That made me pull up the sleep stocks and sure enough, Respironics (RESP) is at another all-time high. Resmed (RMD) is coming back from a spring swoon and even Sanofi-Aventis is near all-time highs despite Ambien going off patents (I now use the knockoffs).

I have owned them all at some point and still own some RESP in my fund, which has been sold down over the last few years, but likely to remain in my portfolio for many years. I am tempted to add more. What an amazing stock that few have ever heard of.

Here’s Lindsay in the old days of Wallstrip..in her PJ’s. The ending always cracks my kid’s up:

I love the Respironics show. I can’t believe this product actually sells:

Disclosure- Long Respironics

I missed my first MacWorld in 5 years for Wallstrip and the real shit happens.

Thanks goodness for my pal Eddie who had his camera and gave me the juice. I trust his young gun dude opinion and he is blown away. My 16-year old niece wants it more than a car (if offered a car-she can’t be serious).

The only real survivor and thriver in this post iPhone era is RIMM. The rest are dead and wont admit it and cheap pretenders. I missed the show because I am on the redeye to New York. The toughest part will be taking the right dosage of Ambien to fall asleep yet not kill me. I have a freaking middle seat.

Long night ahead….

I say the stock market has been digesting this news for a while and likes what it has to swallow.

I will take his nerdy word for it and his 37 minute podcast with fellow geeks and nerds and the links and comments to the post.

I am going to listen to the podcast tonight and see if that can help cure my sleeping problem. It is cheaper than an ambien.

All the talk of Adobe and Apollo can’t replace my favorite Wallstrip character – “FLASH” :) .

Disclosure – Long Adobe

I floated the idea to Lindsay at a Wallstrip meeting today. She of course is sick of me after just one meeting. I think that means things are going well :) .

I know Trader X is buying whatever she is selling :) . The margins in cologne and perfume is much higer than t-shirts. Take a look at what Unilever is doing with “Axe” and Proctor and Gamble with “Tag”.

I would like to call Wallstrip’s scent – “All-Time High” or maybe just “DOW 12,000″

If you don’t laugh at this, you will find these comments hilarious from my Ambien post:

First Tom on sleep alternatives – I read that the next version of Ambien will be called www.howardlindzon.com. It’s some blog that puts readers to sleep.

And Eddie had this gem to sleep medicine alternatives:

POT – It’s not traded on a regular exchange though.

Believe me, I have tried (try) both :) . Never inhaled though.

Go watch today’s Wallstrip show and you decide :) .

I can’t believe they left the cameras rolling on me all night and that is all they heard by the way :) . By the way, where was Ellen? Filming!

Anyone who knows me, knows that I take sleep and the lack thereof, very seriously. I would not wish sleeping problems on but two people in my life. They probably sleep like babies – and smoke and diet on carbs!

Ambien, from drug maker Sanofi, has been a wonder drug for me – so far – and my family. It has helped me get the sleep I need. It is not the largest drug in Sanofi’s engine, but an important part of their successful history.

Pfizer is working hard on a competitive drug and Sepracor has recently launched Lunesta. The market is “gynormousmungous” TM.

Based on the release of Ambien CR, which did not work for me, I am pretty sure that the patent rights of Ambien are coming to an end for the regular ambien.

I still own the stock, have so since June when it moved to an all-time high. I am down nearly 10 percent on the position since purchase. It is a small position and one of many. As always, I will let the stock do what it does until my stop has been breached (close) or it continues back on it’s winning ways.

No matter what happens to Sanofi and Ambien, you can rest assured that the Sleep Industry is a GIANT and your financial attention should be partially focused in this space. Other sleep related stocks include Respironics (RESP), Resmed (RMD), Sepracor (SEPR), and Pfizer (PFE).

Please share with me and the other bloggers any sleep stocks that I might have missed.

Don’t worry – Google paper will be crap as well – just not yet.

