Archive - May 2011 - Blog entry

Move over Jack Meyer and David Swensen, there's a new woman on the mighty US endowment block...

I recently discovered that famed financial commentator, Mike “Mish” Shedlock published a piece in which he quoted an article I published and proceeded to tear my views (at least what he claims my views were) to pieces.

A vet's photographic memory of Vietnam..."How do you fucking pussies do it?"

Freedom on quantitative easing, deflation, restructuring, gold, etc.

Prime Minister Stephen Harper brought a message from Canadian politics to his Greek counterpart Saturday. But is it the right message?

It's not just the banks that are screwing us.

Public Relation people at Goldman Sachs can not be too happy about this, but we just can't resist the party that Fadel Gheit started earlier this week.

I confess to be more than a little surprised when yesterday's morning reading turned up the following headline, from Bloomberg's Bob Ivry: "Fed Gave Banks Crisis Gains on Secretive Loans Low as 0.01%"

You won't believe how many billions public pensions are pouring into hedge funds. Is this positive or sowing the seeds of the next crisis?

2 Young 2 Die and other important matters on yet another Friday afternoon before the shit could hit the fan three day weekend...

Credit markets are sending some worrying signals for risk appetites. Systemically rising spreads in HY, among other charts we highlight, suggest fixed income players are getting the post QE2 joke ahead of stocks.

Bank of America, which services mortgage loans on behalf of investors, may be acting for its own benefit, Knights of Columbus said in a lawsuit filed today in New York State Supreme Court.

What's the hole that is swallowing up the economy? The failure to follow the rule of law. The rule of law is what provides trust in our economy, which is essential for a stable economy. The rule of law is the basis for our social contract. Indeed, it is the basis for our submission to the power of the state.
We are supposed to be a nation of laws, not of men. That's what humanity has fought for ever since we forced the king to sign the Magna Carta.
Indeed, lawlessness - the failure to enforce the rule of law - is dragging the world economy down into the abyss.

It is important to understand that even a much-followed stock like Cisco will suffer from inefficiency (which as a value investor I welcome), due to investors confusing the lousy stock with the company’s fundamental performance. That is how you find high-quality companies at bargain-basement prices.

Goldman sold somewhere around $428,672,680 worth of Apple stock into Apple loving, Apple can do no wrong, Apple has superior user experience, Apple will never face margin compression, Apple has shiny new products on tap, Google Android phones are cheap, I don’t care if the competition is taking over the world, Apple juice sucking, Goldman Conviction Buy List client purchases. Diehard Apple fans, the Goldman bonus pool (Manhattan Motorcars & the Hamptons local Azimmut dealer) simply luvs y'all!