This kind of totally goofy market action is happening too often and too much. From Zero hedge: The kneejerk reaction to the completely unsurprising FOMC statement was down… Which is why the corresponding 12 handle move up in the ES is perfectly understandable… as long as one understands that our market is totally broken. 12 […]
Hugh Hendry is a hedge fund manager from UK. He is one of those “evil short-sellers” that the establishment (read politicians and the banks) love to hate. However, but for the short-sellers, the truth would not have come out in this increasingly manipulated and intervened market. Hendry was among the few who saw problems in […]
I mentioned about Mr. Rao on this blog some time ago when I talked about quants. I caught-up with Rao to make sense out of the Euro crisis. Even though Rao is retired and claims that he is not in touch with what is going on in the markets lately, he is as sharp as ever. This 40 min long interview sheds light on a number of fundamental reasons for current state of world’s financial mess. Those who followed me on my Teluguone Radio show or read my articles on various blogs might find that my views are eerily similar to his views.
Podcast: Play in new window | Download (9.2MB) | Embed
Subscribe: RSS
Mr. Rao Chalasani was a veteran Wall Street economist who retired in 2000. His long career included stints as the chief economist at Everen Securities which later became First Union Securities. Currently FUS is a unit of Wells Fargo. In the 90s he was frequently quoted in the Wall Street Journal. He was one of the straight shooters on Wall Street and one of the few whom I respected and I paid a lot of attention.
Podcast: Play in new window | Download (7.7MB) | Embed
Subscribe: RSS
The Senate just passed a stupid bill and called it financial reform. [via CBS Marketwatch] The mammoth legislative package — which passed 59 to 39, with three Republicans voting for the bill — requires “too-big-to-fail” banks to install new capital restrictions and divest their derivatives units, sets up a government board to assign credit raters […]
Today (May 20, 2010) on Wall Street The pounding continues in Asia (9:08 PM, May 20, 2010) What is going on? Sovereign debt crisis, leading to disintegrating Euro, leading to major currency crisis. More on this on Friday, May 21st MMGL.
Says who? James Galbraith, son of legendary James Galbraith. Well, this is a late realization for my fellow academic. For at least 14 years I have been saying, “Real world is a special case for the economists.” Here is an insightful testimony to be given to Congress by Galbraith: (via Alternet) Why the ‘Experts’ Failed […]
Here is the video that Mohan garu mentioned on MMGL
By now you probably heard about zero-loss trading days for four major banks. If this is not a rigged market, what is? Jon Stewart explains it all! The Daily Show With Jon Stewart Mon – Thurs 11p / 10c Hoarders www.thedailyshow.com Daily Show Full Episodes Political Humor Tea Party
I am not a stock market “guru.” Nor am I guru wannabe. On April 26th, pretty much to the day on which stock market set a nearly 20 month high, I gave my outlook on markets. Current Market Outlook As of today’s data, I believe that the world stock markets are heading towards a steep […]
Wells Notice is issued to warn companies of potential criminal investigation. If a company receives Wells Notice, the event itself is deemed a news of material consequence on a firm’s business. All news of material consequence must be filed with SEC. Goldman received its Wells Notice in September 2009 and never filed with SEC about […]
Dylan Ratigan explains why ‘Fat Finger’ excuse for mid-day 1000 pt drop is bogus – in plain English. Dylan has a way with metaphors and words. He coined the following memorable lines in this segment. Quite simply, there is very little capital in our ‘capitalism.’ If a market based on actual value, real accounting standards, […]
I am sure you heard about this intraday crash already. At one point today DOW dropped nearly 1000 points. A typo may have triggered it and high frequency trading may have accelerated it. But… Watch the backdrop for this steep drop.. Plunging Euro… Sovereign debt problems at STUPID countries (ex Greece – thanks to Zero […]
The head of the Squid says, “We share some burden.”
