THE UNDERTAKERS

"A broker says his firm is showing at least 200 properties to a Wall Street guy who finally chose 2 or 3- and made offers of 5o cts on the dollar, we call them the undertakers, their fondest scenario, the word they mutter like a mantra, is foreclosure."

Our esteemed Treasury Secretary could stop the selling carnage in one two minute press conference.

1) Effective immediately reinstate the uptick rule and raise margin requirements on all leverage.
2) Effective October 1st, All hedge funds have new regulatory oversight and reporting requirements of all positions held...(like everyone else)
3) Effective immediately no new derivatives (all forms) will be allowed to be written. Congress needs to order an immediate review of this unregulated and out of control $400 trillion dollar market.
4) Any broker dealer or commercial bank doing business with any unlicensed, unregulated and unsupervised fund of any kind after September 1st will not be allowed access to the Fed window for any borrowing or any kind.

More money is lost buying $30 dollar companies and selling them at $20 dollars and then buying them back in the teens then again selling them in single digits. A classic bear market.....and one with still leveraged money, no experienced "traders" and a very blind eye to the new re inflationary world and structural shift taking place today domestically and internationally.

A major bank wrote...."Arguably, the best money is often made when the notion of buying into that investment makes one almost visibly sick. Internal fortitude is needed to stick with the Financial trade and the losses have been very painful. Moreover, we consider it too late to sell."

If you want to work for the Undertaker, this would be your attitude. Far too may people are thinking this way right now.

Barkly seen here years ago on a beautiful summer day.