BofA slash and burn; OBT portfolio update

Bank of America to Slash Asia Staff in First Quarter

Bank of America Merrill Lynch aims to cut about 20% of its Asia-Pacific managing directors by the end of the first quarter, a person familiar with the situation said Tuesday.

It's been awhile since I updated the OBT (Obama Bernanke Turbo) portfolio. I created the portfolio with five equal shares in the government bailout financial firms—AIG, Citigroup, Bank of America, Fannie Mae and Freddie Mac—and it is now down 61.3%, led by 87% losses in Fannie and Freddie. BAC is down 63% since inception; AIG down 33% and Citigroup down 35%. Inception date is August 26, 2009.

OTB Portfolio Update 6/16/2010

It's been a long time since I did an update on the Obama-Timmy-Bernanke portfolio. It was equally invested in 5 stocks: AIG, Citigroup, Bank of America, Freddie Mac and Fannie Mae. The portfolio was initiated on August 26, 2009 and it had an initial value of $1000.

Fannie and Freddie are down more than 40% today because they're being delisted from the NYSE.

Freddie (FRE) is now down more than 65% since portfolio inception, with Fannie (FNM) down more than 70%. The only winner is AIG, currently up 1.76%. The portfolio is down nearly 12% this morning thanks to the losses in Fannie and Freddie, and it is down 32% since inception.

OTB Portfolio Update 2009/09/21

A 21% rally in AIG and gains for every holding except Bank of America (BAC) lifted the OTB Portfolio to a 7.97% gain and into positive territory since inception, up 2.47%. Freddie Mac (FRE) is 0.5% above its initial position value of $200, while AIG is up 28% and has delivered essentially all the portfolio's gains.

OTB Portfolio Update 2009/09/09

8.5% rebound in AIG lifts the OTB Portfolio 2.61% Only Citigroup was down on the day.
At $967.85, the portfolio is down 3.21% since inception.
Thanks to today's move, AIG moved ahead of Citigroup as the largest portfolio position.

OTB Portfolio Update 2009/09/07

AIG sank 10% today, leading the decline in the OTB Portfolio.
Portfolio value is now $943.21, current top holding is Citigroup at $202.16, Fannie Mae is at the bottom, at $176.22.

OTB Portfolio Update

The 26% gain in AIG, 9% Citigroup and 10% lift in Freddie Mac delivered a 10.17% gain to the portfolio. Fannie Mae and Bank of America were muted today.

Current value: $1101.72

OTB Portfolio Launches!

I've created a new portfolio. I call it the OTB portfolio, for Obama/Tim Geithner/Ben Bernanke.

It holds five stocks that represent the OTB Economy: Citigroup, Bank of America, AIG, Fannie Mae and Freddie Mac. GM might count, but these guys love financials and credit is the backbone of the American economy, judging by their comments and actions.

I've made the portfolio value $1,000, so any widow or orphan should be able to scrape together enough food stamps to buy into Hope.

Of course I'm way behind the curve. Had I launched the portfolio on July 31, it would already be up 40% to $1399.12. Nevertheless, today is as good as any and Bernanke was just reappointed because he saved the world from Depression! Lots more gains must be on the way...it's not like this was an optimism driven rally and Bernanke's reappointment represents a top or anything.

占·羅傑斯 — 美国政府“摧毁纽约作为金融中心“

占·羅傑斯告诉了CNBC Asia's Martin Soong:

“你正在看的东西在我们眼前，非常从历史上看，它基本上摧毁纽约作为金融中心和破坏美国作为世界上最强大的国家 ” (Google翻译）

英文视频

还有两个跟Hugh Hendry 的采访：
美国国际集团已经死了
关于定量宽松

我想在今年年底前将表明，量化宽松不会成功的一种环境，使他们在美国的债务相当于全球国内生产总值。你怎么能诱使人们采取更加债务？(Google翻译）