Sense on Cents

Increasing Pressure on DSK and the Euro-Zone

Posted by Larry Doyle on May 23rd, 2011 8:58 AM |

Despite areas of concern both here at home and around the world, most eyes remain fixated on developments within the Euro-zone at large and specifically on the case of former IMF head Dominique Strauss-Kahn.

The temperatures are rising on both the dethroned former international banker extraordinaire and the peripheral countries of the EU. Our market is opening sharply lower this morning on the heels of weakness in the EU. Let’s navigate.

People the world over want to know what really happened a week ago this past Saturday in the suite occupied by DSK at the Sofitel Hotel in New York City. Read the rest »

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Real Evidence That ‘Hope Springs Eternal’

Posted by Larry Doyle on May 21st, 2011 6:23 AM |

The world did not end today. In fact, America begins today anew as a land steeped in greatness. What makes America great?

Plenty of things but wouldn’t you agree that at our core, the true greatness of America is founded upon our competitive spirit and sense of optimism? I strongly believe that.

That said, I fully acknowledge that our national spirit and optimistic outlook have taken real hits and have been undermined over the recent past. However, I wake this morning to a glorious sunshine here in Connecticut and real evidence that for our nation ‘hope springs eternal’.

Are you wondering where I see this evidence? Is it deeply embedded in a forward looking research piece on our economy? No, not there. How about indications of an economic rebound projected by the best analytical models? Nope, I do not see the evidence there either.

Then where you may ask do I see a fabulous example and real evidence that all of America can and should embrace that the indomitable American spirit lives and better days are ahead? Let’s look no further than what transpired just last evening. As reported by every credible media outlet this morning,

Chi. Cubs	5	Final
Boston	15	Final

N.Y. Mets	2	Final
N.Y. Yankees	1	Final

EAST	W	L	PCT	GB	HOME	ROAD	RS	RA	DIFF	STRK	L10
Tampa Bay	25	20	.556	–	11-13	14-7	191	168	+23	Lost 2	5-5
Boston	24	20	.545	.5	15-9	9-11	201	194	+7	Won 7	8-2
NY Yankees	23	20	.535	1	13-12	10-8	219	179	+40	Lost 1	3-7
Toronto	22	22	.500	2.5	10-10	12-12	199	189	+10	Lost 1	7-3
Baltimore	19	24	.442	5	10-14	9-10	171	218	-47	Lost 4	5-5

With these developments just last evening, the Boston Red Sox, which had started the season with a 2-10 record, have now overtaken the Evil Empire, aka The New York Yankees, in the American League East standings. Yes, boys and girls, the world did not end today as many had projected and ‘hope springs eternal’.

Life is good and at least for today, all is well.

Enjoy the weekend and …GO SOX…or dare I say, GO SAWX!!

To add a nice twist on the legend that makes baseball a great part of our national spirit, check out the love along with the mutual disdain for the Yankees captured in this short clip:

Larry Doyle

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Please get your friends and colleagues to do the same. Thanks!!

I have no affiliation or business interest with any entity referenced in this commentary. The opinions expressed are my own. I am a proponent of real transparency within our markets so that investor confidence and investor protection can be achieved.

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Let’s Go To the Videotape: “Attorney Claims Wall Street’s Cop, FINRA, Invested in Madoff”

Posted by Larry Doyle on May 20th, 2011 9:02 AM |

Did you ever have one of those days where you just feel like watching a movie or perhaps checking out a preview?

I feel like today, a Friday in the latter part of May, is one of those days.

I am guessing that market activity may be muted so let’s go into our “archives” for a clip in which numerous questions posed by an attorney bringing suit against Wall Street’s self-regulator, the head of the Madoff Investors Coalition, and yours truly are on display. Former SEC chair Harvey Pitt provides a rejoinder. The bulk of the questions raised in this clip are key points in the aforementioned suit, voluminous details of which are included in this compendium, Amerivet Securities v FINRA.

Be careful not to spill your popcorn or your soda because some of what you may see and hear during this 18 minute clip might truly disturb you. Read the rest »

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ECRI Forecasting Global Economic Slowdown

Posted by Larry Doyle on May 19th, 2011 8:30 AM |

What lies ahead on our global economic landscape?

Pack lightly because the economic road ahead appears to be increasingly challenging. While government mouthpieces and their media friends are wont to look in the rear view mirror for hints of easier traveling, the wise travelers amongst us always keep our eyes on the road ahead.

Who can help us navigate the upcoming terrain and is forecasting a steep economic slope? I thank one of this blog’s most loyal supporters for introducing the Economic Cycle Research Institute to Sense on Cents.

What exactly makes the ECRI so special?

ECRI is the world’s foremost predictor of recessions and recoveries. Read the rest »

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Wall Street’s Meaningless ‘Mea Culpas’

Posted by Larry Doyle on May 18th, 2011 8:56 AM |

“I’m sorry. No, really I am. I did not mean to do it….er, I mean we did not mean to do it. I hope nobody got too badly hurt. Oh, sorry if you did. Really, I mean it and we mean it. I think we were well intentioned but things just got a little out of control. We will definitely try to make sure this stuff NEVER happens again…no, really. This time we definitely mean it. Will you still trust us? Please?”

