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  • Benjamin Roth: The Great Depression: A Diary

    Benjamin Roth: The Great Depression: A Diary
    It's all here, times change people don't -the endless govt programs that fail to stimulate the private sector -the ups and downs of the economy, the veterans pension stimulates just as the housing credit did, until of course the money runs out -Roth is a attorney in Youngstown Ohio who kept a diary regarding the economy from 1930 until WW II breaks out, he is objective, candid, and forthright which is more than we get from Washington DC now or then highly recommended

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October 10, 2011

Putting It to MGM

Monday Oct 10, 2011

We have been consistently bearish on MGM and its prospects in macau. There is an article on the number of puts versus calls in today's WSJ on page C 7. MGM has fallen 40% in the last three months.

Now gambling revenue in Macau is not rising as fast as most analysts thought. This is not the case for the analysis at TMP. Overbuilding in China will lead  to a slowing economy and less gambling revenue, just as it did here in 2008.

Markets are up in European trading this morning, the rally continues, squeezing the hedge funds that are short.

Posted at 09:00 AM in Accounting Analysis |

Tags: MGM

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