Posts Tagged ‘Sense on Cents’
Posted by Larry Doyle on June 15th, 2010 5:05 PM |
I need to make a point, on a more regular basis, of visiting my Sense on Cents link to Project Syndicate. This site provides a virtual treasure trove of fabulous writers and insightful global perspectives. For example, widely read and renowned economist Nouriel Roubini offers what policymakers should do in writing, How to Avoid a Double-Dip Recession:
First, in countries where early fiscal austerity is necessary to prevent a fiscal crisis, monetary policy should be much easier – via lower policy rates and more quantitative easing – to compensate for the recessionary and deflationary effects of fiscal tightening. In general, near-zero policy rates should be maintained in most advanced economies to support the economic recovery. (more…)
Tags: double dip recession, How to Avoid a Double Dip Recession by Nouriel Roubini at Project Syndicate, Larry Doyle, Nouriel Roubini, Project Syndicate, Sense on Cents
Posted in General | 2 Comments »
Posted by Larry Doyle on May 28th, 2010 7:04 AM |
Sense on Cents is all about helping people understand risk. Would you know risk if and when you see it? How would you handle risk? Are there enormous hidden risks in the markets and economy today?
Jeff Gundlach, CEO and CIO of Doubleline, is an expert on assessing and managing risk. Thanks to a loyal Sense on Cents reader for sharing video clips from discussions Jeff Gundlach recently had with Morningstar’s Jason Stipp.
I guarantee you in the course of ten minutes and in reviewing four clips (European crisis, deflation, credit spreads, too big to fail asset managers) of Jeff Gundlach, you will be more well informed and prepared to effectively navigate the economic landscape.
1. DoubleLine CEO, CIO, and portfolio manager Jeffrey Gundlach says the European debt crisis is not close to being 50% priced into the market yet.
2. DoubleLine CEO, CIO, and portfolio manager Jeffrey Gundlach says deflationary forces of excessive debt remain the most important factor in the market today. (Video clip here)
3. DoubleLine CEO, CIO, and portfolio manager Jeffrey Gundlach says the covenants protecting investors have eroded very quickly in recent bond issuances, which will sow the seeds for bigger default problems and weaker performance in the future. (Video clip here)
4. DoubleLine CEO, CIO, and portfolio manager Jeffrey Gundlach says if Citigroup was too big to fail, then so much greater is the risk for asset managers operating with multiples of that market cap. (Video clip here)
Thanks again to Bud for sharing these clips of the top fixed income manager in the markets today, Doubleline’s Jeff Gundlach.
LD
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Tags: Jason Stipp interviews Jeff Gundlach, Jeff Gundlach, Jeff Gundlach of Doubleline on Morningstar May 2010, Jeff Gundlach on asset managers, Jeff Gundlach on credit spreads, Jeff Gundlach on deflation, Jeff Gundlach on European crisis, Morningstar videos with jeff Gundlach, Morningstar's Jason Stipp, Risk, Sense on Cents
Posted in General, Jeff Gundlach | No Comments »
Posted by Larry Doyle on May 24th, 2010 10:25 AM |
Thanks to a loyal Sense on Cents reader for sharing amazing insights and perspectives from some of the best and brightest minds in the world of global finance today.
Like who? Harvard professor Kenneth Rogoff, unparalleled investor Jeremy Grantham, outspoken hedge fund manager Cliff Asness, SEC chair Mary Schapiro (ok, one exception), the extremely private but on Wall Street the extraordinarily highly regarded investor Baupost’s Seth Klarman, internationally renowned Eurasia’s Ian Bremmer, the distinguished Van Hoisington, and noted short seller Jim Chanos.
