Sino-Forest Goes Timber
Talk about getting crushed, Sino-Forest's stock was chopped down after a report released by Muddy Waters LLC - who are shorting the stock and doing quite while so far. The stock went from $18 to around $5 in a few days, down over 63% give or take. Just wow. What did the Muddy Waters report say, it called Sino-Forest a Ponzi scheme. The full report is here. Sino-Forest is a Chinese lumber and forest plantation company, basically they buy and sell forests in China. Buying Chinese stocks has always been a risky business, as too much is unknown and their rules Tagged chinese stocks, crushed, john paulson, sino-forestChuck Close: Is the Art Market More Corrupt Than Wall Street?
Artist Chuck Close says comparing art dealers to Wall Street crooks is unfair. Actually, he's blown away that people would make such a comparison. After all, he says, artists will work for free to help a company get back on its feet, you wouldn't see that at say Bear Stearns. Actually, you wouldn't see that because they'd have to go work for JP Morgan, which a lot of them probably did, but not for free of course. Mr. Close also said artists, women artists that is, would postpone having a baby so they can focus on their Tagged artists, chuck close, corruption, wall street
Amy Pohler Explains Oil Markets in Harvard Commencement Speech
From CNBC: Amy Pohler, of Saturday Night Live and Parks and Recreation fame, "attempts to explain the inexplicable—the speculators relationship between physical oil trading and the oils futures market. For a good laugh, check her out on YouTube.com — jump to 2:25 for the best market stuff or just sit back and enjoy the full experience." Here's the full Tagged amy pohler harvard commencement speech, oil marketsGoogle Invented Technology that Predicts Stock Market?
Google's Eric Schmidt, speaking at the D9 conference, apparently told a CNBC reporter that Google had created technology to predict the stock market. Of course this was a joke, but maybe not clear right off the bat to the CNBC reporter, at least that's what Henry Blodget tweeted below:
@hblodget Henry Blodget
CNBC reporter believed Eric Schmidt when he said Google had invented tech that predicts stock market. (Schmidt clarified: That was
Tagged cnbc, google, joke, stock market
Robert Wilmers: The Good Banker
Robert Wilmers of M&T Bank (MTB) doesn't like what the banking profession has turned into and where it's headed at many banks, especially the big ones that are so called 'too big to fail' banks. And, he might be hated, or rather his profession, as much those employed as IRS agents and parking enforcement officers. In person, Wilmers does not immediately strike one as a rabble-rouser. At 77, he is soft-spoken, a bit reticent, and almost excessively polite. “I personally believe that there isn’t a more honorable profession than the banking industry,” he began. “Most bankers are very involved Tagged robert wilmers
David Tepper Bets on Home Builders, Should You
Reuters Pictures David Tepper, the legendary Appaloosa Management hedge fund guru, has made a big bet on home builders, just when these stocks are perhaps most hated. He did the same with the bank stocks bank in 2009, at the nadir of the collapse of the stock market, which turned out to be an ingenious investment. Buying stocks that are hated is something that Warren Buffett favors as well. It does take some guts though to step in and buy the home builders, especially when they are now talking of a double dip in the housing market. Tepper bought these Tagged david tepper, home builders, paid to wait
MultiCell Soars, Gets Stem Cell Liver Patent
Update: Now MultiCell (MCET) is over 2 cents a share, sitting at .0216 as I write this. The stock is now up over 367% today. Never heard of MultiCell (MCET)? Neither had we, but when a stock, even a penny stock like MultiCell, screams up by over 300%, it's worth looking into. What's crazy though, is this stock isn't even worth 2 cents. Yeah, this stock sits at .0185. Crazy huh? Here are the details from Reuters:MultiCell Technologies, Inc. announced the issuance of U.S. patent 7,935,528 by the United States Patent and Trademark Office (USPTO) relating to the isolationTagged mcet, multicell, penny stock, stem cell, winners
Nokia Shares Crushed
Nokia, citing “competitive dynamics and market trends across multiple price categories, particularly in China and Europe", is getting crushed this morning. The stock was down over 15% and hitting a low new 52 week low of 6.79. It has since bounced off this low, and is back over $7, but, as they say, the trend is DOWN for this stock. Reuters Pictures That’s left Nokia selling mostly cheaper phones. It’s inked a partnership with Microsoft to sell Windows-powered phones, but those devices aren’t due to ship until the fourth quarter. The company said second-quarter devices and services sales will be Tagged cell phones, crushed, nokia
How to Short a Stock
Sometimes the shorting of stocks can be a little confusing, here's an excellent explanation from the Khan Academy. After viewing the video, you can take this new knowledge, or refresher, and go and short a stock like LinkedIn (LNKD). This stock of course had a huge run up after their IPO, and is ripe for a short. This is now close to a $10 billion dollar company that makes all of their money off of referrals and advertising, just seems far fetched that they can maintain their $90 stock Tagged shorting stocksSteve Cortes Just Said Apple Is Not Being Innovative
Steve Cortes, of CNBC's Fast Money fame, has made quite a statement today, saying Apple is not being innovative. That's like saying the sun isn't being very sunny. It's almost like he's saying this to get some attention. How can you say the creator of the iPod, iTunes, iPhone, iPad, Apple TV and soon to be music in the could, this company is not being innovative? Was he making a joke? Here's what he said on CNBC's Fast Money halftime show, the context being Google's announcement of Google wallet and Google Offers. The first allowing consumers to payRecent Posts
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