Tyler Durden's picture

Frontrunning: January 8

  • Here comes JPM's next multibillion legal reserve: Federal Probe Targets Banks Over Bonds (WSJ)
  • Mulally Bows Out of Microsoft CEO Race, Staying at Ford (BBG)
  • United States sending more troops and tanks to South Korea (Reuters)
  • Eurozone unemployment sticks at record high (FT)
  • China-Japan 'Voldemort' attacks up ante in propaganda war (Reuters)
  • Alternative Lenders Peddle Pricey Commercial Loans (WSJ)
  • John McAfee: glad Intel dropping name from security software (Reuters)
  • Jobless Benefits Bill Stays Alive Amid Talks on Offsets (BBG)
  • Chicago Colder Than South Pole as Frigid Air Clamps Down (BBG)
  • Former Miss Venezuela shot dead in attempted robbery (Reuters)
rcwhalen's picture

Are Large Cap Banks Ready to "Break Out?"

Bottom line for financials is that 2014 is looking to be a tough year, even if the Sell Side wants to believe that growing earnings is still possible on flat revenue

Tyler Durden's picture

Frontrunning: January 2

  • Threatening snowstorm may be early test for N.Y. Mayor de Blasio (Reuters), U.S. Northeast Threatened With Blizzard, Travel Delays (BBG)
  • Scarred U.S. consumers a hard sell for traditional retail (Reuters)
  • Edward Snowden, Whistle-Blower (NYT)
  • A Few Brave Investors Scored Huge, Market-Beating Wins (WSJ)
  • Fiat gets full control of Chrysler for $4.35 billion (Reuters)
  • Billions Vanish in Kazakh Banking Scandal (WSJ)
  • SAC’s Cohen Focus of Trial as Martoma Rebuffs U.S. (BBG)
  • World's first state-licensed marijuana retailers open doors in Colorado (Reuters)
  • Hyundai, Kia face fading growth as currency tides buoy Japan rivals (Reuters)
  • Bond investors braced for new year shock (FT)
  • Putin vows total destruction of 'terrorists' after bombings (AFP)
Tyler Durden's picture

A Look Inside The "New Normal" McMansion

And they're back:

2,277 sq.ft. - Median new-home size in 2007
2,306 sq. ft. - Median new-home size in 2012

Just as that crowning achievement of the last housing bubble, the McMansions, have once again returned with the second and final return of the Fed-blown housing bubble, the Bluths picked a perfect time to also come bac on the scene. But instead of analyzing the reasons for just why the US economy now desperately needs to jump from bubble to bubble, we will simply constrain ourselves to discussing... interior decoration. The infographic below from BusinessWeek shows how times, and tastes, how to decorate one's McMansion have changed in the past few years.

Tyler Durden's picture

Frontrunning: November 21

  • When it fails, do more of it - Bank of Japan hints at extending ultra-loose monetary policy (FT)
  • PBOC Says No Longer in China’s Interest to Increase Reserves (BBG)
  • Fed casts about for endgame on easy-money policy  (Hilsenrath)
  • Big trucks still rule Detroit in energy-conscious era (Reuters)
  • Debt Limit Rise May Not Be Needed Until June, CBO Says (BBG)
  • Some Insurance Regulators Turn Down White House Invitation (WSJ)
  • Say Goodbye to the Car Salesman (WSJ)
  • U.S. drone kills senior militant in Pakistani seminary (Reuters)
  • French business sector contracts sharply (FT)
  • How Germany's taxman used stolen data to squeeze Switzerland (Reuters)
  • Fed casts about for endgame on easy-money policy (WSJ)
  • France, Italy call for full-time Eurogroup chief (Reuters)
Tyler Durden's picture

Frontrunning: November 20

  • JPMorgan $13 Billion Mortgage Deal Seen as Lawsuit Shield (BBG)
  • J.P. Morgan Is Haunted by a 2006 Decision on Mortgages (WSJ)
  • World powers, Iran in new attempt to reach nuclear deal (Reuters)
  • Keystone Foes Seek to Thwart Oil Sands Exports by Rail (BBG) - mostly Warren Buffet?
  • How Would Fed Deal With Debt Ceiling Crisis? Look to Minutes for Clues  (Hilsenrath)
  • Anything to prevent the loss of prop trading: 'Volcker Rule' Faces New Hurdles (WSJ)
  • BOE Sees Case for Keeping Record-Low Rate Beyond 7% Jobless (BBG)
  • Obama Backs Piecemeal Immigration Overhaul (WSJ)
  • Abenomics Seen Cutting Japan Bad-Loan Costs to 2006 Low (BBG)
Tyler Durden's picture

Frontrunning: November 15

  • China to Ease One-Child Policy (WSJ), China announces major economic and social reforms (Reuters)
  • Consumers line up for launch of PlayStation 4 (USAToday)
  • Trust frays between Obama, Democrats (Politico)
  • Yellen Stands by Fed Strategy  (Hilsenrath)
  • Hero to zero? Philippine president feels typhoon backlash (Reuters)
  • Brussels warns Spain and Italy on budgets (FT)
  • Moody’s Downgrades Four U.S. Banks on Federal Support Review  (BBG)
  • CIA's Financial Spying Bags Data on Americans (WSJ)
  • Germany Digs In Against Risk Sharing in EU Bank-Failure Plan (BBG)
  • Bill Gates wants Norway's $800 billion fund to spend more in Africa, Asia (RTRS)
Tyler Durden's picture

Complete Hedge Fund Q3 13F Holdings And Position Changes Summary

Here is a summary of the key stock additions, sales, initiations and liquidations conducted by the most prominent US hedge funds in the third quarter.

