Bloomberg

Dubai Default: Let's Get Ready to Crumble

UPDATE HERE: DUBAI AS COMMERCIAL RE CANARY IN THE COAL MINE Dubai’s sovereign debt is the disaster du jour, Europe already took a 3% hit yesterday while we were ODing on tryptophan and cranberry relish.  We’re looking at a down 200+ open on the Dow as of this post (8am). I’m still getting acquainted with…

3Com Insider Trading Probe In Effect

The SEC is looking into what many people are calling a blatant sign of insider info on the Hewlett-Packard for 3Com acquisition according to Bloomberg (hat tip Zero Hedge). In case you missed it: More than 8,000 3Com calls changed hands on Nov. 11, 17 times the four-week average. The most active were contracts conveying…

Q3 GDP and Jobless Claims First Look

Two big numbers out this morning, we’ll put up the initial take on both: GDP (from Bloomberg) The U.S. economy grew in the third quarter for the first time in more than a year, propelled by stimulus-driven gains in consumer spending and home building.  The world’s largest economy expanded at a 3.5 percent pace from…

More Hot Links: Andrew Hall, Modern Myths & Bank Thievery

More Hot Links for Weekend Reading… Get ’em, Howard!  Man’s attempt to teach his children to save foiled by Bank of America thievery.  (HowardLindzon) Roundup of economists’ quotes from the Buttonwood Conference.  (TBP) Michael Santoli takes on Five Modern Myths that are widely-accepted on The Street right now.  (Barrons) Yves Smith follows up on the…

Hot Links: The Ugliest Buildings in the World

Stuff I’m Reading this Morning… Market’s quiet ahead of earnings from Citigroup (pre-market) and Google (after the close).  (Reuters) Bloomberg should’ve bought a blog network instead of BusinessWeek.  (VixAndMore) Happy Dow 7537!  Ya know, in real dollar terms.  (ZeroHedge) What’s the investment climate like Down Under?  My mate Trader Mark knows.  (FundMyMutualFund) Wait til you…

Hot Links: The Egg Monster

Stuff I’m Reading this Morning… BIG STORY: JPMorgan crushes their earnings by 31 cents.  Look out!  (Bloomberg) A philosophical take on whether or not banks are good for society.  (NakedCapitalism) Vanguard did a study on how much bond funds could drop when interest rates get raised, the losses could be gigantic.  (SeekingAlpha) Which Wall Street…

Hot Links: Punk Animals

  Stuff I’m Reading this Morning… Ace Fidelity International fund manager sees a multi-year bull market, led by emerging stocks.  (Bloomberg)  Lenny Dykstra sold a bunch of his World Series stuff, the ’86 ring went for 56 grand.  (Dealbreaker) Twelve Juicy Buyout Candidates.  (Clusterstock) A tragedy for family-owned businesses in this recession.  (WSJ) The Fly takes…

The Sugar Trade

While everyone is reading that New York Post article about how many times a day Hank Paulson and Lloyd Blankfein call each other, the story the Post picked up on sugar trading from Bloomberg this morning was way more interesting to me. From the NYP: Sugar is the new crude oil for investment-hungry hedge funds,…