The Wall Street Journal – Trouble Not as Close as It Appears And the Citigroup Economic Surprise Index has had a recent sharp rise to its highest level since March. It measures the degree to which economists’ consensus estimates have been too optimistic or pessimistic about data releases. Peaks, showing optimism, and troughs, showing pessimism,… Continue reading The State Of The Economy
The Economist – The world economy: Investors, beware As long as politicians in the world’s big three economies continue to dither, another global recession is possible FOR investors around the world, the recovery seems assured. The MSCI global share index has risen almost 10% since July. The credit for this largely goes to central bankers.… Continue reading The World Economy
Comment Let us briefly summarize our position on the fiscal cliff: For weeks we have noted surveys showing nearly 90% of respondents believe the fiscal cliff is not an issue of immediate concern. We agree with this notion. So given the near universal believe that the fiscal cliff is not an issue of immediate concern,… Continue reading More Panic Over The Fiscal Cliff
The Wall Street Journal – Depositors Turn Up Heat on Ailing Spanish Banks Eugenio Nuñez Cobás stormed into a bank branch in this coastal town one morning in August with three dozen fellow customers yelling “Thieves! Thieves! Thieves!” Then they returned to the street and pelted the facade with eggs, forcing the branch to close… Continue reading Are Spain’s Depositors Running The Show?
Reuters – Analysis: Options traders get set for fiscal cliff, close vote According to InTrade, current odds show President Barack Obama will be re-elected. However, expectations are Republicans should maintain control of at least the House of Representatives and possibly gain marginal control of the Senate. Republican presidential candidate Mitt Romney’s strong performance against Obama… Continue reading Obama’s Intrade Slide Continues
Market Beat (WSJ blog) – Jack Welch: ‘I Wasn’t Kidding’ After setting off a minor social media firestorm with a tweet suggesting the Obama administration had manipulated the September jobs report, Jack Welch wants to get one thing straight: He meant it. “I wasn’t kidding,” the pugnacious former CEO of General Electric said in an… Continue reading Jack Welch Knows A Thing About Manipulated Numbers
The Financial Times – Slowdown set to take toll on US earnings The slowdown in the global economy and anaemic US recovery is expected to result in one of the worst US quarterly earnings seasons since late 2009. Analysts expect earnings for the period ended September to decline, the first negative result after 11 consecutive… Continue reading Earnings Season Starts Tomorrow
Financial News (UK) – Banker Awards hijacked by demonstrators A group of demonstrators yesterday gatecrashed The Banker’s Innovation in Investment Banking awards ceremony at The Sheraton on Park Lane and presented Barclays with a fake award for ‘Innovation in Interest Rate Manipulation’. The Intruders walked straight into the hotel. When a receptionist asked if they… Continue reading And The Award For “Innovation In Interest Rate Manipulation” Goes To…
BusinessWeek – Chelsea Clinton Exited Wall Street to Seek Career With Meaning Chelsea Clinton says she left her career on Wall Street three years ago to find more purpose. “Intellectually, I loved my job, but I didn’t get any meaning from it,” says Clinton, 32, who worked from 2006 to 2009 as an associate at… Continue reading Chelsea Clinton Exiting Finance For A “Career With Meaning”
New York Magazine – Clueless Capital: An Interview With the World’s Youngest, Most Charmingly Oblivious Hedge Fund Last week, I wrote about a hedge fund, Lumina Investments LLC, that was run by three college students from North Carolina. The post was a send-up of how self-serious the students had made themselves appear on their website… Continue reading The “Clueless Capital” Hedge Fund Is Seeking Money
Comment Jim Bianco was on CNBC with Rick Santelli yesterday discussing Europe. To view the interview click on the image above. To view any of our recent interviews click here. In the interview Jim discussed how the conditionality being negotiated with Spain is the most important aspect of the European crisis right now. As we… Continue reading Europe And Conditionality