Stuff I’m Reading this Morning… Ending second worst decade for US stocks in history, The Dow has lost 9.2% over the last 10 years. (Bespoke) No stranger to scandal himself, Larry Kudlow has some advice for Tiger Woods. (CNBC) BlackRock passes $3.2 trillion in assets, CEO Larry Fink is the new King of Wall Street. …
JPMorgan
Market Rallies Without the Banks
Did you happen to notice that today’s triple digit rally happened without the banks? JPMorgan cut estimates on its peers in financialville and no one seemed to care. Here’s what some of the Money Center banks did on the day: Laggards in Price Performance (Intraday) SUNTRUST BANKS [sti] -1.82% T C F FINANCIAL CORP [tcb]…
Hot Links: Dobbs, Rogers, Dimon & The Cloud
Stuff I’m Reading this Morning… Post of the Day: Is everyone investing by the seat of their pants? (AbnormalReturns) JPMorgan’s Dimon is “helping shape” what the new bank regulation will look like. (Forbes) Unfortunately for Dimon, the big banks are probably f@cked if Rep Kanjorski has his way. (Bloomberg) Paul Krugman bashes Fox Business. Can’t…
Dimon Loves Retail Stockbrokers
I caught this in the New York Post this morning, thought it was pretty cool: “I love the retail broker business because my dad is a broker and my grandfather was a broker and it was the first job I ever had,” Jamie Dimon, 53, said at a Securities Industry and Financial Markets Association meeting…
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…
The Incredible Shrinking Finance Sector
This is very cool. The New York Times put up a moving infographic that shows the progression of the 29 largest financial firms and how they first shrank since 2007 and then began to grow again. The graph above shows them from the starting point at the market’s peak in October 2007. The one below…
Coming Soon To Institutional Sales/Trading: Discount Brokerage
You knew it was coming sooner or later. I guess it’s coming sooner. From TheStreet.com: Goldman Sachs (GS) and other big securities dealers made bundles of money last quarter because they faced fewer competitors, but now BlackRock(BLK) is hoping to change that. BlackRock, soon to be the world’s largest money manager, is working on a…
Tomorrow's Business Headlines?
I’m not saying these hypothetical headlines are likely, but I also wouldn’t fall out of my chair if one of ’em popped up in some variation or another. “JPMorgan’s Dimon Jealous Of AIG And Citi, Wants Back In To The TARP” “Four Hundred Percent Of All Homeowners Underwater On Two Hundred Fifty Percent Of Their…
Breakfast Links: Post-Apocalyptic Disney
Stuff I’m Reading this Morning… JPMorgan almost bought Morgan Stanley at Paulson‘s request during the crisis. (DealBook) SIA: 2nd quarter chip sales up 17% sequentially, 4 months of gains in a row. (WSJ) Commercial RE loans blowing up faster than you thought. (Clusterstock) Nouriel Roubini goes bullish on commodities. (ResearchReloaded) A Swissman (is that a…
Breakfast Links: CIT, Jimmy Carter & The Grapes of Wrath
Stuff I’m Reading this Morning… The exact date that the Chinese stock market will collapse. (MoneyScience) Stick a fork in CIT Group, 1908-2009. (Bloomberg) They caught the runaway Credit Sueeeeesse broker, and no, he wasn’t at Le Cirque. (NYT) Virginia is for Usury. (LOLFed) JPMorgan smokes their numbers, 28 cents vs 4 cents expected…get ’em…
