Today’s most shared: Jobs report beats expectations: redefining ‘rosy’ downward… Labor force leavers, loss of experience and human capital take long-term toll on potential growth… Food stamps cut, but on the plus side subprime auto loans are available… Twitter IPO … Read more
Leave a CommentToday’s most shared: Triumph of the doves: reaction to ECB’s surprise rate cut… Triumph of the nerds: Twitter goes public… Wall Street bonuses predicted to rise, except for sell-side bond traders… NYC Police Commissioner to stop and frisk bankers at … Read more
Leave a CommentToday’s most shared: MF Global customers made whole, 2 years later… Another day, another claim of benchmark-rigging, this time it’s Brent crude… Wealth tax proposals gain currency… Will Fed taper, but lengthen low-rate guidance, lower unemployment threshold? … Elite MBAs … Read more
Leave a CommentThis chart scares people. Many of our clients and investment contacts are frustrated by lack of obvious alpha in the market and the industrial sector. The US stock market is above pre–Great Recession peak, and earnings have recovered — but … Read more
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Investment professionals and seasoned investors prize numbers that include repetitive patterns. With these abstractions of reality we can build nice neat statistical formulas that give us a good chance to be correct most of the time. The problem with that … Read more
Leave a CommentToday’s most shared: Did Steve Cohen buy off the Feds? … Financial mistakes women make… Fed economists suggest new Evans rule target of 6% unemployment… New bank rules may pressure Italian deficit sustainability… Bill Gross loses largest fund title to … Read more
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This is a bull case for the equity in a subprime lender formerly owned by AIG. David contends the company may be in for a bright future due a confluence of factors that would have seemed unlikely just a few months ago, including the return of the asset-backed securities (ABS) market and the credit quality of subprime borrowers. As you read, imagine how you would have reacted to these same words written just a few years ago. Read more
1 CommentToday’s most shared: Howard Marks likes China… JPMorgan was supposed to be above the crowd, but is Jamie Dimon now the Lance Armstrong of Wall Street? … US government investment in infrastructure falls … How healthcare web site stumbled… Theory … Read more
Leave a CommentEverybody has heard the stories of the blowup of super hedge fund LTCM in the late 1990s, but as far as I know, no one has ever talked publicly about what it was like inside the fund as it was … Read more
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