Senator Chuck Schumer Opposes the "Trader Tax"

Whether we like it or not, the stock market is important to the average American, maybe moreso than ever in our nation’s history.  All Americans are de facto participants and beneficiaries of healthy markets whether directly or indirectly, as investors or corporate employees, and Senator Charles Schumer gets it.  I applaud the Senator’s opposition to the…

Secret of the Recession Ghost Fleet: 500 Empty Cargo Ships in Hiding

This is an amazing story.  There is a Ghost Fleet of empty cargo and container ships anchored off the coast of southern Malaysia.  Barely any crew, nothing to carry, nowhere to go. “The world’s ship owners and government economists would prefer you not to see this symbol of the depths of the plague still crippling…

Coming Soon To Institutional Sales/Trading: Discount Brokerage

You knew it was coming sooner or later.  I guess it’s coming sooner. From TheStreet.com: Goldman Sachs (GS) and other big securities dealers made bundles of money last quarter because they faced fewer competitors, but now BlackRock(BLK) is hoping to change that.  BlackRock, soon to be the world’s largest money manager, is working on a…

Hot Links: Godspeed Patrick Swayze

Stuff I’m Reading this Morning… A roundup of various currency ETFs and how they’ve done as the dollar dropped (and dropped).  (Bespoke) Sorkin: Obama‘s big reform speech fell on deaf ears on Wall Street yesterday.  (DealBook) Fast-Forwarding Gordon Gekko.  (NYT) They fired the Wells Fargo foreclosed mansion squatter.  I kinda liked the gal.  (Dealbreaker) A…

Citi Cuts Agriculture Chem Names

Farmer Brown here… Just a quick follow-up to my Monsanto piece from last week. We discussed the fact that analysts are getting antsy about seeing through the valley on the farm stocks.  Today, Citigroup spit the bit on two big agriculture names.  Mosaic (MOS) and Potash (POT) were both cut to hold from buy at Citi following…

Lapping the Crisis Quarter Makes For Pretty Headlines

As I’ve just thoroughly enjoyed the opening weekend games of the NFL, I thought I’d start with a football analogy to make my case. Here is a bizarre but true factoid that exemplifies the drawing of flawed conclusions based purely on logic: If the Detroit Lions win a single game in the 2009 season, their…

Hot Links: It's Official, You're All Morons

Stuff I’m Reading this Morning… Markets lower ahead of Obama‘s Wall Street dog and pony show later today.  (CNNMoney) My fave post this morning:  It’s Official, You’re All Morons. Get ’em!  (GreenFaucet) Stocks being bought and sold by top mutual fund managers.  (Morningstar) A graphic breakdown of how bad the advertising business has gotten.  (Clusterstock)…

More Hot Links: Chutzpah Alert!

More Hot Links for Weekend Reading… Chutzpah Alert! Goldman Sachs wants more taxpayer-funded police for its new HQ’s security.  (NYP) 5 Tips for Successful Trading from Bob Prechter.  (PragCap) Sad story of the Yale bride who disappeared before the wedding.  (DailyBeast) The 70 year old bank robber, armed with an oxygen tank…we’re in troubs.  (JrDepAcct)…

Menu Engineering: Hacking Human Reactions to Price

I thought this piece about determining how to set prices on GigaOM this morning was fascinating.  Wall Street is all about prices.  What is something worth now, what will it be worth in 10 seconds, 6 months or 3 years from now? There are no shortage of formulas and equations that can be used to…