Andrew Ross Sorkin

Seth Klarman Warns Trump's "Erratic, Overconfidence" Could End Dollar Hegemony

The big picture for investors is this: Trump is high volatility, and investors generally abhor volatility and shun uncertainty... If things go wrong, we could find ourselves at the beginning of a lengthy decline in dollar hegemony, a rapid rise in interest rates and inflation, and global angst...”

Jack Ma Accuses The US Of Spending $14 Trillion On War Instead Of Its People

"It's not that other countries steal jobs from you guys," Alibaba founder Jack Ma said last week. "It's your strategy. Distribute the money and things in a proper way." According to Ma, the US wasted over $14 trillion in fighting wars over the past 30 years rather than investing in infrastructure at home, and said this was the main reason that the US economy is weakening.

A Narrative For Every Season: Stocks, Before And After Trump

Following Donald Trump’s surprise victory and the violent market reactions, many investors are left scratching their heads. The consensus narrative warned that a Trump victory would spell doom for the markets. Days later, the narrative flipped and Trump’s economic policies, all of which were known prior to the election, are deemed beneficial for share prices.

The Elite "Have No Idea" - Society Is Near The Breaking Point

What I find most surprising today is that the insiders and the elite have no idea what is percolating just beneath the surface.  Okay, maybe their arrogance actually produces its own fog, so it should not come as a surprise that they are blinded. They do not look at the calendar, which, if one really looks, says "1788" on it.  Something is close.  Very close.  Society is near the breaking point.

President Obama Explains What The "Fiction-Peddling" BLS Got Wrong - Live Feed

Grab your popcorn. Having proclaimed his greatest achievement during his presidency as "saving the world from another Great Depression," we wonder what President Obama will have to say today when he discusses the economy. Following the decline in corporate profits, a manufacturing sector in recession, an auto industry which is shuttering production, minimum wage state job losses rising, and an equity market that is unable to make new highs, what cynical, skeptical, "fiction-peddlers" will he blame today's dismal jobs data on?

Obama Admits Couldn't "Convince Americans Of Recovery", Bashes 'The Big Short'

Despite his proclamation that he "saved the world from a Great Depression," the fact is that Obama will be the first President ever to not see a single year of 3% GDP growth - but only cynical fiction-peddlers would mention facts at a time like this. In yet more legacy-defending narrative, Obama told The NYTimes today that his biggest failure was being unable to sell his success in putting the American economy back on track to the American people (no matter the actual realities) careful to blame Republicans for slowing growth "by a percentage point or two." And then in a final affront to fact, Obama dismisses the conclusion of "The Big Short" proclaiming that he reined in Wall Street, overhauled the banking system, and made water from wine "the financial system substantially more stable."

"2016 Will Be No Fun" - Doug Kass Unveils 15 Surprises For The Year Ahead

My overriding theme and the central drama for the coming year is that unexpected events can take on greater importance as the Federal Reserve ends its near-decade-long Zero Interest Rate Policy. Consensus premises and forecasts will likely fall flat, in a rather spectacular manner. The low-conviction and directionless market that we saw in 2015 could become a no-conviction and very-much-directed market (i.e. one that's directed lower) in 2016. There will be no peace on earth in 2016, and our markets could lose a cushion of protection as valuations contract. (Just as "malinvestment" represented a key theme this year, we expect a compression of price-to-earnings ratios to serve as a big market driver in 2016.) In other words, we don't think 2016 will be fun.

In Ironic Twist, Stock Crash Leads To First CNBC Ratings Increase In Years

Ironic, because it is precisely CNBC's constant cheerleading of what little viewers it had left that pushed the market to such nosebleed levels that on August 24 it suffered its second flash crash in just five years. It is even more ironic, because instead of a rational, objective coverage of the newsflow, the constant stream of cherry-picked, double seasonally adjusted good news is precisely why viewers had left the Comcast cable station in droves realizing the disconnect between the economy and stocks is simply too gargantuan to stomach, and that they are being lied to.  As a result, it wasn't until the much dreaded market crash that viewers finally came back. At least some of them.