From Housingwire:
JPMorgan’s Dimon threatens to quit FHA loans
JPMorgan Chase’s (JPM) CEO says his bank is considering getting out of the FHA mortgage origination business altogether.
Notably, with the second quarter’s 66% year-over-year plunge in originations reported last week, that process is inadvertently and unintentionally under way.
CEO Jamie Dimon’s JPMorgan paid more than $600 million in federal fines for originating $200 million in flawed FHA loans, and now he and others in the industry want clearer rules spelling out when the government will demand these triple penalties, Bloomberg reports.
“The real question to me is, should we be in the FHA business at all?” Dimon said. “And we’re still struggling with that.”
Dimon’s threat to stop FHA lending may be meant to push regulators to address bankers’ frustrations over the stiff penalties they must pay, housing industry analysts say. Banks are under pressure to provide FHA mortgages — despite the risk of damages for underwriting errors — to help meet federal laws requiring them to serve minority and low-income borrowers. The standoff is hurting the tepid housing recovery as lenders tighten standards for FHA loans to avoid triggering the fines.
“My guess is that it’s probably gotten people’s attention that he signaled that maybe he’s had enough,” said Brian Montgomery, vice chairman of the Collingwood Group in Washington, who served as FHA commissioner under President George W. Bush. “I suspect that every one of his competitors feels the same.”
@RBReich: True patriotism isn’t just about securing our borders from outsiders. It’s about coming together for the common good.
From Bloomberg:
Housing Buoyed by 20-Year High for Vet’s Loans: Mortgages
America’s fragile housing recovery is getting a boost from military buyers using VA mortgages as the U.S. draws down troops after more than a decade of combat in Iraq and Afghanistan. About 4.7 million full-time troops and reservists served during the wars and many are now able to take advantage of one of the easiest and cheapest paths to homeownership. The program’s share of new mortgages, at a 20-year high, is also increasing as other types of government-backed loans have grown more costly.
“The reduction in uncertainty for the returning vets allows them the freedom to spend more, including buying housing,” said Sam Khater, deputy chief economist at CoreLogic Inc., an Irvine, California-based property-data firm. “VA buyers are coming into the market in higher and higher proportions and tend to be first-time buyers, one of the missing drivers in the recovery in housing demand.”
…
VA loans accounted for 8.1 percent, or $19.5 billion, of mortgages made in the first quarter, up from 6.9 percent in 2013 and less than 2 percent a decade ago, according to newsletter Inside Mortgage Finance. There are more than 2 million VA loans, with balances in excess of $370 billion, after six years of increasing volumes.
…
VA loans came into existence in 1944, when President Franklin D. Roosevelt signed into law the G.I. Bill of Rights, which included college tuition assistance as well as help with mortgages, business loans and unemployment benefits.
As veterans returned from fighting against Germany and Japan, the loans jumped to 28 percent of all mortgages recorded in 1947. That drove up homeownership and helped create a suburban building boom, said Daniel Fetter, assistant professor of economics at Wellesley College in Massachusetts.
“The most important thing in the increase in homeownership after World War II is mortgage finance,” Fetter said.
While about half of today’s 21 million veterans served in World War II, the Korean War and the Vietnam era, many of the 2.8 million veterans who joined since the Sept. 11, 2001, attacks are now prime candidates for homebuying as they shift into civilian life.
Michael,
i have been busy and haven’t looked at it, but will check plug later today
EHS due out at 10
In the split-second confusion of being jarred awake by strange noises, Westcott picked up his pistol in a futile effort to defend himself. It would be the last decision he ever made. Police skillfully entered his sleeping quarters and opened fire on the man that supposedly “threatened the officers.”
(who invaded who’s home again?)
Mr. Westcott did not fire a shot. He was mortally wounded when struck with multiple shotgun slugs and pistol rounds.
The search of the tiny 600 square-foot house netted a total of 0.2 grams of marijuana — valued at $2.
The pretexts of the search warrant were questionable. Initially, the department claimed their actions were based on neighborhood complaints, but their story changed when the Tampa Bay Times pressed for records to back up the assertions; apparently they did not exist. The second version of events stated that Mr. Westcott had sold marijuana to an undercover police officer, but that story, too, was retracted. The department’s third “revised” story alleged that a confidential informer — not complaining neighbors or an undercover cop — had told the police that Mr. Westcott was a drug dealer who had sold weed at the house in the past.
Even if one believes the secret witness — who is likely under police pressure to produce tips in order to avoid his or her own prosecution — the allegations held that four transactions took place, each for small amounts of cash. Over the course of months, these alleged sales totaled just a couple hundred dollars — hardly worth expending taxpayers’ resources fretting about. But that did not stop the Tampa Police Department from deploying the maximum amount of force available.
http://www.tampabay.com/news/publicsafety/crime/informer-not-neighbor-complaints-led-up-to-fatal-tampa-pot-raid/2187316
5 – I won’t sleep better tonight knowing another drug dealer is off the streets.
