More Millionaires were created these past few months by Billionaires losing everything on MARGIN!!!! Yep works well on the way up, but back down is a bitch....ehh? CEO of Chesapeake Energy- CHK was forced to sell most if not all of his 33,000,000 shares of CHK to meet MARGIN calls . Rumor, of T Boone Pickens Hedge funds blew up. Tontine Associates, Jeffery Gendell's $10 billion HF down over -65% this year thru Sept 30. :eek:
Obviously some of these guys are totally finished and the investors are going to go after there assets
we will all be millionaires when the crank up the printing presses to keep the engine running at all costs. Then in 10 years they will lop a few zeroes off our currency and call it the new dollar or something like that
Boone Pickens new book was very good reading. Might want to pick it up - or Spend $2.00 at the nearby Starbucks and read it in passing at the local bookstore. In it you'll see what it takes to keep your eye on the prize.
Nope, with the drying out of credit, all deals will have to be done in cash. There will be a SIGNIFICANT demand for dollars in order to get deals done. The dollar is a great asset to be in right now.