The Surf Report

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Quote from sportsguy:

Watch for buying opportunities.
Bill Miller
Chairman and chief investment officer, Legg Mason Capital Management

These sorts of things are what's known to the academics as "endogenous to the system"--that is to say, they're normal. They happen usually every three to five years. So we had a freezing up of the market for corporate credit in the summer of '02. We had an equity bubble just before that. In '98 we had Long-Term Capital. In '94 we had a mortgage collapse like we're having right now. In 1990 we had an S&L collapse. In '87 we had a stock market collapse. These things flow through the system, and they're part of the system. I saw one quant quoted over the weekend saying, "Stuff that's not supposed to happen once in 10,000 years happened three days in a row in August." Well, I would think that you would learn in Quant 101 that the market is not what's known as normally distributed. I'm not sure where he was when all these things happened every three or five years. I think these quant models are structurally flawed and tend to exacerbate this stuff.

But these events represent opportunities. When markets get locked up like this, it's virtually always the case that you'll have opportunities if you have liquidity. Instead of worrying how bad it's going to get, I think people should be thinking about where the opportunities might be.
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hey sportsguy, thanks for the information. hopefully, you cleaned up with your shorts earlier--very very nice trade!!

surf
 
Quote from marketsurfer:

please go back and reread the posts. shorted @ 13190--posted in very close to real time.

surf
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I did. And my comment stands.

Do your followers really let you get away with this nonsense?

LC
 
Quote from nkhoi:

it was very close to real time as I trade YM, you can see my post followed his post.
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thanks, nkhoi. lamont is a rabble rouser--- wondering if he is "related" to proflogic?

hahaha,

surf:D
 
Quote from marketsurfer:

thanks, nkhoi. lamont is a rabble rouser--- wondering if he is "related" to proflogic?

hahaha,

surf:D
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If the rabble falls for this, they need to be roused.

LC
 
Quote from marketsurfer:

SURF ALERT

information is indicating a big down day today in DJIA.

coming out of UK does not bode well.
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MARKET ALERT : CROX +2.3 to $58.43
Quote from jsmith:

Hey Surf,

Are you still short CROX or did you stop out and waiting for re-entry?

Thanks!
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Quote from marketsurfer:

yes, still short.
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