Why is the DOD arming local police departments with heavy weaponry?
http://www.northjersey.com/news/armored-vehicles-at-the-center-of-latest-bergen-conflict-1.1054456?page=all
Besides, everyone knows they should go to Hudson county, they would be a great centerpiece for the SWAT annual topless machine gun hose down.
Obama: ‘Weapons of War Have No Place on Streets’
From the article above, Jamie Dimon
“He and others in the industry want clearer rules spelling out when the government will demand these triple penalties”
The way I read this statement leads me to believe this is all about law breaking and mathematics and odds.
If you know you can do something wrong and profit from it why not?
Would the deal have been better if the triple penalties were only double penalties?
Better idea Einstein, how about not breaking the rules AT ALL.
That way you don’t have to worry about penalties at all.
Guess you could get into the sub prime auto loan market also, just watch to see if it is double or triple penalty week first.
https://screen.yahoo.com/new-york-times/no-credit-no-problem-162219272.html?vp=1
7.Grim,
If you have to ask……
But you know already.
from WashingtonPost
“GAZA CITY — More than 560 Palestinians have been killed in the 14-day battle with Israel. Burying the bodies has become more difficult and dangerous with each passing day.
Movement can be a risky sprint not only for ambulances but also for the beat-up vans that ferry the dead to cemeteries. The central morgue in Gaza City is overflowing, its wheezing refrigerators losing the struggle against the smell. The graveyards are filling, and mourners dig their own holes.”
Feels like a good opportunity to post the vice guide to Swatting…
http://www.vice.com/vice-news/heres-what-happens-when-hackers-send-a-swat-team-to-your-house
Much of the documentary is shot in Somerset county and covers their SWAT team. Cuz you know, terrorists are always trying to bomb rural Somerset County, NJ so they need armored vehicles and combat training.
No, there is a contradiction inherent in mortgage lending today. In many cases you are forced to make riskier, lower quality loans, in order to meet fair housing/cra obligations, otherwise you will be accused of redlining.
Any rules regarding tighter lending will disproportionately impact minorities, and poor neighborhoods, period.
So really, they are damned if they do, damned if they don’t.
From a consumer standpoint, who do you think will feel the impact of the triple penalty? Well qualified borrowers or marginal borrowers? And as a business, how do you compensate for this risk? You increase the rate on the mortgage. So now you are in a position where you will be accused of predatory lending.
So what do we want, fair housing or tighter lending requirements? We can’t have both.
clotluva- Check this out about hydrogen and the u.s govt.
https://beta.congress.gov/bill/113th-congress/senate-bill/2573/text
[7] grim,
The 1033 program has been around for awhile. Militarization of the police is nothing new as evidenced by the equipping of SWAT teams in the 60s and 70s. This was seen as necessary against a criminal element that fought back against law enforcement in a way unprecedented in modern times.
The problem is that military tactics don’t mesh well with traditional law enforcement objectives or basic civil rights.
We are turning our soldiers into policemen overseas and our policemen into soldiers at home. Given that many academy recruits come straight from the military, there is going to be a blending of mindsets. Soon, they will be indistinguishable.
The housing market should be all cash, no mortgages at all. It would fix every problem except the one of finding greater fools to buy your house.
Maybe eliminate all public education in urban areas too as it doesn’t seem to work anyway.
alright….just be careful….very volatile stock. I think hydrogen is making a comeback, but it’s tough to say if it will beat out electric. Even the car makers are divided now. They really have no idea which technology will win out. Check out this article about toyota.
Plug has nothing to do with cars though, they are into the forklift business. They are replacing acid based batteries on those systems with hydrogen fuel cells. Seems to be a market for them in this segment.
http://www.news-journal.com/business/after-hybrid-success-toyota-to-gamble-on-hydrogen-cell/article_5b77e80e-0c6a-58ff-923d-a8269c6c77a9.html
anon (the good one) says:
July 22, 2014 at 7:21 am
Michael,
i have been busy and haven’t looked at it, but will check plug later today
[13] grim
“So what do we want, fair housing or tighter lending requirements? We can’t have both.”
Don’t tell them that inside the Beltway. Denial over the role that CRA and fair housing initiatives played in the bubble is practically institutionalized in certain circles there.
Often, when I asserted this, I was attacked (and always from the left), and my attackers would post op-eds by Barney or Krugs, claiming that fair housing played no part. I said that it did and I knew firsthand. They would ask snarkily “How could you know this firsthand?”
So I would tell them: I was in the room when regulators would strong-arm my clients into upping their “fair housing” commitments.
Those big bank mergers that happened after Citi-Travelers? There wasn’t one where the approval wasn’t made contingent on a fresh infusion of cash dedicated to housing the poor. In fact, to get approval for any bank structure change (merger, acquisition, etc.), the regulators were REQUIRED to look at the institutions’ CRA programs, ratings, and commitments to housing for the poor. It is in every single approval order written. Read them for yourselves.
