Here’s how the fable goes…
Jim is in the boardroom talking to his three young analysts about where the mutual fund they manage should place its billions of cash, as the firm recently exited some equity positions.Read more »
Monday may have marked the beginning of Santa Claus season for stocks, but it looks like Saint Nick was a day late this year.Read more »
Let’s see. MF transferred $200 million to their clearing bank JP Morgan in London three days before their bankruptcy according to the WSJ. Dealbook says it was on the LAST business day. And it took the regulators THIS long to find it?Read more »
Yesterday the House of Representatives rejected the Senate-passed payroll tax cut extension and unemployment benefit bill in a 229 – 193 vote. If these cuts are allowed to expire, 160 million Americans will see a tax increase while about 2.2 million long-term unemployed will have their benefits disappear.Read more »
If you think 2008 was a bad year, wait till you see 2012!
The world’s largest banks have far less capital, the world’s largest governments have far less bailout power, and each is pulling the other into an abyss.Read more »
I believe gold hit a bottom last week, and I believe it will enter a multi-month rally starting now.
I also believe that the U.S. dollar hit a near-term peak this week, and I believe it will enter a multi-month downtrend, starting now.Read more »
Net shorts by speculators in the euro versus the U.S. dollar reached a record high of 116,000 contracts last week, according to the CFTC’s commitment reports of futures positions at the Chicago Mercantile Exchange.Read more »
Back in June, I warned readers about the breakdown in Wall Street’s favorite China stocks… the Chinese “Internet plays.” These stocks include Baidu, Sina, and Sohu. These are companies with services similar to U.S. companies like Google, Yahoo, and Twitter.Read more »