Comments on: Links 10/29/08 http://www.nakedcapitalism.com/2008/10/links-102908.html Sun, 22 Nov 2009 07:56:24 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: Mitchell http://www.nakedcapitalism.com/2008/10/links-102908.html#comment-23689 Mitchell Thu, 30 Oct 2008 03:19:00 +0000 http://www.nakedcapitalism.com/2008/10/links-102908/#comment-23689 This is a way out-of-date observation in the fast-moving world of 2008 crisis finance, but I just wanted to say somewhere that the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (one of the Fed's crisis lending facilities) reminds me of the Bear Stearns High-Grade Structured Credit Enhanced Leveraged Fund, one of the BS hedge funds whose failure was a harbinger of the credit crunch. Perhaps the principle is that anything which is that much of a mouthful is bad news. <br/><br/>And let us also remember MLEC (the Master Liquidity Enhancement Conduit, a stillborn proto-bailout). A comparatively short acronym, but for sheer dysphoniousness it's rivalled only by SLORC, the old name of Myanmar-formerly-Burma's ruling junta. This is a way out-of-date observation in the fast-moving world of 2008 crisis finance, but I just wanted to say somewhere that the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (one of the Fed’s crisis lending facilities) reminds me of the Bear Stearns High-Grade Structured Credit Enhanced Leveraged Fund, one of the BS hedge funds whose failure was a harbinger of the credit crunch. Perhaps the principle is that anything which is that much of a mouthful is bad news.

And let us also remember MLEC (the Master Liquidity Enhancement Conduit, a stillborn proto-bailout). A comparatively short acronym, but for sheer dysphoniousness it’s rivalled only by SLORC, the old name of Myanmar-formerly-Burma’s ruling junta.

]]> By: Anonymous http://www.nakedcapitalism.com/2008/10/links-102908.html#comment-23666 Anonymous Wed, 29 Oct 2008 22:27:00 +0000 http://www.nakedcapitalism.com/2008/10/links-102908/#comment-23666 Doc...<br/><br/>The poodles are taking a bath on their investments. The one on the left is clueless while the other two realize what is happening to them.<br/><br/>alternatively...<br/><br/>The two on the right have read about the upcoming large hadron collider experiment but the one left has not. Doc…

The poodles are taking a bath on their investments. The one on the left is clueless while the other two realize what is happening to them.

alternatively…

The two on the right have read about the upcoming large hadron collider experiment but the one left has not.

]]> By: doc holiday http://www.nakedcapitalism.com/2008/10/links-102908.html#comment-23651 doc holiday Wed, 29 Oct 2008 18:59:00 +0000 http://www.nakedcapitalism.com/2008/10/links-102908/#comment-23651 Oh My God, The Large Hadron Collider, put hair on My Children's chest's! Oh My God, The Large Hadron Collider, put hair on My Children’s chest’s!

]]> By: Anonymous http://www.nakedcapitalism.com/2008/10/links-102908.html#comment-23650 Anonymous Wed, 29 Oct 2008 18:44:00 +0000 http://www.nakedcapitalism.com/2008/10/links-102908/#comment-23650 Baychev:<br/><br/>The FT article is a shocker really, Martin Wolf is usually quite measured in his outlook. But the Financial Times staff seems to have come into the office on Monday and had a collective screaming session. Then they sat down and wrote an editorial that says we must have what is essentially a Japanese solution -<br/>see it at <br/><br/>http://www.ft.com/cms/s/0/0af9eba4-a528-11dd-b4f5-000077b07658.html?nclick_check=1<br/><br/>My God! 10 years of drudgery seems to look like paradise to these guys now. Baychev:

The FT article is a shocker really, Martin Wolf is usually quite measured in his outlook. But the Financial Times staff seems to have come into the office on Monday and had a collective screaming session. Then they sat down and wrote an editorial that says we must have what is essentially a Japanese solution -
see it at

http://www.ft.com/cms/s/0/0af9eba4-a528-11dd-b4f5-000077b07658.html?nclick_check=1

My God! 10 years of drudgery seems to look like paradise to these guys now.

]]> By: doc holiday http://www.nakedcapitalism.com/2008/10/links-102908.html#comment-23636 doc holiday Wed, 29 Oct 2008 16:11:00 +0000 http://www.nakedcapitalism.com/2008/10/links-102908/#comment-23636 This snapshot really pisses me off with the symbolic metaphor that suggests that global junk food has now entered the pet food chain, just like pet insurance, pet benefits, pet 401Ks and the incredibly stupid world of synthetic off balance sheet derivatives, like the recent CDS currency intervention crisis that brought these pets all to their knees. Everyone knew this was too good to be true, but everyone was too busy to stop and think about the consequences of socialized pet daycare and endless cash burn related to inflationary trends that were sucking the life out of a bottomless well of tasty malted milk-like savings account which everyone and their Moms thought was an infinite source of excess from which they could suck on like a canine pacifier.<br/><br/> When will this Hindenburg/Large Hadron Collider humanity stop -- when will the blimp burn out and the greasy stains of this soiled and hairy era be washed away? The sins of The fathers are one thing, but the greed of these mothers is reproachable and one does wonder how this will be righted!<br/><br/>I feel better when I write about these things, but then when I see that snapshot, I just get pissed off even more and then go off on the need for union wages and speech therapy and socialism and globalization and, there, yah see, this is like the perfect photo for posters and the final challenge to not allow our world to goto these greedy dogs! This snapshot really pisses me off with the symbolic metaphor that suggests that global junk food has now entered the pet food chain, just like pet insurance, pet benefits, pet 401Ks and the incredibly stupid world of synthetic off balance sheet derivatives, like the recent CDS currency intervention crisis that brought these pets all to their knees. Everyone knew this was too good to be true, but everyone was too busy to stop and think about the consequences of socialized pet daycare and endless cash burn related to inflationary trends that were sucking the life out of a bottomless well of tasty malted milk-like savings account which everyone and their Moms thought was an infinite source of excess from which they could suck on like a canine pacifier.

