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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Challo Jeregy who wrote (13307)	8/2/2012 11:01:11 AM
From: ggersh	4 Recommendations Respond to of 33421

How come all hedge fund guys are legends?

To: Challo Jeregy who wrote (13307)	8/4/2012 8:33:45 AM
From: John Pitera	1 Recommendation Read Replies (1) \| Respond to of 33421

he took $25,000 his aunt left him and parlayed it into a $10 Billion plus fund. He had some spectacular returns along the way. When these guys are all scaling back and leaving due to regulatory reasons and also there is this notion that circulated the past several years that the Machines have taken over and the computer programs and algorithms are running the show these days. I recall Ron Insana musing about that around July 4th 2 years ago after the may 6th Flash Crash. John

To: Challo Jeregy who wrote (13307)	8/4/2012 2:54:44 PM
From: John Pitera	2 Recommendations Respond to of 33421

Markets are toast as Louis Bacon plans to give back 25% of his fund to investors as "liqudity and opportunities have become more constrained." As Bloomberg notes, Bacon is struggling to make money in his typically macroeconomic trend exploiting fund as "the risk on / risk off environment appears to be an abiding presence that has keep engagement low." Macro funds lost an average of 1.3 percent in the first six months of the year. Bacon, pointed out that "Markets are increasingly distorted by central banks’ attempts to squeeze drops of growth from an over-indebted private sector across much of the developed world." *The U.S. markets are hindered by "a caustic political environment and an anti-business administration," he said.* U.S. banks have retreated from making markets in many securities because of the Dodd-Frank legislation, which limits them from trading for their own accounts. Bacon added that 'in some Kafkaesque absurdity,' the rule is "named after the two high protectors from regulatory oversight of perhaps the most egregious of U.S. financial miscreants, Fannie Mae and Freddie Mac." Bacon pulls no punches as he goes after inept regulators in Europe and the US, and andthe state of affairs as "Disaster Economics, where assets are valued based on their ability to withstand a lurking disaster as opposed to what they may yield or earn, is now the prism through which investors are pricing markets." And perhaps most 'distorted' is the credit market where trading in individual corporate credits has also been 'decimated' he said. the Grand Slam qoute: r"I shudder to think of the stress that is going to occur during the new credit liquidation cycle."

To: Challo Jeregy who wrote (13307)	8/17/2012 5:07:42 AM
From: John Pitera	12 Recommendations Read Replies (4) \| Respond to of 33421

MF Global and Corizine not getting punished..... unbelievable...... what a huge sham and crime... Rick Santelli from cnbc interview. the new york times reporting this morning that former mf global *ceo jon corzine* *likely will not face charges. rick santelli as you know watching this from the very beginning and interested to hear your thoughts when you read this type of headline, ricky. yeah. you talk about being afraid and getting surprised on halloween. that was just a horrible, horrible scenario. halloween of last year. and as i look back and talk to* *traders, they're so* *disappointed. they're so upset. but yet, they're not in a state of despair. james catulis doing this pro bono that represents lily thousands of mf customers said he is not, n-o-t not going to give up on pursuing a criminal indictment in court.* i think down here right or wrong that what comes out is two fold. if you think about it in a cross benefit analysis it seems to cost companies a lot with absolutely zero benefit and at a time discussing the blanks of dodd-frank and hits to the heart of the matter. always fighting the last war. always doing too much with regard to writing these and they never seem to accomplish what they're supposed to. so many traders down here thought that crashing the plane loaded up with customer money in to a mountain would garner a criminal prosecution. 65 congressmen in the house signed a petition trying to get the department of justice to appoint an independent investigator. it is not happening. anthony scarmucci, he woe him on cnbc with sky bridge capital. all over business insider website today thinking corzine is a trader and a gentleman and giving money to a hedge fund and scott delacey here on the floor and the thoughts are different. what were your thoughts when you heard it today? well, i said not only maybe will i get my money back but the fact that the three months of work lost and commissions, i wish i was in his club. yeah. no. jon corzine is an ex-senator, ex-governor. *well connected. i walk away thinking if you're* *one of those elites you're above the law. back the you.* also if you have been running Goldman Sachs you have the immunity to redirect ( yes basically steal segregated customer funds, ) and get away with it....... oh and you have a guy who's been a chief bundlers of mega funds for Obama. A very shamefull episode. John