You guys better knock it off. http://www.huffingtonpost.com/2008/03/28/sec-investigating-trading_n_93998.html
They obviously are in trouble. SEC is trying to regulate not talking about a company when they are in serious trouble. Alright...... Hope LEH collapses from their greed. I can say anything I want as I don't have a position. Fed will probably bail them out anyways.
There were really tough rumors out of Europe. I haven't seen them in print, but they were in internal notes of at least one major firm. Einhorn gives a lecture in front of 1000 people. He obviously is short to where he needs to be. THEN, HE MAKES THE REPORTERS SIGN THAT THEY WON'T RELEASE A STORY UNTIL NOON THE NEXT DAY!!!! That gives his 'peers' two and a half hours to crawl all over LEH. I have no sympathy for LEH, or GS, or any of them. In my mind, it is their quest for all the wealth that has killed the Capital Markets. But these tactics were what Amir Elgindy did. Where does it stop. Can I call your wives and tel them you're screwing around just because I think it, or I don't like it? Then, can I call the local paper and put it in there? These punks are running rampant. CNBC is helping them, and it is about all to come crashing down. The SEC won't do it. The self regs won't. See the arrests yesterday? I heard it is the "tip of the iceberg". Can't wait. May start drinking again just to celebrate. then, maybe talent and ethics will have a chance. Fucking punks.
I am sure that I am not the only one; who have bought PUT options on LEH at beginning of May. (bought on May 6 and May 7) very happy now.
Give it a rest already! You are always crying about things that are negative and spouting ethical bullshit. I am not really interested in calling you out, but rumors are a fact of life in the markets. Good and bad, they are circulating everyday. You can either try to take advantage of the information gradient in the equity markets or you can put all your money in bonds or money market funds (but I guess they too suffer from negative rumors). Again, not really trying to be an asshole and climb all over you, but I am one of those pirrahna day traders that will short the shit out of somehting at the first sign of trouble. If I am wrong , I pay the price, but ultimately there is very often some truth, or at least some good reason why the rumors get started in the first place. When they are baseless and totally false, the market digests them pretty quickly and the stocks find their appropriate price. However, when there is some grain of truth and the market collectively has a reason to validate the rumor, well............ In my opinion thats what 'free markets' are. They are the forum where the good the bad and the ugly all come together and information is vetted to allow a 'fair market price' to be established. You know, the efficient market hypothesis and all that other theoretical bullshit that I make a living trying to disprove everyday. Sorry to be a prick, but I am feeling cranky today and needed someone to rip on. Cheers
Market rumours are part of the market. If they were doing their job the SEC would investigate if Lehman is spreading false or deliberately misleading information to keep the stock artificially high. How about the SEC check who was buying ahead of the recap announcement, how about they investigate the trading on that day. How about they investigate LEH's disclosure and accounting policy, how about they investigate misleading statements by LEH's management. Clearly the SEC now works for the benefit of the brokers and not the public it is supposed to protect the public against.
I do not take shame in this. Why we are in this mess is because of people who just think the markets are a cesspool to vent their waste. This is a Washington power game at this point, and they are realizing that they have risked the entire system. It's a scramble now to keep it afloat. And if you think about it, the reason you can't get a borrow, or that the puts are loaded, is the 'rumor mongers' are already there. Oh, they throw you a bone now and then and let you in. But generally, no. Beating up a company, any company, and then unleasing reporters is just plain wrong. And looking around, it wasn't very healthy for the markets, was it? I trade. I just have some self respect and some respect for the institution. and if I have to cheat, I'll pick up trash or something. I'm better than that. "Ethical Bullshit"! At least you've added to the vernacular. Unbelievable. (I needed someone to rip on.) And btw, if you read the post, I was warning the guys who went long to be careful, because there was some power on the other side.
Is BRKA clean????????? Should we spread rumors to force Buffet to come out to explain details about how they booked expenses for toilet papers? Rumors are toilet papers, and the person who speculate on toilet papers will get cancer.