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Ray Dalio Speaks, Sense on Cents Listens

Posted by Larry Doyle on March 3rd, 2012 8:05 AM |

While most people see the trees, the waves, and the stars, there are a few money managers and economists out there who see and speak truly about the forest, the oceans, and the galaxies.

Who are a few of these individuals?

Jeremy Grantham of Grantham Mayo, whom I highlighted a week ago. Bob Rodriguez of First Pacific Advisors of whom I have written often. Harvard economist Kenneth Rogoff is without peer in understanding and delivering on the depth and breadth of our global economic crisis. I personally think the Fletcher School of Law and Diplomacy’s Amar Bhide is in a class with only Simon Johnson in addressing what the world of finance needs to do in correcting itself circa 2012.

Who else also occupies the loftiest of spots in the Sense on Cents Hall of Fame and distinguishes himself along with these other luminaries?

Read the rest »


The ISDA Emperor Also Has No Clothes

Posted by Larry Doyle on March 2nd, 2012 7:42 AM |

Writing down sovereign debt by over 50% and subordinating one class of bondholders from another –those being the royalty ensconced within the European Central Bank — would not qualify as a “credit” event, now would it? No way! Of course not! Why would it?!

Not when those compelled to pay out on the supposed “insurance” within derivative contracts are the royalty within other large international banks, and they sit in the positions of judge, jury, and counterparty in the case.

Welcome to the world of international finance circa 2012.  Read the rest »


Larry Doyle: The Jesus-Loving Cult of Rick Santorum

Posted by Larry Doyle on March 1st, 2012 9:45 AM |

“LD, have you gone mad??”

“I thought Sense on Cents was a blog to navigate the economic landscape?”

Relax, folks. I have not gone mad and Sense on Cents is not changing its primary goals of promoting investor education and investor protection.

That said, I am compelled to digress in this one commentary given some recent messages I have received in response to a commentary run at the Huffington Post written by a Larry Doyle entitled The Jesus-Eating Cult of Rick Santorum.

Doyle spews forth some truly vile comments which do little to promote a sense of decency in our nation. Read the rest »


ARS Update: Calling All Money Market Investors

Posted by Larry Doyle on March 1st, 2012 7:41 AM |

Sallie Krawcheck Sallie Krawcheck was formerly president of global wealth and investment management at Bank of America and has also held senior positions at Citigroup and Sanford C. Bernstein & Company. She clearly understands the game.

Krawcheck wrote an excellent piece in The Wall Street Journal yesterday on the risks embedded in money market funds. Her work was largely exemplary, BUT fell short of fully informing readers and investors of risks within these funds. Read the rest »


Ultimate “Insider Trading” Is a Job for Serpico

Posted by Larry Doyle on February 29th, 2012 6:27 AM |

Michael Douglas? Have we gone totally soft?

Does America need to call on Michael Douglas, as the FBI recently did, to promote that “greed really is not good”?

Call me unimpressed.

Who would Sense on Cents like to see as the 2012 face to counteract insider trading activity on Wall Street? Not Michael Douglas, but more on this later.

There are many others to whom America might care to listen to understand basic virtues and values. That said, while many in America may be somewhat amused to see Douglas’ face on the Wall Street Journal’s front page, let’s get a little more serious on this topic of insider trading.  Read the rest »


Student Loan Debt Bomb’s Collateral Damage

Posted by Larry Doyle on February 28th, 2012 6:46 AM |

The cost of college and the accompanying burden of student loan payments are having an enormous impact across many segments of our economic landscape.

From basic consumer spending habits to decisions on living arrangements and so much more, recent college grads are facing a decidedly different economic future than their counterparts a decade or two ago.

I ask once again, Are Student Loans an Impending Bubble? Is Higher Education a Scam?

Many people in the field do forecast an impending student loan debt bomb. Why should we be concerned? For the very simple reason that the bomb is ENORMOUS!! Read the rest »


MF Global Customer Makes Impassioned Plea Recommended

Posted by Larry Doyle on February 27th, 2012 8:27 AM |

How are MF Global customers supposed to protect themselves when financial regulators and our legislative bodies show themselves to be incapable of performing that basic duty?

Those engaged in the unseemly acts of Wall Street-Washington Incest have shown their true colors in allowing the most innocent of investors in our nation to be trampled. How un-American of them. That said, while our incestuous ‘friends’ may leak stories over the weekend indicating that the MF Global fight for justice is largely over, let us show them that the fight has only just begun. How might we do so?

Let’s get very specific and highlight an impassioned plea by an MF Global customer who is crying out for help. Sense on Cents welcomes providing a forum to do just that. Read the rest »


Jeremy Grantham Pens a Sense on Cents Classic

Posted by Larry Doyle on February 26th, 2012 4:00 PM |

Every now and then I come across a piece of research that resonates so strongly with my beliefs and also outlines my hopes and desires for launching Sense on Cents. I thank the regular reader who shared just such a piece with me earlier this week.

I exhort you to save this commentary so you can savor the wisdom provided by one of the greatest financial minds in the world today. Of whom do I speak? Jeremy Grantham.

I provide some appetizers from Grantham’s work to excite you to read and share his entire work to which I link at the end. It does not get better than this!!

Jeremy Grantham provides investment advice, his take on the shortcomings of capitalism, and his investing observations for 2012 in this three-part “Longest Quarterly Letter Ever:”  Read the rest »


Is Jon Corzine “Too Big to Indict”? Part VII

Posted by Larry Doyle on February 25th, 2012 9:07 AM |

Four full months have passed and MF Global customers are still out a reported ~$1.6 billion.

How are these individuals and entities surviving? Will they ever see a return of their funds?  Will the public ever learn what truly happened in those fateful days and hours when this firm went down the tubes?

Don’t hold your breath.

In a not unsurprising manner, we receive word on a late Friday afternoon that the investigation into the MF Global demise may be little more than a case of sloppy controls and compliance. Is this to be believed?  Read the rest »


A ‘Sensible’ Outline for Housing Solution

Posted by Larry Doyle on February 24th, 2012 6:54 AM |

All reports to the contrary, unless and until our housing market stabilizes you can rest assured our economy is NOT going to rebound in a meaningful fashion anytime soon.

A wide array of government sponsored mortgage programs to date have yielded very limited support. Uncle Sam has written checks and violated many a moral hazard via these programs, but has very little to show for it in return.

As we enter into 2012, the markets for purchasing versus rental in many geographic regions of our nation are dramatically different. Might a program which promotes converting current foreclosures to rental properties be viable?  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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