December 20, 2011 - Quote of the Day
?Those near 10% annualized yields in stocks and bonds are a thing of the past,? said Bill Gross, the managing direct and co-chief investment officer of the Newport Beach, CA based bond giant, PIMCO.
Entries by DougD
Kiss That Union Job Goodbye
Those of you counting on getting your old union assembly line job back in Detroit can forget it. The recent eight year forecast published by the Bureau of Labor Statistics shows that 4.19 million jobs will be gained in the US in professional and business services, followed by 4 million health care and social assistance
Why Don?t we try Chinese Style Securities Regulation?
Former stock trader, Yang Yanming, was recently executed by lethal injection for embezzling $9.52 million from Galaxy Securities during 1997 to 2003. The move was part of a broader effort by the Mandarins in Beijing to crack down on rampant corruption in the securities industry. Yanming never revealed where the money went, according to the
The Bull Market in Mustangs
The Western US has found a new wrinkle in the housing collapse, where homeowners are desperately struggling to cut living costs to meet the next doubling of their adjustable rate mortgage payments on their underwater houses. Raising horses can cost more than children, so Nevadans are turning them loose to join herds of wild mustangs,
December 19, 2011 - Quote of the Day
?It amazes me how quickly amnesia sets in,? said Stephen Crawford, former co-president of Morgan Stanley, about the willingness of hedge funds to re-leverage positions in these conditions.
A Thank You From The Mad Hedge Fund Trader.
I am calling it quits for the year. And what a year it has been. Over 26 trips and 40 speaking engagements in 20 countries, I managed to log 75,000 flight miles, a distance of roughly three times around the world. Some 250,000 frequent flier miles were posted to my various accounts. Whenever I board
Throwing in the Towel on the (TBT)
I am throwing in the towel on the (TBT) ETF, my 200% leveraged bet that Treasury bonds will fall. I am doing this partly to clear out the dogs from my portfolio so I can start the New Year with a 100% cash position. But I am also bailing because the short term fundamentals point
Where?s the Money?
That is the question that was asked repeatedly by members of congress to the former senior management of the late MF Global. The response was a few feeble shrugs and I don?t knows. CNBC has been running ridiculous contests like ?Where is John Corzine??, and ?What does John Corzine want for Christmas?? The reporting on
December 15, 2011 - Quote of the Day
?You ever wonder why fund managers can?t beat the S&P 500? It?s because they?re sheep,? said Gordon Gecko in the classic film, Wall Street.
Angela Merkel Torpedoes the Euro
The Euro hit my yearend target today after a two cent plunge sent it down to the $1.29 handle. You can thank German Chancellor, Angela Merkel, who in the strongest possible terms, said there was no way she would consent to an increase in the size of the European bailout package. It didn?t help that