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  • Where's the Outrage at the Banks? [View article]
    Well said. It is that scenario that prompted Matt Taibbi to describe a certain investment bank as a “great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money.”

    The description seems as relevant and accurate today as it ever did.
    Oct 25, 2009. 03:59 AM | 14 Likes Like |Link to Comment
  • Spend and Borrow: Economists Are Wrong Again [View article]
    Borrowing to consumer just brings forward economic activity. That debt has to be repaid later. Borrowing to speculate creates asset price bubbles. Only borrowing to invest in projects that can provide new streams of economic wealth and new jobs can create sustainable economic wealth. It economics 101. A basic lesson that the Fed and government seem to have forgotten.
    Nov 22, 2009. 06:47 AM | 13 Likes Like |Link to Comment
  • Friday Outlook: Commodities, Global Markets [View article]
    "As to the equity markets you’re seeing a liquidity, peer pressure and low interest rate-driven buying panic. It’s just that simple. But, somewhere down the road authorities will have to throw some cold water on this."

    Unless of course they want asset price inflation and dollar depreciation, which is a handy cure for $11 trillion of government debt.
    Oct 9, 2009. 05:37 AM | 13 Likes Like |Link to Comment
  • Friday Roundup: Reality Bites Bulls [View article]
    Jobless data was bad but an equity retreat was inevitable.

    For the first time since 1983 the S&P 500, the large capitalisation US equity index, has risen to 20% above its 200 day moving average. This event indicates that equities, irrelevant of underlying fundamentals are technically overbought in the short-term.
    Oct 3, 2009. 02:31 AM | 13 Likes Like |Link to Comment
  • Is the U.S. Dollar the Fed's Next Weapon? [View article]
    Great article. I think the USD is the only weapon.

    The US needs inflation to erode the economic value of its debt, a weaker USD to help exports and reduce the trade deficit and another 6-12 months of loose monetary policy to force the economy into positive growth.

    The USD is the only tool for this isn't it?
    Jul 20, 2009. 07:33 AM | 13 Likes Like |Link to Comment
  • Why the Dow Is Headed to 6000 [View article]
    Equity price volatility is the least of our concerns - at least in the short term. Of more concern is the rate at which the US is declining in economic strength relative to China, India, Brazil etc. Commentators were suggesting they may overtake the US in terms of GDP out in 2025-2050. We may need to bring that estimate forward. There is a big difference in the timeline when China is growing at 7.5% and the US is contracting at 2.5% (not growing at 2.5% as most of the earlier predictions estimated).

    Where's my Cantonese phrase book, errr, or is it Mandarin?

    On Jun 29 10:24 AM Mad Hedge Fund Trader wrote:

    > Pick any number. Now that we are solidly into a correction, I have
    > been flooded with requests from readers to call the next bottom in
    > the S&P 500. Well here it is. Brace yourself. Put it on a Post-it-Note
    > on your computer. It is without a doubt and unquestionably going
    > to be 880, 850, 830, 800, 750, 666, or 320. That last number works
    > out to be 90% of the book value of the S&P 500, which was the
    > low seen in the 1930s depression. Yes, that depression, not this
    > one. You are really asking me to solve a one billion variable equation,
    > because that is the number of direct and indirect participants in
    > global stock markets. If the few green shoots out there start to
    > die off, the meltdown in commercial real estate accelerates, the
    > Fed missteps by draining liquidity too soon, or there is another
    > unforeseen shock to the system, then you can go with the lower of
    > these numbers. If we are distracted by the health care debate, emerging
    > market economies continue to perk up, and this strength helps our
    > technology stocks stay alive, then sleepy narrow trading ranges will
    > dominate, and the higher support levels will hold. But no matter
    > what happens, I will be able to come back to you in three months
    > and claim that I was right.
    Jun 29, 2009. 11:08 AM | 13 Likes Like |Link to Comment
  • The Economy Can't Be That Bad if Thousands Can Pay $100 for a Ballgame [View article]
    Rather than thinking "How can people spend hundreds of dollars on a game in a recession?". Shouldn't the statement be "We go into boom and bust recessions as people with little money put hundreds of dollars on their credit cards so they can watch a game".

    Without being overtly political, isn't it just redistribution of wealth from the debt-burdened working class to a few lucky athletes lucky enough to be born with good sporting genes? Here in the UK a decent footballer gets paid more in a few days than a nurse or policeman gets paid in a year. That is confirmation, not that you need one, that western society is morally bankrupt.

    With the money the US and UK printed to save its failed banking sectors, following years of greed, we could have saved 100 million lives in third world countries from starvation, drought, famine and disease.

    Enjoy the game.
    Jun 26, 2009. 02:40 PM | 13 Likes Like |Link to Comment
  • Did Bernanke Save the World? [View article]
    If an incompetent driver knocks you over and you are injured and unconcious but that driver then has the basic decency to call an ambulance, then I guess he 'saved' you.

    But it would be better if he didn't screw up in the first place.
    Aug 24, 2009. 06:56 AM | 12 Likes Like |Link to Comment
  • Today May Be Markets' Turning Point [View article]
    "Let me quell any criticism now by saying this - I am an amateur investor"

    Logan, don't be hard on yourself, we are all still learning. I learned a lot in 2008 for sure.

    Good article.
    Aug 21, 2009. 12:19 PM | 12 Likes Like |Link to Comment
  • High Frequency Trading and Goldman Sachs: Media View [View article]
    Well done Tyler. Keep on fighting the good fight.
    Jul 26, 2009. 04:59 AM | 12 Likes Like |Link to Comment
  • Are There Any Solutions for the Grim Budget Outlook? [View article]
    The solution is:

    1. Weaker dollar - fix trade deficit.
    2. Moderate inflation - erode value of budget deficit and government debt.
    3. Credit regulation - prevent the creation of excess money supply wasted on zero real economic growth consumption and financial transactions.
    4. Replace Fed, BoE and ECB officials with a committee of SA commentators to ensure common sense is introduced on future policy decisions.
    Jun 26, 2009. 09:52 AM | 12 Likes Like |Link to Comment
  • Why Are Online Broker Accounts Growing? [View article]
    The rise in online brokerage accounts is partly attributable to consumers being fed up watching their highly paid face-to-face brokers consistently lose their money

    If you are going to lose money, you may as well do it online with less fees, and maybe even manage the stock picking yourself... and lose money.
    Jun 23, 2009. 07:29 AM | 12 Likes Like |Link to Comment
  • Is the Market Reversal Already Happening? [View article]
    The easy money has been made for sure. Anyone who went long in March has made money, obviously, but from now on we are back to 'normal' markets and only the talented traders will make money over the long run.
    Nov 22, 2009. 05:12 AM | 11 Likes Like |Link to Comment
  • Market Volume: Still an Unanswered Question [View article]
    The lower volume question is simple to answer.

    Many investors don't trust their advisers any more and won't invest. Many investors are noticeably poorer than two years ago and can't invest. Many would-be investors don't even have a job so need to run down their savings to live.

    If you consider the vast liquidity forced into markets by the Fed over the past year you would see the majority of momentum in equities has been manufactured.
    Nov 21, 2009. 09:18 AM | 11 Likes Like |Link to Comment
  • The Declining Dollar: Is There a Government Solution? [View article]
    "The Declining Dollar: Is There a Government Solution?"

    Yes, change the government.
    Oct 9, 2009. 10:42 AM | 11 Likes Like |Link to Comment