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HomeBaupost’s Seth Klarman Warns of Asset Bubble
Posted by Larry Doyle on March 10th, 2014 7:51 AM |
More often than not, I take the wisdom provided by selected talking heads and industry insiders with a pound of salt.
Without being overly cynical strictly for cynicism’s sake, I discount a fair bit of the analysis put forth by many financial sleuths based on the individual ‘talking his own position.’ In fact, I believe that many outlets predominantly look for guests who play the game and toe the industry’s party line.
To that end, I look elsewhere for insights and perspectives that I really appreciate. Who are some of the money managers I truly respect but are rarely seen on major financial outlets? Bob Rodriguez, Jeremy Grantham, and Seth Klarman, who just so happens to offer some pointed insights highlighted today in a commentary in the FT: >>>>>> (more…)
Invisible Taxes = Loan Sharking = Usury
Posted by Larry Doyle on August 24th, 2010 8:27 AM |
Why is it that the very people who saved and invested to finance a lot of the growth in our nation are now the very ones being penalized by the exceptionally low interest rate policy of the Federal Reserve? While Ben Bernanke and his Washington cronies maintain that our economy needs these artificially induced government driven interest rates, the very fact is these anemic rates are crushing those citizens in our country who live on fixed incomes and rolled their CDs. While savers are getting waxed on one side of the coin, the banks are sticking it to our brethren who rely on credit lines from their credit cards on the other side. That’s business, you say? No, that is not purely business. In the midst of an economy dominated by the government, our current interest rate and credit card policies are nothing more than invisible taxes on both savers and consumers alike.
There are two sides to this coin and on both sides banks are squeezing American citizens. Savings rates have plummeted while borrowing rates via credit cards move higher. Both these points are highlighted in recent commentaries. (more…)
Let’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…)
China, Greece, and Germany Rattle Overnight Markets
Posted by Larry Doyle on February 12th, 2010 7:11 AM |
No rest for the weary.
If you thought yesterday’s nice 1% upward move in our equity markets was a precursor for calmer and stronger markets ahead, think again.
Overnight developments in China, Greece, and Germany are clear signs that our economic landscape remains challenging and our markets remain fragile. Let’s navigate:
1. Looking eastward, China’s central bank raised reserve requirements (interest rates) by 50 basis points (.50%). Why? (more…)
Nouriel Roubini Agrees with Jeff Gundlach
Posted by Larry Doyle on October 27th, 2009 11:18 AM |
Dr. Doom agrees with Wall Street’s top fixed income manger? Who are these individuals and on what do they agree?
Both these individuals are Economic All-Stars here at Sense on Cents (see left sidebar). Nouriel Roubini (aka Dr. Doom) and Jeff Gundlach (aka Wall Street’s top fixed income manger) possess a contrarian view on the future of the U.S. dollar. While most analysts, economists, traders, investors, and speculators call for ongoing weakness in the greenback, Roubini and Gundlach believe the dollar will rebound and risk-based assets will retreat.
I addressed Gundlach’s views on this market driving principle on September 10th when I wrote “Jeff Gundlach of TCW Calling for Deflation and Dollar Rally”: (more…)
