So when I started writing this thing I said that I would write when I had something to say. The last six weeks have been a whirlwind in my personal and professional life. While I have been napping, indeed the world has not stopped turning. So I will share some commentary now, and look for more entries soon.
Headline: Elliot Spitzer’s political career blows its wad, goes limp. I know, too easy. At least I didn’t make some comment about ‘living by the sword.’ We all know the story, so two things: First, what a complete idiot, paying for prostitutes with money from a personal account. While you’re at it why not write your coke dealer a check? Ever heard of a Visa gift card in the amount plus four percent for the ATM fee? Or two or three for those larger amounts when any old hooker just won’t do? There’s a CVS with a gift card kiosk not 200 feet from the front door of the Mayflower hotel (no promotional consideration has been paid by CVS, by the way).
Second, let’s cut to the chase about what really happened here. This guy is a sanctimonious ego-maniacal prick who spent years jamming up the trail of the guys on Wall Street. Did you think these guys would let bygones be bygones? When these same guys so vehemently supported his run for Governor, it was not because they we’re happy to get him of out of the AGs office. Oh please, as if they were scared of him. No, it’s because you can bet they already knew his proclivities for behavior unbecoming–like four-figures per night call girls– and they knew this or something else would eventually catch up with him. They hoisted him to the top of the mountain because from there the whole world could see his head being lopped off, and know without a doubt who is really in charge. True, Spitzer is a cautionary tale about out-of-control hubris and and why you shouldn’t cheat on your wife. But he is more a brutal example of what happens when those who think they run things are brought into check by those who actually do.
Since I’ve been out, the market has taken one giant step sideways. We’re not too far from where we were when I dozed off. If you bought Blackstone or AIG when I said, you made a nifty short term profit. Expect the market malaise to continue into June. But some stock opportunities are cropping up. Stay tuned.
Disclosure: As of publication I have no positions in the stocks mentioned here. I am not a professional, but I am trying this at home. It is highly recommended that you consult a licensed financial advisor or broker before making any and all investment decisions.
Tags: Business And Life by HJ
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