Back in April I wrote about Zipcar (NASDAQ: ZIP). At that time the stock was trading at $26.37. The stock has since visited $19.35 on June 9th, and now sits at $22.51. Over that time, the S&P 500 is basically flat. As they say, my “writing was on the wall.” I don’t get paid to write research – which is why I don’t offer recommendations in these posts. The upside to not getting paid is that I am able to give you an objective point of view (which would have helped you avoid the 26.6% slide).
Worse than too-quick, unsatisfying sex
Last Friday the Obama Administration and the Department of Treasury released their long awaited and overdue plan for housing reform. They delivered a whole lot of nothing: No plan, No future of mortgage secondary market, No future mortgage buyer of last resort, and No substance. The kids at the Department of Treasury must have written this paper during their senior economics policy class at their Ivy League school. (At my alma mater they would have received a mid “C” for this crap if the professor were in a generous mood.)
From Datsun to Nissan
Last week, commercial real estate professionals (~1,200) around the nation gathered at the GW Marriott in DC to attend the CREFC (formerly known as CMSA) conference braving snow, horrendous local drivers, and no-touch strip clubs. Like a spiritual retreat, attendees came to reflect upon the current status and inner child of the commercial real estate market including topics of CMBS V2.o, market liquidity, senior class investor rights, special servicer rights, and, everyone’s favorite boogeyman, government regulation…
That is, besides the the women, the parties (Models & bottles baby!), all the other trappings of wealth and “life in the fast lane.”
Earlier today I switched the channel from CNBC over to AMC to watch the last ~40 minutes of Wall Street, a movie that I, like many of you, have seen well over a dozen times.
I can’t remember the first time I saw it, but it was probably around late high school or early college, but that’s really besides the point. Every time I, like many of you, watched the movie I get pumped up and excited, but until today I never really thought about why. I don’t mean excited about the plot twists, the story, or any of that, its more complicated, or maybe actually more simple than that.
According to the always tuned-in folks over at the New York Times Business section, apparently “Wall Street” has gone stir-crazy over Curling aka frozen Swiffering. Sure, there’s some strategy and technique, I don’t think anyone (at least no honest athlete or gamer) is debating that, but to say Wall Street has been Romanced by the “sport?” Color me confused/skeptical/you get the idea.