Professor Elam
Accounting & Investing Info for San Antonio A & M
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Category: Financial Acct
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Idols really do have clay feet. If you are wondering where Paulson got the request ofr $700M, well they made it up as it now comes to light. Do not assume that leaders, just because someone gave them the title know what they are doing. As Indiana Jones famously remarked, I dunno I am making…
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A sign of a top in valuations is investor frustration with low yields. Indeed, bonds are less than 4%, Tsys anyway, and the banks, well you will spend more on gas than you will make on the depost. Here are some preferreds from this weekend's Barrons article Bankof America 8.8% see my earlier post on…
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Monday Dec 7 2009 Five days ago Dec 2 we showed the deteriorating breadth, fewer and fewer stocks participating in the rally, we suggested then that the fally was long in tooth and that lower prices lay ahead. Well that was clear and now those short the Dollar to buy leveraged assets elsewhere, like gold,…
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At left on Friday the dollar in center rallied. This reflects the practice of borrowing dollars at zero interest cost courtesy of Mr. Bernake. Then take the money and speculate on oil at top or gold at bottom. One can see that both those were sold to finance covering or buying back the dollar short.…
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Mish reports on Dec 3 that AZ is now tapped out in two weeks on a large credit line. Now what? As any student of govt accounting knows, inter fund transfers! Mish points out that this is rather like check kiting, borrowing from peter to pay paul hoping that Suzie will pay us so we…
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It's a Little Too Late to do the Right Thing Now Song lyrics, Tanya Tucker And that describes the usual late to the party debt downgrade from the rating agencies. New York City was Baa the day it defaulted. It was clear that Dubai was in over its head as the e mails circulated showing…
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This is interesting, CITI loaned Dubai $8 B last December 2008, after CITI received the TARP money. I guess things were not as difficult as we thought at the time. Dubai is that mid East city with the indoor ski slope, the Palm Island, and ahem, no oil. Can Mumbai and Shanghai be far behind?
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I admit to be fascinated by as Jimmy Buffet says, the Bamboo Steamer. He wrote that song as tribute to all the cable tv junk that gets sold on the weekends. Surely we could think of the next great Billy Mays or Ron Popeii cut the wine bottle to make a glass pasta maker or…
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I was going to start with Mark Pittman the financial journalist who called the sub prime mortgage crisis what it was, American Casino. Please read about Mark and then the next article caught me eye with this comment. This is still a derivatively challenged system, oversexed, overlevered, and unfortunately over here. If it turns out…
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Al recent quizzes and homework on line have deadlines set to December 6 at an indicated 11 PM EST which is 10 PM our Central Standard Time. Having re set ALL the recent assignments there will be no more resets or extensions. If your computer is planning to crash at 9:59 PM Dec 6, I…
Professor Elam 