What's left to say? Everyone knows that things are a scam but no one wants to miss a move in the magic show. Take this post by Barry Ritholtz over at The Big Picture:
Accounting Fraud, Short Sellers, and the SEC
Mr. Ritholtz lays out the worst of the Lehman collapse fraud and hits all the big points. Final summary thought offered:
All in all, the entire system failed. The situation is utterly disgusting, and if the investing public pulls its money out of the completely corrupt public markets for a generation or more, it would not surprise me . . .Of course Mr. Ritholtz was clear that he was buying the market last March (right on the lows, amazing!) so I guess a rigged market full of fraud is too juicy to leave alone. In fairness it is his job to manage stocks but this is the central issue why nothing ever changes. Asset markets are too important (going up only that is) to leave alone and if that is true it will also be true that rampant fraud will occur because it can.
With this in mind, next week I will lay out a "bullish Enabler of Fraud" portfolio that I may well try out to get a seat at the casino. My proprietary trading software (my mind) targets the S&P at 1250 in the next month or two so there will be ways to jump on that ride.
Living Life on a Friday
I spilled quite a few pixels this week on things economic. In honor of my birthday I am going to have an all around fun post with slices from all over the world of interesting. I hope you enjoy!
Real Estate's Favorite Line in Jeopardy
When asked why buying real estate is a good idea no matter what, the most often cited reply is "they are not making more of it". Well that may not be the case.
What about Waterscapers?:
At least they are not making any more ocean, are they?
Eerie March 12 Factoid
Long time readers know how much I really hate The Beatles. In a swing of cosmic irony not lost on me I noticed on the Wikipedia page for March 12th the following factoid:
Born March 12, 1914, Julia Lennon, mother of musician John Lennon.
Things You Should Know About
Inquisitive minds will like:
-How the Moon was formed. Wild.
-Early Picture taking. Stay still!
-What happened to the USS Scorpion?
-Telomeres are strange.
FailBlog, an Odyssey
Today was a huge day for FailBlogs. Two samples:
"Wendy, I'm Home!"
Not quite the help group one may think:
Some musical selections to start the weekend.
Of course I go out in Boston like twice a year and it is going to rain big time. Reader Anon says they have been swamped with rain for a while so Karen Carpenter's "Rainy Days and Monday's" will fit:
What a voice.
We can get a little nasty with White Zombie and "Thunderkiss 65":
Great guitar chords.
Another great tune on the "Zombieland" soundtrack is "For Whom the Bell Tolls" via Metallica:
Great live version of "The Thunder Rolls" from Garth Brooks:
One more? Two more? Ok, two more.
Take a ride with the Rolling Stones and "Paint it Black":
Last Call! Grab a drink, the mouse and load the tunes!
I get one for my birthday and I once again play the intro (Ride of the Valkyries!) and first song from the greatest live album ever made, "I Don't Know" by Ozzy with Randy on the Tribute album. "ROCK AND ROOOLLLL!!!":
Always a real treat.
Have a good night.