So we have new facts that have come to light in the Jon Corzine / MF Global scandal. After a day of Senate “I don’t know / I didn’t intend” testimony (or should we call it “intendimony?”) we learn that an auditor for CME learned that Corzine knew of customer funds being used to collateralize…
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Corzine Testimony Christmas Carol
by Cody Penn Dent • • 0 Comments
Jon Corzine’s testimony could have been sung as a Christmas Carol: (Sung to “God rest ye merry gentlemen”) I guess you clever gentlemen Are wondering what I’ll say. Will I cite the 5th amendment Or did I come to play? Well I will tell you everything On this December day. You see, I don’t remember…
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Mr. Parasite Goes To Washington
by Cody Penn Dent • • 6 Comments
We all know the story. An energetic, successful person from industry sets off to use his skills as a reform minded public servant. Voters’ imaginations are captured by the opportunity to have someone of proven ability transform government, forge better policy and make it more effective at spending our resources. Now we know the sadistically…
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Ring in the Holidays!
by Cody Penn Dent • • 0 Comments
While market robots find ways to make the most options contracts expire worthless today, allow me to bring you some early holiday cheer, a new holiday carol to share with friends and family! I have bet that the Santa Rally won’t materialize this year. One factor I didn’t mention is liquidity: we are soon likely…
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That 70’s Market
by Cody Penn Dent • • 1 Comment
If you have read The Wall Street Examiner you have read Lee Adler comparing the trading pattern we are under to 1973: where seasonal “go to” trades lost money; where the Santa Rally was cancelled after the October rally fooled everyone.
