Game thread: Today's DJIA

[smupony94]

Blue Horse Shoe Loves Anacot Steel.

You once told me never to get emotional. We are 1-5 with six games to go. As your broker, I'm advising you to sell!

You have six games to close...what do you want to do 94?

Double down

[Blue Horseshoe]

Blue Horse Shoe Loves Anacot Steel.

One third of that comes from hard work, two thirds comes from inheritance, interest on interest accumulating to widows and idiot sons and what I do, stock and real estate speculation. It's [deleted]. You got ninety percent of the American public out there with little or no net worth.

* 49,000 U.S. households now have between $50MM and $500MM in net worth.

*125,000 U.S. Households have a net worth of $25M - $50M.

*Over the next 50 years the wealthiest Americans will leave behind roughly $27 trillion dollars.

*The richest 1% of Americans control more wealth than 90% of the entire U.S. population.

*In 1985 there were only 13 billionaires...today, there are more than 1000 (U.S. citizens)

*The top 1% of neurosurgeons made an average of $2.7MM while the top 25 hedge fund managers made an average of $877MM!

My point is that there are a lot more people we can go ask for money but I'd rather have their skills to make something out of nothing!

Sell into any rally!

[Blue Horseshoe]

go long for the weekend...you won't be disappointed!

[EastStang]

Americans have two choices, panic and sell and make things worse, go have a stiff drink, and gripe about how much money they've lost. Kind of like us Mustang fans. Its nice to be able to brag that you lost money in the stock market, some people didn't have anything to lose in it except their jobs.

[Pony Soup]

Blue Horshoe, I like your advice.

[Pony Soup]

Can we blame any of this on Pye? PB? Cavan? Copeland?

Blame Me. Sorry!

you're the guy from XTO who sold all those shares this week?

No no (I am guessing you mean XTO's CEO Bob Simpson - although i havent watched their Form 4s - and i laugh at CHK being a 14 dollar stock).

Anyways, try again. But think further back, where it all began.

Yeah, awhile back I was back and forth between XTO and CHK. Not that either matter now. Where it all began. Hm. Guess you're a countrywide guy, huh?

No - not countrywide. But F their loans werent that ugly relative to what we came up with on our own. We were BIG buyers of flow production from CW though...something like 4 billion a month

Hello FNM?

NO WAY..but i have great stories about fannie and freddie=)

give some more hints...private equity, pension fund, Texas Teachers Retirement since you're in Austin?

383 Madison Avenue, Floors 7 and 10.

[RGV Pony]

I was always leery of a financial company with "Bear" in its name But if you're now a Chase employee, at least you landed on your feet!

[Alaric]

Can we blame any of this on Pye? PB? Cavan? Copeland?

Blame Me. Sorry!

383 Madison Avenue, Floors 7 and 10.

Yea, I gotcha but they were far from being the only player...lots of WMDs out there besides just them. they were just the first shoe to fall. a good start to have prevented this would have been to treat CDS's like insurance and regulate it (like was attempted in 1998 & 2000).

"As of November 30, 2007 Bear Stearns had notional contract amounts of approximately $13.40 trillion in derivative financial instruments, of which $1.85 trillion were listed futures and option contracts."

[Alaric]

I didn't know this:

Bear Stearns made the first public securitization of Community Reinvestment Act (CRA) loans started in 1997

[Pony Soup]

Can we blame any of this on Pye? PB? Cavan? Copeland?

Blame Me. Sorry!

383 Madison Avenue, Floors 7 and 10.

Yea, I gotcha but they were far from being the only player...lots of WMDs out there besides just them. they were just the first shoe to fall. a good start to have prevented this would have been to treat CDS's like insurance and regulate it (like was attempted in 1998 & 2000).

"As of November 30, 2007 Bear Stearns had notional contract amounts of approximately $13.40 trillion in derivative financial instruments, of which $1.85 trillion were listed futures and option contracts."

You have no idea what we knew...the statistics i could show you are unreal. And you can call the agencies and the ratings guys complicit in this whole thing. No more stories here though.

[RGV Pony]

keeping with the "game thread" theme, the day ended down 128, a nice recovery from early on. Most of my stuff pared early losses, but GS still down 12 with Moody saying "negative."

I guess it's still an L for the day, but maybe JJ feels we're still young and the market just needs to get where it plays instead of thinks? Build the foundation now.

[stobor]

Can we blame any of this on Pye? PB? Cavan? Copeland?

Blame Me. Sorry!

you're the guy from XTO who sold all those shares this week?

No no (I am guessing you mean XTO's CEO Bob Simpson - although i havent watched their Form 4s - and i laugh at CHK being a 14 dollar stock).

Anyways, try again. But think further back, where it all began.

Yeah, awhile back I was back and forth between XTO and CHK. Not that either matter now. Where it all began. Hm. Guess you're a countrywide guy, huh?

No - not countrywide. But F their loans werent that ugly relative to what we came up with on our own. We were BIG buyers of flow production from CW though...something like 4 billion a month

Hello FNM?

NO WAY..but i have great stories about fannie and freddie=)

I'm going to guess you formerly worked at Bear Stearns and left NY to go to Austin to get an MBA. How close?

[Alaric]

Can we blame any of this on Pye? PB? Cavan? Copeland?

Blame Me. Sorry!

383 Madison Avenue, Floors 7 and 10.

Yea, I gotcha but they were far from being the only player...lots of WMDs out there besides just them. they were just the first shoe to fall. a good start to have prevented this would have been to treat CDS's like insurance and regulate it (like was attempted in 1998 & 2000).

"As of November 30, 2007 Bear Stearns had notional contract amounts of approximately $13.40 trillion in derivative financial instruments, of which $1.85 trillion were listed futures and option contracts."

You have no idea what we knew...the statistics i could show you are unreal. And you can call the agencies and the ratings guys complicit in this whole thing. No more stories here though.

yea, I've heard about some anonymous moles recently saying basically the same thing...that their models were showing imminent implosion. Package it and sell it before it blows up!

BTW, check out Guns Traders and Money. You won't learn anything new but you'll like Das' humor