Interesting article on the world of fake wine...
How would you fake wine, anyway? You could blend two vintages, say a bottle of ’81 Pétrus (average auction price: $1,194) and a bottle of ’83 Pétrus ($1,288), to make two bottles of ’82 Pétrus ($4,763 each). It would be the right wine and taste the right age; even if it didn’t taste exactly like ’82, it wouldn’t taste exactly like ’81 or ’83 either.
http://nymag.com/news/features/rudy-kurniawan-wine-fraud-2012-5/
Tuesday, May 15, 2012
Thursday, May 10, 2012
HP is still tied to the Whipping Post
http://tech.fortune.cnn.com/2012/05/08/500-hp-apotheker/
This is a very interesting article on HP and the clowns that run it.
BTW...I do not mean to be disrespectful.
This is a very interesting article on HP and the clowns that run it.
BTW...I do not mean to be disrespectful.
They Keep Doing IT.
Wall Street has hired the best minds in the world to develop investment models. Most of these models use some degree (large) of historical data to back test the models and check performance. These models for a variety of reason implode leaving huge losses for the participants.
Chase Morgan designed a model and it had a $2 Billion implosion.
http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2012/05/10/financial/f142109D20.DTL&tsp=1
"The loss came in a portfolio of the complex financial instruments known as derivatives, and in a division of JPMorgan designed to help control its exposure to risk in the financial markets and invest excess money in its corporate treasury."
By the way, our buy list is down to 6.49%, S & P 500 is at 7.98%.
Chase Morgan designed a model and it had a $2 Billion implosion.
http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2012/05/10/financial/f142109D20.DTL&tsp=1
"The loss came in a portfolio of the complex financial instruments known as derivatives, and in a division of JPMorgan designed to help control its exposure to risk in the financial markets and invest excess money in its corporate treasury."
By the way, our buy list is down to 6.49%, S & P 500 is at 7.98%.
Monday, April 30, 2012
It's the end of April as we know it.
S and P 500 @ 11.16%
Our Buy List is at 7.86%
We are now entering the "Go away in May and Stay" season.
Our Buy List is at 7.86%
We are now entering the "Go away in May and Stay" season.
Sunday, April 22, 2012
April 2012 Option Expiration Update
S and P 500 9.62%
Buy list 6.01%
Option trades 6.63% (April 21.)
Bought AFL.
No April option hit strike price.
Options for May
Cash position $5,500,000
Realized and stashed Profit. $630,000
May Option CC sales $20,040.
Tuesday, April 10, 2012
When is a CEO not a CEO
I was going to write today about Brian Dunn, CEO of Best Buy jumping from a sinking ship like a stoned Italian cruise ship captain. My thought was that when a company is in trouble the CEO hangs in there until he is shown the door and then is kind enough to show his replacement where the light switches are. Best Buy is dying and he quits...
"It's good news that he's gone," said Brian Sozzi, chief equities analyst at NBG Productions, an independent research firm. "But this adds another layer of uncertainty."
This article reviles that it probably was more than that. Maybe Larry Ellison will hire him too.
http://www.businessweek.com/ap/2012-04/D9U2DIH80.htm
"It's good news that he's gone," said Brian Sozzi, chief equities analyst at NBG Productions, an independent research firm. "But this adds another layer of uncertainty."
This article reviles that it probably was more than that. Maybe Larry Ellison will hire him too.
http://www.businessweek.com/ap/2012-04/D9U2DIH80.htm
In the last post I wrote the cash is comfortable right now and how right I was.
S and P 500 is at 8.03% and our buy list is at 4.18%
Our covered call list is the king right now.
Speaking of the covered call list. AFL signaled a buy and I did at $42.22
Our Jan purchase price was $43.26 and we sold with the Feb Covered Call at $44 strike when the price was at $48.01. I will wait until after the April expiration date to sell Covered Calls on it now although the $43.00 strike price is at .58.
I think this is going to get worse before it gets better.
S and P 500 is at 8.03% and our buy list is at 4.18%
Our covered call list is the king right now.
Speaking of the covered call list. AFL signaled a buy and I did at $42.22
Our Jan purchase price was $43.26 and we sold with the Feb Covered Call at $44 strike when the price was at $48.01. I will wait until after the April expiration date to sell Covered Calls on it now although the $43.00 strike price is at .58.
I think this is going to get worse before it gets better.
Subscribe to:
Posts (Atom)