Grim because in case you have not noticed the use of government force against a lightly armed citizenry has been ramped up to 11. Plus you know the boys in blue need to get home safe at night.
Seems everyone except me is ripping off AC. . . .
http://www.cnbc.com/id/101855158
Don’t tell them that inside the Beltway. Denial over the role that CRA and fair housing initiatives played in the bubble is practically institutionalized in certain circles there.
Don’t sugar coat it, in many circles you’d be demonized for even asking the question.
#15..that is why I think arming yourself for the end times, a la Clot, may not work out as I know the local Police forces are pretty well equipped and they are in a great position to fend for themselves with great success.
Some light reading for Joyce and Toxic
http://www.dispositionservices.dla.mil/leso/Pages/1033ProgramFAQs.aspx
Fortunately, dispersal means that no one jurisdiction could use this program to build a small army. In fact, this program has controls to prevent this. The same people that want a militarized police force in certain areas don’t want it in others. In fact, the criteria for donations includes how much of a drug problem your community has. The folks in DC don’t want tac vehicles going to outfit sheriffs in rural areas that may go sovereign on them.
[23] condo
That’s why preppers that don’t fall into the crazy-ass prepper category all have the same mantra–Support Your Local Police.
Come on, who wouldn’t want some of these toys to tool around in?
http://www.dispositionservices.dla.mil/leso/Pages/Vehicles.aspx
Grim,
Why are you completely out of equities?
Speaking of crazy-ass preppers, any bidders on these?
http://gsaauctions.gov/gsaauctions/aucdsclnk?sl=91QSCI14254809
FWIW, the items that seem to get really high bids on the GSA site? Boxes of spent brass cartridges.
@chrislhayes:
Curious to see if conservatives take up the Garner family’s cause. If you want to talk about “gov’t overreach”, that’s what it looks like.
@mayread3:
@chrislhayes they won’t because he’s black
The FHA is a financial garbage can and BK/bailout vehicle. It has now been jam-packed with nuclear waste and random trip-wired. Detonation is imminent.
somebody put anon in a choke hold
re: FHA- people with no money for a down payment and bad credit get to buy a home with this program. Heck they will even give you FREE extra money for home improvements and repairs.
What could possibly go wrong?
I will keep asking the question until I get an ANSWER DAMMIT!
Is it time to take a vacation on the house yet?
Anyone here using IOS?
http://www.slideshare.net/malvvv/iosbackdoorsattackpointssurveillancemechanisms
How long before this guy has an accident?
http://www.washingtonpost.com/opinions/meet-executive-order-12333-the-reagan-rule-that-lets-the-nsa-spy-on-americans/2014/07/18/93d2ac22-0b93-11e4-b8e5-d0de80767fc2_story.html
Re: [29];
@mayread3:
@chrislhayes they won’t because he’s black
Leftist plays the race card. I’m shocked… SHOCKED!
BTW, Anon, not exactly surpized to see you re-tweeting someone who indulges “Birtherism” (https://twitter.com/RichardOHornos/status/490470297917980672)… Your side proves that it is only acceptable when done by the “correct” people and against the “incorrect” ones.
[22] And they might just send Janet Reno by to break your knee caps too.
Don’t sugar coat it, in many circles you’d be demonized for even asking the question.
Retweeting or posting that race baiting horsesh1t makes you a rac1st fool. EVERYONE believes that the cops were excessive in that case.
anon (the good one) says:
July 22, 2014 at 9:56 am
@chrislhayes:
Curious to see if conservatives take up the Garner family’s cause. If you want to talk about “gov’t overreach”, that’s what it looks like.
@mayread3:
@chrislhayes they won’t because he’s black
I wonder if Deblasio plans on meeting with Al Sharpton via skype from Italy about the Garner incident.
Sharpton is like a fly.
“Don’t tell them that inside the Beltway. Denial over the role that CRA and fair housing initiatives played in the bubble is practically institutionalized in certain circles there.”
Nom, I shared this story back when the financial crisis was taking out IBs. And it’s not a partisan issue whatsoever, so it should not be misconstrued as one.
One of my dad’s childhood friends was the CEO/Owner of a mid-size mortgage company. If I named it, you would recognize it, but it’s not quite BOA sized. Well as the housing market started to get bubbly, he and many of the other business leaders in the industry lobbied the fed to stop providing loans to customers who surely would default. They knew it was going to take down the industry and especially the too small to survive such a potential influx of defaulters. Yet the powers in charge literally forced them to continue to do so. All of these smaller mortgage companies, of course, went belly-up. But not before making more money than any of these CEO/Owners could have ever imagined.
The day I heard of the demise of my dad’s friend’s firm on Bloomberg, I immediately called him to ask if his buddy was OK? My dad said he was happy to be forced into early retirement (actually, he was in his 70s). My dad said he made more money than he knew what to do with the past decade and not to worry at all. When I asked my dad why he risked his business making questionable loans? My dad said that he was absolutely, unequivocally forced to do so against his will.
