It's time to take out that DOW 10K hat out again!!

One more note...

Last i check, Manhattan prices aren't collapsing. We are in mid October already...
Are they bears going to push it back to 2nd quarter of 2010????
Then 3rd quarter of 2010..
Then 1st quarter of 2011...

then..

then..

then...

Wait - tools like Steve and NYC can find one or two apartments with decreases to them that proves that ALL Manhattan properties are crashing......because it affirms their fear and makes them feel better about being a bitter renter wasting over $60K per year in rent.

did you see the corcoran report -it's pretty bad. take out the closings at some new condos and everything is down down down

http://www.marketwatch.com/story/merrill-money-keeps-flowing-into-stocks-2009-10-14?link=kiosk

""Equities remain in a sweet spot: Fears of a double-dip have receded, while worries about inflation and monetary tightening are not imminent enough to prevent an October surge in risk appetite," said Michael Hartnett, chief global equity strategist at Merrill Lynch."

What double dip???

"Wait - tools like Steve and NYC can find one or two apartments with decreases to them that proves that ALL Manhattan properties are crashing......because it affirms their fear and makes them feel better about being a bitter renter wasting over $60K per year in rent."

Now granted I find one of the people you mentioned to be obnoxious and obtuse beyond belief, but if you think it's only "one or two" then you've got your head buried so deep in the sand, you're probably choking on some mantle (the world needs more geology jokes, sorry). I'm also still waiting for you to explain how rent money is "wasted."

Howz that powerhouse leveraged home/ asset play going for ya. Just because you are at las Vegas with the roulette ball still bouncing around with your last $100 on 7 doesn't mean, it'll be alright.

Yep those are th kinds of odds that this is all over carolstreet cult follower.

weve seen the dow--how are your positons in lic and vegas?

"Wait - tools like Steve and NYC can find one or two apartments with decreases to them that proves that ALL Manhattan properties are crashing......because it affirms their fear and makes them feel better about being a bitter renter wasting over $60K per year in rent."

I love it!

perfitz is the schmuck who told everyone to buy the asset that went down 25% (leveraged)! and he's calling the folks who said to buy stocks "tools".

Wow, dude, you are sad.

I know you screwed up all your vegas and manhattan "investments"...

But, hey, getting mad at us who made a ton of money isn't going to fix that for you.

Sorry, moron, but you got it wrong!

bjw, thank god for folks like perfitz, who make you look a little less ridiculous, no?

lol

> Last i check, Manhattan prices aren't collapsing

Wow, so you completely ignore the market reports?
erico, seriously, is your head in the sand?
The market reports show 20-30% declines. Large apartments in Manhattan 30-40%

You can pick whatever adjective you want, but, come on.... we've actually blown past the majoriy of bear predictions.

You going to finally admit they were right or what?

"bjw, thank god for folks like perfitz, who make you look a little less ridiculous, no?"

I know, and you somehow managed to squeeze there in the middle yourself! Nice work!

nyc10022 - I made more this year than I ever have. How about you? Also not all assets went down 25% just the ones that tools like you follow. I am up over 250% on all my purchases.

How about this BJW you tell us how any lasting value is created through writing a rent check? I would alse like to hear a similar explanation on buying a condo is williamsburg (even though you claim that you didnt buy it as an investment which is plain moronic)

> I know, and you somehow managed to squeeze there in the middle yourself! Nice work!

wow, sad, you can't even come up with your own insults! maybe next time, costanza!

Dow 10k will build strong confidence.

> nyc10022 - I made more this year than I ever have

So you went from minimum wage to $9 an hour! I'm so impressed!

> Also not all assets went down 25% just the ones that tools like you follow.

Yes, a lot went down even more. Like 100%! Nice job on losing all that money, genius!

nyc, I don't need to insult you - your words and sh!tty attitude do the work for me.

> nyc, I don't need to insult you - your words and sh!tty attitude do the work for me.

rotfl.

because you spend an AWFUL AWFUL amount of time trying to do so....

Hell, you just did it here.

sad, sad, sad.

after all your whining, AGAIN you start up with me again.

sad, sad.

really

sad.

Unless your dildos are made of gold, they are not assets up 250%

> weve seen the dow--how are your positons in lic and vegas?

perfitz has refused to answer that for a good six months.

nice work perfitz!

> Dow 10k will build strong confidence.

for stocks, sure.

but you've claimed that about Manhattan RE over and over again with each level... and you've just been wrong.

glad I was on the right side of things, maybe you should have listened.

