Monti breaks "Eurobond" news to Merkel: "Honey, we're in trouble. We need to pawn the family gold." €2.3TT #lastresort http://t.co/ctFPKRfz
Finance & Markets Channel: Latest Posts
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Dan Alpert's Two Cents
On Taking Stock with Pimm Fox Looking Under the Hood of J.P. Morgan in its Week of Embarrassment
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Finance & Markets
JP Morgan Loss Bomb Confirms That It’s Time to Kill VaR
One of the amusing bits of the hastily arranged JP Morgan conference call on its $2 billion and growing “hedge” losses and related first quarter earning release was the way the heretofore loud and proud bank was revealed to have feet of clay on the risk management front. Jamie Dimon said that the bank had [...]
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Finance & Markets
JP Morgan Debacle Reveals Fatal Flaw In Federal Reserve Thinking
Experienced Wall Street executives and traders concede, in private, that Bank of America is not well run and that Citigroup has long been a recipe for disaster. But they always insist that attempts to re-regulate Wall Street are misguided because risk-management has become more sophisticated – everyone, in this view, has become more like Jamie [...]
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Finance & Markets
Why Not to Panic About Europe
I feel no panic about Europe. This is a typical test. Every long-term investor considers the question of risk tolerance and understands that markets will fluctuate for mysterious reasons. So far, so good. Then, when the event actually happens, it is accompanied by a cacophony of fear mongers — all claiming that this is “the [...]
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Finance & Markets
Investing in a G-Zero World
The planet is ripe with investment opportunity, according to most of the speakers at an ETF conference I attended yesterday in Boston. From emerging markets to sector rotation to alternative betas, optimism abounds, attendees were told. As usual at these type of events, focusing on what could go wrong was minimized, although in fairness I [...]
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Finance & Markets
Invest in Stocks? FORGET ABOUT IT
Main street hates stocks. That is according to today’s front page of USA Today: The print edition had a center column, above the fold, screaming green headline “Invest in stocks? FORGET ABOUT IT.” That Cap and Bold headline is as it was in original. (The online version was the tamer Invest in stocks? Small players still [...]
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Finance & Markets
Frontline Takes Issue With Naked Capitalism’s Critique of Its ‘Money, Power & Wall Street’ Shows
I received this e-mail last week. I will issue my rebuttal Tuesday during the day. Check back in then! Yves: Attached please find our response to your critique of the first two hours of PBS FRONTLINE’s “Money, Power & Wall Street.” We hope you can post this, or if you prefer we can post this [...]
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Finance & Markets
Economists, Liquidity Mongers and the Banker Assault on Financial Reform
Yves here. I’m posting a Real News interview with Gerry Epstein on the same theme, that of the dubious arguments and methods bankers are putting forward to stymie reforms, at the end of this post. If you have time, I’d suggest watching that as well as reading this post, since they don’t overlap much. Otherwise, [...]
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Finance & Markets
Weighing the Week Ahead: Here Come the Candidates
In a light week for economic data, we can expect more attention to elections both in Europe and the US. Political activity provides both an opportunity and a trap for most investors. It is so easy to use our own electoral preferences in forming conclusions about economic and investment prospects. Just as Democrats did when [...]
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Finance & Markets
A New Old Explanation for Recessions & Financial Crises
Edward Conard, a retired executive of Bain Capital and a major donor to Mitt Romney’s presidential campaign, tells us that the precipitating cause of the 2008 financial crisis was a surge in demand for liquidity. He’s right, of course. The appetite for safety went into overdrive in the final months of that fateful year. This [...]
