Comments on: Six Lessons From Bear Stearns Debacle

By: Michael Goldfeder CFP

Michael Goldfeder CFP — Wed, 19 Mar 2008 22:35:22 +0000

VAR Guy,
I’m proud of you for these tid bits of advise. I always knew you were a sound, critical thinker but you really sound like a financial planning pro. Well……at least your father does. Great job and I hope to see you soon.

By: Raul Ruiz

Raul Ruiz — Tue, 18 Mar 2008 22:17:49 +0000

Great piece Var Guy!! I absolutely agree with you. I used to work as a commodity broker about 4 years ago. Almost all of the traders back then told me that this housing frenzy would come to a horrible end and probably drag the whole US economy into recession. We could tell because the monster institutional brokerage houses were hedging their CD0’s and bond debt in the futures market at levels of volume/trading never seen before in the industry. Many of us knew something big down the pipe was coming eventually. However, not all the major banks or Brokerages hedged themselves and were basically on the wrong side of the trade, AKA “Bear Sterns and County fried Financial” and are now pixie dust!! Jim Cramer is just another example of a stock broker talking up his book. I mean when you watch these programs you would swear these analyst act like there has never been a bear market in history. As in the physics of gravity “what goes up must eventually come back down to earth.” Same goes for stocks, bonds, houses, futures, options. This is a good time for JPMorgan to cut costs and adopt “Ubuntu Servers” And ditch the win2008 servers and that crappy hardware devouring Vista!! Ofcouse this is just pure fantasy. But hey! you never know Besides, Jimmy Cramer said Monday go with JPMorgan now, Which probably means they will fall off the map next week! LOL!!
Viva Ubuntu and farewell Var Guy!
RR.

By: smarvel

smarvel — Tue, 18 Mar 2008 18:31:40 +0000

Rock on Joe, once again, major home run. Now, get to bed so you get a good nights rest and will be rarin to go for us tomorrow. Thanks Buddy!

By: Not Jimmy

Not Jimmy — Tue, 18 Mar 2008 17:26:51 +0000

The VAR Guy and Jimmy Cramer both make me laugh. I never thought I’d say this but I think I now trust this anonymous blog site more than a trust a media hound like Cramer.