“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, […]
The Kings of Real Estate
Ben Bernanke’s low interest rates haven’t made life any easier for first-time home buyers. It’s almost impossible for this group to get a mortgage, never mind trying to compete with the well healed private equity guys. Cash is king in bidding wars and Wall Street has plenty of cash thanks to Bernanke & Co.’s free […]
Countdown: Top 10 Bug-Out Basecamp Essentials: #1
It’s that time; today is the final installment of the Top 10 Bug-Out Basecamp Essentials. So far you have purchased the gear necessary to escape the city limits, collect your family members, ascend the mountain to your retreat and make it livable and fortified once you’re there. Only one major element remains necessary to your […]
Have You Forgotten 2008?
As you chart your investment course it’s crucial that you position yourself to be able to live to fight another day. With the Fed’s zero percent interest rate policy it’s easy to forget the importance of bonds in your portfolio. And with the end of 2013 in sight, mutual fund companies are licking their chops […]
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