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Healthcare “Right” Comes with Responsibility

Posted by Larry Doyle on March 24th, 2010 9:22 AM |

Do you hear that large sucking sound? Those are the engines of wealth redistribution humming in Washington.

Let’s stop the bulls&%#! President Obama’s healthcare reform, much like many of his other initiatives, is all about wealth redistribution. Whether that’s a good thing or a bad thing is a topic for another post, but that is how I see it. I said as much in January (“Healthcare Reform to Make You Ill”), and I will repeat today:

Ultimately, the reform as drafted is a massive redistribution program.

The New York Times addresses this redistribution this morning in writing, In Health Care Bill, Obama Attacks Inequality: >>> Read the rest »


Bloomberg Poll: Americans Decidedly Negative on Business and Economy

Posted by Larry Doyle on March 23rd, 2010 9:31 PM |

A Bloomberg National Poll of 1002 people over the last three days is quite revealing. (The poll has a margin of error of +/- 3.1%)

Almost across the board, those polled (who were randomly selected) are more negative than positive or even neutral on a variety of key topics. Rather than my adding editorial comments, let’s look at the data:

The Value of Your Investments
A lot better 6%
A little better 25%
Same 22%
A little worse 29%
A lot worse 17%
Not Sure 1%

The Overall U.S. Economy Read the rest »


America’s Hidden Inflation and How You’re Getting Screwed

Posted by Larry Doyle on March 23rd, 2010 1:47 PM |

Inflation is dead, right?

If we believe The Wall Street Journal, all we had to do was read yesterday’s edition to learn this fact. The WSJ wrote, Inflation is Dead? Long Live Long-Term Treasurys:

The Treasury Department is selling $118 billion in debt this week, just as Congress tackled a $940 billion health-care bill over the weekend, shining the spotlight on the U.S.’s hefty fiscal commitments.

Budget-deficit and debt levels are forecast to worsen: Total deficits including interest costs are set to remain above $1 trillion in the next decade, according to Barclays Capital. But longer-dated U.S. government debt is as popular as ever, even at the measly 3.689% and 4.580% yields that 10- and 30-year Treasurys are paying, respectively.

That popularity is supported by a single, compelling economic fact: Inflation is dead.

There you go. The WSJ said it, so it must be right. The policy wonks in Washington continually repeat it, so they must be right, too. Or are they? Read the rest »


Do You Trust Uncle Sam to Deliver on Healthcare?

Posted by Larry Doyle on March 23rd, 2010 6:11 AM |

Sifting through all of the pros and cons of healthcare reform, I strongly believe the greatest fear for the majority of Americans is that Uncle Sam will screw up the delivery of healthcare itself. Healthcare is the equivalent of the third rail for Americans. Uncle Sam can go ahead and touch almost every other aspect of our lives, but when it comes to our health and access to our physicians, now that is truly personal.

Can Uncle Sam deliver? I guess it is possible, but regrettably Americans increasingly do not trust the “old man” on this topic. Read the rest »


The BIG Hole in Financial Regulatory Reform

Posted by Larry Doyle on March 22nd, 2010 4:24 PM |

Why am I so skeptical that Senator Chris Dodd’s proposed Financial Regulatory Reform (for overachievers in the audience, the link connects to the 89-page proposal) will truly change behaviors on Wall Street? For the very simple reason that I have seen no highlighting of the Financial Industry Regulatory Authority within the proposed Financial Regulatory Reform. Strike you as a little odd? It strikes me that the Wall Street lobby is hard at work keeping its self-regulator, that being FINRA, right where they want it.

Against this backdrop, I was pleasantly surprised to see highly regarded Barron’s columnist Jim McTague reference that the proposed reform would promote transparency and accountability of FINRA. Read the rest »


Wall Street Isn’t Capitalism!!

Posted by Larry Doyle on March 22nd, 2010 1:53 PM |

Is our nation trending away from the principles of capitalism which built the foundation upon which we rest? Another healthcare whine? Nope. I am talking about the once proud pillars of capitalism centered on lower Manhattan, otherwise known as Wall Street.

Let me simplify the debate. What is capitalism? Are you willing to accept the definitions provided by my Investing primer, Investopedia?