Tyler Durden's picture

Frontrunning: November 13

  • Desperate Philippine typhoon survivors loot, dig up water pipes (Reuters)
  • Fading Japanese market momentum frustrates investors (FT)
  • China's meager aid to the Philippines could dent its image (Reuters)
  • Headline du jour: Granted 'decisive' role, Chinese markets decide to slide (Reuters)
  • Central Banks Risk Asset Bubbles in Battle With Deflation Danger (BBG)
  • Navy Ship Plan Faces Pentagon Budget Cutters (WSJ)
  • Investors pitch to take over much of Fannie and Freddie (FT)
  • To expand Khamenei’s grip on the economy, Iran stretched its laws (Reuters)
  • Short sellers bet that gunmaker shares are no long shot (FT)
  • Deflation threat in Europe may prompt investment rethink (Reuters)
Tyler Durden's picture

Frontrunning: November 7

  • Twitter's IPO to Make Market Debut (WSJ); Twitter Raises $1.82 Billion, Pricier Value Than Facebook (BBG)
  • Worried Senators Press Obama on Health Law (WSJ)
  • Greenspan Says Yellen Was His Guide to Economics Research at Fed (BBG)
  • European Central Bank seen holding rates despite inflation tumble (Reuters)
  • Wall St. Bonuses Over All Are Predicted to Rise 5 to 10% (NYT)
  • Cautious consumers seen curbing U.S. economic growth (Reuters)
  • China Grants U.S. Investors Indirect Access to Its Stock Markets (WSJ)
  • Higher Tax Rates Give Top U.S. Earners Year-End Headaches (BBG)
  • Iran Loses Nuclear Leverage as World Ignores Export Drop (BBG)
  • NYPD Commissioner Ray Kelly in the running for JPMorgan job (Post)
Tyler Durden's picture

Frontrunning: October 18

  • Republican Civil War Erupts: Business Groups v. Tea Party (BBG)
  • Budget fight leaves Boehner 'damaged' but still standing (Reuters)
  • Madoff Was Like a God, Wizard of Oz, Lawyers Tell Jury (BBG) - just like Bernanke
  • Republicans press U.S. officials over Obamacare snags (Reuters)
  • Brilliant: Fed Unlikely to Trim Bond Buying in October (Hilsenrath)
  • More brilliant: Fed could taper as early as December (FT)
  • Russia Roofing Billionaires Seen Among Country’s Youngest (BBG)
  • Ford's Mulally won't dismiss Boeing, Microsoft speculation (Reuters)
  • China reverses first-half slowdown (FT)
  • NY Fed’s Fired Goldman Examiner Makes Weird Case (BBG)
Tyler Durden's picture

Bank Of America Misses Despite Surge In Reserve Releases Amounting To Over Quarter Of Q3 "Earnings"

On the surface, the latest Q3 bank numbers to come out of Bank of America today, were not quite as bad as those previously reported by the other TBTFs, namely JPM, Wells and Citi. At a (massively adjuste4d) EPS of $0.20, this was just 1 cent below the expected $0.21, even as net revenue of $21.74 billion missed expectations of $21.95 billion. So far so good. At least so good until one realizes that of the $5.1 billion in pretax income, some 1.4 billion, or over a quarter, was from the usual accounting magic well of gimmicks: loan loss reserve releases! In fact, the $1.391 billion in reserve reduction driven by $1.7 billion in charge offs offset by a tiny $0.3 billion in provisions, was the highest reserve release in the past year, only lower than last Q3's $2.3 billion, when the bank - just like today - was in desperate need of any source of fake earnings. Why? Because the bank's loan origination group, just like all other banks', cratered, and saw non-interest income in its real estate services division implode by $1.5 billion to just $844 million. So much for whatever housing recovery the rose-colored glasses ones had envisioned...

Tyler Durden's picture

Frontrunning: October 8

  • Hilsenrath: Tense Negotiations Inside the Fed Produced Muddled Signals to Markets (WSJ)
  • Biggest US Foreign Creditors Show Concern on Default Risk (BBG)
  • Shutdown Costs at $1.6 Billion With $160 Million Each Day (BBG)
  • What default? Republicans downplay impact of U.S. debt limit (Reuters)
  • Top Bankers Warn on U.S. Debt Proposal (WSJ)
  • India to stick with austerity despite looming election (Reuters)
  • Japan's Current-Account Surplus Plunges (WSJ)
  • Amazon Wins Ruling for $600 Million CIA Cloud Contract (BBG)
  • German Factory Orders Unexpectedly Fall on Weak Recovery (BBG)
  • Britain's Higgs, Belgium's Englert win 2013 physics Nobel prize (Reuters)
  • Supreme Owner Made a Billionaire Feeding U.S. War Machine (BBG)
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