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Co-Ed Naked Call Writing

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  • #1

    Co-Ed Naked Call Writing

    Woohoo! We're back, baby!

    So, apparently the credit crunch is spreading internationally. Today, the Bank of England bailed out Northern Rock, a mortgage lender with apparently good credit standards.

    Looks like the Brit housing market might take a hit. To those UK homeowners, my heart goes out to you for what's coming. On the other hand, to the young-uns looking to get in the market, happy days are here again.

    In other news, over the last year+, I've been accumulating an ETF of the top 25 Chinese H Shares (FXI). It continues to go nuts (my position is +75%) and is up about 2% today. This can't go on, can it? Buffett is bailing on his PetroChina position, after a 600% gain, so... Well, that probably has to do more with the oil market peaking.

    I began accumulating based on the premise that the yuan would be going up slowly but surely. Added to that was excellent growth and reasonable income growth. But it's an interesting question of when to take profits.
    Last edited by DanS; September 14, 2007, 11:12.
    I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891
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  • #2
    Get a job.
    Long time member @ Apolyton
    Civilization player since the dawn of time

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    • #3
      I have too much of one already, I'm afraid.
      I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891

      Comment

      • #4
        If your investments are doing so well, why work?
        Long time member @ Apolyton
        Civilization player since the dawn of time

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        • #5
          Sadly, I started out a pauper, and therefore must continue to work for a while yet.
          I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891

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          • #6
            DanS all you talk about is money.

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            • #7
              Well, money does make the world-go-round after all.
              ____________________________
              "One day if I do go to heaven, I'm going to do what every San Franciscan does who goes to heaven - I'll look around and say, 'It ain't bad, but it ain't San Francisco.'" - Herb Caen, 1996
              "If God, as they say, is homophobic, I wouldn't worship that God." - Archbishop Desmond Tutu
              ____________________________

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              • #8
                Originally posted by Wiglaf
                DanS all you talk about is money.
                Perhaps he has no credit card, so he must use cash?
                So get your Naomi Klein books and move it or I'll seriously bash your faces in! - Supercitizen to stupid students
                Be kind to the nerdiest guy in school. He will be your boss when you've grown up!

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                • #9
                  I laughed my ass off at the employment report. It seems the macro equivalent of the perpetuum mobile doesn't exist after all.
                  DISCLAIMER: the author of the above written texts does not warrant or assume any legal liability or responsibility for any offence and insult; disrespect, arrogance and related forms of demeaning behaviour; discrimination based on race, gender, age, income class, body mass, living area, political voting-record, football fan-ship and musical preference; insensitivity towards material, emotional or spiritual distress; and attempted emotional or financial black-mailing, skirt-chasing or death-threats perceived by the reader of the said written texts.

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                  • #10
                    Originally posted by Chemical Ollie


                    Perhaps he has no credit card, so he must use cash?

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                    • #11
                      Re: Co-Ed Naked Call Writing

                      Originally posted by DanS
                      To those UK homeowners, my heart goes out to you for what's coming.
                      Dauphin:

                      Provost:
                      Speaking of Erith:

                      "It's not twinned with anywhere, but it does have a suicide pact with Dagenham" - Linda Smith

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                      • #12
                        Re: Co-Ed Naked Call Writing

                        Originally posted by DanS
                        Looks like the Brit housing market might take a hit. To those UK homeowners, my heart goes out to you for what's coming. On the other hand, to the young-uns looking to get in the market, happy days are here again.
                        They're so, so not. Yet. In London, house price inflation estimates have dropped from 36% to 24%. House prices in London have gone up 400% since 1997. Wages have gone up <50% in the same time. The crash has to be huge to regain affordability. And that won't happen, as people really want to buy.

                        House prices have fallen in the North West, but only marginally, and the rises there were less pronounced. Soon the North will be so cheap, comparitively, that businesses will relocate. Or companies will outsource to the North. Then we might see a bit of a fall in the South. But London rental market is still strong, and isn't likely to go anywhere. Unless the credit crunch leads to banks not hiring many. That is feasible. But IIRC, official estimates are that a 20% fall in house prices over the next 5 years is still less than a 10% probability.
                        Smile
                        For though he was master of the world, he was not quite sure what to do next
                        But he would think of something
                        "Hm. I suppose I should get my waffle a santa hat." - Kuciwalker

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                        • #13
                          Originally posted by Colonâ„¢
                          I laughed my ass off at the employment report. It seems the macro equivalent of the perpetuum mobile doesn't exist after all.
                          The payrolls report was particularly and unexpectedly bad. On the other hand, the +/- error on those reports is high, and subject to revision.
                          I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891

                          Comment

                          • #14
                            Re: Re: Co-Ed Naked Call Writing

                            Originally posted by Drogue
                            The crash has to be huge to regain affordability. And that won't happen, as people really want to buy.
                            I don't know about the peculiarities of the British housing market, but how are people going to buy in the midst of a credit crunch? A lender with a solid book of mortgages had to be bailed out by the gov't.

                            The whole ponzi scheme requires new members, and it looks like Dauphin was the last in. Here's a good quote from an article about what this means for bringing in new members...

                            The Northern Rock bailout also raises questions about the future growth of the British economy, Europe's strongest in recent years. Applegarth said that Northern Rock, which churned out close to $40 billion in lending in the first half of 2007, was now sharply tightening up; one analyst estimates it would now fund just 2% of the new mortgage market, down sharply from its previous 19% share.
                            Bloomberg - Are you a robot?
                            http://www.businessweek.com/globalbiz/content/sep2007/gb20070914_343931.htm
                            Last edited by DanS; September 14, 2007, 14:21.
                            I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891

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                            • #15
                              It might slow the ridiculous growth of house prices, but I can't see a decrease happening.

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