, I am consistent. I do not trade oil stocks or CL. If some do that is fine. Great. I do not trade big Pharma, either. It is absurd to you because people like Mittens and Bain are heroes to you, and that says quite a bit.
RCG, you trade FX in an ONDA because you are short on trading capital. I'm not knocking you, but you and I both know that's true. You don't have a futures account. Why are you making this so complicated. We have exchanged e-mails. You told me your life story. I get it. Don't make this into something that it's not.
And I never said Bain or Mitt is my hero. Jesus Christ man. Get a cup of coffee and come back when you are more alert. LOL.
I think you should read more about him and his motivations before you draw conclusions about a very complex man. He is largely demonized for purposes of expediency.Quote from RCG Trader:
Yep, I am making that argument, which is one reason I avoid Soros threads and discussions, although I did read one of his books. He broke the bank of Britain. When people say is a Rothchild like person or whatever, I have nothing to say. Soros is smart, he analyzed the fundi's and realized he had the bullets to kill the Sterling. And about him being a great trader, while I have not studied him extensively, I think that was the only killer trade he ever made.
Quote from Brass:
I think we'll have to agree to disagree on this one. LBO outfits left a lot of smoking waste in their wake while waving the flag and beating the capitalism drum. As for accounting 101, they have characteristically overleveraged the companies they then plundered with excessive dividend withdrawals. That's a double no-no when taken to the extreme, which LBOers typically did. They did it not so much because it was the managerially right thing to do but because they could. They cut costs to make the companies appear more profitable, but in many cases it was with too short-term an outlook, and one that had farther reaching consequences - longer-term viability. Leverage is a two-way sword. And they were opportunistic swordsmen.
Again, I am not suggesting I know what the net effect was across all the companies that Bain touched. I would very much like to see it laid out so that we can all draw the same objective conclusion. However, I think we both know how LBO firms operated. Therefore, I will remain somewhat biased against the "value" such operations create until I see the evidence in full.
I completely agree with the problems you've cited. I don't think we are actually that far off. The main difference is a presumption of innocence or guilt, before seeing the facts.
From the preliminary facts that I've seen, I would tend to lean toward the idea that "predatory" actions were the exception and not the rule at Bain. A frequent analogy about Bain is that Bain showing up at your company is just like Gordon Ramsey showing up at your restaurant. They are the superstar at knowing how to make things function properly and turn your company into a success that you never could without them. But there is gonna be some discomfort in the process.
And even though Bain gets all the press, if we are using Bain as a measure of Romney's skills as a turn-around artist, I think the Olympics are actually a better measure.