RSS Feed
Twitter
Facebook
Email
HomeLet’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. (more…)
No Quarter Radio’s Sense on Cents with Larry Doyle Welcomes Back The Daily Bail
Posted by Larry Doyle on March 13th, 2010 6:47 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.
****************************
Feedback from my initial conversation with Steve Megremis of The Daily Bail was so overwhelming that I am compelled to have Steve back on No Quarter Radio’s Sense on Cents with Larry Doyle this Sunday evening from 8-9pm ET.
I first spoke with Steve in mid-January. Given the pace of developments in Washington, on Wall Street, and at so many other points on our economic and political landscape, I am thrilled to have him back on the show. We will leave no stone unturned in discussing healthcare, financial regulatory reform, the Fed, Lehman Bros., and so much more. I guarantee we will pull no punches in promoting truth, transparency, and integrity in our discussion. Don’t miss it!! (more…)
Media Appearance on the Barry Farber Show
Posted by Larry Doyle on February 9th, 2010 6:43 PM |
UPDATE: You can listen to an audiotape of the show here. I join the broadcast at the 27 minute, 50 second mark.
*******************
I will be a guest this evening on the Barry Farber Show. Barry’s radio broadcast runs from 8-9pm ET. I will be on for the last half hour of the show.
Barry writes at the widely disseminated WorldNetDaily. His syndicated radio show is broadcast over many stations, but you can also listen live on the internet via the CRN Digital Talk Radio website. Once on the site, navigate over to the right side of the page and under the heading “Listen Live,” click on CRN 1 for live audio of the show.
Rest assured, I will provide a full helping of Sense on Cents for Barry’s audience. Hope you are able to listen in.
LD
No Quarter Radio’s Sense on Cents with Larry Doyle Welcomes Richard Greenfield, Sunday Night at 8PM EDT
Posted by Larry Doyle on October 17th, 2009 2:31 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.
******************
The detonation of the bombs that have hit our economy may have been launched on Wall Street, but certainly the collateral damage has been experienced nationwide if not globally. While regulators were admittedly asleep at the wheel during these attacks, who in our country is now positioned to hold bankers and regulators accountable? The media? Please. Will regulators hold themselves truly accountable? Maybe on a going forward basis, at best. Then who?
Please join me this Sunday October 18th from 8-9pm EDT for No Quarter Radio’s Sense on Cents with Larry Doyle as I welcome Richard Greenfield for what will assuredly be a riveting conversation. Who is Richard Greenfield and what areas of expertise does his firm Greenfield and Goodman occupy? Why am I so excited to have him on my show?
Greenfield and Goodman concentrates its practice in complex financial litigation and, particularly, in corporate governance, banking, consumer rights and shareholder litigation. As a direct result of the efforts of the Firm and its predecessors, many millions of dollars have been recovered for defrauded investors and other persons injured by illegal corporate activities and obtained fundamental changes in corporate governance, particularly in the areas of control procedures and risk management. The Firm and its predecessors have also been responsible for obtaining a number of particularly noteworthy judicial opinions which have not only strengthened consumer and investor rights generally, but substantially aided in the prosecution of complex litigation to preserve such rights.
As for Mr. Greenfield himself, he has a resume that just won’t quit:
RICHARD D. GREENFIELD has been admitted to practice before the Supreme Court of the United States, the Courts of Appeals for the Second, Third, Fifth, Ninth and Eleventh Circuits, various federal district courts, as well as the Courts of the Commonwealth of Pennsylvania, the State of New York and the State of Maryland. Mr. Greenfield is a 1965 graduate of the Cornell Law School, where he was awarded a J.D. In addition, he has earned degrees in Accounting (B.S. Queens College) and Business Administration (M.B.A. Columbia University Graduate School of Business).
Mr. Greenfield is thoroughly experienced in banking, securities and consumer litigation, having served as Lead or Co-Lead Counsel for plaintiffs in shareholder class and derivative actions alleging violations of the federal securities laws and/or breaches of corporate governance standards, in class actions brought on behalf of trust beneficiaries against major trustee-banks as well as in a wide variety of banking and consumer fraud cases. Mr. Greenfield founded and was Senior Partner in a 48 lawyer Pennsylvania-based law firm that specialized in such litigation; it was disbanded in 1993.
Rather than listing the major periodicals and news outlets in which Mr. Greenfield has been featured, it would be easier to list those in which he has not.
