Nassim Taleb on Banks & Occupy Wall Street

Oct 19, 2011
J. Webster
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Nassim Taleb, author of "The Black Swan" and a New York University professor, discusses the "Occupy Wall Street" protest and his view of the global banking system. Taleb, speaking with Erik Schatzker on Bloomberg Television's "InsideTrack," also discusses the need to apply the principles of "Hammurabi's Code" to the banking system. The big worthy for Taleb is it might be too late and the protests could lead to out and out class warfare.   This report is an excerpt. (Source:

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Agnico-Eagle Down over 18%, Forced to Close Mine

Oct 19, 2011
J. Webster
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If you woke up today and were wondering why in the world gold miner Agnico-Eagle, a once Cramer loved gold stock, was down over 18%, well it's because they were forced to just down a mine and write off $260 million. Yes, as many say, that's the risk with owning gold mining stocks rather than the physical or actual gold.
TORONTO, Oct. 19, 2011 /CNW/ - Agnico-Eagle Mines Limited ("Agnico-Eagle" or the "Company") announced today that it is suspending mining operations and gold production at its Goldex mine in Val d'Or, Quebec effective immediately. This decision follows the receipt of

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How Much Cash Does Apple Have?

Oct 18, 2011
J. Webster
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$81.6 billion. That works out to about $88 in cash per share. That it all you really need to know. Yes it is an incredible pile of money. Scrooge McDuck swimming in a bank vault kind of money. But the question now becomes what does new CEO Tim Cook and Apple do with all the cash. And, with most of the cash held overseas, will Apple get a tax break and bring all the cash back to the United States:
With the company’s cash reserves growing as fast as they are, it opens numerous possibilities for acquisitions. For comparison, Google’s

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Who is ZeroHedge?

Oct 18, 2011
J. Webster
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The most interesting financial blogger on the web just happens to be anonymous and go by the name of Tyler Durden. Yes, that's the name of Brad Pitt's character in the movie Fight Club. The blog is called ZeroHedge, and a Mr. Durden posts throughout the day, smashing rumors and bashing the talking heads on TV who think they know what they're talking about. And that's really what blogs are all about and what they're supposed to do - shining a spotlight on lies and bringing the truth out of the dark. If you are trading stocks,

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Quote: Oliver Stone Tells Jamie Dimon to Sleep on Park Bench

Oct 18, 2011
J. Webster
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“Jamie Dimon should be spending three weeks on a park bench, homeless, and get a taste of what it’s like on the other side,” Mr. Stone said of JPMorgan Chase’s chief executive. “Might knock out some of the arrogance out of those guys.” (

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Crocs Cuts Guidance, Stock Down 35% After Hours

Oct 17, 2011
J. Webster
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Traders didn't like what they heard from Crocs after hours, as they've taken the stock (CROX) down 35%, from nearly $27 a share to $17. Ouch. Crocs doesn't report this quarters earnings until October 27th, I guess they didn't want to wait until then to drop the bad news. Why did they cut guidance? Headwinds in Europe and a decrease in sales at mall kiosks and outlets. However, they will have those new Crocs for kids, the ones that change color in the sun. I guess this is a hit with the kids. Still, this ain't going to save them.
Crocs,

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Fat Cats on Wall Street

Oct 17, 2011
J. Webster
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Fat Cat feels nothing. Doesn't matter what's going on behind him or who's protesting. As a matter a fact, fat cats love protests, it's like catnip. Anyways, fat cat has piles of money in the bank and enough cat food for years. Yeah, he's going to stay fat and doesn't care what you think. Source: Fat Cats On Wall

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Green Mountain Coffee Down Over 10% After David Einhorn Goes Short

Oct 17, 2011
J. Webster
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It's probably a big mistake not to talk to David Einhorn if he wants to speak to you. Einhorn, of Green Light Capital, said Green Mountain coffee (GMCR) declined to speak to him citing a quiet period. Sure, this might be true, but you don't want to upset Mr. Einhorn. He's the type of person to dig deep enough to find something that doesn't look good. And he's not afraid to hang on either, until his investing thesis comes true. Even worse, he might just write a book about it afterwards. Basically, if he's taken the time to make a

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Kyle Bass Discussing Greece Default

Oct 16, 2011
J. Webster
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The now famous Kyle Bass, based mainly upon him being featured in Michael Lewis's new book Boomerang, talks about Greece and Europe on CNBC's strategy sessions. Bass lays out what's likely next for Greece and the steps the European Union is going to take to attempt to solve the global debt crisis. Bass, the Hayman Capital Management managing partner, sits down with David Faber at the Barefoot Economic Summit. The kicker: The global credit market debt — sovereign debt, consumer debt and corporate debt — from 2002 to 2011, has gone from $80 trillion to $200 trillion, Bass stressed.

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Saturday Night Live Mocks Mayor Bloomberg Over Occupy Wall Street

Oct 16, 2011
J. Webster
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Fred Armisen plays New York major Michael Bloomberg and talks about 'power washing' the park where the protesters are protesting and apologizes to any protesters who were pepper sprayed. And then proceeds to give out the addresses of some those top 1% percenters who live in New York: George Soros and Jaime Dimon for example.

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