OK, one of these guys is getting sued by Bank Atlantic, and the other is the architect for the Matrix, and I'll be darned if you make me tell you which is which.Unless...
It's the SAME GUY!
OMG, Bank Atlantic is right, Dick Bove really did create the Matrix. The Fly has footage to prove it. That "anomaly" on the balance sheet makes more sense now.
I totally disagree with the take of everyone who finds absurdity in the fact that a company can sue an analyst for his opinion. And it has nothing to do with the fact that I don't want Agent Smith showing up at my door.
This is America. I find zero value in stock research that is not Litigation-Tested. The best way to keep our markets healthy is to keep them free from contrary opinion and short sellers. And who better to do that than a bunch of lawyers.
7 comments:
I forget if this was the blog where no comments were considered off-topic, or some other one, :-) BUT somebody needs to get Cramer back on his meds this morning. Here's his latest hysteric, from the gasoline plunge piece:
"These are gigantic moves, and they relate to a hedge-fund community that has completely and utterly been on the wrong side of the trade.
I have never seen anything like it. So much money, so wrong, so poorly positioned, producing an exact inversion of the gains that were made for the last year.
Just repealed."
Now, I can't speak for any hedgefunds the way Cramer can, but puh-leeze. The short financial long commoditiy trade is really giving up the last year's gains!?! Were they ratcheting up their leverage everyday going into the latest low last week. Speaking for myself, I've been certainly whip-sawed off my highs, but I'm still up from the end of May (knock on wood).
And when I look at the S&P it's more below its May highs than it is above its July lows.
I myself have found when he get's overly emotional, such now the trade is near it's end. Which is not to say it is necessarily time to fade him. The time to fade him is when he makes a matter-of-fact call that the next move can only be up. Oh wait, ummm, kind of like his one this morning on the housing bill passing Congress... yep, that was when the S&P was over 1290.
He is a good proxy for John Q. Public's emotions. Pure fades of his calls would get nowhere, you hit the nail on the head with the emotion aspect. If there was like a scale system, he gets like despondent at bottoms and euphoric at tops.
And he always has these "outs". Like last week he hated all financials, but now the housing bill makes last week's opinion non-operational. Everything has changed! They have our backs, for the 4000th time since this started.
Hey Adam,
Is POT looking at a big move tomorrow for earnings?
Thanks
Is this shirt Erin has on the "daughter of the Giraffe dress?"
james: your wish is my command, just posted it.
puck: lemme look, too busy researching POT for James to glance up.
...whoa, nice call, it does look like it. Or maybe the same one, with a jacket over it.
It's always amusing to see n00bs criticize Cramer for actually, you know...changing his analysis after Congress just passed the most important housing bill in several decades.
yeah, but what point is a market call if it's non-operational as the backdrop changes? It's like saying you predict the Yankees will lose, unless they outscore the other team.
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