Last Updated on March 18, 2009 by stlplace
Link here.
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Month: March 2009
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Buffett on CNBC
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Last Updated on March 9, 2009 by stlplace
The Squawk box, here are the videos.
Part 1:
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Last Updated on March 9, 2009 by stlplace
This is the T. Rowe Price TV commercial I saw today.
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Don’t tick off Jon Stewart
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Last Updated on March 11, 2009 by stlplace
(Update 2: March 11) Cramer shot back, Stewart responds.
(Update) Correct the name (from Steward to Stewart).
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Recent Bank Ads on WSJ
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Last Updated on March 7, 2009 by stlplace
We know CEOs of some of the nation’s largest banks are buying their companies’ stocks, to show their confidence on their respective company.
It’s also interesting to see some of the leading banks are putting up a lot Ads on Wall Street Journal. I took some pictures here from WSJ in these days and share them here.
(Citi bank shows a happy couple/home owners who got mortgage from Citi)
(This JetBlue ads encourage CEOs to ditch their business jet and use the discount carrier)
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Glass half full? Glass half empty?
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Last Updated on March 7, 2009 by stlplace
Week in review 030109 to 030709
We are officially in Obama bear market (source: Bloomberg), in other words, the stock market (i.e., Dow industrial for most people) dropped 20% since President Obama took office in Jan 20. Yesterday S&P 500 briefly touched 666 (the number of devil), pretty scary, huh? I am sure this economy/financial crisis has been the hot topic in many kitchen table, or office cafeteria. The financial media is also taking the crisis as oppertunity — we have seen numerous experts, panel discussions, such as the “Help Wanted” talk last night on CNN money, which is mainly talking about the Feb. job (loss) number: 650,000. This number is actually small, if we put it into perspective that 20 million Chinese migrant workers already lost job since the end of last year (read my friend Bo Peng’s article if you are interested).
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Last Updated on March 7, 2009 by stlplace
This is the second part of my thoughts on bank nationalization, I hope President Obama and his finance team can read my blog, as they are thinking through the “bank rescue”, the No. 1 issue facing this country, and the world economy for that matter.
As I said in my previous post, bank nationalization appears bad for the existing shareholders of bank common stocks, in the sense they will get wiped out or diluted. But I also said this is merely “mark to market” for them, whether they want to face it or not, the day of reckoning will come soon or later. In the mean time, when we are waiting for the eventual take over of some of the nation’s largest banks, consumers and business get scared, they either withdraw money and put under their mattress (consumers), or stopped investing and started hiring freeze/travel freeze/lay off (business). This will have spill over effect on the world, as we are living in a increasingly globalized economy. When the rumor of China new stimulus started, the US stock market started to rally. You got the idea.
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S&P 500 10 years chart
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Last Updated on March 2, 2009 by stlplace
March 04 1999 to Mar 02 2009, courtesy of Google Finance.
Two thoughts pop up by looking at the charts:
1) We probably have not hit bottom yet;
2) The drop in mid 2008 till now is so sharp, 50% in one year 🙁
BTW, I think it’s a good idea to stay away from the market these days. Learn from the Oracle of Omaha.