This is the way it's going to be for awhile it seems--just when you think everything is okay another problem will surface. Italy is still in focus but the bloom is off the rose as reality returns. Italy's new leader Mario Monti is trying to put together a government and deal with what will be unpopular austerity. (You probably didn't know Monti is or was an advisor to Goldman Sachs. Those guys are everywhere it seems.) Anyway, Italian bond yields climbed back toward 7% Monday. Credit Default Spreads continued to widen in the euro zone as institutional investors seek insurance from others. And, those issuing the insurance may not be good for the money should it be demanded.
The ubiquitous Warren Buffett was making the media rounds today commenting on everything from his new stake in IBM and Intel ("no, they're not tech companies"), prognosticating on the Republican nominee (Romney) and touting all his investments like Bank of America (NYSE:BAC). Elsewhere hedge fund wunderkind David Tepper ("bad news is good, good news is better" fame) sold all his BAC stock as well as Yahoo (NASDAQ:YHOO). Tepper had said he wasn't buying any stocks until the euro zone was "fixed" so perhaps he jumped the gun. Tepper also appears to have a large stake in MF Global....READ MORE
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