Their views were put forth at the recently completed CFA Institute annual conference in Boston. There is so much good material here that I beg readers to tag this post and refer to it often. Given the wealth of thoughtful opinion and analyses covering literally every angle of our global economic landscape, one would be hard pressed to digest and process this in one reading. Do yourself the favor, though, and revisit. The wisdom provided here is precious and not commonly found. (more…)
Tags: 2 and 20 model, CFA Institute conference, Chinese risks, Cliff Asness views from CFA Institute conference, costs of moral hazards, Dan Fuss views at CFA Institute conference, deflation given capacity utilization, ethical deterioration in finance, flash crash, global deleveraging, gold, Grantham Mayo, Ian Bremmer views at CFA Institute conference, inflation vs disinflation vs deflation, is Obama a socialist, jason Zweig interview with Seth Klarman, Jeremy Grantham views at CFA Institute conference, Jim Chanos views at CFA Institute conference, John Malvey views at CFA Institute conference, M1 vs M2, MAry Schapiro views from CFA Institute conference, money multiplier, more lawsuits on Wall Street, North Korea risk, Obama, outlook for China, Professor Kenneth Rogoff at CFA Institute conference, public debt vs private debt, rate of unemployment, risks in Iran, Sense on Cents, Seth Klarman of Baupost views at CFA Institute conference, shock and awe in Greece, threats between China and India, Twinkie Market, US vs Japan, Van Hoisington views at CFA Institute conference, velocity of money, when will Fed tighten, who is Seth Klarman
Posted in General | 6 Comments »
Posted by Larry Doyle on May 21st, 2010 9:05 AM |
In the midst of all the legislative wrangling in Washington and the financial gyrations on Wall Street, what does it all mean for everyday American investors? I am not so sure it means all that much. How much are everyday Americans impacted by proprietary trading, derivatives, merged regulators? Very little actually. I am not writing this to discount the proposed financial regulatory reform coming out of Washington, but I remain underwhelmed that it will truly protect everyday investors from the ways of Wall Street.
To this end, I am happy to propose my own Sense on Cents Financial Reforms which I believe regulators should impose on financial intermediaries (brokers, bankers, money managers, et al). I am not only proposing these reforms here, but I am sharing them today with Washington based financial regulators. In deference to my readers, you’re getting the first look. Feel free to share your thoughts on my proposed reforms, and add others which you believe should be implemented. (more…)
Tags: caveat emptor, competency risks, corporate credit risks, counterparty risks, currency risks, derivatives, extension risks, financial reforms, financial regulation, financial regulators, financial regulatory reforms, FINRA, how will financial regulatory reforms impact everyday Americans, interest rate risks, investment risks, liquidity risks, market risks, options, prepayment risks, proprietary trading, Risk Parameters, SEC, Sense on Cents, structure risks, transparency risks, volatility risks, Wall Street, what is a prospectus
Posted in General, regulation, Wall Street | 8 Comments »
Posted by Larry Doyle on April 20th, 2010 1:10 PM |
Edwin P. Morrow, Chairman & CEO of IARFC
I am heartened when great Americans across our country are willing to stand up and lash out at those involved in the Wall Street-Washington incest. I crossed paths with just such an American this morning in Ed Morrow, the chairman and CEO of the International Association of Registered Financial Consultants, a non-profit educational society for the financial planning industry.
Ed wrote to his representaitve John Boehner (R-OH) on financial regulatory topics which he feels are vitally important to his members. I thank Ed for his courage to speak his mind and his willingness to let me run his letter here at Sense on Cents. Thank you to our great American Ed Morrow for writing the following: (more…)
Tags: Ed Morrow, Ed Morrow writes to John Boehner, financial planning education, financial regulatory reform, FINRA liquidation of auction-rate securities, International Association of Registered Financial Consultants, Investigation of the SEC's Response to Concerns Regarding Robert Allen Stanford's Alleged Ponzi Scheme, is SEC charge against Goldman Sachs a cover, Judge Jed Rakoff Standard Investment Chartered, Mary Schapiro board seat with Kraft and Duke Energy, Mary Schapiro board seats, Mary Schapiro's tenure at FINRA, OIG-526 Report, SEC FINRA NASD, SEC OIG review of Allen Stanford Ponzi scheme, Sense on Cents, Wall Street-Washington incest, where to learn about financial planning, who is Ed Morrow
Posted in FINRA, General, Mary Schapiro, SEC | 6 Comments »
Posted by Larry Doyle on April 14th, 2010 10:10 AM |
Charity is one thing. Throwing good money after bad is an entirely different can of worms.
