• rcwhalen
    11/25/2015 - 08:58
    "This is legal?" Stephanie Ruhle on CDS after watching "The Big Short" (Bloomberg TV) 

Charlie Munger

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The Buffet Backlash: Anger Builds At "Hypocrite" Billionaire Hiding Behind "Folksy" Facade

In the wake of Bill Ackman's verbal jousting with Charile Munger, WSJ has taken a look at what many consider to be the myth behind Warren Buffett's "folksy" demeanor. As it turns out, it's best to do as Buffett does, not as he says.

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Billionaire Bitch Fight: Ackman Slams Munger, Buffett For Profiting Off Fat Americans

"I have a problem with Berkshire’s ownership of Coke,” Ackman told an audience of about 200 people. “Coca-Cola has probably done more to create obesity, diabetes on a global basis than any other company in the world. "You have some of the best marketing in the world and a lot of happy skinny people drinking it in the advertising."

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Goldman Downgrades Valeant On "Lack Of Confidence" After Charlie Munger Slams Company

A bigger problem for Valeant, however, emerged today when none other than Warren Buffett's right hand man Charlie Munger in an interview with Bloomberg "tore anew into the besieged drug company, calling its practice of acquiring rights to treatments and boosting prices legal but “deeply immoral” and “similar to the worst abuses in for-profit education.”  And to prove just how much clout Munger does indeed have, moments ago the most important Wall Street bank, Goldman Sachs, downgraded Valeant to Neutral from Buy, cutting its share price target from $180 to $122.

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From Bezzle To Bummer - The Mirage Of "Psychic" Wealth

The market is prone to temporary fits of shared enthusiasm – for emerging-market debt, for Internet stocks, for residential mortgage-backed securities, for Greek government debt. Traders need not wait to see when or whether the profits materialize. IBGYBG, they say – I’ll be gone, you’ll be gone. There are numerous routes to bezzle and febezzle...  traders borrowed money from the future. And then the future came, as it always does, turning the bezzle into a bummer.

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"Some People Just Don't Fit In The Economy" Buffett Explains: "We'll Send Them Off To Afghanistan"

Not to be outdone by his partner Charlie Munger (who offended many with his comments that "gold is a great thing to sew onto your garments if you're a Jewish family in Vienna in 1939,"), Berkshire Hathaway's Warren Buffett - having already taken on Europe, comparing Greece to a "dog peeing on the carpet" of Europe, suggesting Germany stop "rewarding behavior you want to get rid of" - takes aim at the military. Speaking on Bloomberg TV, the octagenerian oracle of offense just unfriended every American veteran...

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Gold, Stocks, Oil... Choose One

Would you rather have one “Share” of the S&P 500 at $2,124, or 41 barrels of crude oil, or 1.86 ounces of gold? Yes, they are all worth the same amount at the moment, but the price relationship between the three has shifted over the decades.

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Beware Of Greeks Bearing Referenda

It appears the sovereign peoples of Europe would not go gently into a Federal States of Europe night. Investors need to prepare for the inevitable political solution: referendums across Europe on the constitution of the Federal States of Europe needed to sustain the Euro. Events this weekend will trigger the search for the democratic legitimacy for the single currency and the centralised constitution it requires... or the demise of the unelected 'king Juncker' and 'queen Lagarde' of the Federal States of Europe.

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How to Enhance Your Circle of Competence

A simple method that can boost your chances of investment (or any other) success

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How To "Measure" Risk

While investor behavior hasn't sunk to the depths seen just before the crisis, Oaktree Capital's Howard marks warns, in many ways it has entered the zone of imprudence. "Today I feel it's important to pay more attention to loss prevention than to the pursuit of gain... Although I have no idea what could make the day of reckoning come sooner rather than later, I don’t think it’s too early to take today’s carefree market conditions into consideration. What I do know is that those conditions are creating a degree of risk for which there is no commensurate risk premium."

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Charlie Munger Compares Greece To a "Frivolous, Drunken Brother-In-Law"

Having previously effused over gold and holocaust jews, bailouts, and handouts, Buffett & Munger took aim at Europe, well more implicitly Greece, during today's annual octagenerian-fest.

Munger on Euro strains: You shouldn't create a partnership with your drunken, shiftless brother in law.
And Buffett's (implicit Grexit) retort: the euro can and probably should survive but it will take some changes...

As he previously said, Germany must stop Greek dog peeing on its rug.

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Rising Police Aggression A Telling Indicator Of Our Societal Decline

The lines have been drawn in many police departments: it’s us vs. them. Trust in many departments has been utterly shattered within some communities because the police hold themselves to a different standard than they do the populace.  But the recent cases of police brutality are simply a symptom of a much larger problem. Society in the US is breaking down, civility has been lost, and the country is rapidly becoming uncivilized. This extends within and across all of the most important institutions.

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Portrait Of American Oligarchy: The Very Troubling Income & Wealth Trends Since 1989

"Not everything that is faced can be changed; but nothing can be changed until it is faced." - James Baldwin

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