Fish Gone Bad

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  • The Lending Lunacy Continues as GMAC Gives Out More Bad Loans
    I enjoyed the article.

    Eternitus' comment is great -"Lots of people with credit scores in the 600s want loans. Most of that group (unfortunately) is not exceptionally good at paying the loans back."
    Jan 01 14:52 pm |Rating: +2 0 |Link to Comment |View article
  • Another Big Bank Failure: More Likely Than Not to Occur
    Reggie,
    Thank you once again for the time and effort you put in, trying to actually help people become better investors.

    The sad truth is that things are going into the toilet (seekingalpha.com/artic...). As more and more people lose their homes, they sell whatever they can. People cut back where ever they can. They sell cars, homes, liquidate their IRA's and 401K's, and even pile on credit card debt. Perhaps it is because these impending defaults are so horrific that people refuse to believe them. An environment of "stuff blowing up" is not healthy for banks, brokerages, or people's livelihoods.

    Right now there is a great deal of volatility and plenty of money to be made on either side of being long or short.

    Clark Jenkins
    FishGoneBad.com
    Jan 01 13:01 pm |Rating: +3 -1 |Link to Comment |View article
  • Market Calls I Got Right - and Wrong - In 2008
    I learned a while ago that I needed to able to outlive my mistakes. I do not buy on margin. If I buy a stock in a company that I like and it goes down, I will not have to suffer the insult of a margin call.

    There is a time to own, and a time to not own most things. It is very important to have a plan BEFORE you make a stock purchase. This takes a lot of the emotion out of the transaction.

    Clark Jenkins
    FishGoneBad.com
    Dec 28 17:36 pm |Rating: +1 0 |Link to Comment |View article
  • How We Can Avoid Another Tragic Ponzi Scheme
    "the investment game is rigged and they do not have a chance."

    This is simply not true for the individual investor. Investors can now own either side of the market using long or short ETF's.

    I really hate to say this, but this is really pretty obvious.


    Clark Jenkins
    FishGoneBad.com
    Dec 28 16:24 pm |Rating: 0 0 |Link to Comment |View article
  • Cramer's Lightning Round - The Most Dangerous Stock for 2009 (12/23/08)
    I find Cramer very entertaining, just like tele-evangelists.

    The next 6-8 weeks should be very bad for the stock market. The Santa Claus rally did not happen, banks are just as bankrupt as they were in September, and more and more people are losing their jobs (and homes).

    The stock market is a blood sport. There are winners and losers. The best way to be a winner is to do your homework, watch the market, and learn from your mistakes.

    Clark Jenkins
    FishGoneBad.com
    Dec 27 02:34 am |Rating: 0 0 |Link to Comment |View article
  • Beware, 'Quantitative Easing' is Hallucinogenic
    Thank you once again for the impressive work. This took a great deal of time and effort. I look forward to putting this information to good use.

    Clark Jenkins
    FishGoneBad.com
    Dec 20 16:54 pm |Rating: +1 0 |Link to Comment |View article
  • Managing a Portfolio in a Bear Market
    Perhaps someone important will actually read this someday. Here is how to manage your portfolio in a bear market. Do your homework. You plan for the major currencies, you plan for McClellan, you plan for absolute poverty and you plan for wealth. I am not done. You plan for family asking for help. You plan for friends asking for help. You plan for **the world coming to an end**.

    That said, look around you. What is out of place and why is it out of place? If you can not figure this out, I am not your 7th grade teacher (Isn't this the time everyone became aware of why they were different? (in America)?)
    Dec 07 02:23 am |Rating: 0 0 |Link to Comment |View article
  • A Smaller World
    I can only say this in a non-suck-up way. Smarty_Pants beat me to the point. Does anyone really care about anything outside of their pocketbook? Africa still has malaria, AIDS is still rampant, as is starvation and homelessness. Only this time (and I need to emphasize this), the new players will care even less about anything outside of their declining circles of influence.

    Have you ever been to China? Everything is on the table, including household pets.

    Clark Jenkins
    FishGoneBad.com
    Dec 07 01:57 am |Rating: 0 0 |Link to Comment |View article
  • Peter Schiff on Gold, the Dollar and Asian Markets
    Norman: The total value of gold ever mined since the beginning of time is $4.3 trillion. The global economy is $60 trillion. Are you suggesting that we should cut the global economy by what, $56 trillion?

    This is an interesting, yet wrong, observation by Norman. Money can be anything. Shells, feathers, even paper. The correct way to have said this was, "The total amount of gold ever mined since the beginning of time is xxx tons. The global economy is $60 trillion. Are you suggesting that we should equate these two values?"

