sell! sell! sell!

[tiznow]

here's some earnings for ya basehead

---------------------------------------------------------------------------------------------------------------------

Sept. 19 (Bloomberg) -- Morgan Stanley, the world's second- biggest securities firm, reported quarterly earnings that fell short of analysts' estimates because of losses on loans for leveraged buyouts and a decline in fixed-income trading revenue.

Third-quarter profit from continuing operations dropped 7 percent to $1.47 billion, or $1.38 a share, from $1.59 billion, or $1.50, a year earlier, the New York-based firm said today in a statement. Earnings missed the $1.55-a-share average estimate in a Bloomberg survey of 17 analysts, the first time in at least six quarters that Morgan Stanley failed to surpass expectations.

 

[Willie99]

So, riddle me this ole wise one, how long has this devaluation of the dollar bit been going on? I presume you do know it didn't start this summer, right?

<TABLE borderColor=#003366 cellSpacing=2 cellPadding=1 width=302 align=center border=1><TBODY><TR><TD align=middle bgColor=#003366>Chart 1
Real Exchange Rate and the Current Account Balance </TD></TR><TR><TD align=middle>

</TD></TR><TR><TD class=text7>Source: JPMorgan (real exchange rate),
Bureau of Economic Analysis (current account balance)</TD></TR></TBODY></TABLE>



and what has been happening to our economy during that extended decline again? hno:


and why are international leaders complaining that the weak dollar is hurting "their" economies. :think2:


You've stated your position, I've stated mine. There are scores of articles written by economists that support my positions as well. However, I'm a bottom line guy. We've been through everything you're describing, but the end results aren't what you expected.

Stated differently, if the over under is 38, and the game lands on 49, it went over no matter how much you try to argue otherwise.

Now when the result changes, you can call somebody on the other side "a wall". Until then, just take your losses like a man.


:lol:

 

[tiznow]

since when am i complaining willie? just posting bearish articles for the most part that's all.

as for where the dollar was and gone

rates aren't near 0% as they were when they starting increasing rates to allow the dollar to fall at a moderate rate, now we are cutting rates, and we didn't have oil at 80 dollars a barrel, and gold at 720 dollars

you can't take one data point willie saying look dollar down stocks up...you have to look at the overall picture

I actually cool chart willie

take a look at the trend on both those lines prior to 1987

 

[Willie99]

since when am i complaining willie? just posting bearish articles that's all.

as for where the dollar was an has been

rates weren't near 0% so they could increase rates to allow the dollar to fall at a moderate rate, now we are cutting rates, and we didn't have oil at 80 dollars a barrel, and gold at 720 dollars

you can't take one data point willie saying look dollar down stocks up...you have to look at the overall picture

sorry Tiz, I was responding to VT.

I know how much bad news makes you giddy, carry on :thumbsup:

arty:

 

[JoeContrarian]

You gotta give them credit, Willie, Paulestinians have bags of energy and are very persistent.

 

[tiznow]

also the purple line in much worse shape than 1987 as far as the account deficit. granted inflation makes those dollars worth less over time.

:nohead:

 

[Willie99]

I was actually just using the chart to show the slumping dollar, and how such actually had an inverse relationship with our economic performance. The second line in the chart is the trade deficit, the decline actually helps our economy.

 

[VaultedTreehouse]

So, riddle me this ole wise one, how long has this devaluation of the dollar bit been going on? I presume you do know it didn't start this summer, right?

<TABLE borderColor=#003366 cellSpacing=2 cellPadding=1 width=302 align=center border=1><TBODY><TR><TD align=middle bgColor=#003366>Chart 1
Real Exchange Rate and the Current Account Balance
</TD></TR><TR><TD align=middle>

</TD></TR><TR><TD class=text7>Source: JPMorgan (real exchange rate),
Bureau of Economic Analysis (current account balance)
</TD></TR></TBODY></TABLE>



and what has been happening to our economy during that extended decline again? hno:


and why are international leaders complaining that the weak dollar is hurting "their" economies. :think2:


You've stated your position, I've stated mine. There are scores of articles written by economists that support my positions as well. However, I'm a bottom line guy. We've been through everything you're describing, but the end results aren't what you expected.

