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Mid Day Relief
Feb 03, 2009

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Brooks McFeely

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After communicating with a friend of mine in the asset management business I come to realize a few things this afternoon I'd like to share.

1. The markets have been equally cruel to big and small investors alike. In the office next door to MidnightTrader, there is a hedge fund manager who used to manage $1.5 Billion (with a B) in assets thats now down to $40 Million (that's with an "M"). So, if there is any comfort in group misery, you'll find it like I did without looking too far.  

2. Since the TARP seems to be getting larger and fatter with each passing congressional moment, I've decided to do seek my piece. No, I'm not a bank but I do have some troubled assets including, but not limited to, my purchase of General Electric (GE) at $20 and more at $16. Unfortunately, I don't qualify as a bank despite having more debt than cash...(if you'd actually like to see the real TARP application it's here: http://www.sba.gov/idc/groups/public/documents/sba_homepage/guideline_tarp_capitalpurchase.pdf

3. The major indicies all appear to be in positive territory this afternoon, therefore any reasonable person would deduct that the computer is malfunctioning. However, since the "New Deal" administration has made it more worthwhile to be on welfare than to work, I can't find any computer repair people. Maybe they're out building the Internet to nowhere. Oh, that's just a part of the pork stimulus plan our representatives have added. Not very stimulating is it?


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