Wallstrip Goes Back to School
The bear market of 2001 and 2002 was a relative non-event for yours truly. Sure, I had a few duds, but stocks like Stericycle and Corporate Executive Board got me through the bear market relatively unscathed.
But a healthy slug of education stocks were my secret weapon. Hiding in the stocks saved me a lot of grief, and we are now in a similar spot.
Piggyback Ron Baron and his boys on the names; they know what they are doing here and have been long time holders.
And while David Rocker tried to stir up trouble at Credit Suisse’s March 2003 Global Services Conference held annually in Phoenix, the shorts are on the sidelines and Rocker is in retirement.
Too, the bankers running the conference are now at the helm of Apollo Group (APOL-NASDAQ) and the stock continues to provide a safe haven. True, you cannot eat relative performance, but Apollo might well enjoy a renaissance under the new management - CEO Chas Edelstein has only been there a few months, but bringing him aboard to join his banker bud Greg Capelli has the company pointed in the right direction.
And, as Julie Alexandria can attest, the wind is at sectors back, and although Grand Canyon Education (LOPE-NASDAQ) has to cut the size of the pending IPO, the fact they can get it done at all is a testament to the sectors relative strength.
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Grand Canyon Education cuts IPO price range by $4
Reuters
Previously
Ex-Credit Suisse Bankers Making Their Mark at Apollo Group
1440 Wall Street
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The content contained in this blog represents the opinions of 1440 Wall Street. This commentary in no way constitutes a solicitation of business or investment advice. It is intended solely for the entertainment of the reader, and the author. Position in APOL
Quality Time with Energy Analyst Sir Charlie Maxwell
While Charlie Maxwell has not been knighted, officially, any SOB who can spend 40 years on the SellSide, dealing with the BuySide day in and out, deserves to be.
Consider it done, Charlie.
In an overlooked interview last Thursday, Charlie spends some quality time with Charlie Rose, and discusses everything from his forecast for oil (high $40s, flat, and then $70) to the impact on alternative energy, and the sad state of the energy infrastructure in this country.
Be careful what you wish for America. The lower prices at the pump are the only thing we have going for us, but we are sowing the seeds of our own destruction. Cap ex budgets for drilling and infrastructure/transport are being lowered and alternative energy, including solar, is dead in the water despite Obama’s win.
Big thinker Dan Yergin of Cambridge Energy Research Associates and chairman of the U.S. Department of Energy’s Task Force on Strategic Energy Research and Development is also on the clip, and you can see what he and Charlie think about China, Jimmy Carter’s sweaters, Boone Pickens obsession with natural gas and the reflation trade, which dumbass bloggers will tell you about after it is over.
It concludes with a good discussion of the Obama administration’s likely path as they reassert leadership in a constructive manner.
Full 38 minute clip:
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8 minute highlight reel if you are pressed for time:
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If you want to watch a shorter 2 minute clip on the demand for oil, here you go..
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The content contained in this blog represents the opinions of 1440 Wall Street. This commentary in no way constitutes a solicitation of business or investment advice. It is intended solely for the entertainment of the reader, and the author. No Positions
Ackman Makes His Charlie Rose Debut
I have often poked fun at Pershing Square hedge fund manager Bill Ackman for his frequent media appearances, but have been warming up to him in recent weeks. After all, we could do a lot worse, like listening to the endless parade of clowns on CNBC, or even following some of my worthless musings.
While he can appear a bit too smug for me, he checked his ego at the door yesterday for his first appearance on Charlie Rose. He is an eloquent spokesman for Hegistan, and subtly points out the unintended consequences of Paulson’s desire to protect the banks and financial stocks by wiping Hedge Funds off the map.
Paulson succeeded in his scorched earth campaign, but has turned us all into losers with his idiotic moves.
All I can say is, be careful what you wish for.
Hedge fund selling should keep this market in the toilet until the New Year. And, as Ackman points out, there are some tremendous bargains out there, but nobody is in a position to buy anything thanks, in part, to Hank.
A must view, including Ackman’s plan to fix up General Motors (GM-NYSE), and a good discussion of permanent capital, something only Warren Buffett seems to have.
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The content contained represent the opinions of 1440 Wall Street. This commentary in no way constitutes a solicitation of business or investment advice. It is intended solely for the entertainment of the reader, and the author. No Position
Eric Bolling Named Co-Host of FBN’s Happy Hour
Fox Business Network has finally found a home for Eric Bolling, who has been underutilized since signing on with Ailes et al.
He will be broadcasting daily from the Bull and Bear, which presumably has a parking space large enough for his Maybach:
Eric Bolling will join Cody Willard and Rebecca Diamond as co-host of FOX Business Network’s (FBN) Happy Hour, announced Kevin Magee, Executive Vice President, FOX News.
Happy Hour (5PM-6PM ET) is a daily business news program set inside the Bull & Bear bar at the Waldorf-Astoria Hotel in New York City that provides irreverent banter on the day’s market activity in a lively open forum atmosphere.
In making the announcement, Magee said, “Eric’s knowledge of the markets and energy issues has been instrumental to us during this historic time in our nation’s economic history. I am pleased he’ll now take on a new role at FBN as co-host on Happy Hour.”
Bolling added, “Happy Hour is a dynamic show that takes the headlines and market reactions and turns them into useful and intelligent information. I am excited to take on this new role as co-host.”
Since joining FBN in March 2008, Bolling has served as a contributor providing daily commentary to Money for Breakfast, America’s Nightly Scoreboard and Happy Hour, among other programming. Bolling is also an independent trader based out of the New York Mercantile Exchange (NYMEX) specializing in trading commodities such as crude oil, gold, and agricultural commodities.
Prior to this, Bolling served as a CNBC contributor for two years, where he was a panelist on Fast Money. He also was the recipient of the Maybach Man of the Year award at the Trader Monthly Awards in January 2007.
Lets hope Eric has some pull with the bookers, tapping his rolodex would bring a diverse and talented group to the 5pm show.
Fox Business Network
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The content contained represent the opinions of 1440 Wall Street. This commentary in no way constitutes a solicitation of business or investment advice. It is intended solely for the entertainment of the reader, and the author.
