mkreisel

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  • Citigroup's Derivatives Reduce Bailout to a Non-Event
    So far the only idiot in town who failed to hedge its derivatives properly is AIG. Big banks such as BAC, C, JPM, WFC all seem to have equal derivative assets as liabilities.

    Berkshire Hathaway also has about $10 billion worth of credit default swaps as pure liabilities, but Buffett has almost $30 billion in cash, and he got $4 billion premium for selling $10 billion of insurance in the first place.
    Jan 04 22:39 pm |Rating: +2 -4 |Link to Comment |View article
  • JPMorgan Chase: Poisoned by Bear's 5,000 Counterparties
    "It takes a thief to catch thieves"

    AIG seems to be the only idiot in town that has sold a bunch of CDS without any hedging whatsoever.

    Berkshire Hathaway also sold a few CDS, but they number only about $8 billion in notional value and Buffett got paid roughly $4 billion upfront.
    Dec 15 01:01 am |Rating: 0 0 |Link to Comment |View article
  • UBS Analyst: Citigroup Likely to Issue Common Equity By 2010
    Well, the Japanese didn't have to line up outside soup kitchens, and neither did they develop any crazy ideologies.
    Nov 25 20:57 pm |Rating: 0 0 |Link to Comment |View article
  • The New Bankers
    BRK has done these "Convertible Preferred" deals ever since GEICO's 1978 secondary offering.

    It later got more sweet convertible deals from Capital Cities, American Express, and Gillette.
    Jul 11 03:48 am |Rating: 0 0 |Link to Comment |View article
  • Time To Start Buying Some Dogs?
    Buy what retails are bashing and sell what they are chasing.

    They are always wrong, given 3-6 months time.
    Jun 29 00:07 am |Rating: 0 0 |Link to Comment |View article
  • Does Buy-and-Hold Work on Major Blue Chips?
    Before you whine about blue chip stocks going nowhere, you should first study how blue chips performed during the 1906-1921, the 1929-1949 and the 1966-1982 periods.

    And please don't forget dividends, PFE is paying more than 7% these days.
    Jun 11 01:31 am |Rating: 0 0 |Link to Comment |View article
  • Credit Cards: The Next Subprime?
    I exclusively use credit cards for my purchases, and I always pay my balances in full.

    Credit cards offer a convenient way to organize my bills, track my spendings, and a great protection from fraudulent merchants.

    If you shop online, credit cards is pretty much the ONLY way to buy anything. If you travel to foreign countries, Visa and Mastercard offer way BETTER exchange rates than those rip-off banks.

    It's actually far safer to make purchases with credit cards than with cash. They have become very good at detecting anomalies. Once I bought something in China, and I got a call from them a day later. Now if you give cash to the wrong person, it's gone forever.
    Jun 04 19:06 pm |Rating: 0 0 |Link to Comment |View article
  • These Stocks Are Attractive Amidst This Selloff
    Posco is a Korean integrated steel maker. If you get this simple basic fact wrong, that basically tells people what kind of "investment capitalist" you are.
    Jan 23 18:40 pm |Rating: 0 0 |Link to Comment |View article

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