Stuff I’m Reading this Morning… China Strong, Dollar Weak. Stocks Likey. Keep walking, nothing new to see here. (Bloomberg) Mish says, “Yes, it is a Depression.” (GlobalEconTrendAnalysis) The Notorious B.I.G. sees a bullish reverse head and shoulders pattern in the chart of front-month gold prices. (Bespoke) Veteran Buffett-watcher Jeff Matthews on what the Oracle’s recent…
Something to Remember on 9/11 from JFK
JFK’s quote only has it half-right on this latest anniversary of 9/11. I like the never forgetting an enemy’s name part, it’s the forgiveness thing that will never be possible for me. Sources: Cagle.com
One Year After Lehman: We Don't Love These Bros.
No one misses Lehman Brothers. Yeah, I said it. On September 15th 2008, the investment bank filed for bankruptcy after 6 months of protestations by Dick Fuld, Erin Callan and the rest of the brain trust that all was well at 745 Seventh Avenue in Times Square. Enough has and will be written about the…
Kidz Korner: Why Come Cars Don't Take Natural Gas?
Kidz Korner is a feature here on The Reformed Broker where I explain complex financial issues to kids from the neighborhood in a simple, straightforward way. __________________________________________________________ Little Timmy Johnson: My mom was cursing under her breath the other day when she was filling up her car at the gas station, why was she so…
About That Hedge Fund Renaissance You Were Told Of Yesterday
For some reason, yesterday I heard the soundbite that “Hedge funds are back! On pace to have their best month/quarter/year since blah blah blah” repeated at least a dozen times. Absurd. I can think of several high net worth people I’ve spoken with in just the last few weeks that would give up a firstborn…
Hot Links: Buffett vs HFT, Denninger vs Kneale, Iran vs Everyone
Stuff I’m Reading this Morning… Warren Buffett and Vanguard’s Jack Bogle come out against High Frequency Trading. (ZeroHedge) Consumers deleveraging big time. Not sure why this didn’t get more attention when announced yesterday, big story. (FTAlphaville) Iran is getting close to a big nuclear breakthrough…maybe Obama should have lunch with them or something, maybe a…
Ripping Off The Wealthy Chinese
This is a shockingly absurd story. Goldman, Citi and the rest of the gentlemanly, altruistic global banks invented yet another disgraceful product at or around the peak of the stock market a couple of years back and they aimed it, not unlike a loaded gun, squarely at the foreheads of wealthy Chinese businessmen. The fact that…
Hot Links: Playtime is Over
Stuff I’m Reading this Morning… Gold breaks $1000 this morning! World stocks rally overnight! (no one has a job). (Bloomberg) A Kraft-Cadbury merger could be a bonanza for lawyers and bankers working on the deal. (DealBook) Christopher Hitchens on the current state of the War on Terror. (Slate) Stop feeling sorry for yourself, Dick Fuld. …
Enjoy Your Communist Holiday, Komrades
Knights of Labor Parade Labor Day began as a celebratory parade thrown by the Knights of Labor, a socialist organization for union workers here in New York City. The Socialist Party itself already had a May Day (May 1st) tradition, and the Knights adapted it to their own purposes in the 1880’s, deciding to always…
Hot Links: Phonehenge
Hot Links for Labor Day Reading… The 8 worst mutual funds that should be dumped now. (Morningstar) John Carney on the Kudlow Report talking about the FHA’s financial condition. (Clusterstock) Speaking of the FHA, Trader Mark sees some ominous signs in the default rate of loans. (FundMyMutualFund) Did inflation help bring down the Roman Empire? …
