ATCJeff
Well-known member
An 860-870 close today would be awesome!
How bout' 859.12?
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350zCommtech's Account Talk
- Thread starter 350zCommTech
- Start date
How bout' 859.12?
350zCommTech
Well-known member
That's good enough. 870 would have been perfect. Actually, the futures finished even higher at 865. We just ran out of time in the S&P cash.
ATCJeff
Well-known member
Question, is this difference called the fair value they will carry over tomorrow?
350zCommTech
Well-known member
I think so. I'm not 100% sure ATCJeff. Perhaps somebody more knowledgeable can chime in.
I will say that most of the day today, the Futures and the SPX were trading very close to each other, up to the close. After the close, the futures kept going up.
Frixxxx
Moderator
Here it is-clear as mud:
http://money.cnn.com/2000/04/17/investing/fairvalue/
oh...but I'm not more knowledgable....just a googler.
350zCommTech
Well-known member
350zCommTech
Well-known member
WTF?????? I fund up only 3 cents today. This is either a big mistake or I funders got robbed big time. This is criminal.
I funders should have gotten 30 cents.
F funders got screwed also.
And the top 3 L funds beat the I fund. How is this possible with the C fund up 10 and the S fund down 3. This is BS!
I funders should have gotten 30 cents.
F funders got screwed also.
And the top 3 L funds beat the I fund. How is this possible with the C fund up 10 and the S fund down 3. This is BS!
Minnow
Well-known member
WTF?????? I fund up only 3 cents today. This is either a big mistake or I funders got robbed big time. This is criminal.
I funders should have gotten 30 cents.
F funders got screwed also.
And the top 3 L funds beat the I fund. How is this possible with the C fund up 10 and the S fund down 3. This is BS!
They're gonna get their money somehow someway...
Nov. 18 (Bloomberg) -- Barclays Plc, the British bank asking investors for 7 billion pounds ($10.5 billion) to shore up capital, won't pay top executives annual bonuses this year following similar moves by Goldman Sachs Group Inc. and UBS AG.
Barclays Chief Executive Officer John Varley, investment banking chief Robert Diamond, consumer bank head Frits Seegers and Finance Director Chris Lucas will forgo their 2008 bonuses, the London-based bank said today. Diamond, the bank's top-paid director, got a 6.5 million-pound ($9.75 million) bonus last year as well as his 250,000-pound base salary.
Governments across the world have agreed to bail out financial services companies amid the worst financial crisis since the Great Depression, putting bonuses under heightened scrutiny from lawmakers and taxpayers. Goldman Sachs Chief Executive Officer Lloyd Blankfein this week said he would forgo his bonus, while UBS scrapped bonuses for CEO Marcel Rohner and 11 other top executives this month.
``This is the least Barclays can do,'' said Peter Braendle, who helps oversee $48 billion, including Barclays shares, at Swisscanto Asset Management AG in Zurich. ``They should take into account not just what happened this year but what they did to the bank in previous years.''
Barclays Chairman Marcus Agius has sought to avoid the U.K. government's bailout plan, which limits dividends and executive pay, by raising money from sovereign wealth funds in Qatar and Abu Dhabi. Barclays investors have complained the funding from the Persian Gulf is too costly and will dilute their stakes.
Gulf Funding
Agius met the bank's biggest investors last week. The bank today moved to placate them by offering money managers as much as 500 million pounds of stock reserved for Persian Gulf funds. Barclays also put its whole board up for re-election.
Goldman CEO Blankfein and six deputies this week said they would surrender their year-end awards. Each of the executives receives a salary of $600,000, while Blankfein's bonus totaled $70 million last year. Bonuses on Wall Street typically account for about two-thirds of the firms' total annual compensation. Blankfein yesterday described the decision as ``unavoidable.''
``We're certainly in an industry that's associated with the heart of the problems that are happening in the wider world and that's an association we can't avoid,'' he said at a conference in Washington.
Deutsche Bank AG Chief Executive Officer Josef Ackermann, the highest-paid executive of Germany's top 30 companies, last month agreed to forgo his bonus, along with investment banking chiefs Anshu Jain, Michael Cohrs and members of the bank's management and supervisory boards.
UBS Package
UBS, the Swiss bank that got a $59.2 billion rescue from the state and central bank, said from next year it will be able to claw back bonuses in the years after their award. As much as a third of the bonus will be paid immediately, while the remainder will be put into a participant's account and can be reduced if there is a loss at the division or the whole bank.
More banks should consider changing their pay systems to follow UBS, said Swisscanto's Braendle.
``Companies should take a longer-term approach,'' he said. ``Instead of awarding bonuses on a year-by-year basis.''
To contact the reporter on this story: Elisa Martinuzzi in Milan at emartinuzzi@bloomberg.net
Corepuncher
Well-known member
wtf?????? i fund up only 3 cents today. This is either a big mistake or i funders got robbed big time. This is criminal.
I funders should have gotten 30 cents.
F funders got screwed also.
And the top 3 l funds beat the i fund. How is this possible with the c fund up 10 and the s fund down 3. This is bs!
Go big...go American...C fund all the way! Those other funds are ridiculous voodoo and it's a rigged game. To hell with them!
FUTURESTRADER
Active member
The ETF (SPY) tracks very closely the SPX 500 future for the near month. And it trades after the 4:00 market close. I've been thinking the same thing, that a simplified description of fair value is the difference between the SPX cash (close at 4 pm) and the SPX futures. It looks that way on a cursory glance but I haven't really tested it yet.
350zCommTech
Well-known member
Lots of bad news out there. The market was overbought at the open and they took it down. It's now oversold.
The good news:
CPI was good.
Dollar starting to fall.
Bonds are overbought.
Yen continues to fall despite the market going down.
FOMC minutes has got to be priced in?
838(futures) held, so far.
On the hand, If I bail to G, I'll only have to wait 7 trading days before I can get back in.
The good news:
CPI was good.
Dollar starting to fall.
Bonds are overbought.
Yen continues to fall despite the market going down.
FOMC minutes has got to be priced in?
838(futures) held, so far.
On the hand, If I bail to G, I'll only have to wait 7 trading days before I can get back in.
350zCommTech
Well-known member
****! There goes 838 and we got panic in the bond market. It's way overbought now. This should lead to a snap back(up) in yields tomorrow, but we keep getting worst news.:worried:
coolhand
Well-known member
The way things have been going lately, we could easily see a big rally this afternoon. Eventually bad news will kill the selling as sellers become scarce. But where will SPX be when that finally happens? I'm going to hold at least one more day and hope for the best at this point.
350zCommTech
Well-known member
GS is looking relatively strong. Europe down 5% across the board. I'm staying.
GL everyone.
350zCommTech
Well-known member
350zCommTech
Well-known member
Update on the dollar. It has obviously fallen. It's currently down to 85 as of right now. I was a couple of days early on that call and paid the price. The dollar should continue to fall the rest of the week, but it's real close to support, just above 84.
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