Wednesday, November 04, 2009

The Stinky Cheese Man

You know that, outside of some otherwise intemperate moments, that I'm a nice person. Some years ago, I was driving into town, and I decided to give an old man who I often see walking down the road a ride. It was raining, and I knew where he lived.

Unfortunately, when we get old, our olfactory senses diminish. Well, I'm not that old. He was drunk, his breath was bad, he smelled of urine and....yes, stinky cheese. I gave him a ride for about 8 miles. I thought that I was going to retch, and I wanted to be polite and not cough or make noises. The only other time I've smelled such stench on a person was when a morbidly obese woman was in the waiting room at a hospital. Anyone who has young kids will have had to make one of those late night trips to the pediatric urgent care. Clearly there were some crevices that she wasn't able to get to and the smell was worse than a dead skunk.

So what is my point? It's beginning to feel like to me that UBS is now the stinky cheese man of the banks. Here's a chart:

They were even downgraded by themselves to 'Sell' (From FINVIZ)



Here's an unflattering Bloomberg story. Click on graphic to read:

3 comments:

Chris Lovell said...

I'm speechless... who downgrades their own company? Every self-respecting oligarch will stoke the smoke and mirrors until Armageddon. 14.5 times earnings? I would short this turd, but it seems too obvious... what's the catch?

The simple fact that I hesitate to short such a company shows how twisted the game really is.

R said...

Wow, what a picture (not to mention the ol' factory sensory perception) you have painted for us. Thanks for your continuing elucidations here.

Leisa said...

Chris...so did Lehman...so did Bear Stearns. Not saying the same will happen; not even intimating it.

R, thanks for your nice comment.