Citigroup Rises While Bank America Wallows
"Vikram Pandit’s last day at Citigroup swung from celebratory to devastating in a matter of minutes. Having fielded congratulatory e-mails about the earnings report in the morning that suggested the...
View ArticleDark Knight Capital... Again
Wondering why something appears very off in the market? Blame Knight Capital ... Again. Is second time the charm to finally take out the competition? KCG stock crashing.Self-help?Dear Clients: Due to a...
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Merrill Lynch: "Greek Risk Is Back"
You read about it here first (here and here). Now it is time for the sellside (whose products your soft dollars so generously fund) to wake up to what is happening next week.From Bank of Countrywide...
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Monday Market Uncertainty – Waiting to See Who Runs America
Monday Market Uncertainty – Waiting to See Who Runs AmericaCourtesy of Phil's Stock WorldToday doesn't matter.Tomorrow won't matter either. Nothing will matter much, trading-wise, until we know what...
View ArticleGuest Post: Real Danger Of “Obamacare”: Insurance Company Takeover Of Health...
Via Nomi Prins of NomiPrins.com,Election rhetoric shuns the big picture in favor of the bigger platitude. Now that The Show is over, we are left with the equivalent of a Sunday morning hangover...
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What Really Happened When Lehman Failed... and Why a Spanish Default Will Be...
Countless pages have been written about why Lehman caused the system to almost implode. However, the reality is that Lehman nearly took down the entire financial system for two reasons: Lehman’s $155...
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Austrian Parliament Hears 80% Of Austrian Gold Bullion Reserves In London
From GoldCore Gold BullionAustrian Parliament Hears 80% Of Austrian Gold Bullion Reserves In LondonToday’s AM fix was USD 1,729.75, EUR 1,344.23, and GBP 1,084.35 per ounce. Yesterday’s AM fix was USD...
View ArticleBehind the Scenes, Germany is Already Preparing For a Grexit
The US Presidential election is over and the world has woken up from the political rhetoric and propaganda to realize that the problems it faced before November 6 are still in place. Indeed, one could...
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Hidden Dangers in Gold
Hidden Dangers in GoldBased on an article by Dr. Paul Price in the Dec. 4, 12 issue of the Market Shadows newsletter: A Failure to Communicate: Numbers, Rates & Lies Why isn't Paul currently buying...
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"As Part Of Our Ongoing Effort To Protect Bank Of America, Zero Hedge Is...
We couldn't have said it better: "Bank of America blocks users from accessing websites that present certain risks to the bank."Let's see, maybe this will get Zero Hedge unblocked: "Just buy BAC stock....
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A Potentially Nasty Snapshot Of Risk Resulting In Another Trillion Of...
While perusing the news today, I came across this most interesting article in Bloomberg, Swaps ‘Armageddon’ Lingers as New Rules Concentrate Risk'. Before we delve into it, I want to review how...
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2012 Year In Review - Free Markets, Rule of Law, And Other Urban Legends
Submitted by Dave Collum via Peak Prosperity,BackgroundI was just trying to figure it all out.~ Michael Burry, hedge fund managerEvery December, I write a Year in Review that has now found a home at...
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Big Picture Thinkers And Silver
Recently I did a radio interview with longtime friend Al Korelin and blurted out that anyone who actively followed the gold/silver markets and did not appreciate how manipulated they are, was a moron....
View ArticleFrontrunning: January 7
Secret and Lies of the Bailout (Rolling Stone)Banks Win 4-Year Delay as Basel Liquidity Rule Loosened (BBG)Hedge Funds Squeezed With Shorts Beating S&P 500 (BBG)Bankruptcy regime for nations urged...
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AIG Has Every Right & Responsibility To Sue The US For Excessive Interest...
Maurice Greenberg, the ousted CEO, Chairman, and founder of AIG who remains a major investor in the company, filed suit in 2011 on behalf of fellow shareholders against the government. He has urged...
View ArticleWe Are Still Going Sideways
Here are slides of my updated/revised presentation on sideways markets. Over the last three months I’ve given talks on sideways markets three times, to CFA Societies in South Florida, New Zealand,...
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What Really Goes On In China
Authored by Edward Chancellor and Mike Monnelly of GMO,Feeding the Dragon: Why China's Credit System Looks VulnerablePrologueFor GMO's asset allocation team, valuations are our first protection against...
View ArticleIceCap Asset Management: "The Queen"
From IceCap Asset Management, January 2013The QueenShe adores hats. She is always very polite and respectful of others. She waves to everyone, and consistently avoids conflict. She is a lady; she is...
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Italian Regulator Responds To Plunging Saipem Stock: Bans Shorting
Yesterday the stock of Italian offshore oil services company Saipem SpA imploded nearly 40% after the company said it expected 2013 net profits to be, oh, just around 50% below current consensus. In...
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Delta Airlines Got an Oil Refinery: The Math Does Not Work
By EconMattersExxon Mobil Corp. (XOM), the world’s biggest energy company by market cap, said its 4Q profit rose to a five-year high boosted by its refining arm from growing supplies of cheap U.S. oil....
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