This one just dropped $10,000 which we know does nothing except appease the pudgy seller from throwing yet another tantrum. Ahhh… listen to the soothing sound of the Parkway 24/7 as it screeches through your property. This one needs to drop another 100K to reflect true value:
http://www.njmls.com/listings/index.cfm?action=dsp.results&mls_number=1422699&proptype=1%2C3a%2C3b&searchtype=sale
Gotta get Ghada – she’s a f*cking real estate superhero.
Sold $54 million in real estate in 2013, she will top that in 2014. I suspect she made near $1m in commissions last year.
Bonuses at the European arm of Tudor Investment Corporation more than doubled in the last year.
According to newly-published accounts obtained by Financial News, Tudor Capital Europe allocated $146.2 million in discretionary awards to 19 employees for the year to the end of March. The highest-earning employee received $58.1 million. The article added that the figure was on top of $4.99 million in remuneration for its members.
The 12-month figure is more than double the combined $59.3 million in bonuses and remuneration given out for previous year. The surge in the combined pay and bonus pool followed a year in which revenues in Tudor Capital Europe more than doubled to $251.6 million.
Founded by Paul Tudor Jones, Tudor Investment has a total of about $13 billion in assets under management.
“Sold $54 million in real estate in 2013, she will top that in 2014. I suspect she made near $1m in commissions last year.”
I would believe it. She certainly doesn’t have enough time to proofread her bio (plus, she’s a graduate of Coldwell Banker University) :
My philosophy
While I was growing up, my parents always tought me to treat every body as I want to be treated with Respect, Honesty & Integrity . They also tought me to have a sense of humor in my life, be positive and always try to do my best no matter how small or large the task is. I truly implemented their teachings in all my personal & business dealings. My Goal is to always provide complete and comprehensive real estate services for all my cleints making sure that all their real estate needs have been met and that the selling or buying experience they had with me is the best they ever experienced. My cleints always come first .
“Your Satisfaction Equals My Success.”
I have been a licensed Real Estate Salesperson for over 24 years and a Bergen County Resident for over 35 years. I use my experience and indepth knowledge of Bergen County residential properties along with a very strong customer base to provide clients with exceptional customer service Stress Free.
“A federal appeals court panel in the District struck down a major part of the 2010 health-care law Tuesday, ruling that the tax subsidies that are central to the program may not be provided in at least half of the states.”
http://finance.yahoo.com/news/appeals-court-strikes-down-federal-145600953.html
re # 41 – “forced to do so against his will.” So they put a gun to his head to commit all kinds of frauds?
47 – Many banks went another route towards their CRA obligations, specifically purchasing subprime MBS with the appropriate attributes. So even when they didn’t want their hands dirty, they enabled the non-bank lenders to.
Juice,
That was my exact response too. My dad said that they pretty much threatened his and the other businesses continued existence if they didn’t continue to loan to those not worthy. My dad’s words, not mine.
I have very different political views than my father. But I know he would not willingly lie to me, as I would not willingly post a known lie here.
Sorry if it sounds incredulous. But I’m pretty sure it’s true. I have no reason to believe otherwise nor does my father have any vested interested in making this kind of story up. And his friend is now stupid rich.
Plus, I don’t think his company committed fraud, nor were they even accused of it. They were required (I use this term loosely) under federal mandate to loan to those not worthy. Without the mandate, he claims he would have never considered making those loans. When all of these loans started going bust, so did his company.
Michael: good call on Plug,but when do you get out? The company has a negative PE ratio. You gambled you won. Its up again by 6% at the open
Nobody is saying CRA was the cause, but it sure as hell played an important role.
Libturd [49],
It never was about giving the “little guy” a chance at home ownership. It was always about someone making a fortune at the expense of someone else. The losers, of course, being the bag holder at the bottom of the food chain. You need a willing pawn, a ruse, a setup to successfully execute the swindle. There’s a sea of financial zombies out there and the reason why a lot of us cannot trade up.
I will not take the Passion Fruit at his word on PLUG until he tells us when he sells it.
Heck, I doubled my money in Continental Airlines back in the day in a month or so riding it from $5 to $10. I think it hit $40 within the following 6 months.
re # 4 8 – Yes but that does not mean con-artists and crooks didn’t come into the mortgage game. Just look at all of the low level scammers the Feds have been locking up over the last six years. They may not have gotten the big fish Mozilo but they sure as heck put allot of lower level cons in the pokey.
Gary,
Yes. I am aware of how much of the financial alchemy exists and how the government (the one which Anon actually believes represents us) enables it. Heck, how are the rating agencies still in business after they willfully and knowingly rated the subprime CDO garbage AAA? People should be in prison. Fortunately, they paid they paid for their get out of jail free card long before committing the crime.
And now for something completely different.
