Joshua M Brown

Taibbi v Goldman Redux

“Goldman Sachs…is like a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money” Matt Taibbi, Rolling Stone Magazine Matt Taibbi is the reporter who has just exploded into the public consciousness with his brutal Goldman Sachs Controls the Universe piece in, of all places, Rolling Stone…

Breakfast Links: Facebook, GM, E*Trade and Oil Speculators

General Motors (GM) is now forced to play diplomat as the shots are no longer called from Detroit, but from China and Russia. (Bloomberg) Oooooh!  Maybe we will one day get serious about disallowing speculators from screwing with oil and gas prices!  (NYT) Tough times for angel investors, even if you were a backer of…

The Two Horsemen of the ETF Apocalypse: UMM and DMM

Allow me to introduce you to an investment product so disgracefully ridiculous that one could only assume it was launched on a dare. Very quietly, on June 30th 2009, some firm called MacroMarkets LLC (co-founded by the otherwise well-regarded Robert Shiller) launched two ETFs that purport to be able to give investors 300% of the return or it’s inverse of the…

Melt It Like Beckham: Major Changes for the Indian Gold Market

Very quietly, two developments occurred in India over the last week that could have major implications for the gold market.  Both of these developments could portend drastic changes in gold demand from a key market, just as the inflationistas believe they are at the threshold of a paradigm shift in the precious metal’s pricing. First…

Quants Get Lonely, Too…

Quants Get Lonely, Too… from the Craigslist Sydney Personals: In the Sydney area?  Single?  Geeky?  Visit this personal ad and maybe make a connection: http://www.craigslist.org/about/best/syd/1187388648.html

We Are All Michael Jackson?

Whoa Nelly! Bob Herbert just wrote quite a stretch of an op-ed during the course of which he connects enough dots to make the point that we as a nation are essentially the irresponsible, immature Michael Jackson writ large. This one’s a massive stretch and, as it appears in the New York Times, unsurprisingly uses…

Hot Links: Ritholtz v Carney, Kneale v ZeroHedge, Chinese v Amish

Hot Links for Weekend Reading… There were two big rivalries this week, so we’ll cover those first… First, Barry Ritholtz threw down the gauntlet over John Carney‘s (Clusterstock) contention that the Community Reinvestment Act (CRA) was a major contributor to the housing and credit meltdown.  Barry offered to debate for a cash prize of up…

When the Banks Bailed Out America

As a result of the 2008-2009 credit crisis, the United States government has committed over $700 billion to bail out the banks in order to stem the tide of systemic meltdown.  As the populace rages about these rescues and how the banks themselves have chosen to use these funds, it is important to remember that…

Pssst…Wanna Buy GM's Jersey Golf Course?

The General Motors Garage Sale is in full effect, with the bankrupt behemoth selling off all random and peripheral properties and businesses it’s acquired over the last 100 years. For sale currently are such thrilling items as a parking lot in Flint, Michigan and a self-polluted stretch of land bordering the St Lawrence River that…

Droppin' Knowledge: Bill Gross on the Aftermath of Engorgement

PIMCO’s Bill Gross has his July commentary up on the web and his perspective is, as always, no-nonsense and interesting.  He begins by graphically describing the circumstances that led to the obesity-related death of a baseball umpire as his set up: “Kill the umpire,” the fan cried to open the 1996 baseball season in Cincinnati, and…