“If only Mattel Inc. were in the brokerage business,” says David Weidner in MarketWatch. Then maybe we could have a recall of “radioactive” hedge funds and “anything-backed securities.” Wouldn’t it be nice “if we could take them all back and get a refund”? Essentially, that is what investors are trying to do, bailing from hedge funds, steering clear of junk bonds, and running from private equity firms like Blackstone and Fortress. So treat those investments like lead-covered Chinese toys and demand a refund. “If they haven’t already made you sick.”
Look past the Jobs circus
“When Steve Jobs says jump, should the market’s response always be, how high?” says Dan Burrows in SmartMoney.com. Apple Inc. shares rose 14 percent over several days after the company announced yesterday’s big event, and the event “didn’t disappoint”—Jobs unveiled “a fairly strong extension of some super-popular products and services.” But investors should look beyond “the three-ring circus atmosphere that Jobs takes pleasure in perpetuating” and focus on Apple’s fundamentals: strong iPod, iPhone, and Mac prospects, and a new operating system. “The fundamental picture, after all, is shiny enough.”
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