Steve Netwriter Posted March 17, 2008 Report Share Posted March 17, 2008 Are you buying in US$, GBP or what ? I got this from Itulip. Not sure whether I've posted it here. This makes life very simple for you Is gold expensive ? And a little reminder: Link to comment Share on other sites More sharing options...
G0ldfinger Posted March 17, 2008 Author Report Share Posted March 17, 2008 http://www.bloomberg.com/apps/news?pid=206...&refer=home JPMorgan Chief Executive Officer Jamie Dimon bought Bear Stearns, once the biggest underwriter of U.S. mortgage bonds, for less than the value of its real estate after clients, alarmed by speculation about a cash shortage, withdrew $17 billion in two days.... Cayne ranked as Wall Street's richest CEO, with $1.3 billion of assets, according to Forbes magazine's 2007 billionaire survey. His stake in the firm approached $1 billion last year when the shares reached their peak price of $170. Under terms of the JPMorgan takeover, his holdings are now worth about $12 million. Oh man, this MUST hurt. I hope Cayne's mortgage is not too big. Link to comment Share on other sites More sharing options...
G0ldfinger Posted March 17, 2008 Author Report Share Posted March 17, 2008 Without a resolution this weekend, Bear Stearns's situation would have continued to deteriorate when markets resumed trading, according to analysts and investors. Yet the value placed on the company, whose shares closed as high as $158.39 last April, raised questions about share prices for the rest of Wall Street. ``This is a serious crisis,'' said David Goldman, portfolio strategist at Asteri Capital in New York and former head of debt research at Bank of America Corp., the biggest U.S. bank by market value. Eight-Month Slide ``For Bear's stock price to go to effectively zero, contrary to market expectations, even at the close on Friday, tells us that something is systemically very wrong and we're at a very dangerous moment,'' Goldman said. You bet. Link to comment Share on other sites More sharing options...
G0ldfinger Posted March 17, 2008 Author Report Share Posted March 17, 2008 ...I think the most important thing is this. If you buy, know the price might correct, and set your mind beforehand that you will NOT sell. Buy and hold. ... That's the point really. Ask yourself how comfortable you would be seeing it plunging 20% the next day. Would you still be convinced about the fundamentals? Link to comment Share on other sites More sharing options...
drbubb Posted March 17, 2008 Report Share Posted March 17, 2008 Oh man, this MUST hurt. I hope Cayne's mortgage is not too big. Cayne is a capitalist. And he should know that this is exactly how capitalism is MEANT to work. His mismanagement blew up Bear. If he loses 80-90% of his networth as a result, it would be fair. Link to comment Share on other sites More sharing options...
ologhai Posted March 17, 2008 Report Share Posted March 17, 2008 Are you buying in US$, GBP or what ? GBP. I got this from Itulip. Not sure whether I've posted it here.This makes life very simple for you I'm sure it would if I understood it! So, the blue line is just CPI (or perhaps RPI looking at the 4%-ish it's at now), but I don't understand the red line. '10-year Treasury Constant Maturity Rate'? Talk about out of my depth! Link to comment Share on other sites More sharing options...
azazel Posted March 17, 2008 Report Share Posted March 17, 2008 anyone know what time they fix silver price? Link to comment Share on other sites More sharing options...
mongoose Posted March 17, 2008 Report Share Posted March 17, 2008 GBP. I'm sure it would if I understood it! So, the blue line is just CPI (or perhaps RPI looking at the 4%-ish it's at now), but I don't understand the red line. '10-year Treasury Constant Maturity Rate'? Talk about out of my depth! The red line interprets underlying interest rates, so as seen in the graph the increase of interest rates (by Volcker) to the teens effectively killed off the last gold bull. Currently, as interest rates are low and falling and true CPI is above interest rates, the gold bull should run for some time to come Link to comment Share on other sites More sharing options...
G0ldfinger Posted March 17, 2008 Author Report Share Posted March 17, 2008 Cayne is a capitalist. And he should know that this is exactly how capitalism is MEANT to work.His mismanagement blew up Bear. If he loses 80-90% of his networth as a result, it would be fair. Agreed. If he was leveraged, his net worth might now be a substantial negative sum. Link to comment Share on other sites More sharing options...
marceau Posted March 17, 2008 Report Share Posted March 17, 2008 An excellent day so far, gentlemen, and there will be more to come. This week will force the Central Banks hands, they must choose and adopt a policy onceand for all; either let it fail or totally monetize. I think I know which it will be and I'm sure they are loading the monetization rocket as we speak. In their minds if they do otherwise history will condemn them as those who allowed a depression for not easing with sufficient pace. The next few days charts will no doubt make me seasick, but I'm holding until this has played out. The implications of the Bear Sterns debacle are little realised at the moment, this situation will not last long, and when the truth hits home gold will fly. Stay long. Stay strong. Link to comment Share on other sites More sharing options...
marceau Posted March 17, 2008 Report Share Posted March 17, 2008 Is anyone else a little ashamed at the lack of vision UK traders are showing at the moment. It's almost as if they know they should pull the plug and sell, but have to wait for confirmation from their US mentors before they actually do. It's like they have no mind of their own, the FTSE should, in reality be another few hundred down by now, and no doubt will be this afternoon when NY opens. Why UK traders don't have the balls to play the facts is beyond me. Link to comment Share on other sites More sharing options...
azazel Posted March 17, 2008 Report Share Posted March 17, 2008 What do you reckon, buy silver coins now or wait a bit? To answer my own question, the systems only going to get worse from here so theres no time like the present? Link to comment Share on other sites More sharing options...