Stated differently, if the over under is 38, and the game lands on 49, it went over no matter how much you try to argue otherwise.

Now when the result changes, you can call somebody on the other side "a wall". Until then, just take your losses like a man.


:lol:

Anyone who reads this response to what I wrote can see with their own two eyes what a nothing response that was. You didn't answer a thing b/c the fact is you can't. At a certain point your position goes to shit. Otherwise Zimbabwe's economy is where you should live. Better yet, Weimar Germany sounds great. I came home hoping for the best and all I get is the same tired stuff. Did you read the article? What dumbass economists are you trotting out for your end. Even those ones realize their is a breaking point. For you it never comes....Do this for me. Give me a list of countries who crumbled from a strong currency. Then tell me the number, we'll just take the Euro for this purpose but you could take many, that would start to worry you. Is it 1.50, 2.00, what is it? If you don't have one than you are a moron, plain and simple. So the list and the number por favor.

 

[tiznow]

yeah zimbabwe is hilarous...maybe this is what you low dollar guys want?

-------------------------------------------------------------------------------------------------------------

Zimbabwe Stock Market Booms As Robert Mugabe Prints More Money
Posted by Bill Bonner on Jun 4th, 2007

Money isn’t everything. We provide additional proof this morning by looking at a place with a lot of money - Zimbabwe. Nowhere on the entire planet is money piling up at a more rapid pace. The printing presses in that hellhole must be working around the clock. Consumer price inflation is increasing at an annual rate of 1,729%!

“My bad,” says Robert Mugabe, the nation’s democratically elected tyrant.

We look to Zimbabwe not merely for entertainment but for instruction. It shows us that not only is money not a good gauge of wealth and happiness, neither are asset prices. Rich Americans look at rising stock prices. ‘All is well,’ they say. ‘We’re getting wealthier.’ Poor and middle class Americans look at their house prices. ‘All is well,’ they say. ‘Our houses are worth twice as much as they were 5 years ago; we’re getting wealthier.’

Alas, it is not so. As money comes off the presses in Zimbabwe, it has to go somewhere. More of it goes to the rich than to the poor. So, ASSET PRICES RISE MORE THAN CONSUMER PRICES. Guess which stock market has gone up the most in 2007? The Zimbabwe stock market! It’s up 600% so far this year…up 12,000% over the last 12 months.

Imagine that you live in Zimbabwe. You are one of Robert Mugabe’s cronies and you get your hands on US$50,000. Of course, the first thing you want to do is to shuffle it out of the country. But short of that, what do you do? Do you invest in real capital improvements…new industries…new equipment…new property? No chance. Not in an economy that is rapidly collapsing. People don’t have enough to eat. They can’t buy fuel.

Public services are crumbling. Transport, education, health, trash collection, police - they are all disintegrating. It used to be the richest part of Africa. Now, thousands of refugees sneak out of Zimbabwe every week. The place is a disaster.

Instead of investing in fixed capital improvements, you put your money into stocks - hoping that the stocks will go up faster than your currency goes down. The result? A speculative, asset-price boom - even while the whole country is falling apart.

Meanwhile, America has its own asset-price boom…its own crony capitalists…its own printing presses…

But even as asset prices go up, the real economy slows down. Today’s news tells us that the GDP is barely growing at all. And the Fed says housing will be a drag for longer than expected.

Bill Bonner

The Daily Reckoning Australia

 

[Willie99]

VT, now you want me to substantiate an argument I didn't make? Did I say countries with a strong currency fail? Uh, no. Thus, I'm not responsible for your lack of analytical reasoning. It's not about one extreme or the other, is it?

