Manufacturing and corporate profits are both in recession mode, even though the rest of the U.S. economy continues to limp along.» Read More
Is there anything scarier than salesmen who start claiming that attention to the flaws in their products is nothing but "spin?"
The Wall Street Journal is reporting that the muni business is "fighting back" after 21 weeks of consecutive investor outflows. The problem, as they see it, is not with their products. It's with the people who they are trying to sell their products to. Those investor types are just too damned gullible, believing the likes of that Meredith Whitney woman and others who say that many munis are at risk of defaulting.
Marc Faber thinks gold is still cheap [CNBC.com]
Countdown to the Government Shutdown: Here's how it would affect Americans [Associated Press]
Well, obviously! Obama hopes lawmakers reach a last-minute deal to avert government shutdown [Bloomberg]
Anyone who reads the newspaper or watches CNBC knows David Tice. He is the founder of the Prudent Bear Fund.
Recently, one of Tice's tweets caught my eye—he is the lead investor in the new movie Soul Surfer (TriStar Pictures) which is out in theatres today. It's about the inspirational story of Bethany Hamilton who at the age of 13 was attacked by a shark while surfing and her courageous way back to riding the waves as a professional one-arm surfer.
It's not every day you get to sit down with a quintessential bear and talk about something bullish so I thought now would be a great time to talk to David about something he is excited about.
A lengthy government shutdown could put a halt to some of the basic functions of Wall Street.
New issues of bonds and stocks could be held up during a government shutdown, since they often require registration with regulators. Initial public offerings may be impossible. Mergers could be brought to a standstill, since they often require the approval of a number of regulatory bodies.
A source close to the situation confirms AIG bought assets in the New York Federal Reserve's auction of mortgage backed securities it acquired from the insurance company during the height of the financial crisis.
While Fed Chairman Ben Bernanke maintains allies at the top of the central bank, finding support in the financial community is getting progressively tougher.
Thursday’sEuropean Central Bank decision to raise interest rates, though long expected, nevertheless offered a potential embarrassment: Officials from the home of the sovereign debt crisis schooling the US central bank head on inflation.
True, economic conditions differ between the US and Europe, where inflation pressures are far more tangible at this point. But the subliminal message from ECB President Jean-Claude Trichet was unmistakable: We care about inflation and you don’t.
Following the the radiation leaks in Japan, American and European financial companies with offices in Tokyo faced a serious dilemma. Many of their employees wanted to flee the country until the radiation situation had been resolved. But the companies worried that relocating employees would be seen as a sign that they lacked faith in the ability of Japanese authorities to manage the disaster.
Goldman first-years, you may want to put the "Goldman 15" on your radar because the Goldman Sachs cafeteria just got an upgrade—now it's fully loaded with tempting treats.
The coffee shop on the 11th floor of Goldman's 200 West headquarters in Manhattan now sells the Taiwanese hit "Bubble Tea" and desserts from Momofuku's infamous Milk Bar.
Everyone knows December is one of the strongest months for stocks, but sector performance varies during the holiday season.
After the 2008 financial crisis, big banks made a big mistake. And now they're paying the price, says Dick Bove.
It may be a new regime for the fixed income market, one investor warns.