A bunch of bloggers though Jeff Macke was losing it in this clip from Tuesday, but he sounds like the voice of sanity in this clip:
The market is running on pure emotion and attempts to justify the move with talk of recovery are nuts. Bank of America is a poorly run bank that is technically insolvent, some investors just gave them another $13.5 billion and they need to find at least another $20 billion more according to the Treasury department's joke-of-a-stress-test—but BAC wants to repay $45 billion of TARP money this year and their stock is up 500 percent off its lows.
If you're wondering what he means by the car people, this is the interview that appeared earlier in the show:
Not So Super
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FEEDSuper Micro (SMCI) makes rack servers. Boring, right? Well, not if they
got the privilege of riding the silly AI fad, which they did to great
effect. C...
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