Archive - Jul 2009

The New York Fed is out with a paper on Emerging Market capital flows.
In a nutshell: not much of those. Probably an opportune time to come out with this piece, as even blind orangutangs can see that the European currency crisis is days if not hours away, and someone, somewhere at the Federal Reserve will be taken to task if they did not have at least a theoretical contingency. Of course, the practical reality with EMs, once the commodity euphoria crashes, will be so ugly that a $1 quadrillion IMF bond raise won't help anyone.

Somewhere, Ben Bernanke is cheering the collapse of the dollar: after all it bought the market another 1%. Of course, forget his sworn duty of protecting the US currency: who cares about hyperinflation when there is a great ponzi stock bubble to reflate.

The East Setauket mega-cores must be doing something shockingly right for a change.

June performance:

• RIEF: up 3.93%
• RIFF: down 5.62%... well not so right here.

Reference: S&P up 0.20%

"'Nigel,

I have got to say that I think you have been rather less than even-handed in the way that you handled our small disagreement last week about how employees should conduct themselves in (and out of) the workplace. And being placed on suspension by that sycophantic loser in HR was just too much; if he was just a bit taller, I would have punched him!"

Joe Saluzzi of Themis Trading on Bloomberg TV, discussing several critical topics previously covered extensively on Zero Hedge: the real state of the economy, high frequency program trading and outright market manipulation. Must Watch.

We're in the process of testing network configurations today, so you might find yourself enduring some delay. Never fear.

Everyone who is anyone on Wall Street has at some point used the Goldman 360 portal whether for research, news, keeping a track of prime brokerage portfolio or, disturbingly, for trading, via the REDI Plus 9.0 platform (now loaded with enhanced algo trading features to make life for you, dear soon to be frontran Goldman client, so much easier). A second widely accepted Wall Street concept is that a disclaimer is the last thing that anyone reads, if ever. Yet after taking a close look at the Goldman disclaimer for the 360 portal, which is an umbrella waiver or all downstream websites, including REDI, one discovers a curious gem