Monday, May 02, 2011

Good news.

Osama Bin Laden can now be filed away as defeated criminal (though his history is a bit difficult to explain to a 10 year old when she asks "Wait, we gave him money and guns before we spent 10 years chasing him?") and his demise probably explains much of the crazy trading that occurred in overseas markets last night.

I can remember way back in 2001-02 that we would always want to have a small position on just in case we caught OBL because we expected it to cause a 10-15% jump in stocks instantly (today's market reaction has been decidedly muted in the US). Crude oil dipped initially on the news but has since resumed it's march forward - apparently OBL did not have a hidden reserve of 400 billion barrels of oil in that Pakistani compound so more fighting in Libya means $4 gas is here to stay for awhile.


A couple of interesting tax tables for those of us in NY.


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