    There, that makes a lot more sense.

    Always trying to be helpful,
    Clark Jenkins
    FishGoneBad.com
    Dec 06 22:34 pm |Rating: 0 0 |Link to Comment |View article
  • Understanding the Recession
    To understand the current world predicament, I would suggest "The Money Masters". Once you get to know the players and the business cycle game, everything really falls into place.

    There are three (maybe four), powerful things central banks want:
    1) Consolidation of banking power.
    2) Buying up important distressed assets at fire-sale prices.
    3) Gold.
    4) (maybe) Oil and oil companies.

    In the Great Depression of the 1930's the central bank shrank the money supply and made life very difficult to conduct business. That is happening now. Take a look at the Baltic dry ship index. Commerce moves on letters of credit. No credit, no commerce.


    Clark Jenkins
    FishGoneBad.com
    Dec 06 12:50 pm |Rating: 0 0 |Link to Comment |View article
  • Can Central Bankers Prevent a Great Depression?
    Gary, you are a gifted and insightful author. Thank you once again for the excellent article.

    For those people who are having a problem seeing an answer, take a look at some of the comments. Our monetary system is debt based. As long as countries are willing to accept our debt as payment there is no problem. Now take a look at the very first picture Gary posted, The Baltic Dry Index. Saying that it fell has plunged 11-fold sounds like more like a statistic than a frightening fact. What this means is that commerce is not moving.

    As there is no commerce going on, there is a depression.


    Clark Jenkins
    FishGoneBad.com
    Nov 22 18:47 pm |Rating: 0 0 |Link to Comment |View article
  • UltraShort ETFs: At a Tipping Point?
    For any (time) bots out there, Grandpa Nido predicted this a very very long time ago when he used to deliver fuel oil to homes.

    Thank you grandfather Nido, thank you mom. I wish the two of you could be here now.

    Clark Jenkins
    FishGoneBad.com
    Nov 17 01:13 am |Rating: 0 0 |Link to Comment |View article
  • Bullion Shortage and Spot Prices Tell Two Different Gold Stories
    How can gold gold be in high demand and falling in price? This is how, it was told to me in a joke many years ago.

    A woman walks into a butcher shop and sees that pork chops are $4/lb. She goes off on a tirade. "$4/lb?, $4/lb?, $4/lb? The butcher down the street has them for $3/lb!"

    The butcher, obviously miffed, responds: "Then go buy them down the street."

    The lady: "He is out of $3/lb pork chops!"

    The butcher: "When I am out of pork chops, they are only $2/lb."

    The lesson here is that if you can not buy something, it can be any price the seller wants. You still can not buy it, and the seller still can not sell it.

    So what does this really mean? It means "someone" is lying. Gold is either available, or its price is really much higher. Since some people can not apparently buy gold, it must mean that its value is much higher.

    It would not surprise me in the least to see gold prices plunge by 30% as governments try to manipulate the weaker hands to sell their gold positions.

    Clark Jenkins
    FishGoneBad.com
    Nov 16 12:02 pm |Rating: 0 0 |Link to Comment |View article
  • Is Gold A Sucker's Bet?
    Wow, so many comments. I still need to leave a note though.

    Inflation is caused by an increasing money supply. The major nations around the world have all pumped trillions of dollars into their economies in an effort to stop the depression from happening. If you go to the grocery store, things are more expensive now. Even salt costs more.

    I can only guess at why people think we are in a deflationary period. Perhaps it is because desperate people are selling their belongings for whatever they can get. Perhaps it is falling prices for houses.

    If you can not buy gold, then go to your local discount store and buy some canned goods (of food you like to eat). If there is something you have been planning to buy and have been putting it off, please go and buy it. Everything will soon be more expensive.

    While I am on my soapbox, this will be the last decent Christmas for a very very long time. I say this because China fills up container ships with inexpensive goods and we give them paper IOU's we have no intention of honoring. China will eventually want to paid in something of real value. With a new administration starting in January, I am thinking we have another 2 months before China cuts off the American consumer.

    Clark Jenkins
    FishGoneBad.com
    Nov 13 01:59 am |Rating: 0 0 |Link to Comment |View article
  • Program Trading, Dark Pools and Gold
    Thank you for the wonderful article. I am fan of buying when everyone is scared. The oil sector's dividends are quite attractive right now.

    Clark Jenkins
    FishGoneBad.com
    Nov 13 01:01 am |Rating: 0 0 |Link to Comment |View article

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