What I did say is that a strong currency contributed to our trading deficit. Furthermore, the dollar being brought into balance and resulting in our trade deficit shrinking is not bad for our economy. The proof is in economic results.

Stated simply, while our dollar weakened, our economy grew and our trading partners are complaining about the impact on their economies. These are all facts, no hyperbole.

Now, you are arguing that the weakening dollar is destroying us, I guess it's up to you to provide proof. I've already substantiated everything I've said.

As for your extremes? the dollar won't decline to the extent necessary to cause our economy to collapse. You can think differently, we'll just have to let time do it's thing. And if your fears come true, the whole world is fucked. If our economy collapses, the world's economy collapses. Better buy yourself some farm land near drinking water.

 

[Dawoofdaddy]

Gold up big today.

Thank you mr helicopter ben bernanke.

ope:

 

[tiznow]

wow dollar just destroyed 78.594 down .739 in a day....bye bye greenback

oil 83.32, gold 734

 

[SteamDaddy]

Up Up and away we goarty:

Feel sorry for the brain dead morons who are gonna get stuck without gold but then again some of the kool-aid drinkers will get what they deserve.

 

[VaultedTreehouse]

Gold up big today.

Thank you mr helicopter ben bernanke.

ope:

I wonder why it was up so much? Hmmmmm, Willie help me? Does it have something to do with these:money8:

 

[BASEHEAD]

Congrats to goldbugs.Oil men taking what they can get.Just remember to get out w/ a profit.

The dollars big drop.....

It could have something to do with Saudi Arabia.:nopityA:

 

[BASEHEAD]

Globalization....a wonderful thing.

Nike profit surges 51%, aided by Europe, Asia sales



By Andria Cheng, MarketWatch
Last Update: 5:08 PM ET Sep 20, 2007

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NEW YORK (MarketWatch) -- Nike Inc., the world's largest athletic-shoe maker, said late Tuesday first-quarter profit surged 51%, beating estimates, helped by a tax benefit and gains in Europe and Asia.


Net income rose to $569.7 million, or $1.12 a share, from $377.2 million, or 74 cents, a year earlier, the Beaverton, Ore.-based company said after the close of regular trading. Sales in the quarter ended Aug. 31 increased 11% to $4.66 billion.
Sales in Europe jumped 16% and surged 22% in Asia, with profit in each region surging at least 21%. Chief Executive Mark Parker said the company is expanding in emerging markets such as China and India and improving sales in the U.K., France and Japan, among the company's largest markets where sales had slowed, by unveiling products such as thin-soled, so-called low profile shoes. He said Nike's on track to increase sales to $23 billion by fiscal 2011.
A tax-related benefit added 20 cents a share to profit during the quarter, Nike said. Excluding that, Nike would have earned 92 cents a share. On that basis, analysts, on average, expected Nike (NKE: NIKE, Inc
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<IMG class=pixelTracking height=1 width=1 border=0>NKE58.32, -0.24, -0.4%) to earn 87 cents a share on revenue of $4.58 billion, according to Thomson Financial.
Orders of shoes and clothes for delivery between September and January, an indicator of future sales, rose 12% to $5.9 billion. Nike said in June sales this year would rise at the top end of its long-term target of "high-single-digit" range.
Nike shares fell less than 1% to $58.32 in regular trading.

Parker also is focusing on retail, by either opening Nike's own stores or partnering with its retail customers, to spur sales. He's reorganized businesses around six major sports including running and basketball. Nike also is partnering with top customer Foot Locker to open about 50 "House of Hoops by Foot Locker" basketball stores in the U.S. over the next three years as it seeks to expand its own retail network to better control how its products are displayed and sold.
Orders in the U.S. rose 3 percent. In Europe and Asia, they each jumped 17% and surged 20% in the Americas region.
U.S. sales rose 2% to $1.64 billion.
Sales in Europe rose to $1.48 billion as Nike unveiled more thin-soled, low-priced sneakers to meet local demand. Sales in the region, Nike's second largest market after the U.S., had been hurt after the company failed to respond timely to demand for cheaper and low-profile sneakers plugged by rivals such as Puma.
Sales in Asia jumped to $630.8 million as Nike gears up ahead of the Olympic Games in Beijing next year.
Demand for Nike's other brands including Cole Haan, Converse and Hurley, rose 12 percent.

