Earlier today I was closing some deals when I remembered that it was time for me to address the eBusiness Cashual nation. I started eBusiness Cashual (eBC) while traversing a myriad of sumptuous hotels and satellite castles that Robin Leach could only add to his champagne wishes and caviar dreams. It was within these undisclosed locations that I made my formal Cashual breakthrough: my rags to riches tale is fodder for more than a Hollywood epic. I had undervalued myself—I had a higher purpose.

As this indubitable knowledge materialized, the eBC concept was conceived—yet it remained unborn. The possibility hung in the air in front of me like a 15-year-old awaiting his driver’s test. Still the dream was taking form, and I believed in it.

Laboring to birth my business brain-child, I considered the most important aspects of industry and production. The best businesses are the ones that empower others to create their own businesses. Think eBay or Google or Amway. How many people have founded businesses upon the generous platforms of the these giants? The catch: though free to a large audience, these businesses do require some fees to be paid. Someone is taking a cut. But If I could come up with a business so robust that it was impervious to these cagey cuts, a profit would be profit.

Now I have transcended entrepreneur and become philosopher. If I define my business as one that empowers others, but also disables the process of profit skimming, I may just have a new concept: the reverse pyramid scheme!

Standing atop my pyramid and reveling in my intellectual bounds, I realized after all, it is all about me. In attempting to explain how it wasn’t, I confirmed that it was. The best businesses are free to a very large audience, are viral, and no one else takes a cut of the profit. Deducing through the algorithm, it becomes clear: The best businesses are lifestyles.

Thus the painfully beautiful birth of eBC—the lifestyle of Vinnie Vega—sprawling in it’s newborn purity before you. EBC is a collaborative enterprise contact management cloud solution from which we can all gain. It is what it is. There is no face or book in it. Here at eBC, we start in the street, steady on our feet, and we always keep it eBusiness Cashual.

We Love You eBC.

Meanwhile, back at the office, I just hung up with Tony Stark. Due to client confidentiality, I am unable to disclose whether I run money for Tony. I can say that due to the magnitude of cash flows in and out of Stark Industries, Tony often comes to me for guidance. He has also borrowed my plane, The Errol Flynn, on occasion.

Before I run off to afternoon meetings, my thoughts turn to the replay of today’s tape.

The S&P closed off .34% or -3.64 points. The NASDAQ closed positive 5.18 points or .24%. Spot gold was off $3.25 and sits at $1,002.90. Oil futures closed lower by 3.57% to settle at 69.50.

Friday Night Announcement

After a strategic late Friday night lowering of guidance, Potash (POT) gapped lower this morning. The bookies — who make money no matter where Potash trades — were out in full force and their comments boosted the stock off it’s lows at $90.82 to close at $93.09. Broadpoint AmTech reiterated their buy rating, price target $116. BofA/Merrill maintaned their buy rating, price target $114. Fading the crowd was Soleil Securities, who cut POT from to hold from buy, price target $88.

Friday night press releases are an ominous sign. If I owned any Potash, I’d be selling it as fast as I could.

Caterpillar Stats

In other news of interest, Caterpillar (CAT) released dealer statistics for the June to August period. Retail machine sales were down 48%. CAT has rallied from the low 20s to the mid 50s since March. Valuation seems unjustifiable here, especially when the forthcoming rally in the dollar is factored in.

Ponzi Accounting

One of my favorite shorts of yesteryear, Prologis (PLD) was back in the news today with an announcement of a consent solicitation for $2.96 billion in debt securities. Prologis has taken advantage of the market strength over the past 6 months to — through various mechanisms — raise an exorbitant amount of capital. The accounting at Prologis continues to resemble that of Enron. At some point, the common equity in this company will be wiped out. In reaction, Wall Street will respond with the ever popular retort: How could we have known?

Nostalgia

On September 23, 2008 I posted my analysis of Research In Motion (RIMM). In what was one of the largest profits on my P&L last year, RIMM moved from $100 down to $40 in just over a month. This year, sports analysts on business TV are pushing RIMM even harder than they were last. On a technical basis, the price action in RIMM looks healthier this year. However, the cycles run with the seasons. When RIMM lowers guidance this week, the shock factor will be of greater magnitude than last year. In what mirrors the timing of their release last year, RIMM is announcing their earnings on the same date — September 24th — and the same day of the week — Thursday. I own puts in RIMM and my nostalgic mind is counting down the time until their numbers hit the wires.

Rimm - September & October 2008

The market is gearing up for something big and I’ll continue to document it here — where as always — the beat goes on.

This is, in essence, the entire story of the stock market, as I have found it. Like the South Sea Bubble, the great tulip trading mania in Holland, the Ponzi swindles, and the chain letters of the depression, it is kept in motion by one thing–faith. Sometimes the chain is broken, confidence lost, the whole house of cards comes tumbling down, and we have another Wall Street crash. Then it starts all over again.
-Nicolas Darvas
Wall Street: The Other Las Vegas

A relatively quiet day on Wall Street today as the dollar rose so equities sank.

Someone mentioned that there was a meeting amongst bankers today. Of course, more important than the meeting was the press circuit. Special emphasis was likely placed on make up and less expensive clothing. After all - this bonus scandal is a bit hot right now. Best not to wear the $10,000 suits around for a while.

Supposedly, one of these guys that runs one of these banks (hint : $BAC) declared over the television that at the meeting everyone decided that “we are all in this together”.

Now that, my friends, is the epitome of irony. YOU’VE been in this together for a long long time. Unfortunately, what YOU were in on (excessive use of leverage and negligent risk management) is what brought US here. Now YOU are declaring WE are all in this together. Unfortunately most of US aren’t running around with multimillion dollar bonuses in our bank accounts. Now WE are all in it together. Why ? Because of the losses that YOU racked up through deplorable risk management and excessive leverage. Now, all of this has to be paid for by US.

And that just isn’t right. Is it?

Peace

The Headline:

ProLogis (PLD, $9.45, -$0.56, -5.59%) said it hadn’t decided whether to deliver its quarterly dividend payment in cash or partially in stock. The warehouse developer had cut the dividend in November to a $1 annual rate from $2.28.

The hilarity of it all. The shell game has come to an end. Now, they may pull the same thing that Vornado Realty (VNO) did. Should we pay less than we said we would or should we pay less than we said we would?

I’ll try to buy more puts tomorrow. This is fun.

Peace

a sinking ship

The techniques I developed for studying turbulence, like weather, also apply to the stock market.
-Benoit Mandelbrot