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  • Averages cap dismal week with more losses as economic concerns grow [View news story]
    Anyone notice how credit spreads are blowing out (CCC credits) and the yield curve is flattening? Uh oh.
    Jul 24, 2015. 08:25 PM | Likes Like |Link to Comment
  • Accidentally released Fed staff projections have dovish tilt [View news story]
    Sid Richdale, we are doing this to ourselves because our economists refuse to adjust their worldviews in light of actual data from the U.S. and Japan...

    In the short term, low interest rates have a stimulative effect. Over the long term, low interest rates kill growth. This is because people need to save more to retire and businesses borrow to buy back stock instead of investing for growth.

    We are the architects of our own misery.
    Jul 24, 2015. 01:08 PM | 11 Likes Like |Link to Comment
  • Q2 2015 Takeaway: Blackstone Group's Distribution May Peak In 2015 Or 2016 [View article]
    Wow - the author's points seem fairly non-controversial to me and am surprised by the tone of the responses. You almost have to think of BX like a wine-maker or a timber company - they are enjoying the benefits of several years of bumper crops right now - some of it is due to cultivating skill, but a lot of it has to do with very good weather - which they don't control.

    What they can control is growing AUM and managing assets, which drives long-term value. But it can get bumpy in the interim if the weather is bad. If distributable cash flow collapses, the stock will go down and will present another wonderful buying opportunity like we saw a few years ago.
    Jul 21, 2015. 12:52 PM | 1 Like Like |Link to Comment
  • Fifth Street Finance gets cut in management fees [View news story]
    Interesting that it is a waiver and not a restructuring of the investment management agreement. Also, given the dismal performance of FSC, they really haven't earned a single penny of the fees they have already earned. It's a crime that they continue to suck out tens of millions of dollars per year - mostly going to Len Tannenbaum - after destroying so much value.
    Jul 14, 2015. 08:38 AM | 8 Likes Like |Link to Comment
  • Stocks stage turnaround as the French and U.S. speak up [View news story]
    What if Greece's exit leads to the unraveling of the EU and 10 years of this nonsense (next will be Portugal crisis, then the Spain crisis, then the Italy crisis)? As to the Greeks being lazy... agreed, to some extent... but shouldn't the idiots who lent them money up to 200% of GDP be held responsible for their idiocy as well? On the Eurocrat side, I just see a lot of folks trying to rescue a bad investment by strangling Greece.

    Just playing Devil's advocate in response to a lot of the comments I have seen. Too often, I see things that are repeated enough on the internet taken for granted as being true. I suppose actually thinking critically leaves less time for Kandy Krush and posting selfies...
    Jul 7, 2015. 04:36 PM | 10 Likes Like |Link to Comment
  • China calms stock market storm [View news story]
    I guess this is the start of their bubble economy... machination after machination to prop up markets and keep the good times rolling. We know how it ends... rates at zero and a moribund economy... or worse.
    Jun 30, 2015. 07:29 AM | 3 Likes Like |Link to Comment
  • Greece threatens to sue Europe [View news story]
    Dunnhaupt... It's the fear of cascading bank failures and debt defaults worldwide... Originating in Greece and from things that use Greek debt as collateral. This could cause people to sell assets not related to Greece to meet margin calls and... KABOOM. Don't know if it will happen (don't think so)... but we don't know that it won't, and that's what caused the pullback.
    Jun 29, 2015. 04:11 PM | 9 Likes Like |Link to Comment
  • Futures drop as Greek crisis worsens [View news story]
    Spekny - Kansas' unemployment rate is 4.4%, California and Illinois are both over 6%. Kansas only reduced the income tax rate to 4.9% from 6.45%, which doesn't even compensate top earners for the Obama tax increases. I am always confused why people seem to think, given the small magnitude of the changes, that unless Kansas outpaces the national average by 2% in GDP growth Brownback's tax cuts are a failure. This is unreasonable.

    I wish we would stop politicizing all this stuff and look at the real data - which shows that social welfare states sacrifice growth and overall prosperity for greater equality. I cannot say which choice is better.
    Jun 29, 2015. 09:14 AM | 5 Likes Like |Link to Comment
  • Hilsenrath: June rate hike probably off the table [View news story]
    Rate hikes
    Apr 17, 2015. 12:57 PM | Likes Like |Link to Comment
  • Hilsenrath: June rate hike probably off the table [View news story]
    Rate are a year away, and they always will be.
    Apr 17, 2015. 12:57 PM | 6 Likes Like |Link to Comment
  • Lockhart: Fed should delay rate hike [View news story]
    "Before actually raising rates, I would like to see a golf-ball-sized meteorite land in the 18th hole at the U.S. Open at the exact time that Tiger Woods hits a hole in one," says Janet Yellen.

    "But the 18th hole at Chambers Bay is a par 5," says another FOMC member.

    Apr 16, 2015. 03:51 PM | 1 Like Like |Link to Comment
  • Monetary policy around the world [View news story]
    This would make for a wonderful Greek play... the irony of the entire world dooming itself to Japan'e fate through its own actions - drowning itself in debt and starving savers of returns, which means they have to save more and spend less. I would say it is a comedy of the effects on all of us weren't so real - the missed growth will compound over our lifetimes - I'm not sure an enjoyable or even comfortable retirement will be possible for many in this environment. Sad.
    Mar 17, 2015. 09:30 AM | Likes Like |Link to Comment
  • Capstead Mortgage declares $0.31 dividend [View news story]
    Flat yield curve = rampant destruction. Inverted yield curve = death. Only invest in CMO if you think the yield curve will remain positively sloping.
    Mar 15, 2015. 09:31 AM | Likes Like |Link to Comment
  • Bill Gross: Going To The Dogs [View article]
    I've been saying this for a while (that low rates distort economic decisions in unfavorable ways for long-term growth - and lead to economic vulnerability through over leveraging). Investors have been using leverage to squeeze the returns they used to get without leverage out of their money. My academic friends who fetishize central bankers have called me crazy and unenlightened. Now, Bill Gross seems to have gone the same way.
    Mar 15, 2015. 09:26 AM | 5 Likes Like |Link to Comment
  • Bove: Banks "basically nationalized" [View news story]
    Agreed, Larry. In fact, investors punish banks whose roes are lower because they don't take enough risk. That has always been the case.
    Mar 12, 2015. 08:32 AM | 1 Like Like |Link to Comment