Andria Cheng is a MarketWatch reporter based in New York.

 

[BASEHEAD]

here's some earnings for ya basehead

---------------------------------------------------------------------------------------------------------------------

Sept. 19 (Bloomberg) -- Morgan Stanley, the world's second- biggest securities firm, reported quarterly earnings that fell short of analysts' estimates because of losses on loans for leveraged buyouts and a decline in fixed-income trading revenue.

Third-quarter profit from continuing operations dropped 7 percent to $1.47 billion, or $1.38 a share, from $1.59 billion, or $1.50, a year earlier, the New York-based firm said today in a statement. Earnings missed the $1.55-a-share average estimate in a Bloomberg survey of 17 analysts, the first time in at least six quarters that Morgan Stanley failed to surpass expectations.

Conveniently left out the other big boys I see.

Golden Slacks today...somewhere Cramers going nuts.

 

[tiznow]

Morgan was yesterday's news base....yup your right goldman was on the right side of betting on housing was going to crumble....bear stearns was not

---------------------------------------------------------------------------------------------

Bear Needs a Cavemate

By Mark DeCambre
TheStreet.com Senior Writer
9/20/2007 5:29 PM EDT
Click here for more stories by Mark DeCambre

Bear Stearns (BSC - Cramer's Take - Stockpickr - Rating) may need a deep-pocketed partner to set things right.

The Wall Street financial institution has been cratered by hedge-fund missteps and steep declines in its mortgage-related fixed-income operations. Just how dire the situation is was laid bare by Thursday's weaker-than-expected earnings report.

The bleak state of affairs at Bear may be too heavy for the bank to handle alone. That means Bear may need a new partner who can provide funds to stabilize its balance sheet and offer much-needed geographic diversity, says Punk Ziegel analyst Dick Bove.

The New York-based investment shop painted an abysmal picture in its third-quarter profit report. Earnings plunged 61% from a year ago as Bear, the poster child for the subprime mess, was ravaged by $200 million in hedge fund-related losses.

The bank's bad bets on subprime mortgages came in stark contrast to peer bank Goldman Sachs (GS - Cramer's Take - Stockpickr - Rating), which surpassed analyst expectations in posting earnings of $2.85 billion, or $6.13 a share, for the quarter ended Aug. 31, up from the year-ago $1.59 billion, or $3.26 a share.

Rumors of a possible foreign partner taking as much as a 20% stake in Bear have been floating since last year. That talk has re-emerged as the bank's stock has tanked amid the credit crisis. Now Bove says an outside investor might be a key element to a possible recovery at Bear.

Earlier this month, it was revealed that billionaire investor Joe Lewis had obtained a passive 7% stake in the bank for $860 million. But the role of a new partner at Bear would mean an investor capable of providing the investment bank greater access to capital, helping it to leverage its services on a more global scale.

But even should a new partner willing to open up its purse and clients' book appear, Bear has an equally significant problem to address: its image.

CFO Samuel Molinaro has said that the worst of the bank's troubles are over. But the issues that have lashed the firm, and to a lesser extent other banks and brokers, aren't purely about economic losses. They are tied more to saving face and regaining reputational currency.

Evidence of how tarnished Bear's image is can be found in its prime brokerage business. During the bank's Thursday earning's call, Molinaro admitted that Bear had seen client departures at its prime brokerage business but hoped to lure business back.

Doing so, however, may take more than just fresh cash.

 

[BASEHEAD]

Bears Stern will be more than fine.

 

[tiznow]

Bears Stern will be more than fine.

yeah helicopter ben to the rescue fed's got the bank's back...sheep screw um