Writing in The Daily Reckoning [1], Bill Bonner offers this snippet of investing Gloom and Doom: “Foreclosures in the yankee state [Massachusetts] are running three times last year’s level. And losses are working their way up the socioeconomic ladder. Goldman Sachs’ (NYSE:GS) Trust 2006-S3 is a sophisticated investment instrument containing 8,274 mortgages. One out of every six of those mortgages is in default – only 18 months after the thing was put together. When that many people stop paying, it wipes out the entire capital value of the derivative. And since speculators usually take leveraged positions, the losses can go much further.”
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To follow up on yesterday’s post about the imminent short supply of infrared chemical light sticks, I heard that Ready Made Resources does have some left in stock [2]. (They have just been reclassified and will no longer be produced for the civilian market in the US, so stock up!)
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Larry W. forwarded this link: Staring Into Countrywide’s Abyss [3]
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I just heard that CGW [4] (one of our advertisers) is currently offering deep discounts on some Trijicon ACOG [5] tritium-lit scopes and a few discontinued Microtech Amphibian knife models.