Flophouse News - 2008-11-19

Been awhile since we've heard any news around this joint. Been jonesin' to hear who's riding the rails and who's been sleeping off hangovers in the big house? Here's an extended edition to catch you up on all the news.

  • Silent Congress Best For Stocks? at IBD – Talk about crooks in a big house! To sum it up in the words of young River Tam: People don't like to be meddled with. And neither do markets.
  • Deflation: the new threat at CNN.com – Last week it was inflation. Next week it'll be stagflation. In a month or so, we'll round the bases again.
  • UAW pressed for sacrifices at The Detroit News – What?! Unions have to give up some of their power too? But they're the people, and they do all the work! Oh, right, if GM, Ford, et al go under, they won't have any jobs. Hmmmm....
  • Market Bottom? For Some Investors, It’s Close Enough at The New York Times – The reason Graham and Grantham are buying is because they can get deals that nobody else can. When you buy 10-15% below current value for a stock (the actual price isn't that low, but because it's preferred stock with guaranteed returns, it's effectively that low), then you can have the cojones to call a bottom while others still have a ways to fall if they buy in now. Not saying these guys are dumb or wrong – just that they have opportunities none of the rest of us have.
  • Financial Reversals at Reason – Everything that happens is bad. Woe be us.
  • Will The Markets Be Higher Ten Years From Now? from Meridian Business Group – Maybe this declaration from The God Buffet will finally convince The Motley Fool that 11% annual returns are not guaranteed, even over the long term.
  • [Mark Cuban responds to] The SEC from blog maverick – Cuban goes ballistic Wyatt Earp-style (the Kurt Russell Earp, not the Kevin Costner Earp) on The SEC, telling them: You suck!

And that's all for now folks. Enjoy!

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