Quotable Quotes and Notable Notes From The Week That Was

Hoping everyone is having an enjoyable Holiday Season so far. With Christmas now behind us, we can revert to our usual Scrooge-like cynicism and serve up some quotes which helped define the past week.

“An investor lucky enough to have slept through most of 2011 might have awakened Christmas morning thinking that nothing much happened the past 12 months.” --financial columnist Terry Keenan, who goes on to say nothing could of course be further from the truth, and handed out her awards for the year. “Best call: Alexandra Lebenthal defending muni bonds versus Meredith Whitney. Worst Call: Dick Bove defending and recommending Bank of America stock and still maintaining he had it right and the market had it wrong.”

"You can count on me not being a customer anymore," --Reuters quoting one of the very many Best Buy customers who failed to receive online Christmas gift orders by the promised date; and reportedly delivery executions issues affected other brick and mortars including Target, Wal-Mart and Barney’s

“Anchors Away at CNBC!” --columnist Claire Atkinson on the revolving news desk seats at CNBC this year, most notably in defections among female broadcasters who see their paths for further advancement reportedly limited.

“Apple to hit $607 in 2012.” --Piper Jaffray analyst Gene Munster, long an AAPL bull and even more bullish over the prospects of an iPhone5 launch this summer, penetration in foreign markets of less expensive iPhone models and new initiatives in Web-connected HD TV’s.

“It was obviously an offer the banks could not refuse.” --Barclay’s on the ECB lending operation this week, called by one media source the “The European Lender Bender”, but future bond-buying actions still downplayed somewhat by Mario Draghi saying “the ECB cannot overstep its mandate.”

“The more ads a publication runs for Louis Vuitton and other luxury goods, the more sympathetic they seem to be editorially to the ‘Occupy’ movement.” --Charlie Rose guest

“Top U.S. corporations generally derive 10-14% of sales out of European markets and a European downturn will not impact earnings as much as is being priced into the markets, save for more exposure on the part of some sectors such as energy, tech and automotive and some very specific companies in other sectors.” --Bloomberg radio guest

"Time to shut up, fat boy!" – Giants running back Brandon Jacobs yelling post-game at outspoken Jets coach Rex Ryan after the Giants emotional victory Saturday. According to the NY tabloids, Jacobs also sent a "shut the (expletive) up" to Rex, who reportedly countered with "he can go (expletive) himself." The debate now is who was most out of line and whether or not the NFL will take action against one or both.

“There’s nothing like the prospect of missed vacation time to get Congress off its butt, even if just to effectively postpone taking any real action.” --political blogger

“The jury is still very much out on this retail Holiday selling season. Black Friday/Cyber Monday may have been very misleading.” --various media reports, with several making the point that initial jobless claims is still the measure most important to watch for the ongoing health of the retail sector

“The Big Theme for 2012 is going to be the U.S. ‘feasting’ on the rest of the world’s problems.” --Richard Bernstein, ex-chief strategist at Merrill Lynch and now CEO of own firm, on Maria Bartiromo’s weekend show

“The biggest and busiest player in Washington in 2012 might not be Congress, the Administration or the Presidential campaigns, it might well be the U.S. Supreme Court.” --guest on Meet the Press, commenting on the upcoming potential fights over healthcare, immigration, financial industry regulations, tax code reform, etc.

“I am obsessed by Justin Bieber’s Christmas album. I play it and sing along all the time” --very strange film director John Waters

“If you do nothing but go to Costco for the free food samples around the Holidays, it is well worth the annual membership fee.” --John Crudele, financial columnist

“Biggest CEO screw-ups of 2011: Tokyo Electric Powers’ Shimizu, J&J’s Weldon, Rupert Murdoch, RIMM’s co-CEO’s, Netflix’s Hastings, HP’s Apotheker, BofA’s Moynihan, and of course, MF Global’s Jon Corzine.” –Forbes Magazine

“Safety deposit boxes are virtually sold out in Switzerland.” --WSJ on the flight of wealth out of Southern European countries.

“I would put our legislative and foreign policy accomplishments in our first two years up against any President, with the possible exceptions of Johnson, FDR, and Lincoln.” --Pres. Obama, before jetting off to his Hawaiian vacation and after the less than remarkable payroll tax legislative accomplishment this week.

And finally, a story we must admit to finding rather humorous, although we do not wish to speak ill of the deceased. (We just report it in this space, not write it.)

“The greatest athlete of all-time just died.” –commentary on the Golf Channel, referring to the death of North Korea’s Kim Jong-il. The “Dear Leader” over the years has been reported by North Korea’s official media to have achieved some remarkable athletic feats, including shooting 38 under par with 5 holes in one in his first round of golf and scoring a perfect 300 in his first game of bowling.

Good Trading!
David W. (aka The Underground Trader)
Manager The FlashTrading Service

 

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