February 24, 2012 - Quote of the Day
?We are witnessing the death of abundance and the birth of austerity for what may be a very, very long time,? said PIMCO managing director, Bill Gross, the world?s largest bond manager.
Entries by DougD
My Favorite Stock to Short
Troubled Bank of America (BAC) certainly earned its title as the premier Dog of the Dow last year. It managed an appalling 58% decline in 2011, the worst of any of the 30 Index stocks. It only managed to stay above the crucial $5 level by a hair?s breadth, below which many pension funds are
How to Avoid the Ponzi Scheme Trap
I spent a sad and depressing, but highly instructional evening with Dr. Stephen Greenspan, who had lost most of his personal fortune with Bernie Madoff. The University of Connecticut psychology professor had poured the bulk of his savings into Sandra Mansky's Tremont feeder fund; receiving convincing trade confirms and rock solid custody statements from the
February 23, 2012 - Quote of the Day
?I enjoy issuing Berkshire stock as much as I relish preparing for a colonoscopy,? said Oracle of Omaha Warren Buffet of Berkshire Hathaway (BRK/A).
China Joins the Quantitative Easing Club
The other shoe has fallen in China, with the People?s Bank of China?s move to cut bank reserve requirements by 50 basis points, the second time since November. The relaxation makes the Middle Kingdom a certified, card carrying member of the international quantitative easing club.? It also confirms the country?s time tested preference for announcing
February 22, 2012 - Quote of the Day
?The transition from a levering, asset-inflating secular economy to a post bubble delivering era may be as difficult for one to imagine as our departure into the hereafter,? said PIMCO managing director, Bill Gross, the world?s largest bond manager.
Nikkei Shows the Yen Move is Real
The Bank of Japan renewed its membership in the international quantitative easing club last week, announcing that it was substantially expanding its bond repurchases. Specifically, it will increase them from ?55 trillion to ?65 trillion, a jump equivalent to $830 billion. To understand how big this is, consider that Japan?s GDP is one third the
An Evening With General Douglas Fraser
I never cease to be amazed by the intelligence provided me by the US Defense Department, which after the CIA, has the world?s most impressive and insightful economic research team. There are few places a global strategist like myself can go to get an intelligent, thoughtful forty year views, and this is one. Of course,
February 21, 2012 - Quote of the Day
?The Fed only knows two speeds; too fast, and too slow,? said Nobel Prize winning economist Milton Friedman to me over lunch one day.
My Very Last Chance to Buy My Trade Alert Service at the Old Price
Due to a number of technical difficulties, many potential new subscribers were denied the opportunity to buy my award winning Trade Alert Service at the old price of $1,997 before the price increase. Among other things, the site crashed a few times because of the sheer volume of people attempting to sign up at once.