June 22, 2012 - Quote of the Day
?Banks make money on a big fat yield spread. The Fed is killing that,? said Michael Pento of Pento Portfolio Strategies.
Entries by DougD
Trade Alert Service Blasts to New All Time High
Global Trading Dispatch?s Trade Alert Service posted a new all-time high yesterday, clocking a 48% return since inception. That takes the average annualized return up to 30.3%, ranking it among the top five performing hedge funds in the world. Those happy subscribers who bought my service in early May reaped an instant 35% profit following
No Fed Action Disappoints QE Bulls
It?s always nice when intelligent people agree with you. That was my feeling after the Federal Reserve gave notice today that it was downgrading its forecast of US economic growth for 2012 from 2.6% to 2.15%. That is a major step down from the 3% and higher predictions they were hanging on to earlier. The
June 21, 2012 - Quote of the Day
?When it comes to reputational risk, the banks can?t really fall off the floor,? said Bart Naylor, a consumer advocate.
A Day in the Life of the Mad Hedge Fund Trader
Diary Entry for Monday, June 18, 2012 Dear Diary, 4:30 PM Sunday- Looks like my Monday is going to start early this week. One of my Athens readers e-mailed me that New Democracy was a slam dunk to win the election and would form a right of center, pro bailout, pro Euro (FXE) coalition government.
June 20, 2012 - Quote of the Day
?Now, you are starting to see people front run hedge fund books. People are front running John Paulson?s book. Everybody can see this. People are starting to line up the ducks and ask which hedge funds are going to have redemptions. Which position should I get in front of? Gold is a big problem in
Gold is Making a Comeback
One of my best calls of the year was to plead with readers to avoid gold like the plague, periodically dipping in on the short side only. The barbarous relic has been in a bear market since it peaked at $1,922 an ounce at the end of August last year. Gold shares have fared much
June 19, 2012 - Quote of the Day
?If past history is all there was to the game, the richest people would be librarians,? said Oracle of Omaha, Warren Buffett.
Greek Conservative Win Sends Shorts Fleeing
The victory of the centrist pro bailout New Democracy Party in the Sunday Greek elections sparked a furious rally in the overnight Asian markets, much of it driven by hedge fund short covering. The socialist, anti-bailout parties went down in flames. As I write this on Sunday night, the Dow futures are trading up 78
The New Deflation Definition
It seems that all you hear about these days is deflation. That is certainly what the bond market is telling us, with my screen blaring at me a miserable 1.58% yield for the ten year Treasury bond. But there is a new definition for this economic malady that applies to we hapless consumers. In the