Don't get me wrong, I love Jim Cramer, his mad passion for stocks is contagious. And his book, 'Confessions of a Street Addict,' is superb and inspiring. However, you've got to be very careful when listening to his mad stock calls.
In a way he's forced to make calls, as he's on TV so much and that's what he's paid to do. Yes, he's bound to be wrong since he's making picks every single day, but sometimes his caffeinated exuberance gets the better of him. Here's his call to buy shares of Netflix at $135, which is proving to be
Michael Moore was on CNBC today and said he doesn't own stocks, saying Wall Street is a "rigged casino
." In fact, he said he's never owned stocks ever. I was just hoping Moore would have come up with a better metaphor than rigged casino. It's an old one that we've all heard. I was hoping for something more clever and new.
The truth is though, Michael Moore makes a lot of excellent points and should be heard from more often. Hopefully he'll take off the hat and don a suit and show up on the set of CNBC one of these
Somehow I just don't think this will last too long for Bernie Madoff. I just don't think prison is going to treat him so nicely as the years go by. And I think he's probably wishing prison was like this or at the very least exaggerating. Perhaps what's happening is Madoff is on a high dose of medication and or has going senile. I'm guessing as his 150-year prison sentence reaches say year 10 or 20 hearing Uncle Bernie in the prison yard will get old.
And when the quotes below make it out across the web, and especially to the
Stephen Schwarzman of the Black Stone Group delivered the keynote speech at the Alfred E. Smith Memorial Foundation Dinner, an annual Catholic charity fund-raiser named in honor of the former governor of New York. By tradition, the keynote speaker of the 66-year-old event is supposed to deliver a mostly humorous speech. Schwarzman does just that with a zinger of a joke aimed at Bank of America's CEO Brian Moynihan. It was all in good fun though.
“Brian Moynihan is here tonight. He’s the C.E.O. of Bank of America. As many of you know, Brian’s brother Patrick runs a Catholic boarding school
The bankers crash the Occupy Wall Street protest with their own clever signs!
Ever wonder how the Najarian brothers, Jon and Pete, get around when they're in New York City? Well, it seems they have some kind of rolling office, so they don't miss a trading opportunity when they're trying to get to CNBC so they can appear on Fast Money or the Fast Money Halftime Report.
Looks quite nice don't you think. Apparently, those laptops are all Apple Macs. If call volume starts to spike in say shares of Akamai, on the rumor that Google wants to buy the company, while the brothers are in route, no need to fear, the Najarian
Damn, if you were a Level 3 Communications share holder and woke up this morning and looked at the stock (LVLT), you might have thought you'd struck it rich. The stock is up over 1,394.19%, going from around a dollar and a half the day before to $23 and change.
However, unfortunately, nobody paid a premium for the company and bought them out, they just did a 1 for 15 reverse split. Sorry to be the bearer of the bad news. But things aren't all bad. Now that Level 3 trades over $5 a share, and is not near penny
Alec Baldwin swooped down to Occupy Wall Street the other night, money falling out of his pockets as he touched down into the camp, his cap flying in the wind. He ripped off his shirt and had a large money symbol ($) shaved out of his chest hair. He's not doing 30 Rock or acting anymore he said. He's turned to a greater good. He's turned into a super hero: The Defender of Capitalism. Of course his body guard was with him though.
"You have to have capital markets in this country," Baldwin said. "You can't not have strong capital markets
Well, I guess Herman Cain is OK with big banks who were bailout paying out big bonuses. Don't get how that's fair though.
"Republican presidential contender Herman Cain amplified his criticism Sunday of the growing Occupy Wall Street movement, calling the protesters 'jealous' Americans who 'play the victim card' and want to 'take somebody else's' Cadillac." (LA
Hedge fund guru Ray Dalio of Bridgewater Associates appeared on Charlie Rose lasted night. You can watch the full interview at Charlie Rose's website
has a nice run down of the interview:
Mr. Dalio defended Bridgewater’s culture, which emphasizes radical honesty and encourages employees to criticize each other, by saying that it was “exactly the opposite of a cult.” He said that the firm’s culture of institutionalized bickering actually made it more productive.
“If people who are disagreeing can say, ‘Why do we disagree?’ and work through that conversation in an intelligent way to try to find