According to Finextra, NYSE Euronext has launched an online 'community' for executives of NYSE and Amex-listed companies. The community is going to offer them the opportunity to collaborate with peers to share ideas, and get access to each others' blogs and other information. When I heard this I had to laugh. I can just imagine an exec at Bank of America sending a virtual prayer stone and an "OMG" to his counterparts when financials hit the skids in the market. Or a Citi exec sending out a "Thank God its Friday" message with a "Smile". haha.
What I'd LIKE to see is an exec at a bulge bracket bank sending out queries in the morning that go like this: "What shall we do today? Spook the market by selling off financials and then run back in to scoop up our own shares later in the day at a cheaper price?" Or this: "Could someone please make sure Jim Rogers gets on CNBC this week and hypes commodities? We are looonnggg!" "Smile".
Speaking of commodities hype, hedge fund manager Michael Masters spoke to the Senate Agricultural Committee yesterday and told them that nothing had been done to stop another oil bubble from happening. Which he thinks has already started. Another oil bubble is good for me, it might help to sell my book! I'm not so sure it is good for the economy.