China’s still at it. Attempting to suck up every ounce of crude oil on a global basis, they are not unlike the Daniel Plainview character from There Will Be Blood, an oil magnate to whom you either leased your land or you watched as he drained the oil from it horizontally, right out from under…
China
Happy Birthday To Our Future Chinese Overlords
60 years since the founding of the Peoples Republic of China. These days, their “communism” is looking a lot more capitalist than whatever the hell it is we’re doing over here. Source: Economist.com
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…
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? …
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: Dentists, Wheat Crops & the E*Trade Baby
Stuff I’m Reading this Morning… World Index down 1.5% as of mid-day trading in London…does the pullback start today? (Bloomberg) Dentists feeling the pain of recession as people stop taking care of their teeth. (Knowledge@Wharton) Stepchild E*Trade being used as fodder for Citadel‘s high frequency trading ops, Ken Griffin adopting that cute baby from the…
Droppin' Knowledge: Matt Horween Unleashed
You guys know how much I love righteous indignation as a writing style. Matt Horween of TheStreet.com is ladling it out thick for anyone with a bowl in his six part op-ed that will run every day this week, enitled Fix America Now. Yesterday’s opener was crackling with skepticism over our military expenses in the…
Hot Links: Nat Gas, Mark Mobius & the NY Yankees
Stuff I’m Reading this Morning… Greenback’d posted the July mega-list of activist investor situations. Awesome. (Greenback’d) Piker gamblers hurting the casino business. (WSJ) Taobao.com is a monster of e-commerce in China. (NYT) Community newspapers doing ok, small is beautiful. (AP via YahooFinance) The 3 stages of a bear market illustrated. (InvestmentPostcards) My boy Todd Sullivan…
Hot Links: The Pentatonic Scale
[vodpod id=Groupvideo.3090598&w=425&h=350&fv=] Hot Links for Weekend Reading… Jefferson County, Alabama: the brokest county in all the land. (NYT) Barry Ritholtz does a killer guest post for Prieur‘s site discussing the analysts. (Investment Postcards) China’s governments create a bottom in commercial real estate by intervention. (FT) Speaking of China, Karabell looks at why their stimulus is…
