Financial Vagabond

The Dow is off its lows for the day, and we are awaiting the results of the Lehman CDS auction.  The market is looking hopeful, but it could intervention that we keep seeing.  Look at the open of today and then the sharp rebound.  As an investor would you actually purchase a long position at [...]

I’ve attended a few performances by David Copperfield and he has performed the unbelievable.  Before my very own eyes a group of thirty people vanished into thin air.  Where did they go?  I watched the unbelievable made real right in front of me.  How could this be an illusion created to fool me into belief? [...]

The Fed is Heralded as a savior.         I’d like to present a dissenting opinion and it will only take a moment.  The Fed is a quasi-governmental entity — read private bank.  It is a very large private bank that oversees the money flows between banks with the exclusive privilege of creating and destroying [...]

Well here we are waiting on the morning of the opening bell.  The futures market is showing extreme weakness going into the open.  That isn’t anything out of the ordinary considering the news from Sunday.  Looking at the international markets, specifically Europe they are all DOWN.  Finance is getting slammed.  This isn’t surprising, but a very [...]

In talking about corporations… “The directors of such [joint-stock] companies, however, being the managers rather of other people’s money than of their own, it cannot well be expected, that they should watch over it with the same anxious vigilance with which the partners in a private copartnery frequently watch over their own. Like the stewards [...]