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Subscriber question regarding my earlier post about LPS’ continued problems and cited MERS as the source of those problems: “What is the relationship of MERS to LPS?” Answer: LPS runs MERS and is essentially in charge of servicing the mortgages in it.
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You just can’t make this stuff up. I just got spammed from….S&P! These idiots owned by a old-school publishing company, McGraw-Hill. In fact, I’ve worked on shorting these ratings companies, as I’ve noted in the past in my newsletters, because they are complicit and
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Like most traders today, most of the profits on our sheets today come from our shortside bets. Things continue to heat up for LPS, which is now down about $4 per share in the last couple weeks. I expect to stay short LPS for a long time as I expect
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Allow me to reprint much of the meat from the actual report and you’ll probably laugh that anybody would care what these idiots at S&P have to say about anything:
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There won’t be a bell rung to let you know when the sell off has played itself out. Again, I don’t expect we’ll see much if any lift intraday today…and tomorrow will be a new day that we’ll evaluate when it gets here. More importantly,
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S&P negative on U.S. debt Standard & Poor’s cuts its ratings outlook on the U.S. to negative from stable, keeping its Triple-A rating on the world’s largest economy. Stocks decline even as Treasury Department mounts defense. • Text of S&P’s downgrade of
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And as we close out the week, I don’t expect I’ll be doing any more trades other than having doubled my Google long position, using only common stock in that one so far. I’m flying out to Dallas to be a “celebrity” waiter at a charity event
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I really am buying some real estate here in NM. Here’s my recent real estate asset class write up from the 20 Trades to Save Your Portfolio in 2011 report: Real estate The single biggest concern about real estate is that the robo-signing/mortgage fraud and all the other
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Another day at the casino, and the markets are trying to crawl higher despite the ugly reaction to a decent fundamental Google report. Google’s down 6% on the day and having a hard time stabilizing, despite my theory last night that we’d likely see it trade to flat
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Remember — it’s not the news that matters, but the market’s reaction to the news that matters. Google reports… Topline at $6.54 billion is about 5% better than consensus. Bottomline at $8.08 per share is inline versus the $8.10 consensus. The media will call it a
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The only trigger I pulled today was putting a down payment on some acreage here in my hometown of Ruidoso. No stock trades, which is no surprise given my wanting to get through earnings season before doing much more stock/option trading for now. Here comes Google. Buckle up!
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I’m republishing this for the email subscribers so you can tell where Marcin’s comments stop and mine start (look for the =====) One of my Wall Street mentors wrote the following today: Not the equity bulls. They had their head chopped off in 2008-2009. Even after a historic rally,