> Unless your dildos are made of gold, they are not assets up 250%

Perfitz isn't so good with numbers. He means he made $2.50. He can almost afford that sandwich now.

You know, maybe that "we won't hit 11k dow" guy was right... but he was just predicting what would happen post-crash.

;-)

NYC I do not have any investments in LIC. As I said I am making more this year than I ever have and all my investments (grouped together) are up 250%

Now shed some light on yourself NYC10022 - how much money have you made from the $120K in rent you spent over the last 2 years? How much of the $120K do you have and how much has it appreciated?

All you do is question and never answer.

> As I said I am making more this year than I ever have and all my investments (grouped together) are
> up 250%

Yes, both baseball cards went from $2 to $7 apiece.

With any luck, perfitz will soon be able to afford that sandwich!

AGAIN NYC answers no questions about his ROI on his rent or any of his investments because he has none

actually, i answered it about 20x before. Perfitz just didn't understand it... because he doesn't get that whole, you know, math thing. Granted, I'm not sure he gets reading either.

Perfitz, you still haven't answered? How is lake las vegas doing? How is that COMPLETE BUST treating you?

And any comments on your "Manhattan will be up 15%" predictions from last year (actual result, down 20%). Care to share how/why you were so wrong?

> AGAIN NYC answers no questions

AGAIN, perfitz still hasn't answered...... even with all his caps.

"after all your whining, AGAIN you start up with me again.
sad, sad.
really
sad."

You're joking, right? You addressed your post to me, unsolicited. You're beyond pathetic - it's really just obnoxious at this point. Shoo fly.

separately...
I feel like I hit the jackpot. I got called dumb by both perfitz AND bjw in the same thread! woo hoo!

There are fewer complements better that getting consistency like that from 2 of this board's 4 biggest winners in that regard. If only alpo and SteveF would join, then I could have the full moron chorus.

No greater vote of confidence than to be called names by the biggest putzes...

Congrats nyc, you're a full-on troll. I assume that's the "jackpot" you've hit. Can we call it the EddieWilson award? (you're still strangely silent on that front, interestingly enough)

lol.

funny, coming from the guy who started the trolling.. AGAIN...

for all the complaining you do, bjw, you're the worst offender...

> I assume that's the "jackpot" you've hit.

wow, doesn't even get the joke.

you and perfitz make quite a nice couple.

"There are fewer complements better that getting consistency like that"

Complements to what? Better that? No, you're not dumb...

ah petrfitz,

legend in your own mind. still hearing crickets on this though:

http://www.streeteasy.com/nyc/talk/discussion/8504-las-vegas-report-the-shape-of-things-to-come-here-in-new-york-nah-its-your-once-in-a-lifetime-chance-to-become-neighbors-with-petrfitz-and-celine

If everything grouped together is up 250% this year than the other investments must be up something more than 250% to offset the real estate losses.

I promise, when you start telling the truth your nose will return to its original shape and you will be a real boy.

does this mean the recession is officially over??

> Complements to what? Better that? No, you're not dumb...

whine, whine, whine. nice life there, bjw...

> legend in your own mind. still hearing crickets on this though:

rotfl

I wouldn't book any parties before Nov. 1st.

"does this mean the recession is officially over??"

Where you you been? It's been over.
We just have the biggest equity rally EVER over the past 6.5 months.

wow, another rookie mistake... confusing stock movements with recessions.

What are you, SteveF?

Jake - when did I buy the property and what did I pay for that property? Do you have any idea what you are talking about?

I am quite happy with that purchase.

How about you Jake? What do you own? or do you live in a rental studio on the UES?

pertidish.. .r u adding to your dildo collection?

can a dildo own a dildo?

Wall Street firms set to break new records in 2009 with pay rising to $140bn; Bailed-out insurance giant AIG paid “retention bonuses” to kitchen staff
By Finfacts Reporting Team
Oct 14, 2009 - 6:10:22 AM

Wall Street firms are set to break new records with employee pay set to rise to $140bn this year. Meanwhile, it has been reported that the bailed-out insurance giant AIG paid “retention bonuses” to kitchen staff earlier this year from a $168m pot, that was ostensibly designed to keep staff from leaving the government controlled firm.

Workers at 23 top investment banks, hedge funds, asset managers and stock and commodities exchanges can expect to earn even more than they did in the peak year of 2007, according to an analysis of securities filings for the first half of 2009 and revenue estimates through year-end by The Wall Street Journal.

The Journal reports that total compensation and benefits at the publicly traded firms it analyzed, are on track to increase 20% from last year's $117bn -- and to top 2007's $130bn payout. This year, employees at the companies will earn an estimated $143,400 on average, up almost $2,000 from 2007 levels.

