A DOCTOR, A LAWYER, AND A PRIEST
I’ve known David Sipress since we were six. And what a dazzling short story he has just published – as richly textured as his New Yorker cartoons are spare. If you enjoy short fiction, set aside 15 minutes with this. It’s a holiday!
“WALL STREET MONEY NEVER SLEEPS”
Have you seen it yet? The scene at the New York Federal Reserve where 94-year-old Eli Wallach – as the grand old man of Wall Street – foresees the implications of failing to save the investment banks? “It’s the end of the world!” he says. This fiction jibes neatly with the real live facts, as recounted in Andrew Ross Sorkin’s page-turning Too Big To Fail, now in paperback. Most are oblivious to how close to disaster we came – not least because sounding the alarm full blast can cause disaster. (Maybe this is why they don’t shoot off cannon to warn of avalanche conditions.)
GLDD, NBIX, DCTH
GLDD is up 25% since discussed here last month; DCTH jumped last week on takeover rumors (which are probably bogus, opines this bull on the stock); and NBIX, first suggested here last February at $2.60, has now nearly tripled, closing up a buck at $7.34 Friday as Jefferies & Company initiated research coverage of the stock suggesting a target of $12. I am happily holding on to all three.
Quote of the Day
The people who sustain the worst losses are usually the ones who overreach. And it's not necessary: steady, moderate gains will get you where you want to go.~John Train
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