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RBS predicts severe crash
- Thread starter NY_HOOD
- Start date
Quote from jasonjm:
i love these analysts predictions
if Mr RBS was so sure of his analysis, why doesnt he just buy a fortune of 3 month puts on the SPX
nevermind bankrupt, RBS will be swimming in cash 3 months from now.
Glad to see there are people out there still thinking like you.
It gives the rest of us a little more time to sell out and prepare for the dark times ahead.
Keep ignoring the facts to help yourself feel better and sleep better at night, that will work for a little while longer.
Quote from united46:
Mmmmmmm
Let's think about this for a second. RBS, one of the worst hit banks in the UK over sub prime is making market predictions and some people agree with them.
If they were any good at predicting, surely they wouldn't have got into such major problems in the first place, right?
not particularly. Mer, BSC, Leh, they all have their analysts out there talking their books. Who'd believe them? Most of them couldn't pick their ass with both hands. I'm hearing one Institutional type tell me how disgusted he is with the whole thing.. Lots of discontent. What is different is, they are making a dire macro call. Granted, I happen to believe it. I was just astounded they did it, which says volumes. Now, Dougie Kass and the like are saying it's a buy signal, and it may be. But for a very short time. You cannot have the decay we have without suffering mightely. Anybody around in the 70's will attest to it. In the seventies, it just never stopped. It started with several of us, we were a very small detachment, in Europe, pooling our funds and going to the Bank to exchange our pay for local currency. Nixon devalued the dollar overnight. 10%. Then, we could n't drive if we weren't going to work. So, we all parked our asses at my place for two days at a time. That's why I misspell a lot of words 35 years later. Left a lot of brain cells somewhere. 1979, Death of Equities Businessweek c over, oil at 35 bucks which was huge, etc. etc. this can last. A long time!!!!
Ask yourself this. What else are they hiding? What else? Oh, there's plenty more. Plenty.
just witnessed some of the credit crunch firsthand here today in tampa fl at foreclosure auction.....few off the top of my head wells fargo commercial loan of 5mil no bidders @ 3mil also us bancorp dropping properties at about .4 on the $
Quote from cgtrader:
Glad to see there are people out there still thinking like you.
It gives the rest of us a little more time to sell out and prepare for the dark times ahead.
Keep ignoring the facts to help yourself feel better and sleep better at night, that will work for a little while longer.
Well I sure hope you sold out of RBS a while back, they are down about 60% you know.
Quote from flytiger:
Ask yourself this. What else are they hiding? What else? Oh, there's plenty more. Plenty. [/B]
I'm sure you are right.
What surprised me when this all broke was that this is the first time banks have ever lost money through poor judgement/greed etc.....
Still, I'm sure they've learned their lesson and such mistakes will never happen again.
Quote from cgtrader:
Glad to see there are people out there still thinking like you.
It gives the rest of us a little more time to sell out and prepare for the dark times ahead.
Keep ignoring the facts to help yourself feel better and sleep better at night, that will work for a little while longer.
why would you need more time
just hit the sell button, takes about 5 seconds?
BTW I only trade indexes (with occasional commodity or forex thrown in), and I am completely flat at this point in time. Taking a wait and see here.
I don't know that I agree with "crash". There are other professionals who are calling for the market to move lower, and stay flat for several years. That's another scenario, just a slow steady decline, of course a violent bottom, but I don't buy this "crash" nonsense. A crash comes from a disaster, the market now is like a slow motion car wreck; higher Ags & oil are just going to grind us lower, imo.
Excellent Commentary All
...............................................................................
Seems like there are serious credibility issues all over....
Who that has wealth would feel good about money mangement from any of the large banking or investment banking firms....
Which brings into question....
Where does one have high and certain levels of confidence ?
The fact is there is not much of it around.....
Which the remaining fact is.....
This means better opportunities for those who have
wisdom....
...............................................................................
Seems like there are serious credibility issues all over....
Who that has wealth would feel good about money mangement from any of the large banking or investment banking firms....
Which brings into question....
Where does one have high and certain levels of confidence ?
The fact is there is not much of it around.....
Which the remaining fact is.....
This means better opportunities for those who have
wisdom....