Justin Thyme Posted March 17, 2008 Report Share Posted March 17, 2008 Central bank intervention is becoming more likely by the day. $1.59 is seriously bad. ECB despite Italy being on the brink of recession and Sarkozy throwing histoys out of the pram, still won't cut rates so the only way they can affect this is to buy bucks. As DrB sid, this kind of intervention HAS to succeed or whatever confidence remaining in the banking system will evaporate. I reckon we can expect this within the coming fortnight. This is going to affect gold Link to comment Share on other sites More sharing options...
Pluto Posted March 17, 2008 Report Share Posted March 17, 2008 Yer, I bet they feel safe with their paper money now. Still they could always buy back in and eat humble pie They are panicking right now, moving their cash from one account to another then into different curriencies. It's kind of fun to watch from the background. Also, most of their threads turn into some form of Gold discussion. They want to keep Gold off the main forum, but they can't. Link to comment Share on other sites More sharing options...
Gatesy Posted March 17, 2008 Report Share Posted March 17, 2008 Smackdown now in play? Link to comment Share on other sites More sharing options...
Pluto Posted March 17, 2008 Report Share Posted March 17, 2008 Smackdown now in play? With MER and LEH collapsing this morning - it is of the utmost importance that they put the brakes on the Gold and Silver markets. The PPT must be up bright and early this morning. Link to comment Share on other sites More sharing options...
azazel Posted March 17, 2008 Report Share Posted March 17, 2008 With MER and LEH collapsing this morning - it is of the utmost importance that they put the brakes on the Gold and Silver markets. The PPT must be up bright and early this morning. PPT?????????? Link to comment Share on other sites More sharing options...
drbubb Posted March 17, 2008 Report Share Posted March 17, 2008 (from advfn's gold thread): yikyak - 17 Mar'08 - 12:33 - 36441 I'm hearing rumours that Hong Kong could be un-pegging it's currency from the US$, anyone know anything? If true this is HUUUUUUUUUUUGE news. energyi - 17 Mar'08 - 12:37 - 36442 Hmmm. If true, it is because they do not want to folllow the US rate cut Link to comment Share on other sites More sharing options...
drbubb Posted March 17, 2008 Report Share Posted March 17, 2008 Smackdown now in play? "movements outside NY trading mean little... and tend to get retraced" Link to comment Share on other sites More sharing options...
Pluto Posted March 17, 2008 Report Share Posted March 17, 2008 PPT?????????? One theory regarding the Working Group refers to it as the Plunge Protection Team PPT. This theory claims that the Working Group is a scheme to manipulate U.S. stock markets in the event of a market crash by using government funds to buy stocks, or other instruments such as stock index futures. Link to comment Share on other sites More sharing options...
allyjcambo Posted March 17, 2008 Report Share Posted March 17, 2008 First post on this site. I'm a huge fan of the Minesite podcast and would like to thank Dr Bubb and Frizzers for all their insights. I have heard you both say (or at least Frizzers say) that the gold price is in for a nasty correction later this year (maybe back to $850) before its next jump. What is the basis for this prediction (e.g. simple profit taking or something else?). Link to comment Share on other sites More sharing options...
lowrentyieldmakessense(honest!) Posted March 17, 2008 Report Share Posted March 17, 2008 Hmm guess i have missed the silver pull back do i continue to have patience in the hope that they will manage to contain the panick - or do i jump in. do i feel lucky can the powers continue to fool the masses given that easy credit is no longer available to counteract their fall in wealth Link to comment Share on other sites More sharing options...
drbubb Posted March 17, 2008 Report Share Posted March 17, 2008 First post on this site. I'm a huge fan of the Minesite podcast and would like to thank Dr Bubb and Frizzers for all their insights. I have heard you both say (or at least Frizzers say) that the gold price is in for a nasty correction later this year (maybe back to $850) before its next jump. What is the basis for this prediction (e.g. simple profit taking or something else?). Yes, basically that's it. Once the seasonal upthrust is one of the way, I expect a retracement, a $850 would be the ideal target. But a higher figure, such as $930 or so, is also a decent target Welcome to GEI. I look forward to more posts. Member OneThousand has just registered Link to comment Share on other sites More sharing options...
marceau Posted March 17, 2008 Report Share Posted March 17, 2008 Holy moly, that was the mother of all silver dumps there. I'm guessing now the pre-NY gap has been filled it will rally strongly. Would take a braver man than me to buy after that drop though. Link to comment Share on other sites More sharing options...
marceau Posted March 17, 2008 Report Share Posted March 17, 2008 Apparently silver lost 5.7% in just 3 hours there. Not the place to be if you don't like volatility, then. Link to comment Share on other sites More sharing options...
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