Friday, October 10
Unusual Suspects, end of day, Friday, October 10
I didn't know that Briefing.com had moved from California to Chicago.
(It happened years ago apparently.)
"'Costs were getting out of hand for a small business running on cash flow. There is clearly the talent in Chicago and you
can actually afford to buy a home here.' He added that: 'I got sick of the get rich quick mentality in Silicon Valley.'"
I believe they have about 30,000 subscribers who pay $10 a month for the service. I would think that they're enormously profitable,
but I may be underestimating their IT expenses. How many techies earning 150K a year do they need to keep things going?
You may remember the two excellent pieces on contrary indicators that Barry Ritholtz wrote for TheStreet.com a few years ago:
put out a 30-page report,
Contrary Indicators, 2000-2003 Bear Market
that I encourage you to check out.
Words and expressions I promise never to use at this site: "going forward," "catalyst," and "synergy."
Had an excellent yoga class this morning. "M" smiled and asked if I was sore from the last time, and I emphatically answered yes. Glutton for
punishment and all that. The results of my boy/girl count: 2 boys and 18 girls, my kind of ratio!
Everybody and his grandma is looking to get short below yesterday's Test of Top reversal bar, targeting the previous lows (1029, 1024, and
maybe even filling the gap at 1021). But of course since this play is so obvious we'll see how difficult it becomes to execute.
Alan Farnham asks Is Sex Necessary?
"The best that modern science can say for sexual abstinence is that it's harmless when practiced in moderation.
Having regular and enthusiastic sex, by contrast, confers a host of measurable physiological advantages, be you male or female."
An interesting story about a hacker who tried to cut his losses the old-fashioned way: by defrauding someone else. Apparently he
bought Cisco puts which were going to expire worthless, then used a stranger's brokerage account to buy back the options, thus cutting
his losses. Tricky but dumb!
Will Mr. Dinh have Net access from his jail cell?
"According to the filings, Mr. Dinh contacted members of an online stock pickers' forum offering a software program that he said
would help them with stock charts. The victim, of Westborough, Mass., accepted the offer and downloaded the software, which was
in fact a rogue program known as the Beast that allowed Mr. Dinh to monitor every keystroke typed on the target machine. Mr.
Dinh used the program to obtain the log-in and password for the investor's online brokerage account with TD Waterhouse." -- NYTimes
The Chairman teaches you yet again how to lose money with style and grace in the
latest Trading for Dummies Lesson. If you click on a Google ad
I get a nickel... I'm shooting for 50 cents by the end of the week! ;-)
Joe Mysak writes about the Schwarzenegger Relief Rally:
"The state's bonds, which had traded in the low 90s during the depths of the budget crisis back in July, have rebounded ...
The 5 percent bond due in 2033, callable in 2013 at par, traded at prices of 100 on Friday and this past Monday...."
Hugh Whelan expects a move away from speculative stocks:
"The ... rallies of the second and third quarters rewarded the riskiest stocks with the worst fundamentals ...
the smallest stocks with the lowest share prices, lowest earnings, and lowest cashflows saw returns almost twice as large
as the return on the overall market ... a rational market cannot indefinitely reward the stocks with the worst financial
attributes. Speculative periods, while intense, are historically short-lived...."
One-year Total Returns
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