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September 21, 2006
Cara's Daily Planet, Thurs., Sept. 21, 2006, 5:52 AM
Readers are invited to link and discuss published articles here. The interest of readers of this thread is in preserving capital through media awareness.
Amaranth main funds lost more than $6 billion so far (~65 pct). Industry players (probably those who made the bulk of the profits on the other side) now are lined up to buy Amaranth. Same thing happened with Refco. The public will likely never be told the facts behind this crash because it is in the financial services industry's interest to keep the whole affair under wraps, else there be even more demands for regulation. At the end of the day, the handling of Long Term Capital Management, Refco and Amaranth by the Administration, Fed and HB&B give me the evidence I need to back up my statement that the U.S. capital market system is a rigged market that will ultimately collapse because of loss of confidence by the majority of global owners and managers of capital. The system is in crisis and independent media have an obligation to society to investigate and report on this.
Since Amaranth Natural Gas trader Brian Hunter is a Calgarian, born, bred and resident, the major Canadian print media (Toronto Star and the Globe and Mail) are full of stories related to Amaranth.
For those who want to read the Trader Monthly article on the incomes of the top traders of derivatives, here is a link. For those who think Brian Hunter was too highly paid in the $75 to $100 million range (2005, probably more this year), he was listed as tied for 29th. Check out the Top Ten.
Posted by Posted by Bill Cara on September 21, 2006 05:52:40 AM | Category: The Daily Planet
Discourse
Toyota plans no mercy toward US Automakers.....
Posted by: cb ![[TypeKey Profile Page]](http://www.billcara.com/nav-commenters.gif)
at
September 21, 2006 7:19 AM [link]
Hedge Fund's Collapse Met With a Shrug
Amaranth's Loss in Natural Gas Gamble Not Seen as Affecting Broader Market
By Steven Mufson
Washington Post Staff Writer
Wednesday, September 20, 2006; Page D01
http://www.washingtonpost.com/wp-dyn/content/article/2006/09/19/AR2006091901388.html
"The major damage is expected to be felt by people WEALTHY enough, and FOOLISH enough, to have invested in Amaranth."
"There's no systemic risk. The market can absorb this," said Peter Fusaro, co-founder of the Energy Hedge Fund Center, which tracks 520 energy hedge funds. "It's a hiccup."
Posted by: oratier at
September 21, 2006 7:21 AM [link]
Workers to Get Their Pick of Dental, Vision Plans
By Stephen Barr
Thursday, September 21, 2006; Page D04
http://www.washingtonpost.com/wp-dyn/content/article/2006/09/20/AR2006092001929.html
Posted by: oratier at
September 21, 2006 7:22 AM [link]
Calif. Sues Six Automakers Over Global Warming
By Sholnn Freeman
Washington Post Staff Writer
Thursday, September 21, 2006; Page D02
http://www.washingtonpost.com/wp-dyn/content/article/2006/09/20/AR2006092001064.html
Posted by: oratier at
September 21, 2006 7:24 AM [link]
Wall Street seen firm after Fed's dovish words
By Marie Maitre
Reuters
Thursday, September 21, 2006; 6:30 AM
http://www.washingtonpost.com/wp-dyn/content/article/2006/09/21/AR2006092100249.html
Posted by: oratier at
September 21, 2006 7:28 AM [link]
Oil Prices Rebound Slightly
The Associated Press
Thursday, September 21, 2006; 7:14 AM
http://www.washingtonpost.com/wp-dyn/content/article/2006/09/21/AR2006092100133.html
Posted by: oratier at
September 21, 2006 7:29 AM [link]
INDICATIONS
U.S. stock futures point to further gains post-Fed
Tribune to hold key board meeting; Cisco gets broker upgrade
http://www.marketwatch.com/News/Story/Story.aspx?column=Indications&siteid=
Posted by: oratier at
September 21, 2006 7:32 AM [link]
Re: "Hedge Fund's Collapse Met With a Shrug"
The remarks made by the the co-founder of the Energy Hedge Fund Center are self-serving and laughable.
My question is why would a Washington Post reporter go to a party with a vested interest to get an objective quote. This isn't investigation; it's pure spin.
Big Media has to make a decision: Are you going to represent independent and objective media or are you going to be shills for your advertisers.
I suggest that independent bloggers are gaining audience as fast as traditional media is losing it -- for a reason. Their readers are fed up being spun.
Posted by: Bill Cara at
September 21, 2006 8:11 AM [link]
Violent clashes and massive roadblocks by city traders brought the national capital to a standstill on Wednesday as protests against the sealing drive intensified.
http://o3.indiatimes.com/mytimes/archive/2006/09/20/1681193.aspx
Don't think America has cause for immediate concern, competition-wise, from one of our renown trading partners. They are stiil in the intermediate stages of developing even an efficient market. Wonder what the reaction would be worldwide if this sort of unfortunate event occurred on or near Wall Street?
Posted by: oratier at
September 21, 2006 8:21 AM [link]
I don't know if you did see the first segment of Jim Cramers show last night. I found it revealing.
Cramer was predicting that the Reps -- contrary to polls -- might not lose the control of the Congress in November. But if they would, it would be bad for the little people. He used as an example the pharma stocks. Your Cara 100 MRK or PFE stocks would sink like a rock if the Dems win, Cramer was predicting.
There even would be a big chaos in the Congress and the amdinistration, because every stone would be turned by the Dems, investigators everywhere, nothing would be like it was before.
This is revealing, because Cramer is a Democrat, so you could assume that he would welcome a victory of hiss own party. But aside ot that: His message is clear. People should not vote for a change, because they chaos in Washington would even be bigger and therefore stocks held be the little people would suffer.
I would not be surprised to hear this argument more and more, and the current runup in the stock market might have something to do with it.
Posted by: tinman at
September 21, 2006 9:02 AM [link]
Experts think the Fed could be finished raising U.S. interest rates
The Associated Press
Published: September 21, 2006
http://www.iht.com/articles/ap/2006/09/21/business/NA_FIN_US_Fed_Interest_Rates.php
Posted by: oratier at
September 21, 2006 9:14 AM [link]
Crystallex Story: a good recap
http://www.stockhouse.ca/bullboards/viewmessage.asp?no=13134626&tableid=0
Posted by: JogyP at
September 21, 2006 9:16 AM [link]
ECB report: In the week ending 15 September 2006, the decrease of EUR 499 million in gold and gold receivables (asset item 1) reflected the selling of gold by three Eurosystem central banks.
Posted by: Seamus at
September 21, 2006 10:30 AM [link]
Updated September 2006 report on the U.S. housing market.
Go to the bottom right corner and look for the heading "Housing Valuation Analysis."
http://www.nationalcity.com/corporate/economicinsight/default.asp
Posted by: Todd at
September 21, 2006 10:51 AM [link]
Posted by: MarkM at
September 21, 2006 12:36 PM [link]
Assume agreement that the "system is rigged," and that it should "ultimately collapse." I don't see anyone suggesting the replacement. Where can trillions of available capital go? If we didn't collapse under hundreds of billions in losses with the S&L crisis, how do we collapse from the "bar change" of a few billion in hedge fund losses. The H&BB crowd can cover that with their visa cards.
Posted by: Rab![[TypeKey Profile Page]](http://www.billcara.com/nav-commenters.gif)
at
September 21, 2006 6:52 AM [link]