If you think the Federal Reserve’s struggle with its tapering problem is bad, stay tuned because you ain’t seen nothing yet. Take a look at my chart series below and in a matter of seconds you get a feel for exactly what the Fed has done for the stock market. There isn’t a shade of […]
Hedge Funds Take 25% of Rhode Island’s Profits
Taking a quarter of the profits in fees is outlandish especially when the profits are a thin as they are for Rhode Island. The Wall Street Journal reports: The Employees’ Retirement System of Rhode Island puts 14% of its investments in hedge funds. One firm it invests with, California-based Ascend Capital LLC, recently offered to […]
Deleveraging is Over
Banks are happy to lend to you when you don’t need the money. For many companies that’s exactly what’s happening as today’s rates are too low to pass up. The Wall Street Journal reports here on the current releveraging. Five years after excessive debt propelled a housing-market collapse into a financial crisis and recession, similar […]
Record Low Rates
“In my 30-year career, I’ve never seen nonconforming loans priced below conforming loans,” said Brad Blackwell, executive vice president of Wells Fargo Home Mortgage. Welcome to Bernanke’s world where the well-heeled can get a Jumbo mortgage rate lower than a conforming one. This puts a hurt on the one group, first time buyers, that Bernanke […]
When Genius Failed
About a third of all hedge funds use a “relative value” arbitrage strategy. The key ingredient being leverage, which is used to suck-up nickels from around the world like a new Dyson DC47 vac. The strategy may look good on paper, but turns ugly when real life gets in the way. As an 80-year old […]
40,000 Members Quit
The International Longshoremen and Warehouse Union (ILWU) is dropping out of the AFL-CIO. It’s about time. Why pay union dues to leaders like Richard Trumka that are only worried about lining their own pockets? In what is being reported as a surprise move, the 40,000 members of the International Longshore and Warehouse Union (ILWU) announced […]
Dow Down 4.3%
This is the Fed’s market. The carnage in the foreign exchange market is proof positive that Bernanke and Co. is in way over its head. Meanwhile the Dow is down 4.3% in August and on its way to its worst month since May 2012. Steve Russolillo explains in the Wall Street Journal: The uncertainty explains […]
The World is Going to Change
The investing world is going to change in a few weeks when companies like PIMCO are allowed to sell alternative products to retail investors. These products are going to be snapped up by the uninitiated hoping for a higher return…for a fee of course. Has everyone forgotten 2008?
Safe Haven
Gold is your insurance policy for your portfolio. It acts as a counterbalance when investors smell fear and bail out of stocks. That’s exactly what’s happening now. Too bad for those who sold their safe haven investment at the bottom. Claudia Carpenter and Phoebe Sedgmann write at Bloomberg: Gold climbed to a three-month high in […]
Activist Investor
Where’s the fiduciary responsibility to taxpayers? Susan Combs eviscerates activist investor behavior by public pension funds in today’s Wall Street Journal. It seems we’re living in the era of the “activist” investor. Not long ago, people who used their few shares to push a point at shareholder meetings may have been marginalized as oddballs. Today, […]
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