Another dastardly act committed in Hunterdon County:
http://www.nj.com/hunterdon-county-democrat/index.ssf/2014/07/bicycle_reported_stolen_from_e.html
re: 52 – No doubt CRA was a contributor to where we ended up with fog a mirror, stated income etc loans etc. Another point on dot gov and CRA. The sitting governor of NY was in charge of HUD when they went nuclear with Fannie and Freddie and started vaccumming up trillions of MBS.
My question is when will the new sausage machine start up? We need another bubble…we really really do.
I think the next bubble is the hydrogen fuel cell powered forklift bubble.
Dosen’t Hydrogen refueling equipment run at 5,000- 10,000 PSI? They are going to put that in the hands of a guys like this?
http://www.youtube.com/watch?v=KTnGZ37sZqM
Compare #60 with forklift operators in Asia:
https://www.youtube.com/watch?v=CV40KBsXmsc
LOL “As an HLF shareholder I hope he does another presentation soon.”
http://www.businessinsider.com/bill-ackman-herbalife-presentation-2014-7#ixzz38DSFytLf
WOW NEWS!!
GE getting into fuel cell game. ALL THE BIG NAMES ARE GETTING INTO FUEL CELL HYUNDAI TOYOTA HONDA NOW GE !! FANTASTIC !!
http://www.marketwatch.com/story/ge-to-build-fuel-cell-plant-fuel-cell-shares-rally-2014-07-22
this is why liberals don’t like guns
https://www.youtube.com/watch?v=Uvz6cM_LeW4
much the same reasons they don’t like a lot of things responsibility
Michael once the dinosaur juice runs out we will be back to more conventional sources of fuel to power our SUVs.
http://www.youtube.com/watch?v=kG8iR5DRLpw
So you are running a small little burrito store in a town with no competition, and even though you are expensive, you keep borrowing money, because you don’t know how to manage the store efficiently enough to attract customers and make a profit.
Suddenly, Chipotle opens up next to you and you starting crowing “FANTASTIC !!”
In my book, that make you an “idiot”.
Thanks for the respect. It’s nice for a change. I don’t see any other guys on this board providing info like that. Right now, my last buy in was at 4.83, so I am good. Even if it goes down, I will cash out at between 520-550. Wish some people listened instead of making fun of me. Your loss. You guys won’t take my advice on real estate, but you should. If you don’t think there will be a massive run on real estate in the early 2020’s, there is no hope for you. I think it’s insane to believe that real estate is dead and the cycle is over. It will rise and it will fall again, only to rise and fall again.
yome says:
July 22, 2014 at 11:58 am
Michael: good call on Plug,but when do you get out? The company has a negative PE ratio. You gambled you won. Its up again by 6% at the open
Also, “idiot”…….remember that a company and stock in the company are two separate things. So basically the company is a failure, but the stock has uncoupled itself from the fundamentals of the company. As a result, every time you point to some aspect of the fundamentals of the company to support your investment thesis, you are an “idiot”.
This thing is pure technical analysis……if you consider it in any other way, you are an “idiot”.
You are giving a lecture about this…..and I am not impressed….
http://en.wikipedia.org/wiki/Greater_fool_theory
I don’t even think it’s TA. It’s purely a momentum play with a short squeeze to boot. Though from a TA perspective, I noticed that these go down faster than they go up.
What stock hasn’t consistently made gains the past 5 years? A rising stock price is hardly an indicator that analysis was right.
$58.1 million in one year for one person
Ron Jermany says:
July 22, 2014 at 11:16 am
Bonuses at the European arm of Tudor Investment Corporation more than doubled in the last year.
According to newly-published accounts obtained by Financial News, Tudor Capital Europe allocated $146.2 million in discretionary awards to 19 employees for the year to the end of March. The highest-earning employee received $58.1 million. The article added that the figure was on top of $4.99 million in remuneration for its members.
The 12-month figure is more than double the combined $59.3 million in bonuses and remuneration given out for previous year. The surge in the combined pay and bonus pool followed a year in which revenues in Tudor Capital Europe more than doubled to $251.6 million.
“What stock hasn’t consistently made gains the past 5 years?”
US Steel
JC Penney
PLUG
FCEL
I like those last two.
“$58.1 million in one year for one person”
Bill Clinton made 17 million working 72 days in 2012. Most of those days, he spoke for less than one hour each. This works out to $212,500 per hour.
Is this OK? Do you think his fingering expertise is worthy of such compensation?
So shut the F up Anon.
Juice, Coal (which is plentiful) can also be gasified and used as a fuel.