When will this Hindenburg/Large Hadron Collider humanity stop — when will the blimp burn out and the greasy stains of this soiled and hairy era be washed away? The sins of The fathers are one thing, but the greed of these mothers is reproachable and one does wonder how this will be righted!

I feel better when I write about these things, but then when I see that snapshot, I just get pissed off even more and then go off on the need for union wages and speech therapy and socialism and globalization and, there, yah see, this is like the perfect photo for posters and the final challenge to not allow our world to goto these greedy dogs!

]]> By: Richmond Rambler http://www.nakedcapitalism.com/2008/10/links-102908.html#comment-23625 Richmond Rambler Wed, 29 Oct 2008 14:46:00 +0000 http://www.nakedcapitalism.com/2008/10/links-102908/#comment-23625 @8:24 am<br/><br/>I'm interested in learning more about something I recently read: Mandelbrot's being in cash 90% and 10% long OTM options. Yves has mentioned Mandelbrot's cautionary attitude toward equities several times...<br/><br/>The adorable photo has been duly forwarded to everyone I know! Priceless. @8:24 am

I’m interested in learning more about something I recently read: Mandelbrot’s being in cash 90% and 10% long OTM options. Yves has mentioned Mandelbrot’s cautionary attitude toward equities several times…

The adorable photo has been duly forwarded to everyone I know! Priceless.

]]> By: Anonymous http://www.nakedcapitalism.com/2008/10/links-102908.html#comment-23624 Anonymous Wed, 29 Oct 2008 14:24:00 +0000 http://www.nakedcapitalism.com/2008/10/links-102908/#comment-23624 EHP,<br/><br/>Is this not a pension thing not a perfect re-run of 2001-2. They are even using the same press releases... EHP,

Is this not a pension thing not a perfect re-run of 2001-2. They are even using the same press releases…

]]> By: Anonymous http://www.nakedcapitalism.com/2008/10/links-102908.html#comment-23623 Anonymous Wed, 29 Oct 2008 14:21:00 +0000 http://www.nakedcapitalism.com/2008/10/links-102908/#comment-23623 MUFG seeks $10.6 billion from share sales-The re-capitalisation plan comes as share prices continue to plunge and follows the Japanese bank's own $9 billion capital injection into Morgan Stanley.<br/><br/>http://www.financeasia.com/article.aspx?CIaNID=87659 MUFG seeks $10.6 billion from share sales-The re-capitalisation plan comes as share prices continue to plunge and follows the Japanese bank’s own $9 billion capital injection into Morgan Stanley.

http://www.financeasia.com/article.aspx?CIaNID=87659

]]> By: Anonymous http://www.nakedcapitalism.com/2008/10/links-102908.html#comment-23615 Anonymous Wed, 29 Oct 2008 12:50:00 +0000 http://www.nakedcapitalism.com/2008/10/links-102908/#comment-23615 anon at 8:24 am...<br/><br/>I was facing the same problem that you are. I am not a financial wizard but I knew in 2006 that stuff was going to hit the fan. My 'investment adviser' at Smith Barney advised me that Wall St Banks were 'too big to fail'. I laughed at that notion and had all stocks sold and left in cash. <br/><br/>I bought physical gold with half the cash and still have the other half in cash. My plan is to purchase treasuries when the US Fed jacks interest rates, which eventually they will be forced to do, imo. <br/><br/>I am in no way connected to any gold or financial institution. Perhaps my plan will fail but it is the best that I could come up with that seemed fairly safe. In any case, had I remained in stock I would already be destroyed. Good luck! anon at 8:24 am…

I was facing the same problem that you are. I am not a financial wizard but I knew in 2006 that stuff was going to hit the fan. My ‘investment adviser’ at Smith Barney advised me that Wall St Banks were ‘too big to fail’. I laughed at that notion and had all stocks sold and left in cash.

I bought physical gold with half the cash and still have the other half in cash. My plan is to purchase treasuries when the US Fed jacks interest rates, which eventually they will be forced to do, imo.

I am in no way connected to any gold or financial institution. Perhaps my plan will fail but it is the best that I could come up with that seemed fairly safe. In any case, had I remained in stock I would already be destroyed. Good luck!

]]> By: Anonymous http://www.nakedcapitalism.com/2008/10/links-102908.html#comment-23614 Anonymous Wed, 29 Oct 2008 12:24:00 +0000 http://www.nakedcapitalism.com/2008/10/links-102908/#comment-23614 I'm at a loss for what to do right now with a bunch of cash we've got. I agree with the general idea that the U.S. will inflate their way out of indebtedness.<br/><br/>I'd like to allocate to hedge against this, but it's not clear to me which vehicles provide a reasonable hedge. Given the stress in currencies right now, is there a currency basket anyone can recommend? My other idea was to invest in some kind of grains/agriculture ETF.<br/><br/>I'm not a sophisticated investor, and I've done very well so far... So any ideas are welcome. I can do the research from there. I’m at a loss for what to do right now with a bunch of cash we’ve got. I agree with the general idea that the U.S. will inflate their way out of indebtedness.

I’d like to allocate to hedge against this, but it’s not clear to me which vehicles provide a reasonable hedge. Given the stress in currencies right now, is there a currency basket anyone can recommend? My other idea was to invest in some kind of grains/agriculture ETF.

I’m not a sophisticated investor, and I’ve done very well so far… So any ideas are welcome. I can do the research from there.

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