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Sunday, November 8, 2009

How the other half lives


Thousands of people  lined up for H1N1 flu shots at the Santa Clara County Fairgrounds, waiting four to six hours for their shot.

Reporters on the scene said no-one in line worked for Goldman Sachs.

7 comments :

Anonymous said...

I wouldn't want those scam shots. Even the creators of the swine flu vaccine didn't want to take it.

Anonymous said...

I don't get it, this is just another flu that people get. You get sick and feel like shit for a day or two but then you get better. If you are really young or old and get it then tough shit and welcome to life.

I think the drug companies just wanted to make a crap load of money off this!

Anonymous said...

Palmoni...since the floorless convert for the columbian company isn't going to happen....the comp that shorted and covered...i assume we'll never see the 4's again...and 8's are here to stay?

it trades so thin that unless someone sells at anything below 8 it really should never get below that number right/?

am i missing something/?

Anonymous said...

No surprise there. The play book is to create a pandemic scare once in awhile and everybody lines up to get scam shots. Then they become subservient and the next time another scare happens, they line up again. No thinking needed.

Anonymous said...

Palmoni,

what are your thoughts on GCI , MGM, LIZ, and CNO going forward?

Palmoni said...

That seems right to me also...

I think all those names are going higher...we just had a good correction in small caps, and now it looks like they are trying to rotate in the bigger names..but they'll pick these up

Palmoni said...

On MGM--Goldman had this to say this morning:

We are raising our MGM estimates following the 3Q beat ($0.01 vs. our $(0.05) estimate). Trends came in
somewhat better than expected, so we are building in some improvement over our previous estimates. Our
new EPS estimates for 2009-2011 are $(0.24), $(0.30), and $(0.08), respectively, versus our previous
estimates of $(0.29), $(0.50), and $(0.26). Our 2010 quarterly estimates are $(0.09), $(0.08), $(0.06), and
$(0.07) versus our previous estimates of $(0.16), $(0.13), $(0.12), and $(0.09). Our core Las Vegas EBITDA
estimates are going up 1% per year compared to our previous estimates. We also increased our Macau
operating income estimates (to $75 mn for 2010 from $18 mn previously) after the property did $24 mn in 3Q
operating income (MGM’s share) versus negative income on that line for the past three quarters.
-----

Why that's important is because GS has been exceedingly bearish onthe casinos and has only been dragged kicking and screaming in that camp

couple that with the $4 dividend from WYNN, the big raise coming by LVS --close to $3.9 billion in Macau--and you have a better outlook then the bears envisioned