Also The Nazi’s and the South Africans sucessfully made synthetic motor fuels from coal.
http://www.slate.com/articles/business/moneybox/2006/10/thanks_for_the_cheap_gas_mr_hitler.html
The process that Sasol uses to turn coal or natural gas into liquid fuels was first developed by two chemists working in Germany in the 1920s: Franz Fischer and Hans Tropsch. The two men died in the 1930s. But their invention was used by the Nazis to fuel the Wehrmacht and the Luftwaffe. After World War II, the vast oil fields of Arabia made it uneconomic for most free nations to pursue the technology. But South Africa, which had plenty of coal but little petroleum, wasn’t a free nation. In 1948, the newly elected National Party regime formally instituted apartheid. Two years later, it created Sasol. Aside from mining and manufacturing chemicals, Sasol set out to develop a domestic gasoline-production capability, a goal that became more urgent when many oil-producing nations refused to sell oil to the apartheid regime. In the late 1970s, using government loans, the firm built a huge complex at Secunda, where it has produced some 1.5 billion gallons of gasoline that is functionally no different than the gas produced from Texas crude.
Since the end of apartheid, Sasol has prospered, finding new markets and customers outside its borders. But with the spike in oil prices of the last few years, it has really caught fire. (Note this five-year chart of Sasol, whose shares were listed on the New York Stock Exchange in 2003, against ExxonMobil.) And that has much to do with the company’s technological promise.
Hey, looks like I just doubled my money in Microsoft and Intel, but it did take 5 years!
Arab SUV cruisin’:
https://www.youtube.com/watch?v=4fxtwHibIks
[73] Lib – Close, but no cigar.
Is this OK? Do you think his fingering expertise is worthy of such compensation?
I’ll be the idiot if it means I’m making money.
Do you know the future of this company? How can you say it’s a failure when it has been figuring out a new technology in energy use since 1998. They are obviously in the early stages. Now that they are finally seeing the light at the end of the tunnel, you are beating them down for never being a profitable company. I don’t get it. If they lasted this long (since 98), you are going to beat them down for finally getting big time contracts for their technology. I’m sorry, wal-mart is a big player. They are not going to sign a contract with a company they don’t believe in. If plug goes bankrupt in the next two years, how the hell is wal-mart going to move their products around. I know you are smart, but right now I think you are being a little ignorant.
I’m not in it for long anyway. I stated on Friday that it was going to go up this week. It has. I’m waiting fir the conference tomorrow, and if good news comes out, I’m riding it the rest of the week. Why am I an idiot for this? Because I’m being a contrarian at the right time in the market. I researched and saw an opportunity, so I took it. Told you guys about it and get called an idiot. Your welcome.
chicagofinance says:
July 22, 2014 at 1:18 pm
Also, “idiot”…….remember that a company and stock in the company are two separate things. So basically the company is a failure, but the stock has uncoupled itself from the fundamentals of the company. As a result, every time you point to some aspect of the fundamentals of the company to support your investment thesis, you are an “idiot”.
This thing is pure technical analysis……if you consider it in any other way, you are an “idiot”.
You are giving a lecture about this…..and I am not impressed….
http://en.wikipedia.org/wiki/Greater_fool_theory
78- looks like shorts are cashing out. Stock just took a tumble, but still up.
Lmao—-just saw a suburu outback with a bumper sticker stating “not a liberal”.
Arab SUV video….
http://www.liveleak.com/view?i=1e1_1298608540
How to change two wheels on a SUV without stopping
someone should tell them about the motorcycle
[81] TC – I googled arab suv two wheels just to answer my question, “Is that something they do?” and I found that same video about 40 minutes ago. Crazy.
FYI, just sold at 5.57. Will buy back in if it drops more before the bell.
Ha Ha.
http://www.nj.com/warren/index.ssf/2014/07/pa_power_plant_stops_burning_coal_but_fires_up_diesel_irking_local_nj_officials.html#incart_river
You are playing Blackjack in the Casino. The dealer has a 6 up, and you are dealt a 12. You double down and get a 9, and the dealer ends up with 18. Then you lecture me about how to play Blackjack as if you were justified in what you did……if investing was that easy and there were sure bets, then people wouldn’t lose money.
Michael says:
July 22, 2014 at 2:46 pm
I’ll be the idiot if it means I’m making money.
chicagofinance says:
Your comment is awaiting moderation.
July 22, 2014 at 3:28 pm
You are playing Bl-ckjack in the Casino. The dealer has a 6 up, and you are dealt a 12. You double down and get a 9, and the dealer ends up with 18. Then you lecture me about how to play Bl-ckjack as if you were justified in what you did……if investing was that easy and there were sure bets, then people wouldn’t lose money.
Michael says:
July 22, 2014 at 2:46 pm
I’ll be the idiot if it means I’m making money.
chicagofinance says:
Your comment is awaiting moderation.
July 22, 2014 at 3:28 pm
You are playing Blackj-ck in the Cas!no. The dealer has a 6 up, and you are dealt a 12. You double down and get a 9, and the dealer ends up with 18. Then you lecture me about how to play Blackj-ck as if you were justified in what you did……if investing was that easy and there were sure bets, then people wouldn’t lose money.
Michael says:
July 22, 2014 at 2:46 pm
I’ll be the idiot if it means I’m making money.
