Investor.Gambler.Economist.: Notable Headlines Archives

Couple of Updates

By Philip K. on October 6, 2009 2:08 AM | 0 Comments

*MGM slashes CityCenter condo prices by 30%. Good move. (Bloomberg)

*Just like that --poof-- I will have to officially end my two day recommendation of longing the S&P by today's closing price. I'll consider Monday's 1%+ gain good enough. According to my system (you should be suspect whenever anyone mentions system), the market inefficiency has been quickly corrected. This doesn't mean I'm short. I'm definitely still long, but that's for various reasons that I just don't want to get into right now.

*The possibility of war with Iran is very real. Intrade has a proxy-ish estimate of about 7%. By my definition, an air strike against Iran is war. That old saying about war being good for the economy was a fluke of an instance to describe World War II. Any war with Iran will be bad for this fragile market and economy.

*Fuck you Robert Benmosche. AIG's CEO is thumbing his nose at the US Government. (Money). The problems of moral hazard has just got worse. Freerolling on limited liability and government guaranteed programs has lead to an unchangeable culture of moral hazard. 2008 Credit Crisis, LTCM, Bear Stearns. We'll be seeing these events again, if Bob's attitude is representative of other executives.

Notable Headlines - Obama Said It

By Philip K. on June 15, 2009 11:16 AM | 0 Comments

Obama says America could "go the way of GM" without a legislative fix to healthcare. (AP)

Notable Headlines 5.26.09

By Philip K. on May 26, 2009 2:51 PM | 0 Comments

Congratulations to Judge Sotomayor. Everyone's talking about it. I'm talking about it. I'd like to see the Republican party spend what's left of their political capital on fighting this S. Court appointment. (LA Times) Psst. Obama. Where's the Asian justice?

California's Prop 8 upheld and will be appealed to the S. Court. Maybe Sotomayor will be on this case when it gets taken up. (LA times) The Prop 8 opponents have a tough battle on their hands. Tyranny by the majority, I mean majority decision, is usually permissible except for religion. I'd hang the line for 90% chance that Prop 8 either will be upheld or the S. Court won't hear the case.

Biggest firework show ever for Vegas. (KVBC) Right in time to celebrate the good news coming out of Vegas. Uhh, less houses being foreclosed upon in Las Vegas might constitute good news.

Obama is paying a visit to Caesars Palace for fundraising tonight. (ABCnews) If I learned anything from Wesley Snipes it's to "Always bet on black". I wonder if Caesars will dare or have time to rough up any advantage players tonight?

Notable Headlines 4.30.09

By Philip K. on April 30, 2009 8:45 AM | 0 Comments

*Disappearing casino gambling ship off the coast of MA. (Boston) Spooky.

*Disney joins Hulu. (Reuters).

*IBM to use computer as a contestant on Jeopardy. (PCMag). If you can program a computer to (1) learn from its mistakes and (2) to reproduce, evolution will take care of itself and we'll have silicon based life.

*Rich people feel guity about buying luxury stuff in today's bad economy. (USA today)

Notable Headlines 4.26.09

By Philip K. on April 26, 2009 10:20 AM | 0 Comments

*China wants to have it both ways. It wants to criticize Japan's indirect endorsement of wartime atrocities, but does not want the Dalai Lama visiting the US. (NYTIMES)

*The People's Republic of Taiwan. Relations are warming with China and Taiwan. (WSJ)

Making a lot of money together solves a lot of problems for many people.

*Barney Frank is going to put up a new fight for legalized online gambling in the United States. (NYTIMES)

*Is this leaked draft of a bill for online poker in California? (2+2)

Notable Headlines 4.21.2009

By Philip K. on April 21, 2009 8:08 PM | 0 Comments

*Addicted: When gamers become gamblers.(CNET)

*Nevada wants to ease public smoking bans. The fight probably funded by the Nevada casinos. (NY TIMES)

*Bodog regains domain name from when they were jacked by 1st Technology. (PTP)

*People in New Jersey want sports betting. (Associated Press)

Notable Headlines 4.19.2009

By Philip K. on April 19, 2009 10:27 AM | 2 Comments

*The New York Times tackle the idea of negative interest rates. (NY Times)

Must be a slow news day. In just about every entry level economics course, someone asks if negative interest rates are possible to spur immediate lending. The hypothetical of vaporizing 10% of the money randomly every year should, according to them, approximate negative interest rates.

There are some things that work at the theoretical level and not in the physical word. With such a crazy monetary policy, people would just dump the dollar for other currencies or gold. The dollar would be devalued and the prices that Americans pay for everything would go up. Remember that we compete at the international level for raw materials and goods.

The New York Times should more carefully screen their submissions.

Notable Headlines 4.15.09

By Philip K. on April 15, 2009 5:40 PM | 0 Comments

It just wouldn't be the same without me at least mentioning tax day.

*Freebies for tax day. Still not too late for some people. I still got one hour to get myself a free Cinnabon. (CollegeNews)

*Mass. just might get its casinos. Bill being debated. When a state is desperate for cash they'll turn to anything to get revenue. (Boston.com)

*Golfer Singh wore ponzi clothing at the Masters. (NYPOST)

I hate pyramid schemes, unless it's mine.

*CPI measures slight deflation. (Associated Press).

Somebody once asked me, "Aren't cheaper prices a good thing for consumers?" Good to the extent that they get to buy the good cheaper. Bad in the sense that it means the entire economy is slowing down and shrinking. Slowing economy means greater risk of losing their job or what not.

Non-Sequiturs

By Philip K. on April 13, 2009 10:51 AM | 0 Comments

*Ruth Madoff has been banned from her hair salon. (NYPOST). Investors can't recover their money, but at least she got hers. Scandalous.

*Former Ivory Soap model who became adult film star dies. (LA TIMES)

*Family man Mel Gibson's wife files for divorce after 28 years. (LA TIMES). What can cause a person, married for 28 years, to suddenly realize that they want a divorce? What business of mine is it to pay attention to a couples' private affairs?

Notable Headlines

By Philip K. on April 8, 2009 10:27 AM | 0 Comments

* Seeking to restore investor confidence in the markets, securities regulators made everal proposals on Wednesday that would restrict

investors from betting on a stock's decline at specific times. NYTIMES

*Poker is better than Yale Law School. ABOVETHELAW

I'd have to agree with the poker player versus law school. For some of the smart people who can get accepted into good law schools, they've probably got the chops to tackle the poker world. Poker players can grind from the ground up. Lawyers would have to start off with 100K+ in the hole and work almost double the hours for the same annual pay.

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