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HomeThe Classic Wisdom of Ray Dalio
Posted by Larry Doyle on May 29th, 2012 5:22 AM |
I somehow overlooked a recent interview in Barron’s with Bridgewater’s Ray Dalio. Having sung his praises more than a few times over the last few years (link here), Dalio once again does not disappoint.
Can a deleveraging process be “beautiful?” Are there strong comparisons between Europe today and the birth of our democracy back in the late 1700’s? What lies ahead for world economies? Might we see more quantitative easing? How long might all this last?
Folks, this interview is a little lengthy but Dalio touches all the bases. If you have any interest whatosever in our global economy and markets, then find the few minutes to absorb the wisdom of Ray Dalio. This “classic sense on cents” is a MUST read . . . (more…)
Memorial Day 2012: Let Us Remember…
Posted by Larry Doyle on May 27th, 2012 11:32 AM |
Is there anybody amongst us who does not believe we live in the greatest nation in the world?
Our nations’ greatness is a product of our freedoms. Let us never take gratuitous liberties with our freedoms. Nor should we ever think that freedom is our God given right as American citizens.
So many of our fellow citizens have made and are making the ultimate sacrifice so we may be free.
I salute the veterans who have made this sacrifice and the current members of our armed forces who put themselves in harm’s way so we here at home may have the freedom to pursue our dreams.
On this note, let us ALWAYS remember… (more…)
Romney is Right on Education
Posted by Larry Doyle on May 25th, 2012 3:01 AM |
Regular readers of this blog know how passionate I am about quality secondary education.
I detest those in our educational system who practice an agenda that does not put the interests of our children first, second, last, and always. Regrettably, results all too often show that our children suffer at the hands of pathetic people and process.
Call me harsh. I do not much care. Secondary education is clearly one of the most important issues in our nation, and it is all about one group and none other — our children. Or at least it should be. (more…)
Facebook, Morgan Stanley, and “Dumb Money”
Posted by Larry Doyle on May 24th, 2012 4:01 AM |
For an industry that has ongoing and enormous reputational issues, the manner in which the high profile Facebook underwriting was handled is a clear indication that Wall Street has learned very little over the last few years.
Those in the industry can point to the fact that selective disclosures during an IPO process are not illegal. That is a pathetic statement, but one which far too many will utilize to justify — or I should say, rationalize — horrendous business decisions. The WSJ alludes to this reality in writing, Some Big Firms Got Facebook Warning:
It is one of Wall Street’s best-kept secrets: Securities firms are allowed to selectively confer with favored large investing clients about crucial information as they prepare IPOs. (more…)
Jon Corzine and MF Global: “The System Failed Us”
Posted by Larry Doyle on May 23rd, 2012 6:08 AM |
Almost eight months and still the customers of MF Global both here in America and overseas wait for restitution of their funds . . . and the American public waits for justice.
But this story is passe and it is time to turn the page, correct? On to the 2012 campaign. The war on women. The debate over private equity. Who’s married to whom? Folks, those topics may be worthy of debate, BUT they are sideshows as the theft and destruction of our trust, integrity, and confidence continues. (more…)
A Hole in the Facebook Business Model?
Posted by Larry Doyle on May 22nd, 2012 2:10 PM |
Facebook is getting a LOT of attention. As well it should.
An IPO that is down 17% in the first three days of trading will generate a lot of focus.
Everybody loves Facebook. Reconnecting with old friends. Making new friends. The world has gotten very small and very fast with new modern technologies. Which of these capabilities has been more impactful than Facebook? All this said, questions abound about Facebook, including: (more…)
What Will Happen in Greece, Spain, and the EU?
Posted by Larry Doyle on May 22nd, 2012 5:47 AM |
I love listening to and reading the thoughts of well informed financial pros.
All eyes and ears are justifiably tuned in to developments in Greece, Spain, and throughout the EU. Will Greece leave the EU and precipitate runs on the bank in other European nations? Let’s navigate and get the insights from industry insider, Michael Platt of Bluecrest Capital Management.
Platt has received significant attention in the marketplace recently as one of the traders on the other side of JP Morgan’s losing credit bet. Having ‘harpooned’ JP Morgan’s London whale, Platt offers a wealth of valued perspectives on developments in Europe and on the situation at JP Morgan. He was interviewed recently on Bloomberg. (more…)
JP Morgan’s Irv Goldman Thrown “Under the Bus”
Posted by Larry Doyle on May 21st, 2012 7:42 AM |
I first heard the phrase “he got thrown under the bus” when working at Union Bank of Switzerland in 1997.
Perhaps I was not listening carefully enough earlier in my career to detect just how management on Wall Street conveniently finds scapegoats during challenging times. I hated that phrase then and throughout my time on Wall Street. Why? (more…)
Student Loan Crisis: Why So Many Colleges May Fail?
Posted by Larry Doyle on May 19th, 2012 7:21 AM |
“We know the model is not sustainable,” said Lawrence T. Lesick, vice president for enrollment management at Ohio Northern University. “Schools are going to have to show the value proposition. Those that don’t aren’t going to be around.”
(The New York Times; May 14, 2012)
Very few topics have received as much attention here at Sense on Cents as the student loan crisis.
In my opinion, the size, scope, and impact of this problem is an enormous anchor weighing down our next generation and our nation’s economy.
Make no mistake, this anchor is not only impacting thousands of students and families but is also having an equally burdensome impact on colleges and universities nationwide.
I choose my words carefully here. The other day I entitled my commentary, Student Debt Bubble: Impending Doom for Colleges.
Doom is a strong word. Why did I choose it? Let’s navigate. (more…)
JP Morgan and Jamie Dimon: A Question of Trust
Posted by Larry Doyle on May 18th, 2012 7:33 AM |
Do you engage in business with people you don’t trust?
Sometimes you may have no choice, but in doing so you likely keep your guard up or exact a higher risk premium.
For those with a choice, keeping one’s distance from those you do not fully trust is typically the preferred path. For those without a choice, a lack of trust is often offset with a lot of hope and prayers. Hope always remains a lousy hedge against a lack of trust. We see this at play currently on both sides of the pond. (more…)
