Professor Elam
Accounting & Investing Info for San Antonio A & M
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Category: Markets
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A Rolling Stone article takes a look at the more cozy than you would imagine deals already cut to keep zombie banks alive. Warning, extensive use of graphic language, you may find yourself using same as you read the article. Also a good look at how derivatives came to be front and center.
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Friday Dec 11 2009 The 30 year T Bond auction did not go well this week, buyers are now under water no their purchases as the price of the bonds has declined as rates have risen. Buyers are demanding more and more yield to stomach the huge supply coming to market. Granted the late…
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Many are noting that the Dow is trading where it was ten years ago, let's take a look. BAck then the Dow topped in December 1999, just as it has ten years later. It then made a series of lower highs styaing in a trend channel for a year and nine months. THere were three…
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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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Monday Dec 7, 2009 Pearl Harbor Anniversary Day Sorry I just couldn't resist the double meaning! Merrill officials got Bank of America to agree to all the Merrill Bull symbol back on their business cards. It has been used since 1974. One recalls that 1974 as the bottom of the bear in terms of absolute…
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Gold dropped about $54 in Friday trading, more than that intra day. What would be a reasonable support level for this the only bull market around? Fibonacci re tracements suggest $1,000 as a first level. The last breakout was above $1,000, it failed twice and took a full two years to get over the…
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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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The FED Report Card Ben Bernake as I write is playing out his part in the latest installment of the Theater of the Absurd. Ron Paul has introduced a bill to audit the FED. Initially Barney Frank was on board forhte audit but of course has been brought back on the reservation by Chief Bernake.…
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A former managing partner at Morgan remarks on the tend of Goldman partners buying pistols. I distributed the article about Goldman in class written by Bob Prechter's EWT group. Gee look like he called that one right. As the public mood sours on Wall Street, they will look for the villains behind the curtain, With…
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