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GE CEO Says Now is a "Perfect Time To Be a Seller"
Featured in Zero Hedge Daniel Drew, 4/10/2015 Tweet If you thought you had market impact problems, then you have never tried to sell $273 billion of loans. GE Capital's 2014 loan portfolio was marked at $363 billion. It will take a lot of maneuvering to bring it down to the $90 billion target. With the market at all-time highs and with valuations stretched beyond all conceivable rationality, GE CEO Jeff Immelt said now is a "perfect time to be a seller. People are lining up at the starting line." The last time GE Capital was fully loaded was in 2008, when it was at $30 per share. With a bunch of junk loans on the books, the stock was cut down to $5 at the 2009 lows. Now, it's back to $28.50. When the Federal Reserve gravy train reaches the cliff, Immelt doesn't want to watch his stock options pull another Thelma & Louise as the defaults come raining down. Based on today's options trading activity, it looks like someone was well aware of Immelt's plans. When you're up 6,150% in one day, it's always a "perfect time to be a seller." 5/23/2017 The Big Short 2.0: BlackRock's Consumer Asset-Backed Securities ETF 3/26/2017 Yield Chasers Left Behind As Treasuries Beat Both Investment Grade and Junk Bonds 3/9/2017 Buying The Rumor is 300% More Profitable Than Buying The News 2/25/2017 Index Investing Unmasked: 96% Of Stocks Are Garbage 2/14/2017 The Difference Between F You Money and F Everybody Money 10/11/2016 The Entire 2008 Crash Could Have Been Avoided With One Simple Trading Rule 10/10/2016 How To Avoid Being A Retail Bag Holder 10/9/2016 BTFD! One Chart Shows Why This Is The Only Strategy That Matters 8/7/2016 The Indexing End Game: The Wilshire 5000 Only Has 3,607 Stocks |