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HomeHedge Fund Survey: “Findings Are Troubling”
Posted by Larry Doyle on May 7th, 2013 8:03 AM |
Early last year, the US Attorney for the Southern District of New York, Preet Bharara, in alluding to activities within the hedge fund community asserted that insider trading was rampant and routine. Strong words.
Fast forward a year and a recent survey of those within the hedge fund world unsurprisingly shows that a host of issues remain, and that the “findings are troubling.” Let’s navigate and review the results of this recent survey: (more…)
JP Morgan Seems To ‘Love That Dirty Money’
Posted by Larry Doyle on May 6th, 2013 8:12 AM |
If those in my beloved hometown of Boston “love that dirty water,” then similarly current management at my last stop on the sell side of Wall Street, that being JP Morgan, seem to ‘love that dirty money.‘
The filth and stench surrounding this story runs so high as to have recently influenced JPM’s bedmates — er, I mean regulators — to pronounce that they do not trust JP Morgan management. Wow. That’s saying something.
We know that only 1 in 5 in America trust our banks (down from 1 in 2 a mere 5 plus years ago), but for regulators to now voice their distrust in JPM’s management is a cry from the bedroom not often heard. What’s going on at JPM? Let’s navigate. (more…)
Gundlach Talks, Sense on Cents Listens
Posted by Larry Doyle on May 3rd, 2013 7:42 AM |
Regular readers know how highly I regard the prescient investment insights of Doubleline’s Jeffrey Gundlach.
A month ago, Investment News laid out 10 Spot On Predictions by Mr. Gundlach. His uncanny calls on specific market sectors and timing include:
Treasurys Will Rally, April 2011
Go long Japan, short the yen, December 2012
Natural gas is the new gold, April 2012
Bullish on equities, March 2009
Told people to get out of Apple’s stock
Warned investors on sub-prime market, April 2007
Heck, Gundlach even provided a tip to police that helped them solve an art heist from his home. So what is this savant thinking now about the bond bubble, US Treasury market, stocks vs bonds, inflation, interest rates, QE, and real estate?
Ben Bernanke Pulls a Yogi Berra
Posted by Larry Doyle on May 2nd, 2013 8:04 AM |
When you come to a fork in the road . . . take it.
In the early years of the last decade, I had the pleasant experience of attending a dinner for a major client at which Yogi Berra was a guest speaker. As a lifelong baseball fan — and by the way, how ’bout those Red Sox? — I looked forward to hearing Yogi regale us with legendary tales about the great Yankee teams.
He started his delivery by unequivocally stating, “I am not good at giving talks, so just go ahead and ask me some questions.” He entertained us with a slew of his famous non-sequiturs in fine fashion.
I thought of Yogi and that dinner when the Federal Reserve released its statement on the economy yesterday afternoon. (Do you notice a facial similarity between Ben and Yogi?) Having read Fed releases for the last thirty years, I am hard pressed to ever remember a statement as ambiguous as this put out yesterday:
(more…)
Sachs Unloads Again on Wall St-Washington Incest
Posted by Larry Doyle on May 1st, 2013 7:35 AM |
A few days ago Columbia University’s Jeff Sachs delivered a diatribe on the crony corruption pervasive in the Wall Street – Washington dynamic to a cadre of elites in attendance at a Philadelphia Federal Reserve symposium.
Well, yesterday Sachs took his message to the masses in the midst of an exchange on MSNBC’s Morning Joe.
Selected other liberal contributors to this exchange seemed to me to be almost embarrassed by the beating Sachs put on the “bought and paid for” crowd atop Capitol Hill and others residing and working at 1600 Pennsylvania Avenue.
Grab a second cup of coffee and watch this clip from the 3:30 mark. It will only take you 8 minutes and it is well worth it. (more…)
