Where is Mike Mayo and his Seven Deadly Sins of Banking?
"The seven deadly sins of banking include greedy loan growth, gluttony of real estate, lust for high yields, sloth-like risk management, pride of low capital, envy of exotic fees, and anger of regulators."
Boy, listening to that call, worked real well didn't it???
Where is Meredith Whitney warning us about the credit contraction?
Or how about her warning us about the impending doom of the financial system, and that these stocks would go lower on March 17?
Or how about the other 30% down that housing was supposed to take? Wasn't that supposedly the "headfake of all head fakes?"
Boy, listening to those calls, worked real well didn't it?
How come CNBC hasn't dressed up Meredith, and trotted her out, to cost you some more money?
Have they taken their bearish reigns and thrown them over to PIMCO? These guys seem so concerned about your financial health, but they're not concerned about the health of the economy!
So I'll give you the antidote for PIMCO!
Mr. Webb of Caddyshack!
We know Bill Gross loved his Z stamp, because the Z kept the stain of the cancellation on!
And we also know, that Chevy Chase, was named for the Ballad of Chevy Chase; in Northumberland. The ballad was as beautiful as the land.
But Northumberland had it's own "Stamp Stainer." He would heal the maladies of sprains and swellings by stamping on them with his foot.
So now we get the PIMCO stamp! Furiously stomping on any green shoots, when they should "just be the ball!" It's hard to find the center when your leaning the other way with blindfolds on.
We should all follow Mr. Webb's advice:
"There's a force in the Universe that makes things happen...And all you have to do is get in touch with it."