What is the reason for the new found happiness, is it housing?
Or credit quality is improving?
No, it is just one trustworthy guy sad to buy another pal.
Do they need to unwind trading positions, short the hell out of LEH by themselves or just caring about your blue sky and palms retirement - you decide.
Take a break and read another good book:
Full of Bull: Do What Wall Street Does, Not What It Says, To Make Money in the Market (Hardcover)by Stephen T. McClellan (Author)
I hope you get it: nobody knows the value of any investment bank now: one real downgrade in this mirror house and run on another "TOO BIG To FAIL" bank will establish proper valuation in 24 hours.
The real story today was made in Europe when ECB and BOE Hold rates. ECB even sad that they could think about raising next time: for sure they will not cut and now Ben is on the hard place again: another cut and USD will collapse, hold and you have to invite Greenpeace to preserve couple of investment banks for future amusement in Disney Land.
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