Average compensation per employee at investment bank Goldman Sachs, is set to reach about $743,000 this year, double last year's $364,000 and up 12% from about $622,000 in 2007, according to the Journal analysis...
this jesses response http://jessescrossroadscafe.blogspot.com/
Wall Street Set to Pay a Record $140 Billion In Bonuses Topping 2007

While the world suffers, Wall Street pays itself record bonuses, larger even than the peak year of 2007, by taxing the productive economy to maintain an extravagant lifestyle. These bonuses are being paid with your money, and your children's money, if you hold US dollars.

And while this happens, the US credit card banks are raising interest rates to 20+% even on customers with excellent payment records and jobs which is certainly usury, and with an arrogant impunity. The insider trading scandals and tales of government graft yet to be told are so blatant and shocking that only a captive mainstream press keeps them from being investigated.

The rest of the world looks on in shock and amazement. What has gone wrong with America? What are they thinking? America has not only lost the high ground, it is sliding into a ditch.

While Americans are pacified by bread and circuses, the rest of the world looks at a painful reality show in the States, a country in a death spiral of corrupt leadership and public apathy. If it was Zimbabwe or Iceland there would still be sympathy for the people, but far less concern.

A deflationist friend was railing about the US slide into bankruptcy, and I could not help but ask, "What happens to the paper of a bankrupt company, or country?"

Where indeed will the dollar gain its long anticipated strength, its renaissance of value?

Or yes, from "less dollars" through debt destruction. Mutant monetarism gone mad, an argument worthy of Herr Goebbels. The dollar will rise in value by immersing itself in a pool of corruption, and by destroying its shareholders, those who hold their savings in it, while oligarchs loot the financial system. Unless the US can turn its trade balance positive overnight, while raising interest rates, and maintaining a growing domestic economy based on consumption, it is not going to happen. The US is running out of degrees of freedom.

Wall Street holds the US public and government hostage by threatening financial armageddon if they do not get what they wish. We would anticipate a similar threat to the global economy based on dollar debt at some point, asking for a global monetary regime controlled out of New York and London, with perhaps a few associates.

Nothing goes straight up or down. There will be more sucker rallies and bubbles, but the train is starting to come off the rails a little more with each wrenching turn of this cycle.

The banks must be restrained, and the financial system reformed, and balance restored to the economy before there can be any sustained recovery.

nyc10022 a learned question, young jedi.

ericho. FYI I heard from a little bird riding on a unicorn that a bunch of brooklyn developers that were quietly marketing their failed condos (and who got no takers) got a 3 yrs forbearance.... it's PIK bullshitz.... and basically the banks and regulators are putting this "asset/dildo" on the "performing" asset and a 100% of CF is going to PIK "Income" and all of them are turning "rental."

I saw this porn movie in 1991.... this is how it ends.... girl fakes orgasm... screams "give it to me." Pizza guy proceeds to deliver the "pizza" in the "money" shot and fades to blk. Me thinks aboutready's thesis of "reflating" is in full force.... the longer this shit lasts the greater the bid/ask and RTC 2.0 on a massive scale...

FYI, my father bought 3 properties from the RTC in 1993 to 1996 (?) 20% cost of construction, 80% below last sale... gooodz luck w/ LIC RE... and carefully read the CF stmts on the banks.... bankers lie, cash is all knowing and all powerful....

> nyc10022 a learned question, young jedi.

rent an apartment for 50% carrying costs, I will

lol

No need to worry about me petrfitz. And stop projecting. Your analyst won't like it.

You made the claim that so far this year all your investments when grouped together are up 250%. My argument is that your investment in real estate is not up 250% this year and that means the other portions of your portfolio must be up in excess of 250%. Simple math. If you disagree and claim that your real estate investments are also up 250% this year well then, good on ya, and please enlighten us with the facts. I simply find it hard to believe that any real estate investment made this year is up 250%. BTW, "Lake Las Vegas foreclosures" returns 1,680,000 hits on google but you were saying?

And you never finished enlightening us about your lake las vegas "estate":

"so just to be clear, this is a single family detached estate with frontage on both lake las vegas and lake mead? must be nice. pool? kidney shaped or lap pool? maybe both - that works. how many car garage?

how much frontage on each lake? and what exactly is the distance from your back door to lake las vegas? and from your front door to lake mead? i mean you make it sound like a tall person could straddle it. and is it a sandy beach along your shoreline or sea wall with dock?"

jake
about 8 months ago
ignore this person
report abuse The phrase that caught my eye and resonates with New York is:

"New construction may have slowed sharply, but has not fully ceased. As a result, current supply will be absorbed very slowly, with any sellers facing very difficult prospects."