Is the Obama administration’s housing policy trying to be charitable in support of those who have truly fallen on hard times and need government assistance, or is it more redistributing wealth to those who made unwise financial decisions from the outset? Do Obama and team know the difference? (more…)
Tags: 12th Street Capital, Barney Frank, cash out refis, consumer credit problems, Elizabeth Warren, Foreclosure-Prevention ProgramStruggles to Make Impact, HAMP, jeb Hensarling, loan modifications, Mortgage Crisis, mortgage foreclosures, Obama Administration, Obama housing policy, redistributing the wealth, Sense on Cents, sub-prime mortgage lending, wealth redistribution by Obama, you are a sucker
Posted in General, Housing Crisis, Mortgage Crisis, Mortgages | 4 Comments »
Posted by Larry Doyle on April 1st, 2010 7:10 AM |
I recently had an article published in the financial magazine Deluxe Knowledge Quarterly. I was asked to write on the topic of advice I would give to executives of financial intermediaries during these challenging economic times.
I think regular readers of Sense on Cents may detect a few common threads in my article. Please know that I do not merely write about these principles, but I truly believe them and continue to promote them.
Open Invitation
by Larry Doyle
Despite the fact that the economic crisis has clearly changed the nature of business and the expectations of our customers, many of us would love to revert to business as usual. This desire to default to the status quo is part of human nature. Consider how often we see this behavior displayed on Wall Street, in Washington and beyond. (more…)
Tags: advice to credit unions, advice to financial firms, advice to money managers, ask your customers, business as usual, customer and consumer needs, customer interaction, customer satisfaction, customer service, Deluxe Knowledge, Deluxe Knowledge Quarterly, Deluxe Knowledge Quarterly March 2010, how should financial firms adapt, how should money managers adapt business, it's all about the customer, lack of public trust, lack of trust, Larry Doyle, listen to your customers, no more business as usual, Open Invitation, protect your customers, public outrage, rule number one of business, rules of business customer is right, Sense on Cents, staying close to customers, talk to your customers, the customer is always right, Wall street changes, what do customers need and want
Posted in General | 2 Comments »
Posted by Larry Doyle on March 29th, 2010 7:17 AM |
If the American consumer represents 70% of our economy, shouldn’t economists study consumer spending as much as possible? Well, one individual, and he is not a trained economist,–he is actually a physicist by trade– has done and is doing just that. Who is this visionary? Richard C. Davis of the Consumer Metrics Institute.
I hosted Richard on my radio show, No Quarter Radio’s Sense on Cents with Larry Doyle Welcomes Rick Davis, last evening. If you have any interest in the economy (and if the economy is even peripherally linked to the markets), you MUST listen to this interview. Those who follow my work know I am not one taken to hyperbole, but last evening’s show was as good as it gets in terms of cutting edge analysis on the economy focused specifically on the consumer. (more…)
Tags: 1st quarter GDP projection, 2nd Quarter GDP projection, canary in the coal mine, capturing internet retail activity, consumer behavior, consumer data, consumer spending, Daily Growth Index, economic analysis, economy correlation with markets, how is the American consumer doing, how to learn about the consumer and consumer spending, industrial spending vs consumer spending, jobless recovery, Larry Doyle, No Quarter Radio, projecting GDP, retail sales, Rick Davis Consumer Metrics Institute, Sense on Cents, sourcing consumer data, website to learn about consumer spending and behavior
Posted in consumer spending, General | 10 Comments »
Posted by Larry Doyle on March 27th, 2010 4:51 PM |
PLEASE READ and ENDORSE THIS CALL for an INDEPENDENT INVESTIGATION. PLEASE SHARE. Thanks!! LD
I have publicly stated time and again that I believe the Wall Street self-regulatory organization, FINRA, did sit and likely still sits at the nexus of the Wall Street-Washington incest that has brought our nation’s economy to its knees.
