Stove

T-Bone raises a good point - this is one of few times in the (slighty more) mainstream media has even raised the issue of widespread collusion amongst industry players, back office deals, etc. But way too many people see Stewart as a loony lefty - can you imagine the reaction of this show from Cramer loyalists? They probably think Cramer is being treated as simply the first of many scapegoats that the democrats will throw to the wolves. Bottom line - Cramer's tv show is through - he couldn't even defend himself on the Daily Show, except to say he 'should have done better." Maybe he can ressurect his career by helping to uncover the very nefarious practices he used to employ. Perhaps there is an opening at deepcapture.

While I don't know much about OSTK's business per se, it is possible the Obamacons (Obama cons? ;D) at the SEC will enact some sort of anti-short-selling legislation shortly, in a most likely futile attempt to stop the market from plunging. While the President has specifically stated that one shouldn't pay attention to daily market fluctuations, everybody does anyway, and are beginning to lay some of the blame of plunging markets at the feet of his administration and its policies thus far. Maybe they reinstate the uptick rule or some such. OSTK would be near the top of the list of stocks that would see a sharp benefit from such legislation.

Anyone have any good ones? I have been adding to my short TROW and LM, both of which are near their 52 week lows, but I don't think outflows have stopped. Thoughts, ideas?

I just looked at the Pershing presentation linked on a different post, and I see PS IV has suspended their management and incentive fees...better late then never

LUK is invested $200mm in Pershing Square IV, which is an Ackman vehicle with the sole purpose of investing in Target at 2 times leverage. I don't get this at all and would love to hear why it is a good idea. Why not just invest in the stock itself? Paying a fee to have someone else buy the stock with leverage does not seem like good capital allocation. is there a tax issue that makes this worthwhile? does pershing have a lower cost of capital that negates the fees?

$10 sounds good for LUK. Grande Cache is trading for their net cash right now, capex for FY10 will be $50, which means they'll still have $.31/share in cash at the end of the year. Their fiscal fourth quarter will look brutal due to coal contract deferrals but once they work through that they should be sitting pretty. However they seem to enjoy raising their cost and lowering their production estimates every quarter like clockwork