Among my chores on the 8th was keeping an eye on the Asian markets so once again, in early. Here's what we were posting:
3:18 am
US bank exposure to Fannie and Freddie prefereds (WFC)
3:25 am
Management Changes at Lehman, Washington Mutual, Wachovia (LEH; WB; WM)
3:35 am
Some quick analysis of what the Frannie bailout means
4:03 am
Tips for panhandlers, from panhandlers (not directly FNM related)
4:28 am
The Next Bailout
4:40 am
Jim Rogers: How the Federal Reserve Will Fail (As in BANK FAILURE)
I feel like a party pooper, posting this on a day that Asian and European markets are roaring and the DJIA looks set to open up 200+....4:56 am
Brokers and Other Pundits on Fannie Mae and Freddie Mac (FNM; FRE)
Secretary Paulson's former firm should do quite well today. I don't know if we can call him a hero yet, let's wait to see how the GSE's function when they go into run-off mode. I can say that Yves Smith at Naked Capitalism and Barry Ritholtz at The Big Picture were bloggo-heroes this weekend.9:17 am
Solar Stocks Getting Crushed. And: Dikeman Spouts Off on New Energy
11:22 am
Hurricanes Could Sink Florida Financially
Why the hell should a working family in Bozeman Montana subsidize a fifty-five year old early retiree living in Pompano Beach?...12:03 pm
Marc Faber-"Dr Doom: More gloom, the Kondratieff wave and what comes next"
12:24 pm
Solar stocks pummeled on 2009 pricing fears
12:57 pm
False Report Sends UAL Shares Plunging (UAUA)
The Dow Jones Industrial Average closed that day at 11,510.74 up 289.78 and everyone breathed a sigh of relief.
We were wrong.
The hurricane was still approaching. The market would lose another* 43% in the next six months and would not see this level again for the next 27 months.
*At the close that day the DJIA was down 19.28% from its Oct. 9, 2007 all-time high and some commentators were talking about how we were no longer in the the "down 20% = a bear market".
