Here is a video just out from DonHarrold.net, discussing the Fed's manipulation of our currency to favor the big Wall Street insiders, while screwing the average stock investor. If you have any money on Wall Street's rigged Monopoly game, you need to see how the game is really being played. Don Harold Writes, "I ask again, "When will CNBC do the right thing and get rid of Jim Cramer?" Jim's advice on Bear Stearns (NYSE:BSC) is is most horrific since, well, since the dot-com disasters he shuffled folks into. Look, it's just getting too easy to point this stuff out. But, hold on, my video here is 10 minutes of other stuff too. Jim's just a symptom of a larger problem. Our founding fathers would be ashamed of how we've handed our economy to the federal reserve." Please watch the video Bear Stearns, Jim Cramer, The Federal Reserve, JP Morgan http://www.youtube.com/watch?v=4sZCNlPwG8o Its an eye opener. Just watch it...
Nobody should be using Jim Cramer for stock advice. While he was still an active hedge fund trader, he was essentially a pump-and-dumper, which is not the kind of thing the average investor should be doing with their own money. The advice he gives on the show is still typically geared towards the short term, sometimes the very short term. Anyone who would tell you to buy a stock one week and sell it the next needs to stop giving investing advice. I'd even take the advice of the Fast Money guys before I'd listen to Cramer. At least they know they aren't long term investment strategists.
There are alot richer investors who dumped in millions before the bear sterns bail out. No one knew about it I don't know how you could blame anyone who said to stick with them
The smart money has been shorting financials. For months now. Level 3 Accounting friend. You're not a smart investor if you are following the crowd and not looking at fundamentals.
Level 3 assets are marked to the managements "coke-induced fantasies". Shorting financials is the thing to do My LEH puts have gained over 15% these last two days. These financial firms have posted "gains" in earnings last quarter and the previous ones. You know how? Investors think they will go bankrupt and they are making it look like they are making gains off of this. People too often look at the Income Statement and over look the Balance Sheet. When it comes to financial institutions it is basic knowledge that the Income Statement shows the past while the Balance Sheet looks into the future. LEH's future is full of "pain".
what made JP morgan revise it's price it's paying for acquiring bear stearns from 2 bucks to 10 bucks, stock rallied 88% in a single day......perfect case for insider trading
I believe this was being speculated. Everyone knows JP morgan is buying the bank for pennies on a dollar, and there would be a price revision after people panic and sell off their shares...