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Wall Street Breakfast: Must-Know Newsby SA Editor Rachael Granby- Bank trio becomes duo. Wells Fargo (WFC) will become the largest U.S. bank by branches with its bid for Wachovia (WB), after Citigroup (C) withdrew from compromise negotiations late yesterday on concerns about the quality of some of Wachovia's assets. Wells Fargo, with a bid valued at $11.4B, expects the purchase to be completed by the end of the year, and denies it will have to absorb assets shakier than originally thought.
- Government considers next steps. As the financial crisis continues to worsen, the U.S. government is considering two dramatic steps to turn around, or at least slow, the damage: guaranteeing billions of dollars in bank debt and temporarily insuring all U.S. bank deposits. The moves, which would mark the government's most extensive intervention to date, are in discussion stages only.
- Credit stays frozen. As frozen credit markets refuse to thaw, the cost of default protection on corporate bonds reaches new global records amid investor concerns the credit crisis will trigger corporate failures as companies struggle to finance their businesses. Interbank lending remains limited, and borrowing from the Fed's expanded discount window continued its trend of setting new highs every week, as the total daily average rose to $420.2B vs. $367.8B last week.
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- An Outcry from Emerging and Developed Markets Alike by Jonathan O'Shaughnessy
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Oil Price- Oil Below $75: Increased Chance of OPEC Production Cuts by Money Morning
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Long Ideas- Utilities Beginning to Generate Interest for Longs by Joe Kunkle
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Short Ideas- Why Short Sellers Are the Heroes of Wall Street by Investment U
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- Jim Cramer's Picks -SampleBetter Choices - Cramer's Lightning Round (10/15/08)by SA Editor Rachael GranbyStocks discussed in the lightning round session of Jim Cramers Mad Money TV program,
Wednesday, October 15.Bullish Calls:Continental Resources (CLR) -- "This is a remarkable decline. All of the high quality ones are down so much, I can't go against it. This is where you pull the trigger.
3M (MMM) -- The moment this stock starts yielding 5%, I'm a buyer. Until then, keep your powder dry.Bearish Calls:Computer Sciences (CSC) -- This is a company that was going to be bought, but they passed up the chance. Now I don't want to buy it."Email continues...
Annaly Mortgage (NLY) -- I think this is a business model that needs to borrow money. Definitively do not buy."
Northrop Grumman (NOC) -- You can't own the defense stocks right now. If I had to own one, I'd look at Lockheed Martin (LMT) with its good dividend. - Stocks & Sectors -SampleSeeking Alpha - Stocks & SectorsInternet
- eBay: Q3 Looks Good but Q4 Guidance Disappoints by Greg Feirman
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Media- A Triple Financial Whammy Afflicts Newspapers by Ken Doctor
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Telecom- Ten Ways to Invest in Louisiana by Stockerblog
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Financial- Switzerland Strengthens Its Banks; Short Interest Remains Low by Jessica Johnson
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- An Outcry from Emerging and Developed Markets Alike by Jonathan O'Shaughnessy
- USANA Health Sciences Inc. Q3 2008 Earnings Call Transcript
- Perfect World Announces Share Repurchase Program by Trader Mark
- China: Hot Money Inflows Down, Nervousness Up by Michael Pettis
India- Indian Economy Has Much to Cheer About by Equitymaster
- India: RBI Cuts Cash Reserve Ratio by Equitymaster
- India: Markets Continue Downward by Equitymaster
Japan- Sanyo Enters Thin-Film Market, Goes Up Against Sharp by Greentech Media
Asia- Four International Dividend Stocks to Watch by David Hunkar
Eastern Europe- Reality Bites As Stocks Continue To Collapse by The Mole
- Alternative Energy Investing -SampleSeeking Alpha - Alternative EnergyAlternative Energy
- Seven Stocks for an Impending Apocalypse by H.J. Huneycutt
- Solar Shares Under Pressure From Credit Crunch and Pricing by Eric Savitz
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- The Electric Car Market: Wise Energy Use Stocks by Tom Konrad
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- Too Early To Buy Homebuilders ETF by Larry MacDonald
