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November 3, 2009
Intraday Correlation At Silliness Extreme The intraday linkages between equities, crude oil and the euro have exceeded the bounds of absurdity.
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Is The Market About To “Undo” The Federal Reserve’s...
September 24, 2009
Bloomberg.com – Vanguard to Use Floating Benchmarks Some index funds to use Barclays Capital float-adjusted bond indexes Several of Vanguard’s index funds will be switching to Barclays Capital’s float-adjusted bond indexes from the...
Mortgage Spreads
May 13, 2009
The Financial Times – Short View: Risk appetite Even though corporate credit remains expensive by historical standards from the point of view of borrowers, the market has eased enough to persuade large companies to issue debt again – plainly...
Wells Fargo Beats The Street, The World Has Changed, Or Has It?
April 9, 2009
The Wall Street Journal – Wells, Claims Data Rally Stocks Hope that the worst may be over for the beleaguered U.S. banking sector and the broader economy drove investors back into the stock market on Thursday. … Wells Fargo shares jumped...
How Distorted Is the DJIA?
January 21, 2009
Comment The Dow Jones Industrial Average (DJIA) is a price-weighted index. The divisor for the DJIA is 7.964782. This means that for every $1 a DJIA stock loses, the index loses 7.96 points, regardless of the company’s market capitalization....
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January 20, 2009
When Will The Banks Start Lending? Audio Link of Conference Call A transcript of the January 15, 2009 conference call.
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January 14, 2009
Conference Call Presentation/Charts of the Week Topics Covered This Week Include: Almost $1Trillion In Losses Banks Are Lending! Measuring Credit Creation Measuring The Size of Securitization – 1 Measuring The Size of Securitization -2 The Credit Crisis: The Largest Outlay In American History The Federal Reserve It Is All The Same Trade The Stock Market… Continue reading
Recession vs. Depression
January 7, 2009
Bloomberg.com – Caroline Baum: Herd Quits Eden for Land of Perpetual RecessionAfter a year of denying the U.S. economy was in recession, the herd has turned and is charging full speed in the opposite direction. Now there’s no chance...
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December 30, 2008
Charts of the Week Topics Covered This Week Include: Banking Losses And Capital Raised – Summary Banking Losses And Capital Raised – Detail The Credit Crisis: The Largest Outlay In American History Significant Moves Before Labor Day 2008 Significant Moves After Labor Day 2008 Known TARP Money Awarded – 1 Known TARP Money Awarded –… Continue reading Untitled
The Weekend Lehman Died
December 29, 2008
The Wall Street Journal – The Weekend That Wall Street Died Ties That Long United Strongest Firms Unraveled as Lehman Sank Toward Failure With his investment bank facing a near-certain failure, Lehman Brothers Holdings Inc.’s chief...
Meet The Sandlers
December 26, 2008
<Click on graphic for larger image> The New York Times – Once Trusted Mortgage Pioneers, Now Pariahs Herbert Sandler, the founder of the Center for Responsible Lending, is standing in his bayfront office watching a DVD that trains brokers...
Foreigners Hate Agencies
December 22, 2008
<Click on chart for larger image> The New York Times – Floyd Norris: Foreign Investors Trade Safe for Safest Over the summer, prices of agency securities fell as the financial crisis grew worse and some investors began to doubt whether...