Winning

Hedged some short positions with a BAC call, figured it could only make a new 52 week low so many days in a row.  Its paying off today, i'll update with a net gain, if any.  I have a longer term MS short that I'm going to attempt to ride back down.  It seems the United States has committed to preserving liquidity for foreign banks.

For more on that see this: http://www.zerohedge.com/news/here-comes-global-liquidity-bail-out


For a good speech on economics in the United States, see here:http://vimeo.com/32496312

How do we know B o A is going to fail?

Well, they just hired 1000 financial solution advisers to manhandle their preferred customer's money.  They are going to help these poor customers make standard investments in an irregular economy, I expect this effort to slightly +EV at best.  Make no mistake about it, this will not help bank of America in the short term.  Mortgage assets (burdens) inherited from countryside, malinvestment, and euro problems will be hurting BAC this year (we haven't hit bottom yet).   While the effort to improve service in areas in attempt to promote long term growth is admirable, BAC is not going to last long enough to see the long term.

warren buffet bashing encore

Warren Buffett has made another questionable stock play following it with a public announcement.  Buying IBM near a 52 week high, Buffett looks like he is setting himself for another great timing bust.  Like his disaster BAC and Wells Fargo play a few months ago, this IBM confidence should drain within a month or so.  Who advises buffett on financial decisions?  Surely he's just wasting money trying to prove a point, because his investing no longer makes sense, and his portfolio is no longer increasing in value.  Down over 10% on the year, Buffett no longer deserves the nickname "Oracle".

SCROOGE

Is it bah humbug of me to short christmas trees?