More Hot Links for Weekend Reading… JPMorgan‘s head of algorithmic trading calls high frequency program trading a form of parasitic market making…omg. (ZeroHedge) Everything you ever wanted to know about Sheila Bair but forgot you cared enough to ask. (The New Yorker) David Merkel on his current asset allocation strategy and some thoughts on where…
JPMorgan
Market Recap: Build-a-Bank
[youtube=http://www.youtube.com/watch?v=egT8-06AcSY] The Reformed Broker, AKA The Pastrami King, here with today’s Market Recap… OK stocks and sectors, take one step forward if you were lookin’ good during today’s market melt-up… Not so fast, Newspapers! The 3:30 look at the Newspaper Sector: Laggards in Price Performance (Intraday) E W SCRIPPS CL A [ssp] -9.46% A.H. BELO…
Repaying TARP for a Return to Gluttony
I challenge you to find an article about the major banks wishing to repay TARP that doesn’t blatantly cite compensation as the banks primary motivation. Here’s a taste from Dealbook (NYT): Goldman Sachs, Morgan Stanley and JPMorgan Chase have said for weeks that they want to repay their share of the $700 billion government bailout…
Hot Links: Lemonade, Eschatology & The Gotti Foreclosure
Hot Links for Weekend Reading Let’s kick it off with something that’s both outrageous and smart, Johnny Debacle goes ape$hit on the business practices of a kid’s corner lemonade stand. Here’s a taste: This Lemonade Stand was founded on a promise of fresh beverages to keep you cool on a hot day. Instead, management oversees…
Where are we in the Banking Cycle?
The cross-currents that exist right now in the financials are astounding, both in their extremes and in the potential for multiple interpretations of risks/opportunities. Writing for RealMoney Silver this morning, Chris Atayan sums up where we are in the banking cycle perfectly: We are now solidly in the early stages of another financial services cycle. Financial markets…
TGIF Market Recap: Salute Your Dilution
[youtube=http://www.youtube.com/watch?v=kov83AXN1Xs] The Reformed Broker, AKA Professor Plum, here with today’s Market Recap… Today’s won’t be a legit recap as I am out of the office early today on a secret Golfing assignment. The big news today was the post-stress test avalanche of secondary offerings from the banks. Shareholders can Salute their Dilution while jamming…
Congrat's to Jamie Dimon, On Time's 100 Most Influential List
Magazine editors love making lists for the simple reason that people love buying magazines that contain lists. Everyone loves a ranking, even a nonsensical ranking, like a list of the most influential people in the world. Time Magazine put out its World’s Most Influential 100 People in 2009 list this week and as usual, the…
Market Recap: Bulls on the Loose, Google in the On Deck Circle
The Reformed Broker, AKA Phat Albert, here with today’s Market Recap… A lot of churning in the markets this morning, but the resolution was clearly to the upside. The Dow Jones Industrial Average is now at the highest point since the wheels fell off in early February. The consumer recovery plays were the winners today, with everything…
Jamie Dimon For President
Jamie Dimon doesn’t just Beat the Street, he Owns the Street. I read somewhere that 20% of the world’s money market funds were currently with JPMorgan Chase. I can’t remember where I heard it, but if that’s even close to accurate, that’s a remarkable statistic and it shows you who’s going to be the big…
Market Recap: Stocks and Lindsay Lohan on the Rebound
[vodpod id=ExternalVideo.810875&w=425&h=350&fv=key%3D0d646e2edb] The Reformed Broker, AKA Pine Cone Jones, here with today’s Market Recap… Much like Lindsay Lohan (from my hometown), who, according to the above eHarmony video, is getting back on the dating scene, stocks rebounded today from yesterday’s bout of profit-taking. The true battleground today was at 840 on the S&P, which my…
