Quote from John D. Arnold formerly of Centaurus Advisors, LLC

[dealmaker]

John Arnold ‏@JohnArnoldFndtn 4h4 hours ago


Yesterday was the Ira Sohn Conference, where HF managers try to convince others to provide liquidity so presenters can exit old positions.

 

[qxr1011]

that what HF business is about - OPM....

 

[speedo]

I remember in the beginning of the bear market of 2000. Goldman Sachs would trot Abby Joseph Cohen out over and over on CNBC to tell the Great Unwashed how great a buying opportunity this was. I was trading stocks at the time and every L2 screen I pulled up had GSCO (Goldman Sachs) sitting at the offer all day long selling to the suckers.

 

[jem]

I remember very similar things.

I also remember in the mid 90s during a big nasdaq selloff Goldman was on bid of MSFT buying up millions of shares the barely moved while most stocks went down quite a bit. The stock skyrocketed during the next upswing. I think later the stock buyback plan was announced.

I remember listening to the S&P pit radio. The day before the FED announcements Merrill was always buying or selling massively. Forecasting what the FED was going to do the next day.

CNBC was talking about the size of the folder Greenspan walked into the office with. I was laughing at the bullshit on T.V. That is when I began to realize FED shit was all just a performance. One FED guy is a hawk one is a dove. Then they trot out a spokesmodel from Pimco or Buffett.

I remember in the beginning of the bear market of 2000. Goldman Sachs would trot Abby Joseph Cohen out over and over on CNBC to tell the Great Unwashed how great a buying opportunity this was. I was trading stocks at the time and every L2 screen I pulled up had GSCO (Goldman Sachs) sitting at the offer all day long selling to the suckers.

 

[dealmaker]

Merryn Somerset Webb Retweeted
Atilla Demiray ‏@xtrends 6h6 hours ago


circle of life: firms buying their own shares with borrowed money while #insiders dumping onto their own firms.