Here's an insight for you - along with a trademark indictment, of course.
Take it with a grain of salt, because it's just an educated guess on my part.
It's about how the infamous London Whale may have been harpooned by spawn from his own pod.
For those who haven't heard, the London Whale is one of the latest traders to make the headlines. Bruno Iksil was the top trader at JPMorgan Chase's Chief Investment Office (CIO) in London.
He got the nickname "the London Whale" for the outsized bets he became known for.
But this is no fish story...
Heavy Betting in the Middle of Mayhem
There's going to be a lot of very heavy betting over the next few days, weeks, and months on what's going up, what's going down, and what's going around:
- How far will Facebook IPO price go?
- How far DOWN from here will JPMorgan go, with the FBI and DOJ now sniffing around?
- How far AROUND the globe will the fallout be if Greece loses its game of chicken?
If you don't have the stomach for what's going to feel like an out-of-control rollercoaster ride, sideline yourself.
If, on the other hand, you like a lot of action, welcome to Mayhem - the preamble month to what will likely be the Summer of Some Discontent.
That is, unless you like rapid-fire trading.
Which, by the way, is not just fun, but can be very, very profitable. I'm in, and so are the subscribers to my Capital Wave Forecast. We're gearing up for some heavy betting in the weeks and months ahead.
So, what's front and center today? You know. The big three headlines: Facebook, JPMorgan Chase, and Greece. Are you sick of hearing about them? I'm not. I like trading the headlines.
Here's my "heads-up" on the big three headlines.
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- Paulson Cuts Stake in Bank of America, Citigroup, and JP Morgan
Investment Banking Earnings Highlight Wall Streetâ€™s New Vulnerabilities
The collapse of The Bear Stearns Cos. and Lehman Brothers Holdings Inc. (OTC: LEHMQ), the forced takeover of Merrill Lynch and the decisions by Goldman Sachs Group Inc. (NYSE: GS) and Morgan Stanley (NYSE: MS) to get commercial-banking licenses seemed to signal that the investment-banking business model was dead.
Since then, however, Goldman Sachs, in particular, has posted an astonishing run of profitability, earning gigantic sums even while the rest of the U.S. economy languished.
But now it may be time for those Wall Street heavyweights to pay the piper: Heavyweights Goldman Sachs and Morgan Stanley are posting their third-quarter results this week. U.S. investment banks are looking at their worst quarter since just after the Lehman collapse. And analysts are slashing revenue forecasts just as the top players in this closely watched and often-vilified sector are getting ready to announce bonuses.