Does anybody here have any positions on the major exchanges across the world, such as Hong Kong, NYSE Euronext, Frankfurt, Nasdaq, or the like? If so, what are you long or short in?
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Wall Street (2 Viewers)
- Thread starter Bjerknes
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I'm long in a lot of foreign stocks these days. The Bush administration has pretty much made me short the dollar and the U.S. business economy for years now, save for power companies, and it has not disappointed. Just because your president is spending bad money like a drunken sailor on shore leave doesn't mean you should follow his idiocy -- and not instead try to find predictable ways to profit from it.
But the U.S. dollar has been beaten up so badly, and with an administration change looming, I might entertain some longer positions in the U.S. markets again. So in a few months, I think some of the international markets may soon become some good short positions for selling a little short.
But the U.S. dollar has been beaten up so badly, and with an administration change looming, I might entertain some longer positions in the U.S. markets again. So in a few months, I think some of the international markets may soon become some good short positions for selling a little short.
It seems like the US dollar has hit the low. Ever since 2002 the exchange rates from an American perspective, as you know, have been horrendous. There can only be so much downside for an economy like our own.
But it was funny watching CNBC last week. Bank of America came out with a report that they were going to proceed in various cost-cutting, money efficiency measures to help their bottom line out due to the current crisis. One of the reported measures was stated to be doing away with various "ammenities," such as free coffee for employees and even handsoap in bathrooms. Then on the same day, after all sorts of ridicule in the business world, BOA came out and said that well, maybe we won't take handsoap out of the expenditures balance...
Talk about dirty bankers...
But it was funny watching CNBC last week. Bank of America came out with a report that they were going to proceed in various cost-cutting, money efficiency measures to help their bottom line out due to the current crisis. One of the reported measures was stated to be doing away with various "ammenities," such as free coffee for employees and even handsoap in bathrooms. Then on the same day, after all sorts of ridicule in the business world, BOA came out and said that well, maybe we won't take handsoap out of the expenditures balance...
Talk about dirty bankers...
Rogue Trader Burns €5 Billion
Jérôme Kerviel, the French rogue trader, was to be freed on bail last night after admitting that he concealed billions of euros of secret deals but saying that he was acting in his bank’s interest among others who broke the rules, the chief Paris prosecutor said yesterday.
The “€5 billion man” was driven off after three days in custody as the scandal around the Société Générale bank widened with allegations of insider trading and word that it had ignored a warning from the German Eurex exchange in November that Mr Kerviel had carried out a heavy suspect trade.
Sketching Mr Kerviel’s version of the historic €5 billion (£3.7 billion) trading loss, Jean-Claude Marin, the prosecutor, implied that the bank may have turned a blind eye towards illicit trading by its staff.
Mr Kerviel, 31, had often managed to deflect inquiries about irregular transactions as he ran up an astronomic €50 billion liability.
http://business.timesonline.co.uk/t...ectors/banking_and_finance/article3267275.ece
Jérôme Kerviel, the French rogue trader, was to be freed on bail last night after admitting that he concealed billions of euros of secret deals but saying that he was acting in his bank’s interest among others who broke the rules, the chief Paris prosecutor said yesterday.
The “€5 billion man” was driven off after three days in custody as the scandal around the Société Générale bank widened with allegations of insider trading and word that it had ignored a warning from the German Eurex exchange in November that Mr Kerviel had carried out a heavy suspect trade.
Sketching Mr Kerviel’s version of the historic €5 billion (£3.7 billion) trading loss, Jean-Claude Marin, the prosecutor, implied that the bank may have turned a blind eye towards illicit trading by its staff.
Mr Kerviel, 31, had often managed to deflect inquiries about irregular transactions as he ran up an astronomic €50 billion liability.
http://business.timesonline.co.uk/t...ectors/banking_and_finance/article3267275.ece
