Captain's Blog, stardate 5/25/07

NEW YORK (Fortune) -- MARKETS: I know we've been down a bit for the past few days, but I'm sorry this is all too perfect for me. (Do you remember the tune "Itchycoo Park" by the Small Faces? "It's all too beautiful, It's all too beautiful") I don't disagree with Greenspan, but I wonder what his agenda is? Speaking fees? Telling the truth? Speaking out now that he can? Must drive Bernanke crazy!....Deep Blue speaks: "It's the new economy 2.0 - it's going to go on for another 3-4 years! [right] Why is everyone going to act shocked when this all ends ugly? And on a global scale - will the last non-correlated asset please stand up..... oil, real estate, timber, gold....... any left. Wampum anyone? Me, I'm moving back into gold and forestry/timber. Everyone scrambling to find the next buyout target kinda remind me of everyone running to find the next hot Internet company." Tell it Blue!

IPHONE: Stopped by a Cingular store the other day to see what was going on. First there is no signage whatsoever for THE phone. "Why" my daughter, who desperately wants one, asks? Because if they advertise it, that would completely freeze phone (and phone plan) sales for Cingular, ahem, AT&T (Charts, Fortune 500). A saleswoman there was happy to talk about what some call the Jesus phone. She said that she would be delighted to put me on her list of people to call when it came in. She said she had 25 people on her list and other salespeople had more. "Therešs going to be a line out the door," she said. So when's it coming, I asked? "Oh sometime in June or July." Hmmmm...I thought it was mid-June fer sure. You saw the erroneous news story the other day that the phone was delayed? Man, sometimes I feel bad for Apple (Charts, Fortune 500), they are under a dadgum microscope! Price of success, I guess.

COMING UP IN FORTUNE: The next issue is the best one we've done since Halloween! Next week you can tell me if you don't agree....Now usually I don't like to do this because competitors are always peeking, but I just couldn't resist. We do a big story on Jono Steinberg, who has a cool new investment company called Wisdom Tree that he runs with Michael Steinhardt and Jeremy Siegel. And of course Jono is the son of one-time billionaire financier Saul Steinberg and is married to Maria Bartiromo, (and yes, in the interest of full disclosure, I've been known to pal around with them). This should be an amazing inside saga of a wealthy young, hot in the swim couple. Look for this story soon!

LOOSE CHANGE: Books: Just started up "The Siege of Mecca" by Yaroslav Trofimov, which is amazing. It's when 9/11 began, in 1979!....Also will jump into "Fiasco" by Thomas Ricks tonight!....When was the last time you curled up with a single malt scotch and listened to some Buffy Sainte-Marie? (I didn't know she went to U Mass and has a PhD?) I haven't listened to her since I was like six ("Maple Sugar Girl") and I don't like Scotch. Hey, anyone know how about high-end Canadian whiskey? Jim Aley? Check this out...Peggy sent me this trippy little bird....Okay, so I saw "Van Helsing" on TV the other night. Only the worst movie ever made. What's your list of worst? I've got "Master of Disguise"; "The Cook the Thief His Wife & Her Lover"; "The Mirror Has Two Faces" (in fact all Barbra Streisand movies...); "Boxing Helena" and "Little Nicky"...send me your picks. (No Eddie Murphy movies accepted.)...Hmmmm, which Fogdog has this going? Why, it's Brett Allsop! Hi Brett!....Are you down with Hurricane Chris? Here's his Myspace....Why are so many journalists drinking gin and tonics all night in London these days? (tee hee)