Silver, wine, art, and gold have been touted as the investment alternatives for wealthy investors, many of whom have been pounded in the financial markets. We have certainly seen this in the art market where the recent sale of Munch’s iconic The Scream went for $120 million at auction. That reportedly went to, of course, financial giant [...]
FORTUNE — Jon Corzine is “weighing whether to start a hedge fund,” according to a NY Times article that also says the former MF Global boss is unlikely to face criminal charges for his role in the brokerage firm’s collapse. Somewhere, the ghost of P.T. Barnum must be smiling.
This defies explanation. Maybe he’s trying to [...]
Goldman Sachs (GS) announced an 11% drop in earnings for Q2, although their EPS beat estimates. The hit comes most from declining M&A fees as merger activity has slowed down. While YoY numbers look good, their earnings over Q1 seem to be fading. For example, its trading revenue, a staple of strong revenue for the [...]
The sad reality is that across the economies of much of the West, government finances and the banking sector that has helped worsen them are hopelessly broken. The markets and financial media oscillate between what is fatuously described as ‘risk on’ euphoria, boosted by the delivery or expectation of central bank money [...]
The Daily Capitalist welcomes new contributor John Butler of Atom Capital in London. John has 18 years’ experience in the global financial industry, having worked for European and US investment banks in London, New York and Germany. Prior to founding Amphora Capital he was Managing Director and Head of the Index Strategies [...]
All that can be said about Steve Jobs has been said in all the stories I read this morning about his resignation as CEO of Apple. Undaunted by that, I have several observations.
Until I got an iPhone I will admit to being disdainful of Apple products. I never understood their products’ charisma. They were [...]
All I can say on the downgrade fallout is this from my article of July 30 on “What Would Happen If U.S. Defaults“:
After some days of uncertainty, market drops, rates go up 20 to 50 bps, media hysteria, bargain hunting, market surges, Treasurys stabilize, rates moderate after some weeks as money chases Treasurys again.
I was [...]
John Paulson, the hedge-funder who made a personal fortune of $5 billion in 2010, is now seen as a goat rather than as the “top kid” on the hedge fund block because of recent big losses.
Paulson suffered a huge loss on his firm’s investment in Sino-Forest Corp, a Chinese tree plantation grower. Reports of balance [...]
There’s no typo in the title. “Lote” is a combination of love and hate. Here’s a precis of why that’s my current attitude toward the stock market.
By the ‘stock market’, I mean operating companies as opposed to funds of various sorts, preferred stocks, and other securities that would not qualify for consideration for entry [...]
The Fed’s policies are in Nassim Taleb’s “Extremistan” and may finally be leading us to a Pied Piper inflationary cliff.
In a recent post, I posited that people have gotten so used to the “temporary” emergency measure of (more or less) zero interest rates (ZIRP) that behind the seeming stability of this policy, one should [...]
In the unending search for relative investment value in this overpriced neighborhood we call today’s markets, yours truly has, following some indecision, to sink some real money into certain gold mining stocks. Criteria I have used include standard criteria that would apply to any company, such as rising profits and free cash flow, and preferably [...]