What Does Capitalism Mean?
An economic system based on a free market, open competition, profit motive and private ownership of the means of production. Capitalism encourages private investment and business, compared to a government-controlled economy. Investors in these private companies (i.e. shareholders) also own the firms and are known as capitalists.

What does the Financial Times have to say about our financial system this morning?   Read the rest »


Let’s Revisit Whether the Market is Being Manipulated

Posted by Larry Doyle on March 22nd, 2010 9:52 AM |

Is the stock market being manipulated?

I can not count the number of times I have been asked that question over the last 9 months. Rather than my offering personal opinions which market pundits may view as sour grapes or worse, I want to revisit a ten-minute segment of my interview last evening with Phil Davis.

The segment runs from 29:45 until 40:00 (audio player provided below). If you do nothing else today, please listen to this dialogue between Phil and myself. Neither of us goes into this conversation with agendas or preconceived notions in an attempt to score points. I will offer an edited version here. I think you will find the information, thoughts, and opinions offered to be enlightening. Read the rest »


Phil Davis Provides Sense on Cents

Posted by Larry Doyle on March 20th, 2010 9:27 AM |

What better way to prep for my conversation with Phil Davis tomorrow evening on No Quarter Radio’s Sense on Cents with Larry Doyle than reviewing Phil’s “sense on cents” thoughts today.

There are many reasons why Phil Davis is one of the most widely read and highly regarded trading strategists and market analysts in the country today. Phil’s commentary, Options, and Patience, Expire Today, posted at Seeking Alpha provides insights and perspectives not often found on or off Wall Street.

Phil writes:

Well, now we’re officially cashed out! Read the rest »


FINRA’s Enforcement Chief, Susan Merrill, Has Some Set of Balls

Posted by Larry Doyle on March 19th, 2010 7:36 AM |

I have grown accustomed to some truly shocking developments and resulting statements throughout the course of our economic crisis. That said, the statement I read late last night from the soon to depart Chief of Enforcement at FINRA, Susan Merrill, left me absolutely aghast.

As reported by the financial industry newsletter, Investment News, Ms. Merrill said she was,

“especially proud of the actions we brought regarding auction-rate securities….as well as vigorous actions to shut down Ponzi schemers.”

Wow. With that reflective comment on her FINRA tenure, Ms. Merrill must believe people do not read these comments, they have no understanding of their context, or America is simply stupid.

Well, Ms. Merrill, I do read these comments. I do have an understanding of their context. I would like to think I am not stupid, and I welcome sharing my reaction with the American public.

In my opinion, you have some set of balls. Read the rest »


No Quarter Radio’s Sense on Cents with Larry Doyle Welcomes Phil Davis

Posted by Larry Doyle on March 18th, 2010 2:03 PM |

UPDATE: This episode of NQR’s Sense on Cents with Larry Doyle has concluded. You can listen to a recording of the episode in its entirety by clicking the play button on the audio player provided below. Once the audio begins, you can advance or rewind to any portion of the episode by clicking at any point along the play bar.

********************

I am thrilled to have Phil Davis join me this coming Sunday evening from 8-9 pm ET on No Quarter Radio’s Sense on Cents with Larry Doyle. Phil is one of the most widely followed financial market strategists today; he operates the highly visited website, Phil’s Stock World. In addition, Phil is a fellow contributing author at the popular financial website, Seeking Alpha. From Seeking Alpha, we learn more about Phil and why thousands follow his writing and insights:

Philip R. Davis is a founder of Phil’s Stock World (www.philstockworld.com), a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders. Mr. Davis is a serial entrepreneur, having founded software company Accu-Title, a real estate title insurance software solution, and is also the President of the Delphi Consulting Corp., an M&A consulting firm that helps large and small companies obtain funding and close deals. He was also the founder of Accu-Search, a property data corporation that was sold to DataTrace in 2004 and Personality Plus, a precursor to eHarmony.com. Phil was a former editor of a UMass/Amherst humor magazine and it shows in his writing — which is filled with colorful commentary along with very specific ideas on stock option purchases (Phil rarely holds actual stocks).

Please join me and Phil Davis this Sunday evening for what will assuredly be not only an education, but a riveting and engaging conversation as well. Do a friend a favor and share this with them. They will thank you.

LD


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Larry Doyle

Larry Doyle A Wall Street veteran's views and instincts on the markets, economy, and all things financial.







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