Hi kb,
Re: I guess my first cut at trying to understand an area I haven't dealt with before seems to throw off a lot of smoke and dust. Is there better visibility for these stocks than first appears?
The bloom is off this rose. The handwriting is on the wall. And the handwringing begins. Just look at what Gretchen Morgenstern wrought on CPN with her Sunday pis.. in the NYTimes:
Message 16767349
If you aren't discouraged by the duplicity and/or alliteration of Arthur Anderson, then you haven't a clue what's about to happen (though I know full well you got an inkling). Recall that AA has made a total windfall in consultancy services, creatively crafting cunning, concocted, crenellated connivances, calls and crucial conundrums of 'countancy for a massed multiplicity of mawkish maurauders in the mercurial marketing of energia. But a surfeit of supply renders all the daunting, daring, disturbing, distressed, dastardly, devilish divinations of doctors of dour (and sour) gas dispensation for naught. Alas, an entire industry done in by good weather. What a pity, what a crying shame. Blame it on global warming. Everyone else seems to want to....
Re: Is it possible that the level of scrutiny these guys are going to have to go through will reveal similar fun 'n games in the utility industry as a whole?
Nope, Montana Power got off the bus. Though I'm particularly keen to follow the Artful Andersum line 'o bull-oney, straddles, spreads and swaptions. The firm has a grasp on the derivatives business like few others. Making it a commonality in publicly traded companies that are likely to crater. Or merely pancake.
JMHO-Ho-Ho Merry Christmas, R. :) |
