Global Market Comments for September 23, 20081) Yesterday was a real 'Sell the US' day. Stocks, bonds, and the dollar all fell big, a very rare occurrence. It shows you that foreigners were making large scale withdrawals of capital from the US, not wanting to get caught up in the Fall of the Roman Empire.
Global Market Comments for September 22, 20081) Prices on 30 year T-bonds have plunged an unprecedented 8 points in two days, taking the yield up from 3.90% to 4.6%. Please see my comment last Thursday that bonds were a screaming short at 124. With all of the bail outs, the national debt has effectively risen
Global Market Comments for September 22, 20081) Prices on 30 year T-bonds have plunged an unprecedented 8 points in two days, taking the yield up from 3.90% to 4.6%. Please see my comment last Thursday that bonds were a screaming short at 124. With all of the bail outs, the national debt has effectively risen
Global Market Comments for September 19, 20081) The Treasury announced a blockbuster rescue package which has triggered a global buying panic, but without the details. It is creating an RTC type entity which will buy distressed assets from the banks. Short selling has been banned in 799 financial stocks. Restrictions have been lifted on company
Global Market Comments for September 19, 20081) The Treasury announced a blockbuster rescue package which has triggered a global buying panic, but without the details. It is creating an RTC type entity which will buy distressed assets from the banks. Short selling has been banned in 799 financial stocks. Restrictions have been lifted on company
Global Market Comments for September 18, 20081) Now is the best time ever to start a hedge fund. It is like going into the insurance business the day after the 100 year flood. All of the model busting worst case scenarios have happened. Dow up 450 on RTC type bail out rumor.2) The global liquidity
Global Market Comments for September 18, 20081) Now is the best time ever to start a hedge fund. It is like going into the insurance business the day after the 100 year flood. All of the model busting worst case scenarios have happened. Dow up 450 on RTC type bail out rumor.2) The global liquidity
Global Market Comments for September 17, 2008Note: If world ends, there will be no comment for September 18. 1) The government nationalized AIG, taking 79.9% of the stock in exchange for an $85 billion bridge loan. The trillion dollar company provides 18% of the life insurance in the US. This is a steal for the
Global Market Comments for September 17, 2008Note: If world ends, there will be no comment for September 18. 1) The government nationalized AIG, taking 79.9% of the stock in exchange for an $85 billion bridge loan. The trillion dollar company provides 18% of the life insurance in the US. This is a steal for the
Global Market Comments for September 16, 2008 1) The fallout is still reverberating from the Lehman (LEH) bankruptcy. Wells Fargo (WFC) announced it took a $109 million hit on LEH preferred. Their initial investment was certainly a lot more than that. George Soros also took a hit. Banks all over Asia announced $100 million plus