Practical analysis for investment professionals

credit defalut swaps

Weekend Reads for Investors: Ransom, Sabotage, and Monsters Edition

Over the last month, I have read two absolutely fascinating pieces that each cover very unique territory. First comes the utterly modern story of Greek banks being held for ransom by hackers demanding payment in bitcoin! No less fascinating is a piece about behaviors that unintentionally sabotage your organization.

Turning Points: Taper Strikes Emerging Markets

The Fed continues with its second "installment" of the taper, reducing monetary easing from a total of $85 billion per month two months ago, to a "mere" $65 billion per month in February of 2014. This is the taper heard round the world.

Irrational Exhuberance Redux? Greenspan Says Stocks Are Cheap

Critics of former U.S. Federal Reserve Chairman Alan Greenspan’s tenure at the Fed — there’s no shortage — may well consider his bullish call on stocks a contrary indicator.

JPMorgan Chase and the London Whale: Understanding the Hedge That Wasn’t

How exactly does one "hedge" a book of commercial loans — JPMorgan’s traditional banking business — by writing protection on other companies’ paper, thereby gaining loss exposure to these other loans? Here's why calling the trades complex, poorly monitored, and poorly understood is an understatement.

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