Saturday, December 19, 2009

Your Weekend Reading for 19-20 Decemebr 2009

Risk Reversal Continues: Since one of the top Bloomberg stories today focused on Bill Gross’ highest cash position since the fall of Lehman Brothers, I think it is appropriate to assess the backdrop that might explain his actions....

Stock investors won't hold breath for Santa: Santa came early for Wall Street this year by delivering a 22 percent return for 2009, and with just a handful of trading days to go, stock investors aren't expecting to find much more under the tree....

National Debt (UK) hits post-war peak as tax receipts slide: The national debt has burst through the 60pc of gross domestic product level for the first time in post-war history, in the latest blow to the Government's fiscal credibility....

18 December 2009 - Financial Stability Review December 2009 (ECB): The extraordinary remedial actions taken by central banks and governments since late last year have been successful in restoring confidence in, and improving the resilience of, financial systems around the world....

Renovating doesn't pay off like it used to: Home remodelers are getting less bang for their bucks. For the fourth straight year, renovation jobs have added less to resale values relative to their costs....

Unofficial Problem Bank List increases to 551: This is an unofficial list of Problem Banks compiled only from public sources....

America's megabanks, Goodbye, or see you again? : America’s big banks are repaying the state. Can they really walk alone?...

2010 Investment Outlook: After a long, hard day of conquering the world, Chinese industrialists toast deals with Scotch whisky....

Saturday, December 12, 2009

Weekend reading 12-13 December

Jon Stewart on Glenn Beck’s Gold Fever: Good Jon Stewart segment taking Fox News fear-monger guy Glenn Beck apart for his self-interested gold fever....

D-Day nears for Dubai's $3.5 billion debt hurdle: Heavy rain pounded Dubai on Sunday adding to the gloom of the emirate's debt woes a day before the deadline of the $3.52 billion bond by state-owned developer Nakheel, with no word on how it will be handled....

Can Obama bully the bankers?: The president wants more lending, less gouging and smaller paychecks. But after a year of pro-bank policies, he may not carry a big enough stick....

Questions surround Woods' future as marketing star: Tiger Woods' decision to withdraw from professional golf due to a sex scandal raised questions Friday about his future as a magnet for corporate sponsors, with AT&T (T.N) saying it was evaluating its ties....

America Must 'Reassert Stability and Lead: Interview with US Economic Recovery Advisory Board Chair Paul Volcker....

House Approves Tougher Rules on Wall Street: The House approved a Democratic plan on Friday to tighten federal regulation of Wall Street and banks, advancing a far-reaching Congressional response to the financial crisis that rocked the economy....

Trichet warns on bankers’ bonuses: Awarding big bonuses to bankers could help sow the seeds of a future financial crisis, Jean-Claude Trichet, European Central Bank president, has warned....

Finreg I: Bank capital and original sin: Banks are not financial intermediaries. Their role is not, as the storybooks pretend, to serve as a nexus between savers with capital and entrepreneurs in need of capital for economically valuable projects....

Macro-prudential supervision in Europe: Speech by Jean-Claude Trichet, President of the ECB, The Economist’s 2nd City Lecture, London, 11 December 2009....

Gold Isn’t the Best Protection Against Inflation: Economic chaos? The dollar crumbling? Central banks printing money like crazy? Probably the only real surprise about the surge in gold prices over the last few months is that it took so long to arrive....

Sunday, November 22, 2009

Sunday reading November 22nd, 2009

Why a Market Crash Doesn’t Matter: People who are worried about whether the stock market will crash or not are worried about a generality. In contrast, the world’s most successful investors are known to deal solely with specifics.

More Stocks May Not Make a Portfolio Safer: Not putting all your eggs in one basket is the most basic principle of investing. It also may be the hardest to get right.

What if a Recovery Is All in Your Head?: Beyond fiscal stimulus and government bailouts, the economic recovery that appears under way may be based on little more than self-fulfilling prophecy.

Exit strategies: the international dimension: Intervention by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB, Euro50 Group Meeting
Is there still a paradigm for monetary policy today? Paris, 20 November 2009

Economists: Wrong Again: As if they didn't cause enough damage by espousing theories that failed to account for the inefficiencies and irrationalities of the real world, many economists are advocating aggressive spend-and-borrow policies to revive the financial crisis-hit U.S. economy that reflect an astonishing degree of naïveté and ivory tower hubris.