In the midst of all of his other professional and philanthropic activities, Mr. Greenfield is currently representing Benchmark Financial, Standard Investment Chartered, and Amerivet Securities in complaints against the Wall Street self-regulatory organization FINRA.
In the spirit of continually pursuing transparency and integrity along our economic landscape, please join me this Sunday evening for what will assuredly be a fascinating discussion with Richard Greenfield.
This show, as with all of my shows, is taped and archived along with being available as a podcast on iTunes.
LD
Economics Blogosphere Exploding
Posted by Larry Doyle on July 16th, 2009 10:41 AM |
Where can one go to truly find out what is going on in the economy and the markets?
More and more people are headed to the internet and the world of blogs. The Wall Street Journal highlights this development today in reporting, The New Stars in the Blogosphere:
Americans trying to understand the nail-biting financial trauma of the past several months are flocking by the millions to a surprisingly lively source of enlightenment: blogs written by economists.
Such blogs are thriving in this recession, driven by intense interest from policymakers, investors, academics and people like Zina Poletz, a Minneapolis public-relations executive who says she had little interest in economics before the financial crisis intensified last fall. “I never thought I’d be sitting up late at night reading what [Federal Reserve chairman] Ben Bernanke thinks, but now I do,” she says.
For many people, economics has never seemed so captivating, or so relevant. The enormous appetite for information and guidance right now is hardly a surprise: Even those with a basic knowledge of supply and demand have struggled to keep tabs on the global downturn.
I sensed this growing demand last Fall while writing at NoQuarter and was driven to launch Sense on Cents as a result. My hopes and expectations in launching this blog have far exceeded my expectations. The gratification stems purely from helping people. As Simon Johnson, founder of Baseline Scenario, a professor at MIT’s Sloan School of Management, and former chief economist of the IMF says:
“I think there’s a big market for explaining to people what the heck is going on in a global context”
I totally concur. I am additionally heartened by this WSJ review because I believe Sense on Cents actually differentiates itself even further given my real world career on Wall Street as a trader, salesman, and sales manager. I am encouraged by feedback from other outlets on the web. Combining economic analysis along with market based instincts hopefully helps people understand the financial landscape along with day to day market movements, on both a macro and micro level.
For newer readers, please avail yourself of the Career Planning material, links to Financial Primers, links to Economic All-Stars (my favorite economists and money managers), and the library of material embedded in my posts (almost 600 highly original and hopefully value-added posts, the bulk of which have been written in the last 5 months).
The WSJ graded a number of blogs in terms of Originality, Geekiness, and Readability. My competitive juices are driving me to be the BEST blog by all these measures.
While selfishly I hope more and more people feel that coming to Sense on Cents provides them truly insightful perspectives on the economy and market, I will let the chips fall where they may and simply focus on putting forth the best product possible.
Please never hesitate to share thoughts, comments, questions, criticisms on any topic. You will be helping me achieve my goal in the process.
I thank you for your support!!
LD
NoQuarter Radio’s Sense on Cents with Larry Doyle
Posted by Larry Doyle on June 13th, 2009 6:56 PM |
UPDATE: The show has concluded, but you can listen to a recording in its entirety by clicking the Play button on the audio player below. Once the playback has started, you can fast forward or rewind to any portion of the show by clicking at any point along the play bar.
***************************
Please join me this Sunday evening June 14th from 8-9 p.m. ET for NoQuarter Radio’s Sense on Cents with Larry Doyle. The markets gyrated this week but ultimately ended up close to unchanged across the board. That said, our economic landscape continues to provide numerous twists and turns. Let’s navigate.
The wizards in Washington are working feverishly on an overhaul of the regulatory framework of the financial industry. Or are they? Will real changes be implemented or is it mere pandering? Sense on Cents is thrilled to host the preeminent veteran Wall Street regulatory lawyer and market reform advocate Bill Singer this Sunday evening.
Bill’s career is nothing short of extraordinary. He is engaged far and wide for his legal expertise and advocacy on a wide array of regulatory issues. At this point in our financial and economic turmoil, nobody is better positioned to address the intersection of Wall Street and Washington than Bill Singer.
More specifically, Bill operates within the following realms:
-
shareholder in the Securities Practice Group of the law firm Stark & Stark
-
Publisher of http://brokeandbroker.com
-
Publisher of http://RRBDLaw.com
-
Columnist and Member of Forbes.com’s Intelligent Investing Panel
Bill and I will engage in a no-holds-barred conversation about the recent meltdown of our financial system:
-
What role did inept regulation and incompetent regulators play in allowing the tragedy to unfold and proceed?
