Archive - Nov 5, 2009 - Blog entry

Let me put it more crudely. A senior portfolio manager in public markets once told me "when you're writing $100 or $200 million tickets to private funds, they all want to blow you."

Fiddling while Rome burns ...

That tax deal with Fannie that was recently leaked was actually old news. Fannie signed the deal prior to September 30. So why the recent press? Some one was trying to put some muscle on the "deciders' before the talks were made public. Is this that "opaque government" we were expecting?

We commented yesterday on the absurd (or threatening) hypothesis that the Fed would drain all $1 trillion in excess reserves by the end of March, 2010. Today, we reenter the fascinating world of JPM, Goldman and Pimco Treasury advisors, where inflation is relegated to a mere marketing device, and passing the buck to the last bondholder is a game unto itself.

In our latest piece (within a series of analyses that detail both the technical and fundamental landscapes of gold, silver, copper, oil, the CRB (Commodity Index), the US Dollar, the EURO and the remaining major currencies of the G8 in relation to one another), we at Fibozachi present an initial look into the technical composition of gold.

For a change, this week I decided to only comment on links that suggest that everything in the world is rosy and that the US is already in the middle of an impressively sound V-shaped recovery. Too bad I couldn’t find anyone who argued either of those points credibly. Oh well, guess everyone will have to settle for yet another dose of reality.