This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

The Five Dumbest Things on Wall Street This Week: Feb. 8

5. Berlusconi Comes Back

Bentornato, Berlusconi! It's so nice to have you back where you belong.

Right here on our 5 Dumbest list, that is.

Italy's former prime minister returned to the spotlight last Sunday with a fiery stump speech in Milan announcing his "last great electoral and political battle." Silvio Berlusconi, who was pushed out of office in November 2011 as the country's borrowing rates skyrocketed, promised his supporters sweeping tax cuts and bunga bunga sex parties for all if his center-right wins the election later this month.

OK. The billionaire didn't offer voters pro bono bunga bunga. Nevertheless, he did give them a self-described "shock proposal" to scrap outgoing Prime Minister Mario Monti's much-hated levy on primary residences.

For the record, a recent survey showed Berlusconi's rhetoric appears to be working. His center-right coalition gained 1.3 percentage points to finish the week at 27.8%, compared with 32.8% for Pier Luigi Bersani's center left, which dropped 1.6 percentage points. On the flip side, Italian stocks, as measured by iShares MSCI Italy ETF, have fallen with the rise of Berlusconi's poll numbers.

"I want to help Italy get out of this dark atmosphere the technical tax men have put it in, and in which the tax men of the left will leave it mired," said Berlusconi, deriding both Monti's centrist coalition and his center-left opponents.

Monti was quick to hit back, saying Berlusconi "has never kept any of his promises." Meanwhile, Gianfranco Fini, the speaker of the lower house of parliament, tweeted that in his second cabinet meeting, Berlusconi would "decree that everyone wins the lottery."

You bet your culo, Gianfranco. Berlusconi has always been a winning ticket for the 5 Dumbest Lab. That's why we are proud to support him in his quest to retake the prime minister's position.

Berlusconi is not really campaigning for his old job. If Berlusconi's People of Freedom party wins, that position will go to party Secretary Angelino Alfano. Berlusconi said Sunday he would serve as both economic minister and industry minister in an Alfano administration.

"That is, if Angelino Alfano reconfirms his trust in me," Berlusconi laughed about the man who would clearly be his puppet.

Don't worry, Angelino. The joke's not on you. It's on the Italian people and most assuredly on German Chancellor Angela Merkel.

Although we doubt she is smiling as brightly as we are about Silvio's comeback.
1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
HLF $49.79 0.00%
HPQ $30.02 0.00%
WYNN $100.80 0.00%
AAPL $117.51 -0.79%
FB $93.65 -0.52%

Markets

Chart of I:DJI
DOW 17,598.20 -91.66 -0.52%
S&P 500 2,098.04 -5.80 -0.28%
NASDAQ 5,115.3820 -12.8990 -0.25%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs