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« ETF Update: Homebuilders on the Rise? | Main | The New York Times Attacks Richard Syron »

August 04, 2008


Dave, Canada

I agree with your conclusions about Thain.
I sold naked Merrill Oct $25 puts yesterday at $2.80. If the shares retest their lows, I might get put MER at a net cost of $22.20, less than what Temasek & mgmt paid for their shares recently. If the shares have bottomed & keep going up, I'll earn the premium.


As the value-oriented ETFs fill up with financials of every make and model, unless "it's different this time" a buying interval is near.

The Meredith Whitney types are right about near term write downs. The financial industry needs to be right-sized. Business models are being re-worked, aggressively.

...but the survivors of this violent breeching of the staid fortress walls of American old school finance will be solid companies. Futhermore, the "new capital" won't be quick to sell once they recover.


the only reason to own any financials is a moral hazard bet. There is nothing to suggest that they are going to get back to normal anytime soon. Much of there business is gone forever

Larry Nusbaum

"There were two different ways of looking at the Thain saga."

Or, looking at a third way why would anyone listen to a CEO interview to gain information? They are nothing more than cheerleaders for their stock. He would have been better off keeping his mouth shut or saying "I don't know" or "I hope not" or "we're not ruling that out".

Thain now lacks credibility at the very least. His prior statements turned out to be false, wrong, mis-leading, foolish, ass-backwards, self-serving and damaging to investors.


Maria is a deft interviewer?

There goes what little credibility you had . . .

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