Are you kidding me? Is “sorry” the best America gets for the ineptitude, incompetence, reckless and abusive behaviors of those on Wall Street and their regulatory overseers in Washington after driving our markets and economy over the cliff?

Who is issuing these meaningless mea culpas? Read the rest »

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Sense on Cents Calls Out Jamie Dimon, Vikram Pandit, Brian Moynihan, Michael Carpenter, and John Stumpf

Posted by Larry Doyle on May 17th, 2011 9:30 AM |

(This commentary is a little lengthy, but not overly so. I strongly encourage you to read and ponder the details embedded here as I firmly believe America’s core principles of decency and justice are on the line. Let’s stand up for America!!)

What would be the outcry in America if a foreign government or corporation knowingly and willingly abused the personal finances of multiple tens of thousands of our fellow citizens? Imagine if that entity were a large Chinese national bank or a Russian financial conglomerate? What if it were a division of an organization involved in illicit activities or even worse?

Do you think the United States government would intervene very aggressively on behalf of our fellow brethren? Might the media be up in arms with headline stories on a daily basis? Would the personal assaults precipitate an international trade embargo or a discontinuation of diplomatic relations? Does this sound like the stuff of a Harrison Ford virtuoso performance? Even better, this must be the plot to the next James Bond thriller, right? Read the rest »

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Weekend Assaults: Dominique Strauss-Kahn, Greece, and Goldman Sachs

Posted by Larry Doyle on May 16th, 2011 6:17 AM |

What a weekend. I would like to comment on two specific situations.

1. Dominique Strauss-Kahn

Just when you think the world could not suffer any further ‘assaults’ from global financial executives on our sense of decency and the virtuous pursuit of truth, transparency, and integrity, enter IMF chief Dominique Strauss-Kahn. While Kahn obviously is innocent until proven guilty and is entitled to due process, his arrest this weekend in New York City on charges of attempted rape, sexual assault, and unlawful imprisonment upon a hotel maid evinces many reactions including:

1. Did he not have other things on his mind worrying about an imminent Greek default and/or restructuring of Greece’s financial debacle?

2. Do you think this is the first time he has engaged in this type of behavior? Read the rest »

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Real Liberty and Meaningful Justice for All?

Posted by Larry Doyle on May 14th, 2011 11:00 AM |

In light of the ongoing and overwhelming evidence of the deeply embedded regulatory capture in a variety of industries (including the Wall Street-Washington incest), is it any surprise why so many in our nation continue to question the differing standards of liberty and justice on both ends of our national spectrum? The powerful unions have bought and paid for so many pols on the left. Large corporations have done the same to many pols on the right. The monied interests on Wall Street always hedge themselves by paying for favors on both sides of the aisle.

Do you sometimes wonder who is working for you and if our nation truly embraces and practices one standard of real liberty and meaningful justice for all?

What do we need? I strongly believe we need a meaningful and vibrant Third Party!!

Larry Doyle

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Matt Taibbi Presents ‘The People vs. Goldman Sachs’

Posted by Larry Doyle on May 13th, 2011 8:58 AM |

Lloyd Blankfein Lloyd Blankfein, chairman and CEO of The Goldman Sachs Group, hears from a lawyer while preparing to testify before the Senate Homeland Security and Governmental Affairs Investigations Subcommittee on Capitol Hill on April 27, 2010 in Washington, DC. The subcommittee is investigating the role of investment banks during the Wall Street financial crisis. (This is a long commentary, but if you have any interest whatsoever in Wall Street, our markets, our economy, and our national character it is a MUST READ. Rolling Stone’s Matt Taibbi lays out in voluminous detail why I have aggressively questioned the validity of a self-regulatory model for Wall Street and whether under that construct Wall Street violated the Racketeering Act. Read it and weep. Then for our national interest, please share this with your friends and colleagues. I thank the loyal Sense on Cents supporter who brought this story to my attention. LD)

On March 2, 2010, I was invited on CNBC’s Street Signs to discuss Goldman Sachs. I pulled no punches that day in cautioning people interested in Goldman Sachs that the greatest risk with Goldman was its’ ‘reputational risk’. For those who care to view that 4 minute Media Appearance on CNBC, my specific comments about GS’ reputation come in at about the 3-minute mark.

Over the last fourteen plus months, the Dow Jones Industrial Average is higher by approximately 20% and Goldman Sachs’ stock is lower by approximately 10%. Read the rest »

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What Is The Smart Money Thinking and Doing?

Posted by Larry Doyle on May 12th, 2011 6:03 AM |

I chuckle as I write the title for this commentary for the very simple reason that it is a line heard so often on the sales and trading desks on Wall Street. We can get a sample of “what the smart money is thinking and doing” from a very recent Bloomberg Poll. Be mindful that those polled represent a global random sampling of 1,263 Bloomberg subscribers.

Would you like to know what they think of the following?

1. Which national markets will offer investors the BEST and WORST opportunities over the next year?

2. What asset class will offer the BEST and WORST RETURNS over the next year? Read the rest »

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