Let’$ talk about the green this St. Patrick’s Day

There’s not a better time to talk about some green stuff than St. Patrick’s Day.

On one hand we have word that AIG just handed out $165 million in bonuses — with our money that our Uncle Sam shelled out.

Like the frustrated aunt, I was screaming from the get-go for our dear old uncle to teach AIG, and all those like them, a good, solid lesson by going through bankruptcy proceedings to see if at the end of the day it was able to restructure on its own two feet.

But, no, our Uncle Sam handed over the cash, and now our uncle is shaking his head saying “shame-shame-shame on you — you really disappointed me” to AIG.

Give me a break.

And now comes word this morning via the Wall Street Journal that Citi and Morgan Stanley are looking for their own ways to sidestep the bonus caps…. oh puhleez.

With Marc Faber telling CNBC that the government bond market is a disaster in the making — Uncle Sam should be shoring up its own bottom line before delving out the cash.

But its not just people on Wall Street and D.C. eyeing the green today — I have a gut feeling that a lot of novice investors, who are completely clueless about the trading — not investing — market we’re in, are letting their emotions stir them into a frenzy just itching to plank down their cash in hopes of seeing it soar.

And I can guarantee that most have no idea what a put or a call option is — and have no idea that the movement they saw in last week’s market centered heavily with shorts covering their trades.

Alas, its the same-old “you can lead a horse to water, but you can’t make him drink” problem.

Newbies just want a quick hit — with no intention of doing any due diligence.

And they’re going to get burnt — scorched.

Same names as previously mentioned in earlier columns on my due diligence list.

Just remember the usual disclaimer: Don’t base any investment decisions on anything you read here — do your own due diligence — or at least enough research to pick the right professional to handle it for you.


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