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HomeFPA’s Bob Rodriguez Has a Message for Washington
Posted by Larry Doyle on May 17th, 2012 8:05 AM |
First Pacific Advisor’s Bob Rodriguez is a renowned money manager. I hold him in the highest regard.
The only issue I have in regard to Mr. Rodriguez is that he is not in Washington managing our nation’s fiscal policy.
The simple fact is Rodriguez knows of what he talks and relates it in language that is foreign to most politicians, that is, plain English.
With the ongoing budget fiasco, debt ceiling, and accompanying fiscal cliff on our horizon at year end, recent comments by Rodriguez should ring long, loud, and clear throughout Washington. (more…)
‘Sponsored Video: The Global Economy’
Posted by Larry Doyle on May 16th, 2012 11:46 AM |
I receive an endless number of overtures from outlets looking to have me promote their products. I have always declined. . . until now. Why? I use and live by the product in this commentary. As such, I welcome endorsing it!! LD
I start every day of the week in the same manner. How is that?
I go out my front door, pick up the newspaper and settle down to what I believe is the best periodical in the market today. Which is that?
The Financial Times, or as I and many people like to call it, the FT. (more…)
UPDATE: Naked Short Selling, “Wall St. Conspiracy?”
Posted by Larry Doyle on May 16th, 2012 4:34 AM |
How many people in America today are questioning the very integrity of our markets?
More than we can measure.
Regrettably, there has been strong evidence of practices in selected corners of Wall Street which have violated the trust of investors, betrayed any semblance of fair dealing, and destroyed the development of otherwise viable businesses and companies.
Specifically a month ago, I introduced readers to the artifice of naked short selling in promoting a documentary, “The Wall Street Conspiracy.”
Yesterday, Bloomberg dropped a bombshell on this practice in reporting . . . . . (more…)
JP Morgan’s Concentration Risk and Outsized Egos
Posted by Larry Doyle on May 15th, 2012 8:38 AM |
How does one firm “lose” $2 billion…and likely more….in the course of less than two months?
Well, it is doable if there is a massive market move. In the case of JP Morgan and the loss it announced last week, though, the markets broadly speaking had not moved that significantly. Certainly nothing like we experienced during the middle of 2011, let alone 2008. So the question begs, how does a firm lose that amount of money?
Concentration risk combined with another factor. What might that be? Let’s navigate. (more…)
Student Debt Bubble: Impending Doom for Colleges
Posted by Larry Doyle on May 14th, 2012 11:27 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)
The student loan debt bubble is beginning to get a LOT of attention. As well it should.
That attention is deserved when a level of debt surpasses $1 TRILLION. The New York Times drew further attention to this situation this weekend in an extensive and very personal commentary, A Generation Hobbled by the Soaring Cost of College.
I have tried to draw focus to the MASSIVE size of this problem and its accompanying implications over the course of the last year in writing the following: (more…)
Bloomberg Bombshells re: JP Morgan $2B Loss
Posted by Larry Doyle on May 14th, 2012 7:54 AM |
Bloomberg just reported a couple of bombshells which, when digested, strike right at the integrity and veracity of JP Morgan CEO Jamie Dimon’s comments a month ago.
What did Bloomberg report?
The JPM traders managing the risk within this portfolio were known to execute trades over the course of the last few days of the month. Why is that so interesting and important?
If the firm had such large and unwieldy positions, this end of month trading activity would likely be seen as an indication that JP Morgan was trying to influence the month end pricing valuations of the indices in question. Those pricing valuations would obviously directly correlate with reported profits and losses. (more…)
Happy Mother’s Day 2012
Posted by Larry Doyle on May 13th, 2012 6:27 AM |
There is no more important job in the world than that of being a mother.
I maintained that before I married my beloved and I know that now more than ever. Having been blessed with a great Mom, a beautiful mother-in-law, and my beloved, I extend my love to these three special ladies. I extend my admiration to mothers everywhere.
Work? Nothing comes close to the work a mother puts in to raising her family. Let us stop and give thanks to the special people we call. . . Mom!!
On that note, I send this special 4-minute clip out to my special girl and hope Moms everywhere can enjoy the following:
Rest assured, we will get back to pursuing the truth along our economic landscape tomorrow but today is a day for Mom. I hope everybody who comes here is able to do just that. On that note. . .
Navigate accordingly.
LD
$2B Loss? What Went Wrong at JP Morgan?
Posted by Larry Doyle on May 12th, 2012 7:32 AM |
What really happened at JP Morgan that a $2 billion loss could be racked up in supposedly the course of 6 weeks?
Little bit of octane in some of those positions, perhaps?
Did the brains within JP Morgan really know what they were doing? Did they make the same mistake as the brains at Long Term Capital Management in 1998? What mistake was that? (more…)
JP Morgan Whale: “Thar She Blows”
Posted by Larry Doyle on May 11th, 2012 6:02 AM |
Less than a month ago, JP Morgan released very solid 1st quarter 2012 earnings and put out the following release:
New York, April 13, 2012 – JPMorgan Chase & Co. (NYSE: JPM) today reported first-quarter 2012 net income of $5.4 billion, compared with net income of $5.6 billion in the first quarter of 2011. Earnings per share were $1.31, compared with $1.28 in the first quarter of 2011.
Jamie Dimon, Chairman and Chief Executive Officer, commented on financial results: (more…)
Racketeering Charge Against BofA and MERS
Posted by Larry Doyle on May 10th, 2012 5:32 AM |
A little over a year ago I became aware of robo-signing within the mortgage servicing industry and broached the topic that the activity likely rose to a level of racketeering. I aggressively questioned, Did Wall Street Violate the Racketeering Act?
Believing that the activity did likely rise to a level of racketeering, I recommended that attorneys general should pursue institutions involved in these fraudulent and abusive practices with a RICO action.
Well, it appears that somebody is now doing just that with specific focus on activities that transpired at Bank of America and MERS (Mortgage Electronic Registration System). (more…)
