News today that Goldman Sachs is going to shed US$1.33 billion from its stock holdings for the quarter ending Feb 29, 2008. Goldman Sachs, the crown jewel of the Wall Street has successfully foreseen the subprime debt debacle and handsomely profited from the debt crisis. The only investment bank that has not been hit by [...]
Archive for January, 2008
Banks Lost Their Magic
January 29, 2008Something You Never Know
January 27, 2008I am very excited every time I hear any news about UFO. When I was a kid, it was one of my fascinations. Like a lot of people, I hope we would figure out what it is about. However, as time passes by, I give up that hope.
In the past several weeks, there are reports [...]
Who is Saying What about the Fed Rate Cut?
January 25, 2008I have been reading comments on the Federal Reserve’s 75 bps emergency rate cut on Jan 21st. Some people agreed with the Fed’s move, saying it is the right move to avert the deterioration of economic slowdown. Some people do not think that the Fed’s rate cut is appropriate, believing it is a panic reaction [...]
To Those Operating UFOs: Please Stop Harassing Us
January 24, 2008To those operating UFOs, I know you are there. I know you are watching us. And in fact, I know that you know we saw you on TV, on YouTube (one of our most recent human inventions in case you haven’t checked out-just click here).
But, please stop harassing us. Would you? As if our planet [...]
George Soros in the Making
January 21, 2008A quick search on news showed nothing particular interesting today except the market collapsed around the globe. And nothing about the market drop is really new except one piece saying George Soros saying the market is destined for the trouble in the coming days and weeks. I find it interesting as this man experienced a [...]
The Stock Market: I Shall Return (Again)
January 19, 2008This article “Burned but Bullish at Citigroup“, which is on tomorrow’s New York Times, touches some similar ideas as in my previous blog. The chief economist of Citigroup takes the same example of how the market staged the comeback after a precipitous drop in 2001 and 2002. Not sure how many people will agree with [...]
The Stock Market: I Shall Return
January 18, 2008In case you wonder what is going on in the stock market lately, you would find plenty of reasons why it has been in a free fall: the deflated housing market, banks’ outlandish losses, the waning consumer spending, and the “R” word that started to hit every investor’s mind-whether it is already happening or not.
One [...]
Pat vs. Chargers
January 17, 2008Ok, I am late on this plate. But this Saturday’s game between New England’s Patriots vs. San Diego’s Chargers will be the one (hopefully the only one needed) to send Pat to Super Bowl. The game will be broadcasted live across North America and rebroadcasted in many parts of Asia as well. I believe that [...]
New York, New York
January 15, 2008No place compares to New York City in the financial world. Even at the height of the real estate breakdown in many parts of the United States, Manhattan’s real estate price is rock solid, at least for now. At the time when all these financial giants take tens of billions of losses in a span [...]
The way out of this mess
January 11, 2008The financial crisis in the US has spread out to the other sectors of the economy. The collateral damage of this crisis is, inevitably, the consumer spending contraction. The fallout of consumer spending (another shoe drop?) will have a wider impact on the economic slowdown than the financial crisis does.
The Federal Reserve has to lower [...]
