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06:14 AM on 10/17/08 
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wrppdarndyrfngr
Ryan Adams > You
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Kansas City
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Because we finance quants need somewhere to be nerdy and talk about numbers
06:16 AM on 10/17/08 
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wrppdarndyrfngr
Ryan Adams > You
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Kansas City
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Buy American . I am by Warren Buffet

The financial world is a mess, both in the United States and abroad.

So ... I’ve been buying American stocks

Why?

A simple rule dictates my buying: Be fearful when others are greedy, and be greedy when others are fearful
06:48 AM on 10/17/08 
#3
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wrppdarndyrfngr
Ryan Adams > You
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Kansas City
Male - 28 Years Old
Some Finance & Econ Blogs :

Freakonomics
Get Rich Slowly
Greg Mankiw
I Will Teach You to Be Rich
NEws n Economics
Paul Krugman
The Icahn Report
WSJ.com: Real Time Economics
AllFinancialMatters
07:19 AM on 10/17/08 
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FScott
Amer I Can
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PA
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fuck this official thread baloney
07:26 AM on 10/17/08 
#5
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wrppdarndyrfngr
Ryan Adams > You
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Kansas City
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fuck you F Scott, the Great Gatsby is a terrible book

How do you feel about David Fincher turning your short story into a movie staring Brad Pitt aging backwards in time?
07:29 AM on 10/17/08 
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saysmydoctor
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Albany NY
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Ignore the racist and take back that comment about an american classic.
07:38 AM on 10/17/08 
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wrppdarndyrfngr
Ryan Adams > You
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Kansas City
Male - 28 Years Old
haha oh I know. its a good book. i was just trying to invoke a reaction.
12:47 PM on 10/17/08 
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FScott
Amer I Can
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haha oh I know. its a good book. i was just trying to invoke a reaction.

You failed.
01:18 PM on 10/17/08 
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Jason Tate
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Portland, OR
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Staff Member
Just posting to subscribe. Could be a fun topic.
10:35 PM on 10/18/08 
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Jason Tate
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Mint.com is a very cool personal finance website -- worth giving a shout out.
01:17 PM on 10/22/08 
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wrppdarndyrfngr
Ryan Adams > You
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The Organization of Petroleum Exporting Countries (OPEC) meets on Friday in Vienna. What are they fighting? An oil bear market, where prices fell to their lowest levels in over a year; the oil Czars are nervous.


From CNNMoney:
"When the Organization of Petroleum Exporting Countries meets at its Vienna headquarters on Friday it will be reminded of just how slippery oil prices can be, and how little control the cartel has over the price of oil.



Faced with a the possibility of a global recession and a sharp decline in energy demand, OPEC will discuss slashing oil production in an emergency meeting.


OPEC president Chakib Khelil, Algeria's oil minister, said there could be a "significant" reduction in the organization's daily output of 29 million barrels.


The organization considers the market to be oversupplied by two million barrels a day, but it has yet to agree on the size of the cut. This lack of agreement could hinder its efforts to control prices.


"Two million barrels a day is a very big number and it's not that easy to do," said Joseph Stanislaw, an energy expert and independent senior advisor at the consultancy Deloitte & Touche. "It's possible. It's doable. But the question is how long it takes them to agree."
And later in the article:
"Most [OPEC] members have planned massive infrastructure projects on the assumption that high oil prices will continue," wrote Anas Alhajji, chief economist for NGP Energy Capital Management, in an email to CNNMoney.com. "If they cut production in the current environment, revenues will decline and they might not be able to finish these projects."


One of OPEC's biggest hurdles as it tries to stem the fall in oil prices is getting all its members to agree to a plan and to stick to it, said Alhajji."
01:19 PM on 10/22/08 
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saysmydoctor
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Bet they wish Saudi Arabia was there to lead them.
11:56 AM on 10/23/08 
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wrppdarndyrfngr
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Kansas City
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According to conservatives, Freddie Mac and Fannie Mae’s audacity to loan to low-income Americans is to blame for the current financial crisis. During the final presidential debate, for example, Sen. John McCain (R-AZ) called the lending giants “the catalyst for this housing crisis.”
Today in a House Oversight Committee hearing with former Fed chairman Alan Greenspan, SEC chairman Christopher Cox, and former Treasury secretary John Snow, Rep. John Mica (R-FL) revived that argument. He also tried to tie the crisis to Sen. Barack Obama (D-IL), holding up a chart called “Follow the Money Trail.” He pointed that Obama has been the largest recipient of donations from Freddie and Fannie. (Actually, he’s the second highest.)
Committee chairman Henry Waxman (D-IL) chastised Mica for trying to turn the financial crisis into a political issue. He noted that Freddie and Fannie “certainly played a role” in the current situation, but then asked the witnesses, “Do any of you believe that they were the cause of this financial crisis?” All three men said no. Watch it:
Popout Federal housing data back up this conclusion — that “the private sector, not the government or government-backed companies, was behind the soaring subprime lending at the core of the crisis.” As Center for American Progress Senior Fellows Michael S. Barr and Gene Sperling explain, Freddie and Fannie weren’t even securitizing subprime mortgages en-masse until 2005:
The subprime boom was led by investment banks and mortgage brokers, not by government-sponsored enterprises. Fannie and Freddie became unhinged in the middle of this decade when they tried to play catch-up. Their shareholders and managers pushed them to recover the securitization market share they had lost to unregulated investment banks getting absurd AAA ratings for packaging subprime dross. From 2005 to 2008, Fannie Mae purchased or guaranteed $270 billion in loans to risky borrowers — triple the amount in all its earlier years combined.
As Center for Economic and Policy Research co-director Dean Baker has written, “Fannie and Freddie got into subprime junk and helped fuel the housing bubble, but they were trailing the irrational exuberance of the private sector. They lost market share in the years 2002-2007, as the volume of private issue mortgage backed securities exploded.” More here on “how did this happen.”
02:21 PM on 10/24/08 
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wrppdarndyrfngr
Ryan Adams > You
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Greenspan's Bubbles

PE ratio for S&P 500, from Shiller (10-year moving average of earnings, on right scale.) Real house prices from Case-Shiller, left scale.
02:39 PM on 10/24/08 
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saysmydoctor
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Albany NY
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Apparently, no one in the Bush Administration studied macroeconomics.



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