Tag Archives: lottery ticket rally

Stacy Summary:   When the punter has a fresh drink and is just about to roll the dice, there are plenty of green shoots in the casino.  It all seems so hopeful just then.

• Surge in homeless children (h/t @maxkeiser)
  

• Bribes for ratings

• Lehman leads the way in ‘lottery ticket’ rally

“People lost so much money last year and they are so desperate to recoup their losses that they are willing to invest in anything,” said Brad Golding, portfolio manager of CRC Financials Opportunity hedge fund in the Cayman Islands.

“Everyone wants a lottery ticket.”

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Traders say Lehman and WaMu have more debt than cash, meaning they have no equity value and buying their shares is a forlorn cause.

“It is tulip mania,” Mr Golding said.

“People have decided [a stock] is worth something based on nothing. The facts are quite the contrary.”