Zorrofan

I can't remember who it was that posted the CDS spreads before - on the old board - but if someone had access and was willing it would be appreciated!! In the big picture, the swaps and hedges did their job with 2007 & 2008 results at record levels - did Prem close them out too early? Maybe. But FFH has loaded up on some ultra-safe, high yield munis backed by BRK, some global blue chips and 5 years from now Mr. Market will be looking at todays move into equities by FFH the same way they looked at the move into CDS - wishing that they had been that smart. (unless of course it really is the end of the world!!) cheers Zorro ;D

Given today's drop, I can only hope that, yes Prem is buying - hand over fist!! :P cheers Zorro

Always interesting to get other points of view.... http://finance.yahoo.com/news/Depression-ahead-prepare-for-rb-14068677.html cheers Zorro

Thanks, worked like a charm.... Cheers Zorro

Vinod1 When I tried to access it, the site wanted a password? Please help! Cheers Zorro

Things may get a lot cheaper yet. The trailing 12-months earnings on the S & P are under $30 or expected to be under $30 IIRC, multiply that $30 by 15 and you get 450 for the S & P. Even if you are optomistic and feel $40 is fair for 2009, 15 x $40 = 600. And I am being generous with the p/e. Interesting to note that WEB & Prem are buying bonds (high yield) with warrents for future equity purchases. We will have hit bottom when BusinessWeek puts out a cover that equities are dead or WEB is wrong.....