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The Rebound: Numbers tell story of market recovery
And Citigroup? The bank that was hardest hit by the financial meltdown has seen its shares triple to $3.50.
Citigroup's meltdown could easily triple double to $7.00.
Strong. Resilient. Caloric. There's just no keeping this economy down!
Here are some other numbers that tell the market recovery story. They seem to be conveniently missing from the article though. Go figure.
Crude Oil Gains for Second Day on Speculation Demand Will Rise
March 8 (Bloomberg) -- Crude oil rose for a second day on speculation improving world demand and OPEC supply restrictions will help slow growth in stockpiles.
If we can get oil to $80 with actual ongoing job losses, then just imagine what the price of oil will be once the economy fully recovers.
MBA: Mortgage Applications Decreased in Weekly Survey
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From the MBA: Mortgage Applications Decrease in Latest MBA Weekly Survey
Mortgage applications decreased 2.7 percent from one week earlier,
according to da...
2 hours ago
11 comments:
I worked with Bruce Berkowitz for years in the '80s. HIis Fairholme fund has just bought into Citigroup. Bruce is the smartest guy I ever knew and richly deserves his success. Like anyone, he can always be wrong, but I wouldn't bet against him.
Stevie b.,
That's interesting, thanks for sharing.
Citigroup was a top holding of mine in 2004 at well over 10x its current price. The stock treated me very well over the years. That said, I feel fortunate to have sold it when I did and for apparently the right reason (credit bubble).
In hindsight, and if nothing else, $3.50 would be a much better entry point than $40+.
In 2007, I argued that buying COF (Capital One) at record low unemployment might not be such a great plan if unemployment returned to the mean. Now that unemployment is so high, this same thinking can work in reverse of course.
If only oil would behave. I'm just not a big fan of commodity driven stock markets. Too risky for my tastes, but what isn't these days?
"Too risky for my tastes, but what isn't these days?"
Well we know your answer to that one! But
to complement t-p, have you considered a wee stockpile of rice?
Stevie b.,
To nearly quote Dune...
We have rice sign even God hasn't seen!
I exaggerate for effect. We've got about 40 pounds.
We even buy bulk flour and make our own bread these days.
Trivia: Our bread maker uses 3 cents of electricity to make a loaf. I measured it.
Mark - I bake good bread in my Panasonic...good at least as far as the crust is concerned. I will insist on buggering about with the ingredients so much though, that the inside of my loaves leaves a lot to be desired. I think our power costs must be greater in the UK, and yesterday I started a domestic anti-salt crusade, so I don't quite know where that leaves me loaves-wise.
Mark,
you might have more room for food stocks and toilet paper if you had not done this to your basement to feed a dungeons and dragons obsession!:
http://www.acaeum.com/forum/viewtopic.php?t=8714
GYSC,
If you will recall, the investment that retired me was a check given to the president of the company in my friend's basement.
It was the basement we often played games in, on a table far more medieval looking and sturdier than the one in your pictures, with solid wooden chairs to match, lol.
Is that where Halo3 was invented, in a basement? Who knew?
Halo 3 was created in a basement!?!?
A MEDIEVAL THEMED BASEMENT!?!?
No s***, I never would have thought that, this is incredible.
Well gotta get going on over to the Halo forums, they are never going to believe this.
Truth can indeed be stranger than fiction my friend!
Please stop teasing me about Halo before someone gets hurt.
I'm picturing a Halo fan coming over to my house expecting to see an XBox and a medieval basement, only to feel rejected after seeing my Playstation 3 and a wimpy crawlspace.
What am I going to say when he pulls a cheap plastic bastard sword on me. ;)
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