- Utilities Beginning to Generate Interest for Longs by Joe Kunkle
- Two Global Infrastructure Investment Opportunities in ETFs by Investment U
New ETFs- First Trust Launches Infrastructure ETF with Global Reach by Index Universe
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Emerging Market ETFs- Brazil Is the Best of BRIC by Carl T. Delfeld
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US Market- An Outcry from Emerging and Developed Markets Alike by Jonathan O'Shaughnessy
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Housing & Real Estate- Too Early To Buy Homebuilders ETF by Larry MacDonald
- Another 'Root Cause' That Isn't: Tumbling Home Prices by Tim Iacono
Transcripts- TrueBlue, Inc. Q3 2008 Earnings Call Transcript
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ETF- Too Early To Buy Homebuilders ETF by Larry MacDonald
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Latest Comments257 Comments
So Much for Stability: The Euro Cash Flood
Cramer: Dow Could Drop Another 14%, Oil's Going to $50
He lies. Period. He signs every law with a little disclaimer saying he can disobey the law anytime he wants because he is President (Paraphrased, but he does actually do this). He has locked up AMERICAN CITIZENS with no trial for 6 years in SOLITARY CONFINEMENT - and they went crazy. Great. No chance there to see if they were actually guilty of anything. I think you would think different if somehow YOU were the one he locked up.
He doesn't believe in torture. However, he won't define torture for you, so torture is defined only in the air between his ears. Makes it awfully convenient, huh? The guy has an IQ of MAYBE 105. He has been led around like a puppy on a leash by the real powers that be. He was perfect for that...make him think it was his idea and he will stick to it until the end of the world comes.
As far as taxing goes...Guess what? I'm middle class and I will pay less in taxes under Obama. McCain promotes a $5000 tax credit for healthcare. Guess what type of Healthcare you are going to get for $5000? Not much. I like my employer plan just fine. McCains $5000 is sure to be like the $5000 deduction for childcare...it was a nice number 8 years ago, but childcare has literally doubled in 8 years, and that number as remained the same. So, the $5000 tax credit for healthcare will effectively be worth half that in just a few years.
I'm also tired of inaction by all of the government on Social Security. We are like the proverbial frog in the pot letting the water get hotter and hotter. Someone - and a democrat with a democratic congress is the only one that could possible do this - is going to have to step up and CHANGE the system. Yes, some will pay more, work longer and get less, but as it is now the system is simply a non-starter.
So, you can proselytize for the Republicans or Libertarians all you want (Personally, I think of myself as both of those), but the truth is that those groups can get nothing real done and we need a mandate going into 2009. Obama is the only hope of a President with a mandate, so deal with it, as it is a done deal.
Crazy P/E Ratios
MLPs Still Attractive After Recent Selloff
Short Selling Ban Sends Chills Through Options Market
Cramer: Dow Could Drop Another 14%, Oil's Going to $50
And you can quit debating McCain vs. Obama, because Obama has it in the bag at this point, given the economic situation. Iraq + Palin + Economic Calamity is the perfect storm for the Republicans.
And yeah, I'm a Republican, but I'm also tired of having my rights revoked by lies, my President lieing to his country, and my money disappearing.
Mexico: One of the Safest Places to Invest Right Now
Munis in the Crosshairs
Buffett's GE Warrants Quickly Trade Out of the Money
Real Estate Lending Growth, 2003-2008
Interestingly to me, the chart shows that lending hasn't really dropped off, just stopped going up.
IT Industry May Slump Until 2010
Speculating on the Future
Yes, the end game is higher rates, but they will be higher everywhere, not just here.
Time Not for a Bailout, But for Nationalization
The guy won't even live to see the ramifications of 10% of his decision, and that is assuming he manages to live out a full term and not leave us stuck with the hillbilly soccermom he chose as a running mate.
I was considering voting for him until he made that running mate choice. If that is the type of decision he makes under pressure, I think we all know who we should elect.
McCain ETFs: What If the 'Maverick' Pulls It Off?
When It Rains, It Pours
Please, keep your pedestrian, partisan crap in yoru head where it belongs.