Yesterday the price of natural gas dipped under $3 per thousand cubic feet, the lowest level for the commodity in 7 years. With spot crude roughly 100% higher than it’s ’09 low and in an environment where virtually every agricultural, industrial and precious commodity is showing gains for the year, nat gas stands alone as a major…
August 2009
Hot Links: Roubini Backlash & The Battle of the Books
Stuff I’m Reading this Morning… Is the Nouriel Roubini Backlash underway? If so, then Damien Hoffman has just fired the opening salvo. (WSCheatSheet) The battle of the books: Google blocked by Yahoo, Amazon and Microsoft consortium. (DealBook) Rolfe takes issue with the Buffett op-ed from this week. (Reuters) Goldman Sachs getting serious about it’s image,…
Where Does the Money Go for US Consumers?
Click Image to Embiggen Source: How the Average US Consumer Spends (VisualEconomics)
China Pulls Out All the Props
In the face of the possible Panda Bear Market we discussed here yesterday, it seems that the guys who pull the levers in China have opted to prop up stocks rather than let nature take it’s course. According to Reuters, they have three viable options to consider as the central bank tightens rates: Halt New…
Hot Links: Public Service Announcements
[vodpod id=Groupvideo.3238249&w=425&h=350&fv=%26rel%3D0%26border%3D0%26] Stuff I’m Reading this Morning… Big rally in China last night, in the face of the possible Panda Bear market. (MarketWatch) Money market funds are overdue for “drastic surgery”. (Bloomberg) IRS Commissioner Doug Shulman on the offshore account crackdown. (FoxBiz) What are the ten best-selling cars in the Cash 4 Clunkers program? …
5 Midget Banks I'm Watching
With the breathtaking run-up in larger banks like Wells Fargo and Bank of America, many traders are now looking at the smaller, lower quality names in the banking sector for back-from-the-dead survival plays. Above is a quick comparison I’ve put together of some of the second/ third tier banks, the ones with more regional exposure…
Enter the Panda Bear: Chinese Stocks Down 20%
The Chinese stock market, as represented by the Shanghai Composite, has doubled from it’s low this year and then peaked out in mid-July. Since it’s high last month, it has given back about 20%, which is the standard measurement of what constitutes a Bear Market. I am coining the phrase Panda Bear Market to describe this…
Hot Links: Buffett & The Bikers
Stuff I’m Reading this Morning… Whistleblower Harry Markopolos says Credit Default Swap fraud will top the Madoff ponzi. (Clusterstock) Warren Buffett‘s latest op-ed just went up, it’s called The Greenback Effect. (NYT) Don’t look up, private equity firms are about to drop some REIT IPO’s on us. Sold to you. (DealBook) Chinese pig farmers speculating…
Pick Your Favorite Recovery Shape!
Cindy Perman of CNBC’s Pony Blog has a great post up today that asks what shape the economic recovery may take. The choices range from the typical U, V, and W-shaped recoveries to some more, umm, unconventional ideas, like the lighning bolt, bath tub, square root or my personal contribution to the piece, the fabled Mickey Mouse-shaped recovery….
For New Yorkers, Neighborhoods Are Worth Protecting
I’m not normally a fan of any doctrine or restriction that stifles competition. I’m also not an ideologue and I am not interested in watching the world burn in the name of unfettered free markets. I think there’s nothing wrong with striving for some sort of balance in business for the benefit of everyone, even…
