Boy do we need to get that obummer of a fool out of the oval office.
We need some pro-business, adult leadership for a change we can believe in.
I'm continuing to twist my way in and out of NLY and HUN, picking
up more and more free shares of HUN. This volatility is good for
something, after all.
Libs backing the wrong company. Again.
Libs without a cause and.....Libs without a clue.
Annaly is out with their Q3 Market Commentary. It's not light reading but Here is a Copy.
can't pretend to understand all of it, but after reading the whole
thing and consistently looking up the terms not in my vocabulary,
I'm more than getting the general flavor of the commentary.
New word - Endogenous.....the opposite of Exogenous.
Jeffries Group is an investment bank that I think has been unfairly lumped in with other troubled investment companies.
Here is their latest 10k
I have no interest in picking up another banking stock at this time,
I think a little speculation in this stock at these prices
would be worth the while. The CEO is certainly outspoken
about his company and I think leery investors may end up thinking
twice about abandoning the stock.
Here is his letter to investors, friends and others.
Why should anyone care about Greece?
things happen when a country sells debt to other nations and the
country selling the debt does not have the resources to make interest
payments to nations that bought that debt. Greece over the years
sold a lot of paper to the rest of Euroland. Euroland if it had
been smart, might have taken note that Greece has gone bankrupt no less
than five times over the years and and has been in a state of default
since its independence.
As an aside, it is interesting
that few if any anglo-saxon nations have ever defaulted and in
Euroland, it's a way of life.
So anyway, there are
a number of European states whose financial state is a mess and they
are having a tough time making payments on debt they themselves sold.
If Greece defaults, countries already in trouble
making their own payments will find it even harder to make those
payments without the interest they were expecting to receive from
Greece and could end up going into default themselves.
How bad is the problem?
It kind of reminds me of Nine Inch Nails - The Downward Spiral, and where that spiral actually ends.
should Euroland do about this? I think the preferred option is to
force Greece to reform their socialist house of cards and pay off their
The other option would be to kick Greece out,
absorb some of their debt and cut their losses on the rest to pennies
on the dollar.
The first option would be more palatable
but considering that fact the country has gone bankrupt five
times.........it may not be the most practical choice.
is also the reason I’ve been staying away from that 10-15%
international exposure that the money managers typically
These days, Canada is about as far abroad as I am likely to go.
Winter on its way.