Happy Monday, and, of course, Happy St. Patrick's Day. Nothing Wall Streets likes more than the wearing o' the green.» Read More
Happy Friday. And when I say "Happy Friday," I mean I'm happy and it's Friday, and not by coincidence.
Postcards from the U.K.: Maybe, just maybe, banks are ready to get to work at earning our trust again. (The Independent)
The first song I ever learned to play on guitar was Neil Young's "Sugar Mountain." Which is apropos of nothing but helps set up a post on how the Canadian crooner raised $2 million in two days for a new music gizmo. (Forbes)
Most industries recoil at the thought of too much regulation. Bitcoin is finding out what happens when there's not enough.
The cryptocurrency has been adrift in a directionless no man's land without rules to guide it as investors, consumers and policymakers try to figure out just what bitcoin is and is not.
Most recently, it's been hit with a wave of scandals and bad publicity that has seen bitcoin's most prominent exchange file for bankruptcy—causing untold losses to those who traded at Mt.Gox—while journalists hunt for bitcoin's creator and others wonder whether it or any other cryptocurrency can survive.
Enter, then, regulators in New York with a fairly modest plan that could be the first step toward salvation.
Happy Thursday. To our great relief, Bill Ackman has never accused the Morning Six-Pack of being a pyramid scheme.
Cascading copper prices have multiple root causes that lead to one conclusion: The anticipated global economic recovery may not be all it's cracked up to be.
Consequently, analysts are in virtual unison that the extended-term trajectory is lower for the metal often used as a growth barometer. Copper futures are off more than 12 percent in 2014 and 7 percent over just the past three days, though they rose less than 1 percent in Wednesday trading.
A slowdown in the global economy, forced selling by Chinese banks and technical factors have converged in multiple calls for more weakness in a commodity known by traders and economists as "Dr. Copper" for its ability to accurately make economic prognoses.
"It has been our long-held (and non-consensus) view that copper and iron ore prices were set to fall significantly this year," commodities expert Caroline Bain at Capital Economics said in a note. "The speed of the recent price falls has taken even us by surprise, but we still see further downside."
President Barack Obama's approval rating may have hit a new low, but he still attracted big-money Democrats at a Manhattan fundraiser to benefit his political party.
Blackstone Group President and Chief Operating Officer Hamilton "Tony" James hosted Obama on Tuesday night at his Fifth Avenue home for the Democratic Senatorial Campaign Committee.
The event cost $32,400 to attend, and wealthy investors were featured prominently.
The group, according to a person in attendance, included: Jim Simons, the retired founder of hedge fund firm Renaissance Technologies; Roger Altman, founder of investment bank Evercore; Eric Mindich, head of hedge fund firm Eton Park Capital Management; Orin Kramer, head of hedge fund firm Boston Provident; Bill Rudin, chief executive officer of real estate investor Rudin Management; and Bill Mulrow, Blackstone's senior managing director for investor relations and business development.
Hedge fund manager Bill Ackman renewed his attack on Herbalife, saying Tuesday that it operates a pyramid scheme in China in violation of local rules—just like he has long claimed about the nutritional supplement company's practices in the U.S. and around the world.
"Herbalife is violating the direct-selling and pyramid laws and criminal law in China," David Klafter, Pershing Square Capital Management's senior counsel, said during a more than two-hour webcast for about 300 observers, including journalists, analysts and others.
The price of Herbalife shares drifted lower Tuesday but rose initially during the presentation, apparently in response to traders largely dismissing the revaluations in the presentation.
The city of Detroit looks to emerge as at least a survivor if not a winner from its bankruptcy, with bondholders and future municipal borrowers the biggest losers.
That's the picture that has emerged from the troubled Michigan city's struggle to escape from its onerous debt load.
A restructuring plan Detroit filed to escape bankruptcy would impose haircuts of 80 percent or more to bondholders and, according to some analysts, provide a "precedent setting" template for future municipalities that face the same type of fiscal problems.
"Overall, the city's bankruptcy plan is more punitive to bondholders than other creditors," George Rusnak, national director of fixed income at Wells Fargo, wrote in an analysis of the Detroit plan submitted Feb. 21. "This could lead to higher borrowing costs for local governments, particularly in Michigan."
Happy Wednesday. There's a storm coming but we promise this will be the last one of the winter ... maybe.
Prominent money managers are warning of a bubble in some technology stocks and recommending investors avoid emerging markets in favor of Europe.
"The high probability is when you look back on this period five years from now, you'll say some of these companies grew into their (earnings) multiples … but I think biotech and other areas in tech have seen multiple expansions beyond what we can justify beyond any kind of reasonable cash flow expectations," Doug Silverman, co-founder of $6.7 billion hedge fund firm Senator Investment Group, said Monday at the Portfolios with Purpose Awards Night in New York.
"You can only call it a bubble. But I have not guessed when it will end," Silverman added.
Rich Pzena of $23.7 billion Pzena Investments agreed.
"Yeah, I think we are in a bubble. I don't know if I would say it's broadly in tech stocks. I think it's in certain stocks. But the hype feels like we're in another Internet-type bubble like 1999," Pzena said.
Life just isn't getting any easier for Bill Gross.
Not so long ago known as the untouchable Bond King of the investment world, the Pimco founder now finds himself the subject of intense scrutiny, the most recent being over the enormous salary he receives to run the Newport Beach, Calif.-based firm.
Pimco trustee William J. Popejoy believes Gross' reported $200 million annual salary is out of line.
"I think his salary needs to be reviewed," Popejoy told CNBC.com. "I'm not suggesting he be replaced."
(Read more: Big investors warily eye Pimco after internal strife)
Market watchers are split over whether the Fed and other central banks could combat a sharp escalation in Ukraine.
Berkshire Hathaway has urged shareholders to vote against a proposal that it consider a "meaningful" dividend.
Interviews with investors, consultants, and current and former employees show that Pimco will be dealing with the fallout of its former CEO leaving long after he's gone.