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.
Entries by DougD
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
June 18, 2012 - Quote of the Day
?For the last 20 days, I feel like I have played psychologist more than I have played money manager,? said financial talk show host, Kyle Harrington.
Be Careful What You Wish For
The wild whipsaw movements in the markets on Thursday reminded us once again how dependent they have become on monetary stimulus from central banks. As if we needed reminding. Almost simultaneously, officials from the US, Japan and the UK hinted at a coordinated move at this weekend?s G-20 meeting in Cabo San Lucas, Mexico. Let?s
June 15, 2012 - Quote of the Day
?This is not 2008 or 2009. People are getting overblown with this hysteria. We are only 10% off the highs and have only given back gains. It?s like your wife may have been expecting diamond earrings and now she got a blender,? said Alan Knuckman, chief trading advisor at onestopoption.com.