Investors will get a little time to catch their breath after Friday's record-breaking Alibaba trading debut, but not too long.» Read More
The reaction to last night’s decision by a federal district court in Florida striking down the Obamacare legislation reveals something surprising: liberals revere the Constitution more than conservatives.
It is often said that conservatives revere the Constitution as if it were a holy writ, infallible and nearly divinely inspired. Conservative rhetoric often supports this interpretation: my old professor Harvey Mansfield used to advocate thinking of the founding fathers as demi-gods.
In reality, however, it’s not the conservatives who revere the Constitutiion—it’s the liberals. They assign it an almost omniscient and omnipotent power: it is always on the side of the right policy. It never goes wrong. When conservatives insist that some policy crafted by liberals is unconstitutional, liberals almost invariably react by saying that conservatives are misreading the Constitution.
Investors panicking the Egyptian chaos could paralyze the Suez Canal sent oil to 2008 highs Monday. Right now the canal remains open but for how long? Worries over the security of the canal are mounting as the unrest continues.
About 10 percent of the 35,000 plus ships that crossed the Suez in 2009, were oil tankers. With so much uncertainty, what are CEOs in the shipping industry bracing for and how should investors navigate through the rough waters? I sat down with Matt McCleery, President of Marine Money International which provides maritime finance transactional information and maritime company analysis.
McCleery is also managing director of Blue Sea Capital Corp, the financial advisory and consulting arm of Marine Money International and is a non-Executive director of the product tanker and dry cargo companies Omega Navigation and FreeSeas .
Deutsche Bank expects larger net revenues. [DealBook]
State tax revenue surprisingly strong in fourth quarter. [Wall Street Journal]
Brutal storms bust budgets. [NY Times]
John Kerry thinks about Egypt after Mubarak [NY Times]
S&P re-affirms Spanish debt rating — but with negative outlook. [Wall Street Journal]
Felix Salmon on the thrill of anonymity. [Felix Salmon]
Why does Google’s Eric Schmidt like old fashioned paper books . [Barry Ritholtz]
It's snowing and gross, but buck up Chuck \(or whatever your name is\)—I'm back and I know you've missed me. Here's what else you've missed while you were dreaming about your chance to snag a Trenta today:
On Saturday afternoon, I visited a rally outside the United Nations building in New York City, where hundreds had gathered to protest the Mubarak regime in Egypt.
I brought my iPhone—and limited photography skills—to document the gathering.
Egyptian ex-patriots, and Americans of Egyptian ancestry, young and old—though principally young—turned out by the hundreds to the rally in Dag Hammarskjöld Park, despite low temperatures and many inches of accumulated snow.
Some of the gathered were draped in Egyptian flags. Many carried signs. Most were eager to speak of their hopes for their native country's future—and, somewhat more reluctantly, of their fears.
The chanting conveyed mostly hope. Sometimes there were several chants at once—muddled together so indistinctly that I at first thought they were in Arabic. The welter of contrasting voices, in the relative calm of a Second Avenue park, situated next to The Trump World Tower, provided some small inkling of the din and chaos of revolution.
The good news is that it doesn't look like any one has posted a guide to blocking the Suez. At least, not in English.
In case you’re wondering what a post-QE2 stock market might look like, Nomura Securites strategist Bob Janjuah has an answer, and it’s not pretty.
The New York Times magazine gave famed Goldman investment strategist Abby Joseph Cohen a prominent interview in the magazine this Sunday. It didn’t go well.
Deborah Solomon typically does a good job in her interviews—eliciting informative responses on complex topics in a relatively short question-and-answer format. As someone who occasionally has to interview people, I know how hard this can be.
A recent paper by Kellog management professor Lauren Rivera “uncovers” something most of us already know: elite investment banks, consultancies and law firms are education snobs.
CNBC's Patti Domm and Jeff Cox discuss the jobs report and the current dilemma of long-term unemployment.
CNBC's Patti Domm and Jeff Cox discuss the recent GDP numbers and what factors have been affecting it.
Investors give and investors take away, and nowhere has that been more true lately than in value stocks.
Even after the Dow and the S&P 500 closed at new all-time highs, closely followed contrarian Marc Faber keeps sounding the alarm.
Eugene Fama, the University of Chicago investing researcher, once again warned investors against the lure of active management.
Fares Noujaim, an executive vice chairman at Bank of America has left the company abruptly.