It is the same f@#cking game played over and over by Wall Street. IT IS CALLED DISTRIBUTION. It takes time. When Wall Street gets hold of a beauty like Google, they take their sweet time distributing it one share at a time to every last believer in the story. See – Intel, Microsoft, Dell and Yahoo. Could take 15 years or three. The Google stock distribution game has just begun.

It is the normal complaints I am hearing again – stock is too high, market cap is ridiculous, shares are too expensive, too many acquisitions, I should have bought at $162, should have bought on the pullback to $320…

In the meantime, everyone owns Yahoo and Microsoft – stock is too low, market cap and PE are reasonable, it’s cheap relative to Google, I can always double down cheaper because it’s already so low. OY!

That poor sap at the end of the Wallstrip Google video thinks he is actually smart for owning Yahoo as a proxy for Google. He is waiting for Yahoo to “follow Google’s tracks” . That happiness is called “COMFORT”. It just feels right because the idiot next to you owns it.

Yahoo and Microsoft are in a hole and digging themselves deeper. James Cramer is doing a daily show about who Yahoo should buy. That is absurd. There are no public companies they should have bought save YouTube. But Cramer is crazy “like a fox” and a rating’s hound so it makes for good CNBC fodder.

YouTube was a smart and cheap acquisition. The YouTube haters were wrong. I wrote a lot on the subject predicting a buyout – most recently here . They paid $1.6 billion in stock but have gained $20 odd billion in market cap since the announcement. At the very least it was smart to keep it out of enemy hands.

Whether they integrate properly remains to be seen, but the market has spoken for now. Google just announced great numbers and the stock would have to drop 15 percent to get to pre YouTube market valuation.

The “man on the street” says it’s a joke. “The man” will have changed his/her mind before the Google phenomenon is over.

All that said, I do not own the stock. If it takes out it’s all-time high – it is close – I would own it based on my strategy. I have owned it before and been stopped out of the trend in the summer swoon.

People call those that have bought and held this stock – absurd. I guess it’s normal that Cramer has had about 100 buy and sells of GOOGLE in the past 12 months. His latest is a buy – I think – with a $560 price target.

I think price targets are a sham and are the one true remaining sign of absurdity from the last bubble. They should be banned, BUT that’s another show! We are working on the footage.

PS – Congrats to my friend and contributor Briann Shannon for his positive mention in Barron’s.

PSS – My condolences to Steve Ballmer for looking like a complete putz. What a shitty job to have (other than the pay and perks :) )

If I was a competitor to Google, I would stop freaking out over YouTube (mini tsunami), because you may miss the REAL TSUNAMI.

I don’t know the order of acquisition, but if I was in charge of Google, I would be going for the FREAKING JUGULAR of TECH and the Consumer.

1. To keep people scratching their heads I would do a quick swallow of Zillow – JAB, JAB, CROSS! Zillow gives Google an entry into the biggest consumer market and YouTube gives Zillowers a chance to quicly put a tour up with all the facts. Throw in some personal touches and get the buyer out to see your home, with directions from Google and all the facts from Zillow.

2.3. and 4. 5. and 6. can all be announced on the same day. Apple, RIMM, Ebay, Akamai and Adobe.

Take a big picture of all the CEO’s flipping off AOL, Microsoft, Yahoo, News Corp, Diller and the Justice Department on the front lawn of GoogleCity USA :) .

Apple would likely have been hostile a few months back, but with Schmidt on Apple’s board, the SEED is in place. The rest get their huge payday and go away if they don’t want to play.

To ensure the deals go through – BUY TASER and arm the employees and LOCKHEED MARTIN to protect the Googleplex or Googleville.

What the hell – after taking a few weeks off, BUY PHILLIP MORRIS and shut it the fuck down so that people live long enough to enjoy all the toys! BUT – make sure you push through legalized marijuana. Let’s face it. How much more fun would surfing the web and YouTube be. Shit, you may not even have to buy Akamai, because the web will seem fast enough.

PS – I would than buy Chipotle’s because you need to feed eveybody :) !

