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Gundlach: “We’re Going to Jump the Track”

Posted by Larry Doyle on April 25th, 2012 4:59 AM |

When Jeffrey Gundlach talks, I listen.

The perennial Morningstar Fixed Income Manager of the year and CEO of Doubleline Capital spoke yesterday at the Investment Management Consultants Association national conference. What did he have to say? A lot.

You may want to put down your coffee and dispose of any sharp objects prior to reading this. Let’s navigate as Investment News shares Gundlach’s wide ranging views on our economy, policy and investments in writing, Dour Gundlach Sees Dramatic Comeuppance for U.S., >>>>> Read the rest »


Will Uncle Sam Takeover Your IRA? Part II

Posted by Larry Doyle on April 24th, 2012 7:23 AM |

Those engaged in massive strategic maneuvers know all too well that progress is typically made not in one fell swoop but painstakingly inch by inch.

With deficits beyond the scope of imagination but oh so very real, I cautioned people to keep a watchful eye on Uncle Sam. Where might the old man go to beg, borrow, or steal money to fill that enormous fiscal hole? Your retirement accounts. I first broached this topic in early 2010 in writing, Blueprint for Government Takeover of IRAs and Will Uncle Sam Takeover Your IRA?.

Fast forward and we now witness rumblings around Washington that the drunken sailors disguised as our political leaders are discussing how to make a move on your retirement savings.  Read the rest »


60 Minutes: The Case Against Lehman and Financial Regulators

Posted by Larry Doyle on April 23rd, 2012 7:28 AM |

Having been away for the weekend, I missed last night’s edition of 60 Minutes and thank a loyal reader who brought it to my attention.

How is it possible that even today an institution such as Lehman Brothers, which clearly engaged in accounting maneuvers designed to disguise its true financial position, is not pursued so real justice can be meted out?

We keep coming back to the same old question: Where were the regulators, both the SEC and FINRA? Pervasive evidence over the years continues to persist that our regulators were and are fully and totally captured as they served to protect Lehman and virtually every other major Wall Street firm. The fact that the SEC has still not chosen to pursue Lehman executives is a massive indictment of our financial regulatory system. This is not a difficult assessment to make. Enough with the sovereign immunity for the SEC and absolute immunity for FINRA. Put these institutions and appropriate individuals on trial along with the appropriate Lehman execs…and many more. The integrity of our nation is at stake.

Watch this 13 minute video and ask yourself the question, “Is our system corrupt”? Read the rest »


Banking: Wall Street vs Main Street by R. Wilmers

Posted by Larry Doyle on April 18th, 2012 6:50 AM |

This commentary is a little lengthy, but for those with even a passing interest in banking, our markets, our economy, and ultimately our nation it is a MUST READ. Think those in Washington really know what they are doing? Think all regulation is good regulation and that one size can truly fit all? The divide from Wall Street to Main Street is widening. To get a perspective on both sides of the street, read this fabulous review by M&T Bank’s Robert Wilmers. I recommend you save this, as we will refer back to it while we continue to navigate our economic landscape. LD

Reflections on the State of Banking and the Leadership Crisis
As relatively good a year 2011 was for M&T itself, it was far from an easy one. Indeed, it is difficult, for one who has spent more than a generation in the field, to recall a time when banking as a profession has been publicly held in such persistently low esteem. A 2011 Gallup survey found that only a quarter of the American public expressed confidence in the integrity of bankers.  Read the rest »


Naked Short Selling: A “Wall Street Conspiracy”?

Posted by Larry Doyle on April 17th, 2012 7:54 AM |

Do readers recall Dick Fuld, then CEO of Lehman Brothers, railing against hedge funds that were attacking the once venerable firm by aggressively shorting its stock? Fuld maintained that these aggressors were engaged in a practice known as ‘naked short selling’ and that they brought Lehman to its knees in the process.

The last four years have brought us plenty of intrigue and innuendo about a host of illegal and illicit practices on and off Wall Street, but we have heard and seen little about this practice. Why? What questions need to be addressed on this topic?  Read the rest »


“Best Tip You’ll Ever Get”

Posted by Larry Doyle on April 16th, 2012 7:24 AM |

Who would not want to have some sort of forewarning regarding major market moves? While many brokers and financial planners are keen to offer insights as to what their in house strategists think of the market, remember these individuals and their firms ultimately and primarily get paid when they sell you products. How about an independent and insightful tip from an industry insider whom I have come to respect for a wide variety of reasons?

With the markets having recently experienced some indigestion, over the weekend this individual sent me what he kindly described as “the best tip you’ll ever get.” Read the rest »


Merrill Lynch: Time to Take Some ‘Risk Off’

Posted by Larry Doyle on April 13th, 2012 2:40 PM |

With so many sectors of the market displaying significant correlation, investors and traders have come to define market movements, in general, as ‘risk on’ and ‘risk off’.

Despite the fact that central banks have provided endless amounts of fuel to prop markets, there are still points in time when indicators flash warning signals that markets are overextended. Is now one of those times?

According to Bank of America Merrill Lynch it is.  Read the rest »


Is JP Morgan Fronting for the Fed?

Posted by Larry Doyle on April 13th, 2012 9:09 AM |

UPDATE: This commentary written in mid-April 2012 should be read in conjunction with the following:

May 14th Review: Bloomberg Bombshells re: JP Morgan $2B Loss

May 12th review: $2B Loss? What Went Wrong at JP Morgan? 

May 11th review: JP Morgan Whale: “Thar She Blows”

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

Reports are swirling around Wall Street and the global markets about massive credit bets on the books at JP Morgan.

A JP Morgan trader in London, Bruno Iksil, has been nicknamed ‘the whale’. Iksil reports ultimately to Achilles Macris, JPM’s chief investment officer in Europe and Asia. Bloomberg had an interesting discussion this morning about Iksil, Macris, JPM, and these positions. Let’s watch and learn… Read the rest »


The Wall Street-Washington ‘Code of Silence’

Posted by Larry Doyle on April 13th, 2012 7:58 AM |

Do you ever wonder why we have not heard more people on Wall Street coming forth to expose practices and policies which were prevalent in bringing our economy and nation to its knees? What is holding people and firms back from coming clean? Why does the same scenario seem to be playing out in Washington as well?

Allowing bad behaviors to remain swept under the rug is little more than a catalyst for further bad behaviors down the road. Actually, punishing those who might look to expose bad practices promotes a code of silence which I strongly believe undermines confidence in our markets and our nation. I am very concerned that we are experiencing this very dynamic at play. Let’s navigate. Read the rest »


To: Hilary Rosen and the DNC: Inconvenient Truths and The Two Parent Family

Posted by Larry Doyle on April 12th, 2012 9:41 AM |

The greatest social program known to mankind is the two parent family.

I find it regrettable that for many in our nation, my broaching this topic is deemed politically incorrect and an inconvenient truth. Family issues encompass a wide array of social and economic topics. As such, and as I navigate our economic landscape here at Sense on Cents, I feel compelled to address them.

In my strong opinion, the media and those whom the media protect would like to distract the nation by discussing contraception rather than addressing the inconvenient truths of single parent families. Are we so narrow minded and unable to garner what is truly going on here?  Read the rest »


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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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