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bertatlas

  1. the pending downsizing/breakup of the euro will be short term nasty and long term beneficial. especially for Greece, Portugal, etc...
  2. NIce job on the FB pricing. Underwriters placed the stock in weak hands if it can't stay above issue price beyond the 1st day of trading...
  3. The JP Morgan folks will say the $2b loss was a hedge gone wrong. It wasn't a hedge against the bank's exposure, it was a simple bet...
  4. Pension funds that have high fee investments (PE, RE, HF) have been outperformed by stocks/bonds nytimes.com/2012/04/02/bus…
  5. at 6x+ book, why is Apple buying any of its stock back? They should just do a special dividend.
  6. The Fed's bank stress test were pretty severe. That so many banks passed is a strong positive...
  7. Agreeing to an austerity program is one thing, let's see it implemented when riots breakout, businesses burn, and politicians get sacked...
  8. Excellent editorial on An Exit Strategy From the Euro on.wsj.com/yPKOWH via @WSJ
  9. Treaty amendment, ECB as lender of last resort, fiscal reform - only way Euros get out of the mess. Better happen over the next few weeks.
  10. Leon Cooperman says pretty much all you need to say: nyti.ms/u52gA1
  11. the job adds, the improving economy, the global need for US dollars - real fiscal reform & USA would be more dominant than last 30 yrs
  12. OIS + 50 bps is the "new LIBOR"
  13. major Central Banks effectively reduce funding in US$ by 50 bps to help the Euros stay afloat. Temp, needs Euro fiscal reform. Own TIPs
  14. JP Morgan call to MF Global - "Hey, we have $650mm of your funds in custody over here. We understand you're looking for it. Want it?"
  15. It's all about Italy now...
  16. A little CYA leadership by Papandreou. Knows Euro-plan won't be popular and doesn't want to take the heat. Start reprinting drachmas...
  17. Italy "promises" to reduce spending... How does that appear on the balance sheet?
  18. The Euro accord is nice, but not that strong. Banks build cap through Ret. Earnings, not infusions. Constrains lending...
  19. It's a pretty simple concept. It's called "restructure debt payments". That way the Euros don't have to call it a Greek default...
  20. Buffet is loathe to buy his own stock & historically has not done so. BRK buyback another indicator that risk is cheap and bonds are rich.