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Breaking News: UBS Announces $12 Billion Loss, $19 Billion Writedown & Chairman Ospel To Step Down

Posted by timothysykes on Tue 1st of Apr, 2008 12:47:46 AM
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Just like the title says. Switzerland’s largest bank lost $12 billion in one quarter and is writing down just over one third of their entire $55 billion marketcap. Long-term investors, read it and weep. The loss was actually anticipated by ANALysts, so it’ll be interesting to see how much damage there will be to the stock.

ubs 1 Breaking News: UBS Announces $12 Billion Loss, $19 Billion Writedown & Chairman Ospel To Step Down

I said it once and I’ll say it again, all these banks and brokers are nothing more than scummy peddlers. the sooner you stop believing a word they say and begin expecting the worst, the better off you’ll be. Rest assured, this is not the last mammoth scummy p eddler writedown…not by a long shot!

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  • timsykes
    That bizweek cover was actually for the avian flu, but thats old news, now its just corrupt bankers, much bigger implications
  • spud
    well the last time the market went down in jan of 2000 it hit bottom almost 3 yrs later in oct of 2002 after all said and done the dow had lost 34% -curent market would have to end up at 9400/9200 to have the same play-that was one sector tied to the banks greed-TECH!
    now all other sectors feed off of housing and post gains after there is a surpus of money generated and consumers feel comfortable to spend$$$$$$$$$$$$
    we seem to be a long way from that unless everyone writes down their losses and balance the books asap-whats the chance?
    the banks are making money off of the spread-spread needs to be even larger-chopper ben needs to go to 0000000000000000%%%%%%%%%%%%
    or we will waffle for awhile and most will lose all their wealth trying to wait out the banks-banks are taking it all back-every last dime they can-god help us-i am not smart enough to play this market-i will watch you tim
  • glad i wasn't invested in that stock! ouch!
  • Oliver
    im impressed by how calm the markets took this news
  • timsykes
    Loving the green futures, i know i shouldnt care about the overall market, but in the last few days, i bought some VWELX...holding 11,700 on the Dow (former breakout level) was a major bull sign
  • Dan
    Tim, what do you think about tma. I am in at 1.18. Where could tma run to today? Thanks Tim
  • Ed
    I wonder who will be the next one?
  • timsykes
    i have no idea what TMA is gonna do, your job today is to read back the past 300 posts here so u can learn that 99% of stocks out there are random ass wall street guessing games. avoid. look for trades where you have an advantage
  • Dan
    Tim do you drive a scooter I think i saw you driving one last week in the city ?
  • timsykes
    nope, i blog so much i hardly even go outside anymore
  • Farsighted
    today wasn't a day to be short. Ouch!
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Start Here

Who Is Timothy Sykes And Why Should I Care?

See Tim's full bio HERE. Tim turned a few thousand dollars into a few million by taking small gains time after time on hundreds of volatile penny stocks, discovering that his trading strategy, while consistently successful, works best for those with smaller accounts.

Determined to teach others this PennyStocking trading strategy (learn more HERE), he went back to his original $12,415 roots (already $58,000+ even though the stock market has crashed) to show everyone how to turn thousands into millions, even while having a life (somewhat) and making plenty of mistakes. Currently he is the #1 ranked trader out of 25,000+ on Covestor)

How Can I Consistently Make Money In The Stock Market?

Hard work, Determination and Know How.

Hard work to learn how the greatly misunderstood niche of penny stocks provides opportunities every now and then on which you should pounce.

Determination to seek those probable profits out and know how in order to actually profit from them.

Long story short, wait for stocks that are extremely volatile - for whatever reason - and then aim to take small profits (between 10 and 50% within a few hours, days or weeks) here and there, either from betting on higher or lower prices (yes, you can make $ betting on lower prices, it's called Shortstocking (learn more HERE).

Why Penny Stocks?

As Tim explains in several ALL-NEW instructional DVDs (see them HERE) and in over 2000+ blog posts, penny stocks are the most hyped and corrupt niche in the entire investment world. These two qualities make them the easiest to profit from (legally) because the vast majority of people who play penny stocks are suckers and all-around ignorant people. If you have any intelligence whatsoever, you have a clear advantage and it's like playing basketball against mental midgets.

Where Do You Find Stocks To Trade?

This is the #1 FAQ (see more HERE) and it is answered in THIS instructional DVD.

Of course, that's just a brief introduction - to receive a full education, there is Tim's book An American Hedge Fund which is the story of his remarkable rise and lessons learned.

To truly increase your odds at profit, Tim has designed an entire set of detailed instructional DVDs, covering all the variables that amount to over 24 hours of instruction (see them all HERE)!

TIM Trades

View All
Date Stock Buy Sell Net
Nov 19 AENY $2.80 $3.02 $1148
Nov 18 NLST $4.16 $4.40 $947
Nov 18 IMGG $1.42 $1.64 $2094
Nov 17 NLST $5.04 $5.59 $2195
Nov 13 VRMLQ $21.50 $22.97 $2901
Nov 11 EONC $2.61 $2.80 $687
Nov 10 EONC $2.74 $3.36 $9784
Nov 6 QXM $4.31 $4.80 $1936
Nov 4 COT $8.66 $8.88 $642
Nov 4 QXM $4.61 $4.89 $822
Oct 30 DDRX $25.70 $26.53 $812
Oct 29 CTDC $4.00 $4.42 $781
Oct 26 AWSL $3.24 $4.10 $2516
Oct 23 RODM $5.27 $5.23 $301
Oct 22 AMLM $2.69 $2.97 $820
Oct 22 USEG $6.12 $6.09 $85
Oct 20 CBOU $8.93 $9.06 $243
Oct 16 VRMLQ $16.79 $18.65 $2773
Oct 13 YONG $11.05 $11.66 $1202
Oct 13 NPHC $0.59 $0.71 $583
Oct 12 IMGG $0.60 $0.70 $682
Oct 9 ZAGG $5.50 $6.10 $2380
Oct 7 GVBP $0.03 $0.27 $702
Oct 1 NPHC $0.70 $0.85 $1482

Total: $98,094 (681%)