This is a Bloomberg chart of the Euro since its beginnings. I had to make it smaller to fit this space. If you would like to see the chart in its full glory, click here.
This is the easiest way to play this. Short FXE.
That’s it. Maybe the Europeans will pull a rabbit out of their hats. Most likely they won’t. I’m still long the XLF, but just a little.
Cash is king in this ridiculous market where European macroeconomics mean everything and local corporate earnings mean little.
Harry Newton who marvels at the great lawyers Corzine hired. The operative word was “intent.”
“So did I steal all the customer’s money? It was not my intent.” etc. etc.
Brilliant.
Of course, he did sign all the Sarbannes-Oxley paperwork attesting to the truthfulness of his company’s financial accounts.
It was my intent today to write a long insightful and funny column. But I ran out of insightfuls and funnies. Meantime, if you didn’t read these two brilliant pieces from Vanity Fair yesterday, please read them this weekend:
The Book of Jobs. Click here.
One Nation Under Arms. Click here.
I am leaving for a cruise almost screaming ……Don't know what to think anymore…..First it was bad— the bad investment brokers—-Then the real estate investments– very very bad — then Auction rate securities verry very very bad ( 2 years) Now my IRAs are with MF global…..Very very bad even worse……..IF you think I am making this stuff up think twice……..Im so good at losing money I don't even have to invest it to lose!!!!!!!!!!!!!!!!!!!!!!!!!!!
Writing a column every day is hard work!
We can forgive you, but NOT Corzine.
Thank you. I agree about Corzine. I wonder if they have the guts to go after him.
Well, you had good intentions. You are a victum of Fridayitus. Corzine reminded me of the Tammy Faye Baker defense ,”I don't know where the money comes from, I just spend it. There's always money “
By way of explanation: It takes a long long time to write a column of the complexity and newsiness of yesterday's, for example. There are some days that I'm caught up in doing things that don't produce the ideas. Yesterday I spent much time studying new startups and visiting hedge funds.
Was looking forward to more out of you today Harry.
Have a nice weekend.
So was I. So was I.
Lol! That happens in blogging ;p