The Wall Street Journal – SEAN FIELER AND JEFFREY BELL: Our Unaccountable Fed Not having a real budget means the Federal Reserve doesn’t have to compete with anyone for scarce resources. What the central bank needs is a little money competition ‘I will maintain to my deathbed that we made every effort to save Lehman,… Continue reading Federal Reserve Accountability
CNBC – Buffett ‘Snow Job’ Has Conned the Media: Steinhardt Berkshire Hathaway Chairman Warren Buffett is the “greatest PR person of recent times” and has “managed to achieve a snow job that has conned virtually everyone in the press,” Wisdom Tree Investments Chairman Michael Steinhardt told CNBC Tuesday. “It is remarkable that he continues to… Continue reading Is Warren Buffett A Con Man?
Last week we hosted a conference call titled “Systemically Significant Positions.” The transcript is now available here: Systemically Significant Positions Audio Link of Conference Call Webcast Handout A transcript of the March 31, 2011 conference call.
Comment Yesterday Jim Bianco was on CNBC talking about QE3 and markets. To view the interview click on the picture below. To view any of our recent interviews click here.
The Wall Street Journal – Investors Look for Clues in Fed Orations This year may turn out to be one with a whole lot of talk and a lot less action from the Federal Reserve. Fed officials have been an unusually vocal bunch lately, and that is set to continue this week. On Tuesday alone,… Continue reading The Possibility Of QE3
<Click on picture for larger image> The New York Times – No to a New Tar Sands Pipeline Later this year, the State Department will decide whether to approve construction of a 1,700-mile oil pipeline from Canada to the Texas Gulf Coast called Keystone XL. The underground 36-inch pipeline, built by TransCanada, would link the… Continue reading Will U.S. Policy Stop Canadian And North Dakotan Production Cold?
<Click on chart for larger image> The Wall Street Journal – Bank of Japan Considers Post-Quake Lending Program The Bank of Japan may implement a new bank-lending program—similar to one introduced after the 1995 Kobe earthquake—at its two-day policy board meeting Wednesday and Thursday, according to a person familiar with its thinking. The program, which… Continue reading Is The BoJ About To Make Its Balance Sheet Expansion Permanent?
Bloomberg.com – Geithner Says U.S. Will Reach Debt Limit May 16; Default Is `Unthinkable’ The U.S. will reach its $14.29 trillion legal debt limit no later than May 16 unless Congress acts before then, Treasury Secretary Timothy F. Geithner said today, and he warned of “severe hardship” for Americans if lawmakers fail to act. If… Continue reading Oh No! Not The Debt Ceiling Again!
The Wall Street Journal – Apple Crunched in Nasdaq Rebalance Nasdaq is taking a bite out of Apple. In a move likely to ripple across the stock market, Nasdaq OMX plans to announce Tuesday a rare rebalancing of its Nasdaq-100 index, which will reduce the big weighting of Apple Inc. The company currently makes up… Continue reading Nasdaq’s Rebalancing Act
<Click on chart for larger image> The Wall Street Journal – Moody’s Downgrades Portugal Moody’s Investors Service Inc. on Tuesday cut Portugal’s long-term government-bond rating even closer to junk grade and placed it on review for possible downgrade, citing heightened risks that the authorities will be unable to meet their ambitious deficit reduction targets. The… Continue reading Portugal
The Financial Times – Lex: Equities and inflation: investor victims Inflation has many ills. Among them is accounting confusion. Reported results resemble an old picture: they flatter to deceive. The victims are investors who think that equities are an inflation hedge simply because nominal earnings – and dividends – go up faster when inflation is… Continue reading Inflation & Equities