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  Thursday, 24 Mar 2011 | 2:18 PM ET

Stocks Are Cheap, Right? Why the Bulls May Be Wrong

Posted By: Jeff Cox
Trader_stocks_up_200.jpg
Getty Images

Stock bulls are taking the short thematic walk from “oversold” to “undervalued” to describe why they think the steroid-induced market has yet more daylight ahead.

In the past day or so, prominent market pros including Laszlo Birinyi, Bill Miller and Leon Cooperman have sounded the value trumpet, proclaiming that major indices, despite their meteoric 90 percent gain off the March 2009 lows, have higher to climb.

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  Thursday, 24 Mar 2011 | 1:38 PM ET

A Guide to Raj's Awesome Defense Strategy: All The Inside Info Was "Confidential—Not Material"

Posted By: Courtney Comstock, Business Insider
Raj Rajaratnam
Getty Images
Raj Rajaratnam

The defense and the prosecution on the trial of Raj Rajaratnam fought more than ever this week over one question.

The question: Is this information material nonpublic information?

Now that it's in its the third week, it's clear that's the most important question of the trial.

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  Thursday, 24 Mar 2011 | 12:36 PM ET

What Is It With Goldman Sachs and Voicemail?

Posted By: John Carney
Goldman Sachs
Getty Images
Goldman Sachs

The disclosure by Lloyd Blankfein that he rarely uses email, preferring to check the daily profits and losses at Goldman Sachs over voicemail, is a reminder that at the highest levels, Goldman is still a “voicemail” shop .

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  Thursday, 24 Mar 2011 | 11:59 AM ET

Goldman Clients Wonder About Their Rank

Posted By: John Carney
The Goldman Sachs booth on the floor of the New York Stock Exchange
Getty Images
The Goldman Sachs booth on the floor of the New York Stock Exchange

Goldman Sachs chief Lloyd Blankfein admitted that not all Goldman Sachs clients are created equal in the eyes of the firm.

The firm ranks clients in terms of their importance.

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  Thursday, 24 Mar 2011 | 11:33 AM ET

Joe Mason: The Gulf Drilling Moratorium Is Costing US a Billion Dollars a Year

Posted By: Lori Ann LaRocco
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On April 20th one year ago, the BP Deepwater Horizon exploded. During the past years, we have heard from the environmentalists as well as the representative of big oil on their positions on the defacto moratorium that has stopped deep water drilling in the Gulf of Mexico.

But caught in the middle of this energy tug of war are the Americans who call the Gulf home. We always talk about the U.S. economy as one entity. But in reality, the U.S. economy is a jigsaw puzzle of local economies.

Dr. Joseph Mason, the MasonHermann Moyse, Jr./Louisiana Bankers Association Endowed Professor of Banking at Louisiana State University and Senior Fellow at The Wharton School, has researched several reports on the economic cost of the Gulf Moratorium. I decided to ask him based on his latest research if things are getting better.

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  Thursday, 24 Mar 2011 | 10:55 AM ET

California’s Tax Hike Did Not Work

Posted By: John Carney
California
California

California’s tax collections grew at around half of what the state projected for 2010—indicating that the state’s fiscal situation may be even more dire than previously understood.

California’s tax collections grew 3.79 percent last year, according to data released by the US Census Bureau . At the start of 2010,California was projecting revenue growth of 6.5 percent.

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  Thursday, 24 Mar 2011 | 10:18 AM ET

Have Consumers Gone on Strike?

Posted By: John Carney
Man shopping for clothes
UpperCut Images | Getty Images
Man shopping for clothes

The economy may be in worse shape than many economists and businesses expect.

Orders for US durable goods—manufactured items expected to last more than three years—were predicted to rise 1.5 percent overall, and to rise 2.5 percent excluding the volatile transportation sector.

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  Thursday, 24 Mar 2011 | 9:06 AM ET

Lloyd Blankfein Prefers Voicemail to Email When Checking Goldman's Daily Profit

Posted By: Julia La Roche
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Portuguese bond yields spike; bailout supposed to come 'soon' [CNBC.com]

Lloyd Blankfein prefers voice mail to email when checking Goldman's daily profit [Bloomberg]

Toyota to US plants: 'prepare to shutdown' [CNN Money]

Batch of earnings today includes Best Buy, Research in Motion and Oracle. Get your earnings coverage here .

Economic data includes initial jobless claims and durable good orders. [CNBC.com via Reuters]

»Read more
  Wednesday, 23 Mar 2011 | 5:41 PM ET

Austerity Measures Rejected by Portuguese Parliament

Posted By: Ash Bennington
  Wednesday, 23 Mar 2011 | 4:38 PM ET

Are European Protectionists Trying to Stop Takeovers?

Posted By: John Carney
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PhotosIndia.com | Getty Images

Since almost all regulation of merger and acquisition activity entrenches management and hurts shareholders, it’s not too surprising that the 172-page consultation document released by the U.K.’s takeover panel recommends a host of measures that will make it harder to oust bad executives through corporate takeovers.

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  • NetNet is where you'll find the low-down and the high jinks of Wall Street. It's the place for insider stories, trader gossip, and tales of the foibles of the moneyed crowd and the culture of finance.Wall Street news and commentary served fresh all day long.

 

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