My Day in Times Square

It was an unprecedented week in the market not seen since The Great Depression. Lehman gone. Bear gone. AIG had 2 arms and 1 leg cut off. Fannie and Freddie are in wheelchairs. I could not resist driving by the Lehman Brother’s building in Times Square on the way home Friday. As I looked out my rear view mirror I was just amazed at how desolate the Lehman headquarters was. There were no newspaper vendors or hotdogs carts around peddling their wares. Even the media had moved on to the next news headline. Only one person stood in front of the building. The Naked Cowboy, he obviously is still in denial. I bet his income from strumming his guitar has dropped 90%. He might be the first true casualty of the trickledown effect from the Lehman bankruptcy. For a man who already lost his shirt to make an income, he might have to put it back on and get a normal job. It was a sad day indeed. Very sad.

Still Short GS and CALM going into Monday.