July 2013

Detroit Files for Bankruptcy

Breaking news after the close – Detroit, Michigan has filed for Chapter 9 bankruptcy. This has been a long time coming, obviously, and no amount of business-friendly initiatives or financial engineering was going to change that. But still – this is the largest municipal bankruptcy in American history. An estimated 713,000 people reside in the city…

Which Bond Kings got fixed income wrong this summer? (hint: all)

You can hardly expect a bond shop to entirely avoid a fixed income earthquake like the one we’ve just seen erupting across the curve and around the world – but given their own dire warnings about, well, everything, would it be too much to ask for them to have stepped away just a smidge? Guess…

It was all a dream, I used to read Fortune Magazine

Warren Buffett, Byron Wein up in the limousine!  Ok, sorry, I will stop that now. Sorry. Anyway, it was pointed out to me that sometime last night I broke through 50,000 followers on Twitter. When I started working on Wall Street, I never dreamed that I would one day be a financial markets commentator with…

Notes from Delivering Alpha 2013, Part IV

My coverage of CNBC and Institutional Investor Magazine’s third annual Delivering Alpha Conference will come in four parts today. Below, my notes from the two evening panels, enjoy! – JB *** Panel – Asset Bubbles, moderated by Kelly Evans • Michael Novogratz, Principal and Director, Fortress Investment Group • Michael Sacks, Chief Executive Officer, Grosvenor Capital Management • Steve Kuhn,…