No petrfitz, the report never mentioned anything about track? housing or blue collar neighborhoods but did say that the 2nd anecdote was from a guard gated community.

But petrfitz help me understand: what exactly is a lake front estate near lake mead??

Is it a lake front estate that's in close proximity to lake mead but on a different lake? help me out.

petrfitz
about 8 months ago
ignore this person
report abuse actually on both - a private lake out the back door and out the front door lake mead.

jake
about 8 months ago
ignore this person
report abuse Atta boy! whats the name of the other lake?

petrfitz
about 8 months ago
ignore this person
report abuse lake las vegas

nyc10022
about 8 months ago
ignore this person
report abuse So its several miles between the front door and back door?

petrfitz
about 8 months ago
ignore this person
report abuse no A hole there is nothing built between the front door and lake mead as i sit on the edge of the national park. you continue to prove that you are a moron of great lengths.

jake
about 8 months ago
ignore this person
report abuse no need to get abusive petrfitz. so just to be clear, this is a single family detached estate with frontage on both lake las vegas and lake mead? must be nice. pool? kidney shaped or lap pool? maybe both - that works. how many car garage?

how much frontage on each lake? and what exactly is the distance from your back door to lake las vegas? and from your front door to lake mead? i mean you make it sound like a tall person could straddle it. and is it a sandy beach along your shoreline or sea wall with dock?

rotfl.

perfitz, always a moron.

I am still surprised. Companies like JNJ with good international footprint are off revenue and making plan via headcount. HOW IS THAT A RECOVERY? W.

In terms of corporate leasing - a big proxy for how hiring and employment are doing here, particularly white collar - the market is positively awful.

the truth is the dow is virtual(lie) it will come down like snow ball
you will see,you will be sorry!!!!!

5% upside 40% downside.

So do we go long or short?

This is looking like a capital "W", as opposed to the small case "w". Meaning, the middle uptick is going higher than I would have thought. I don't think this bull is going to last long once a lot of people start selling after achieving their psychological 10k benchmark. Without jobs and a larger spread of high and middle income earners, instead of just a few handful of super wealthy (in comparison to everyone else).

I'm only wondering how long it will take to go back to below 9k. Once that is achieved, below 8k will be faster to get to.

Dow goes up while unemployment continues to rise. Something terribly wrong with this picture.

This looks an awful lot like institutions chasing the averages up , so as not to look foolish when their clients find out they were not fully invested...

another random from redbaiter---this one, as oft the case, oh so original

puhleeeeze go back to the hannity board

maybe your lying will be appreciated there--not going well here

my easy bet is that petri dish fitz has basically no net worth--like, no assets--nothing--not even the underrwater crap he, for some reason, likes to fantasize about owning--he ceased specifics aftyer trying to explain his hugely profitable double lakefront vegas estate--now it's just laughable crap like his up 250% investment portfolio

hilarious.......he's quite stupid..and assumes others are as stupid as he..as would be a prereq to buying into his line of crap

save your money, petri dish fitz, then you'll have some to lose

why so many posts from nyc say wow? like each post says wow. check it out above.
rotfl
lol
that's hot

A few months ago someone asked me under what circumstances I could see Manhattan prices going back up and I answered something like "1) Wall Street gives big bonuses for 2nd year in a row despite everything else going on. Those getting those bonuses are emboldened that it's not the last bonus they are ever going to get and do what they have done for the last 15 years: go out and buy a bigger apartment with it.
2) Dow climbs another 2,000 points and flirts with going back over 11K because banks are offering 0.001% interest on all savings, CD's, Bonds, etc. and there's no place else to put your money and all State/Muni bonds have been downgraded to "junk" status. Fed presses lower interest rates and gets fixed 30 years back below 4%, Barney Frank et al get Fanny/Freddy restrictions removed and they go back to lending on cardboard boxes to homeless people because "everyone should be able to buy a home". Obama announces a $7 trillion per person tax credit for buying a home. (NB While the numbers are all tongue firmly planted in cheek, the sentiment isn't)."

http://www.marketwatch.com/story/new-york-factory-index-at-5-year-high-2009-10-15

"WASHINGTON (MarketWatch) -- Manufacturing activity in the New York area improved at the fastest pace in five years, the New York Federal Reserve Bank said Thursday."

Jobs will come early next year.