-
Should the present regulatory system be salvaged, or demolished and replaced with a new scheme?
-
A major part of the regulation of Wall Street is done by a so-called self-regulator whose rules and Board members are voted on only by its member firms — is this still a good idea?
-
Why don’t powerful industry interests want the job of stockbroker to be “professionalized” along the lines of medical doctors, lawyers, and CPAs?
These are truly historic times in the global economy. Let’s “navigate the economic landscape” without the pandering or nonsense found elsewhere!
With Bill Singer on this Sunday evening, you can rest assured we will leave no stone unturned in navigating all the angles on this part of our economic landscape.
Please spread the word amongst friends and colleagues not to miss the show this Sunday evening on NQR’s Sense on Cents with Larry Doyle.
LD
Interview on The Rude Awakening, 104.3 FM Tampa Bay
Posted by Larry Doyle on June 9th, 2009 6:15 PM |
I will be interviewed tomorrow morning (Wednesday) on The Rude Awakening, WIFL 104.3 FM, Tampa Bay. Show runs from 8-9am. You can listen to the show live via the internet. Details right here . . .
LD
Uncle Sam Economy: Not Exactly a Level Playing Field
Posted by Larry Doyle on June 9th, 2009 8:08 AM |
As we navigate the landscape of the Uncle Sam Economy, we will soon realize that the “playing field” is anything but level. What does this mean? How can we most appropriately manage? Will there be opportunities? Let’s break out our compass and project what is on the horizon.
As Bloomberg reports, U.S. Said to Plan Approval for 10 Banks to Repay TARP:
The Treasury is preparing to announce today it will let 10 banks buy back government shares, people familiar with the matter said, signaling confidence some of the largest U.S. lenders won’t again need a taxpayer rescue.
JPMorgan Chase & Co. is among those cleared to repay Troubled Asset Relief Program funds, a person said on condition of anonymity. Goldman Sachs Group Inc., American Express Co. and State Street Corp. are also among those that have sold shares and debt unguaranteed by the government, demonstrating they can raise funds without federal aid.
Allow me to provide further color:
1. Why are these institutions keen to repay TARP funds, which are widely held to be a cheap source of funding?
As none other than Pimco’s Bill Gross said of Uncle Sam, “don’t turn your back on him.” I would agree. Uncle Sam is not a good business partner. His agenda runs much farther afield than the bottom line focus of these institutions.
Make no mistake, the greatest motivation for these institutions to repay TARP funds is to be freed from the shackles of compensation controls. The major assets of financial institutions ride down the escalator and go out the door every evening. Operating under compensation caps is a surefire way for an institution to achieve “extreme mediocrity” over the long haul. Why?
The strongest employees will gravitate toward more attractive and financially rewarding opportunities.
2. From an investment perspective, how should we think of TARP recipients versus prospective non-TARP recipients?
In my opinion, the non-TARP institutions will be viewed much more as “growth” opportunities. Why? They will be able to more aggressively allocate capital and take risk unencumbered by Uncle Sam and his minions.
The TARP recipients may very well gravitate more toward a utility-type of business in which they provide basic services while simultaneously fulfilling elements of Uncle Sam’s social agenda.
Geithner, Bernanke, Obama and team will discount this reality but I believe it is a strong likelihood within the financial industry, much as it will be within the automotive industry.
3. From a borrower’s perspective, how should we think of TARP recipients versus non-TARP recipients?
Perhaps initially there will not be much disparity in the relative pricing of different products, but I do believe the disparity will grow over time. All we need to do is review the undercutting of prices within the insurance industry by AIG to see the potential for the same within the financial industry. As borrowers, we will likely have more opportunities to comparison shop going forward. It is not inconceivable that certain non-TARP institutions decide to exit select businesses as pricing becomes non-economical.
4. The greatest question remains, will any of these institutions, both TARP and non-TARP alike, ever be allowed to fail?
The fear of failure at one point was the greatest motivator for innovation and real long term success. Having violated this moral hazard by unprecedented margins, the cost to capitalism will only be known far down the road.
As such, the need to prudently and proactively navigate the economic landscape will remain of paramount importance. The need for Sense on Cents will grow ever stronger.
That’s a good thing!!
LD