Looks like you just pulled the PLUG.
You made your 15%. Now run from this bit of luck as far as you can.
Run Passion Fruit. Run!
@BarackObama: “The good news is today … our businesses have added over 10 million jobs in the past 52 months.” —President Obama #ReadyToWork
Michael is a Jim Kramer disciple.
pay that short term cap gain tax!!!!!!!!!!!!!!1
Lol Uncle Sam always wins….that’s for sure
1987 Condo says:
July 22, 2014 at 3:49 pm
pay that short term cap gain tax!!!!!!!!!!!!!!1
Run Forrest, run!!! Lol
Gotta love Lady Luck! She is a fine women.
Libturd in Union says:
July 22, 2014 at 3:31 pm
Looks like you just pulled the PLUG.
You made your 15%. Now run from this bit of luck as far as you can.
Run Passion Fruit. Run!
92- * woman
“The good news is today … our businesses have added over 10 million jobs in the past 52 months”
Is Guantanamo still open?
I like how he posted legislation from the Senator on extending an existing tax credit as justification for holding the company’s stock; then posted an article regarding a competing company/technology as justification for holding the company’s stock; then said he was waiting for tomorrow’s conference call; then announced he had sold the stock.
Talk about a “contrarian” investor – he’s throwing headfakes to himself!
Wholly demonstrative of an undeveloped central nervous system.
What a fascinating speciman.
Ok, I understand your pt of view. I don’t normally do this, but this stock is golden playing the highs and lows. I’m figuring every time it goes up, the massive institutions jump in and take their mega profit, driving the price down. Then good news bounces it back up. Seems like this is the case for the past year.
It actually might be a good long term buy. They seriously seem to be knocking on the door to becoming profitable.
chicagofinance says:
July 22, 2014 at 3:29 pm
chicagofinance says:
Your comment is awaiting moderation.
July 22, 2014 at 3:28 pm
You are playing Blackj-ck in the Cas!no. The dealer has a 6 up, and you are dealt a 12. You double down and get a 9, and the dealer ends up with 18. Then you lecture me about how to play Blackj-ck as if you were justified in what you did……if investing was that easy and there were sure bets, then people wouldn’t lose money.
Michael says:
July 22, 2014 at 2:46 pm
I’ll be the idiot if it means I’m making money.
Screw PLUG this is the company I am investing in.
http://i.imgur.com/qmPKJHh.gif
It’s a volatile stock. I had to sell at the 15% profit mark. These big institutions can drive the price down quickly on this stock when they profit take. That’s what happened today. It was up over 30% in a few days, so they came for their profits.
I still think it will go up a lot tomorrow. That’s why I’m buying back in. I’m banking on good news coming out of the conference. If it’s bad news, there goes my profit. I think long-term this company will make it.
clotluva says:
July 22, 2014 at 4:19 pm
I like how he posted legislation from the Senator on extending an existing tax credit as justification for holding the company’s stock; then posted an article regarding a competing company/technology as justification for holding the company’s stock; then said he was waiting for tomorrow’s conference call; then announced he had sold the stock.
Talk about a “contrarian” investor – he’s throwing headfakes to himself!
Wholly demonstrative of an undeveloped central nervous system.
What a fascinating speciman.
Passion Fruit needs to HEL the house his grandma gave him and lever up on PLUG.
To the moon, Alice.
If you like PLUG at 1:1 leverage, you’ll love it at your margin limit.
Michael, if you started a twitter account posting a play-by-play of your latest stock picks and analysis, I would honestly follow you. 15%?!?! Whoah!
More, more, more!
Please let us all know when you get that special feeling again.
Should have went for it.
http://finance.yahoo.com/q;_ylt=A0LEVzVWzc5ToG4ANkpXNyoA?s=HLF
Jonathan Lebed anyone….
Did you ever read my posts mentioning how I was going to buy 30,000 dollar worth of Siri stock at .10, but chickened out because I believed the market was imploding to it’s death. Screw you doom and gloomers!! The reason I wanted to buy was because their satellites were worth more money than the company was worth at .10 a share. But I said if the market dies, who the hell will buy satellites. What a dumb move. Makes me sick thinking about it.
I will def let you know when I’m positive of a stock that will make a short run. Prob will be awhile, these kind of opportunities don’t come around often. I wish I put more down, but I hate doing that, feel like it’s a jinx, so I try not to get to greedy when these opportunities present themselves. Like I said, plug might go on a run tomorrow, but it’s far and away from a guarantee.
clotluva says:
July 22, 2014 at 4:38 pm
Michael, if you started a twitter account posting a play-by-play of your latest stock picks and analysis, I would honestly follow you. 15%?!?! Whoah!
More, more, more!
Please let us all know when you get that special feeling again.
104- If you have some news on some stocks that you are following and you know one of them are going to make a run, please do share. I will appreciate it.