Regrettably, we have had no Congressional inquiries into the failures at FINRA. Dare I say, we have had no public pressure from the media to drive a Congressional inquiry.
I am tremendously sickened by Congress not working for America’s citizens interests by investigating FINRA. Please recall that FINRA not only failed to protect investors, but there are strong allegations that FINRA itself participated in some of the greatest frauds on Wall Street via its own internal investment portfolio. Which frauds?
We know they dumped $647 million auction-rate securities in mid-2007 and likely front ran the ARS market while doing it. I unearthed the fact that FINRA owned these ARS in January 2009 when reading FINRA’s 2007 Annual Report. Meanwhile, $150 BILLION held by thousands of investors remains in frozen ARS investments.
There is an outstanding allegation that FINRA invested its own funds in Bernie Madoff. We know they failed to properly regulate and monitor Lehman, Bear Stears, and Merrill Lynch. How much more should Congress need to know?
FINRA needs to be introduced to the American public and investigated by Congress. FINRA has not even received direct focus or attention in Senator Dodd’s proposed Financial Regulatory Reform.
We can sit idly by and allow Wall Street and Congress to dictate to us or we can do something. I choose the latter. I want this post and this site to be the lightning rod to bring attention to how Wall Street’s self-regulation, embodied in FINRA, drove our economy into the ditch.
Please add your support by leaving a comment endorsing this investigation. I intend to keep a focus on this topic until FINRA’s failures are fully exposed and people are held to account. Get your friends and colleagues to do the same. If we can create a groundswell of support, I feel confident I can get some selected media friends to pick this up. From there, I welcome leading this march to Washington.
The American public and American investors deserve nothing else.
Any questions. Please do not hesitate to ask here or write me at senseoncents@aol.com.
Who’s with me?
FINRA must be independently investigated. America needs to learn how the Wall Street cop was not only asleep, but also in bed with the financial industry as Wall Street brought America to the brink of disaster.
LD
Tags: ARPS, ARS, Bear Stearns, Bernie Madoff, BMIS, Bob Errico, Financial Industry Regulatory Authority, financial regulation, Financial Regulatory Reform proposal, FINRA, fraud on Wall Street, Lehman Brothers, Madoff, Mary Schapiro, Merrill LYnch, Rick Ketchum, self-regulation, Sense on Cents, Susan Merrill, Wall street fraud, what is Finra
Posted in General | 30 Comments »
Posted by Larry Doyle on March 27th, 2010 9:56 AM |
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.
If 70% of our economy is driven by the consumer, and Sense on Cents is trying to help people navigate the “economic” landscape, then prudence dictates we drill deeper into how the American consumer is doing during these challenging times.
What drives consumer behavior? How is the consumer adapting his/her personal spending habits? What triggers personal consumption? How can we source this information without being captive to the heavily massaged data provided by the government or industries with inherent bias? Well, if you are interested in learning more you have come to the right place as this Sunday evening from 8-9pm ET, No Quarter Radio’s Sense on Cents with Larry Doyle Welcomes Rick Davis.
Richard C. Davis is the founder and President of the Consumer Metrics Institute. The Consumer Metrics Institute grew out of Mr. Davis’ frustration with the lack of timeliness and poor quality of information available to individual investors about the consumer economy in the United States.
“It became clear to me that nearly all of the so-called ‘Leading Indicators’ available to individual investors were in fact no more timely or leading than last month’s account statements,” he says. (more…)
Tags: consumer behavior, consumer habits, Consumer Metrics Institute, leading indicators, No Quarter Radio, personal consumption, personal spending, Rick Davis, Sense on Cents, the American consumer, U.S. economy
Posted in General, No Quarter Radio, Sense on Cents | 1 Comment »
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