PPS or PSS – Owning Sanofi – maker of Ambien – may be a little tuck in so that we could control everyone’s sleep habits. BUT THAT’S IT!

PPSS or PSSP or whatever – The new guys will be chirping about buying an airline. NEVER buy an airline. It would kill everything :) .

Akamai passes $52.

Rimm is near $110

Doesn’t matter.

Did not sleep worrying about my Anglian account. I m making calls to get a picture of my client’s investment. I see another letter in my inbox – this one from Vega Plus:

VegaPlus Letter.pdf

Big Woop. All the letters won’t make up for the calls Julian has had with the manageres at my account. I will find out today I imagine.

To throw acid on my wound I am watching CNBC in the hope of some news -ya right. Instead, “Pat” from Saturday Night Live (Abby Joseph Cohen) was babbling about Dow 1 billion.

One of my favorite market and stock bloggers is back and has a good reason for why he went dark. Congrats. You should read him.

Roger at Information Arbitrage has a great post on Venture Capital Becoming like the Hedge Fund Industry.

Could not agree more and have been putting my money where my mouth is the last few years. I hope to keep doing so.

I am long some Ebay, Adobe, Akamai and Apple and Yahoo tech big cap. I own some Rydex healthcare, XLV and Ambien maker SNY. I am not short anything at the moment in my accounts. I am not as happy as Tim to see the summer go :)

Ben Stein is a great financial writer, but maye best known for his signature line: “BUELLER, BUELLER.”

He has a great article in the New York Times that calls out against Management Buyouts and the Private Equity Firms that make it happen . Here are his 5 main reasons:

• Management self-interest
• Breach of fiduciary duty
• Conflicts-of-interest
• Lack of full disclosure
• Insider trading

It is the weekend’s must read and Roger over at Information Arbitrage, a smart hedge fund dude himself, gives a detailed analysis of the wonderful piece himself .

Unless laws change as it relates to MBO’s, look for private quity firms to grow and grow.

A good interview of Paul Graham of YCombinator, a successful VC who agrees with me that we are not in an internet bubble .

About a year late with this information, Barron’s has an article on housing entitled : “R.I.P., housing market?” . The shame is they cover their asses still by adding a question mark. No longer it is only a magazine worth skimming these days.

If you can’t eneter the site – here are the key paragraphs and links:

If you’re trying to buy or sell a home, chances are you’re taking the market’s pulse on a daily basis. For the rest of us, the Housing Bubble Blog (www.thehousingbubbleblog.com) might be a good place to start. Blogmaster Ben Jones posts several times daily, penning lengthy tomes with lots of links to regional and national housing-related stories. On Aug. 24, the day after the Commerce Department announced that existing-home sales were down 4.1% in July, Jones pulled in links to related stories from publications as varied as Fortune, the Reno Gazette-Journal and the Marco Island Sun-Times. These links take you to the full story.

Other housing blogs worth a look include HouseBubble.com (www.housebubble.com), which posts links to key housing stories daily, and Housing Panic — The Bubble Blog with Attitude (housingpanic.blogspot.com), hosted by a “former homeowner” and “expat,” or expatriate. As promised, attitude abounds — about housing, politics, the Middle East and more — along with comments from readers. There’s some intelligent discussion here, but this blog is not for readers easily offended.

Trying to find a GolfNow course in their fair city that will squeeze me in. BY THE WAY – Good to get the Motor City up with GolfNow and you should see Chicago and Milwaukee in a few days.

I need a few days off from a keyboard and Crackberry. My wrists are completely destroyed. Has anyone else started to get that way with tendenitis pain. I am quite nervous actually and will obviously need to make some sort of change.

Andy sent me an article that now says Crackberries are addictive . YA THINK !

Seems that Crackberries are harder to give up than Ambien -WOW – “I picked a bad week to quit sniffing glue!”

Seeing that I can’t do both at once, I am headed off to get some Ambien for the trip.