I hope our troll can parlay his success into a full time job at Tudor Investments, so he can be self-hating 0.1%er.
Actually, I think he’s more cut out to be the next Mark Yagalla, an even more entertaining story than Jonathan Lebed’s
http://www.benjaminwallace.net/selected_work/yagalla.pdf
I’m loving Passion Fruit. He’s been right about real estate, PLUG and of course the greediness of the 1%. I wonder what he would do if PLUG went to $100. Do you think he would give some of his profits to the 99%?
I see the confirmation bias is strong within this one.
[88] anon
“The good news is today … our businesses have added over 10 million jobs in the past 52 months.”
I know, right? It’s great. I can’t remember the last time I had to wait for a barista.
[108] redux
but getting some spec metal fabrication, well, that’s a different story.
[107] libturd,
Well, its clear he doesn’t understand the wash sale rule, so yeah, he kinda is. Via the treasury.
@counternotions:
You know there’s a tear in the fabric of the universe when $AAPL does’t go down 4% right after an earnings call. C’mon people let’s do this.
at least Michael has the balls to post it.
when was the last time that, other than his anger management issues, Chifi posted an investment idea?
clotluva says:
July 22, 2014 at 4:38 pm
Michael, if you started a twitter account posting a play-by-play of your latest stock picks and analysis, I would honestly follow you. 15%?!?! Whoah!
More, more, more!
Please let us all know when you get that special feeling again.
The 15 most expensive homes for sale in the New York City suburbs
http://www.businessinsider.com/most-expensive-homes-in-new-york-suburbs-2014-7
It has to maintain $5 for 90 days for “big institutions” to want to touch it….
If it cannot maintain $5, it is generally considered a piece of crap…..it is the reason that Citigroup effected its reverse split several years ago…..
http://www.sec.gov/answers/penny.htm
Michael says:
July 22, 2014 at 4:33 pm
It’s a volatile stock. I had to sell at the 15% profit mark. These big institutions can drive the price down quickly on this stock when they profit take. That’s what happened today. It was up over 30% in a few days, so they came for their profits.
Dude, I am literally thinking of this one idea right now, and I am purposely not posting it, because I’m not really supposed to be doing that kind of thing. I cannot control what individuals here do with stuff I post……it seem like a copout, but it is meaningful to me.
As a frame of reference, it is one of many companies that are taking advantage of the energy sector in the U.S……there had already been another couple of things I have mentioned, but they are already past their strategic price point……I bought something for accounts in March, and it had split and is up 50% to date. My colleague actually bought it last year for about 2/3 of what I paid.
anon (the good one) says:
July 22, 2014 at 6:17 pm
at least Michael has the balls to post it.
when was the last time that, other than his anger management issues, Chifi posted an investment idea?
ChiFi: your call on TRN was pretty phenomenal. Though, few here pay attention.
Some of us only pay attention to twitter.
anon (112)-
Last time I checked, licensed financial professionals can’t really throw out stock tips on a blog. Please attend to the water on your brain.
“when was the last time that, other than his anger management issues, Chifi posted an investment idea?”
Maybe chi knows somebody who can find annoying little gnats and crack their kneecaps.
Then again, I guess Jim Cramer has made several fortunes subjecting us all to his mental diarrhea presented in blog form.
While Cramer made zillions, Martin Armstrong rotted in a Fort Dix cell.
All the ordinary rules of warfare are upended in Gaza. Everything about this conflict is asymmetrical—Hamas wears no uniforms and they don’t meet Israeli soldiers on battlefields. With the exception of kaffiyeh scarves, it isn’t possible to distinguish a Hamas militant from a noncombatant pharmacist. In Vietnam, the U.S. military learned guerrilla warfare in jungles. In Gaza, the Jewish state has had to adapt to the altogether surreal terrain of apartment complexes and schoolhouses.
There are now reports that Hamas and Islamic Jihad are transporting themselves throughout Gaza in ambulances packed with children. Believe it or not, a donkey laden with explosives detonated just the other day.
The asymmetry is complicated even further by the status of these civilians. Under such maddening circumstances, are the adults, in a legal and moral sense, actual civilians? To qualify as a civilian one has to do more than simply look the part. How you came to find yourself in such a vulnerable state matters. After all, when everyone is wearing casual street clothing, civilian status is shared widely.
The people of Gaza overwhelmingly elected Hamas, a terrorist outfit dedicated to the destruction of Israel, as their designated representatives. Almost instantly Hamas began stockpiling weapons and using them against a more powerful foe with a solid track record of retaliation.
What did Gazans think was going to happen? Surely they must have understood on election night that their lives would now be suspended in a state of utter chaos. Life expectancy would be miserably low; children would be without a future. Staying alive would be a challenge, if staying alive even mattered anymore.
To make matters worse, Gazans sheltered terrorists and their weapons in their homes, right beside ottoman sofas and dirty diapers. When Israel warned them of impending attacks, the inhabitants defiantly refused to leave.