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The End of The Cult of Equity

Bill Ackman Blocked From Foreclosing on Stuy Town(New York Post) We’re not exactly sure how it’s even possible Ackman could take over Stuyvesant Town just by foreclosing on a $300 million slice of debt he bought for $40 million. But he’s awesome just for trying.

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The Scariest Jobs Chart Ever (Clusterstock) Just got scarier.

The Corporate Bond Market Is About to Get Hit With $90 Billion of New Issuances(MarketBeat) But you're still not supposed to think there’s a bubble in bonds.

The End of The Cult of Equity (ZeroHedge) Citi's Robert Buckland says that the equity cult, which has reigned since the 1950s, is dead.

Jamie Dimon Takes A 50% Haircut on The Value of His Chicago Mansion (Chicago Breaking Business) The asking price dropped from $13.5 to a mere $6.50 million. Ouch!

Citadel's Ken Griffin: Derivatives Trading "Status Quo" Is Unacceptable (Reuters) Calls for OTC trades to be moved to clearinghouses.

Wall Street

  • Robert Shiller

    Nobel Prize-winning economist Robert Shiller says that his key valuation indicator is flashing warning signs.

  • Lael Brainard

    The Fed is in the early stages of an analysis on changes in bond market liquidity, amid signs that liquidity may be less resilient than in past.

  • Bill Gross

    Janus Capital acquired a majority interest in Kapstream Capital and said Kapstream's Palghat will support Bill Gross as co-portfolio manager of the Janus Global Unconstrained Bond strategy.