Houston 3

The Stig · 03-03-2008, 04:27 PM

How can they if the losses keep mounting up from people defaulting week after week?

DaveJ · 03-03-2008, 07:50 PM

Quote:

Originally Posted by lorrimer

This must be about the fourth correction of 10% or more in the past 5 months.
Did I blink, but wasn't world economic growth at unprecedented record levels this time last year?

Welcome to the Bear Market!

or

Depending on how you play it..

Quote:

Originally Posted by lorrimer

I don't understand why the regulatory bodies over there cannot give all the major financial institutions a one month deadline to go through their books with a fine tooth-comb. They should then have to announce their losses to the market for once and for all.

I don't think we want to see this... Total implosion of that financial market would be very bad!

Quote:

Originally Posted by lorrimer

If they underestimate by 20% or more, fine them a similar amount.
Time to be honest, let's just get all the bad news out there and move on.
Enough already!!

Some reports are looking at $600Bn+ in write-downs before this is over... Not the $160Bn already mentioned...

What Colour is your parachute!

Alan · 03-03-2008, 08:02 PM

If anyone is expecting a 'Green' Day tomorrow, US Futures don't look like they're going to help.

Tropo · 03-03-2008, 09:03 PM

"We are becoming increasingly concerned that the authorities in the world do not get it," said Bernard Connolly, global strategist at Banque AIG.

"The extent of de-leveraging involves a wholesale destruction of credit.
The risk is that the 'shadow banking system' completely collapses," he said.

"For the first time since this Greek tragedy began, I am now really frightened"

The Federal Reserve's rescue has failed - Telegraph

The Stig · 03-03-2008, 09:50 PM

Buffett just said by common sense definition, the US is in a recession.

Common sense meaning that most people's wealth in the USA is going south and a lot of his companies are seeing a slow down.

Interesting.

lorrimer · 03-03-2008, 10:50 PM

It's a bit worrying that even a man like Buffet doesn't fully understand the subprime crisis and where all the billions have gone. What hope is there for the rest of us?

The Stig · 03-03-2008, 11:19 PM

Quote:

Originally Posted by lorrimer

It's a bit worrying that even a man like Buffet doesn't fully understand the subprime crisis and where all the billions have gone. What hope is there for the rest of us?

What makes you think he doesn't understand the subprime crisis?

I have been him watching answer questions on CNBC for the last 2 hours and I got the impression he knows exactly what is going on with the sub prime and a lot of other subjects.

Allison · 04-03-2008, 07:33 AM

Quote:

Originally Posted by The Stig

Buffett just said by common sense definition, the US is in a recession.

Buffett also said that he's never met a wealthy chartist.

I'm the first to agree that you can make money from the market in many ways, but I still think the talk of chartists is hilarious.

Steve · 04-03-2008, 10:12 AM

Quote:

Originally Posted by Allison

Buffett also said that he's never met a wealthy chartist.

I remember Rene Rivkin saying that, but I didn't know Buffet had said it too. Where is the source of the quote?

Allison · 04-03-2008, 11:05 AM

Me, I'm the source. He said it to me (and thousands of others). Jim Rogers has been quoted similarly (which is more surprising). That's not the point though. It doesn't matter who said it, it matters that it's mostly true (as far as statistical significance goes). Or maybe it's not, who knows.