Here are some random comparisons that show just how crazy things are out there right now. Just a couple of months ago, who would have thought that Goldman Sachs (GS) and Oil would be trading right inline with each other -- at $50? Or how about the New York Times (NYT) and Citigroup (C) -- at $5? Unfortunately, it's looking like a race to the "zero" finish line for the latter two.
The pressing need to raise capital simply has made for one massive correlated trade. This current round probably is near over...
Posted by: Tom Chechatka | November 20, 2008 at 07:15 PM
What's the story here? NYT has a market cap of 800 million dollars, Citigroup has a market cap of 20 billion dollars. Comparing nominal stock prices is completely irrelevant.
Posted by: Jack C | November 21, 2008 at 01:39 AM
If oil drops below 45,TARA SANDS go "neg a tory" watch out Canada!!!
Posted by: dj | November 21, 2008 at 09:49 PM