Posts filed under “Financial Press”

What’s Contributing to Market Volatility?

This will be the last mention of media bias for the foreseeable future: The NYT wades into the market action last week, and spots numerous factors contributing to the volatility:

“Worries about the strength of the global recovery and proposals from Washington to clamp down on banks have sent fresh jitters through financial markets, prompting chatter among traders that stocks could be poised for that rare but alarming phenomenon: a correction…

Over three tense days last week, stocks tumbled nearly 5 percent; the Dow posted triple-digit losses on Wednesday, Thursday and Friday, ending the week at its lowest level since November.Some analysts believe the downward momentum may continue. They say the ingredients are there: a spike in volatility (up 55 percent in the three-day period last week, according to one gauge); activism from Washington (the Obama administration’s crusade against risky banks and uncertainty over the future of the Federal Reserve chairman, Ben S. Bernanke); and concerns over the slow pace of a global recovery (worries of a default in Greece and inflation in China).”

One cannot help but point out this is what balanced market reporting — as opposed to the front page laugher we saw in the WSJ last week — looks like.

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click for larger graphic

courtesy of NYT

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Previously:
WSJ Jumps the Shark (January 22, 2010)
http://www.ritholtz.com/blog/2010/01/wsj-jumps-the-shark

The WSJ Responds (January 22, 2010)
http://www.ritholtz.com/blog/2010/01/wsj-another-view/

What Balanced Market Reporting Looks Like (January 23, 2010)
http://www.ritholtz.com/blog/2010/01/what-balanced-market-reporting-looks-like-ft/

Source:
Volatility and Politics Are Feeding Fears of a Market Correction
JAVIER C. HERNANDEZ
NYT, January 24, 2010
http://www.nytimes.com/2010/01/25/business/25markets.html

Category: Financial Press

What Will this Week’s Housing Data Suggest?

We have 3 major Housing releases this week: • Existing Home Sales (1/25 10:00) • S&P Case-Shiller HPI (1/26 9:00) • New Home Sales (1/27 10:00) I expect the trio will show that housing remains weak, that we are not seeing much in the way of any structural improvement in the Real Estate market; but…Read More

Category: Financial Press, Real Estate

The WSJ Responds

After this morning’s WSJ post, I was contacted by several different people from WSJ/Dow Jones I have known over the years. Each of them are people I have read for a long time, and each covers different parts of markets and investing. All 3 of them told me that they have never experienced anyone “messing…Read More

Category: Financial Press

WSJ Jumps the Shark

The politicalization of the WSJ has moved to a new and more risky phase. The paper is now in danger of being a money loser — not for its investors (tho that has already happened), but for those traders who read its content. It used to be that articles on the Market or specific companies…Read More

Category: Financial Press, Politics, Really, really bad calls

Thursday reads

Off to an appointment, but before I head out, I had to share these eye catchers: • Volcker whacks Goldman Sachs (CNN) • Banks’ Size, Trading Would Be Limited in Obama Plan to Reduce Risk-Taking (Bloomberg) • China growth quickens, points to tighter policy (Reuters) • Bad loan twofer: -Banks See a Leveling Off in…Read More

Category: Financial Press

On Financial Advisors Watching TV

I spoke at a conference recently at a major bulge bracket firm. A friend introduced me to a bond manager who runs an enormous amount of money. He is not the typical manager. He said one of the most amusing things I’ve ever heard: “Isn’t it funny when you walk into a investment firm, and…Read More

Category: Financial Press

Wednesday Reading

A few items of note today: • Fed’s Dudley: Banking System Remains Under Strain (Real Time Economics) • Meet the Madoff Minions (MoJo) • Time to cage inflation tiger, say experts (The China Daily) • Bankers’ pay in America: Disconnected • HuffPost Interviews Joseph Stiglitz • WTF?: Apple has been in discussions with Microsoft for…Read More

Category: Financial Press

Tuesday Reads

Some interesting, unusual reads: • How the big banks rigged the market (FT) • Are stock markets still undervalued? (Telegraph)  I don’t know… • New emails show AIG mulled bank payment disclosures (Reuters) • Bad Bet: How Wall Street Lost Managed to Generate Another $100 billion in losses (Marketwatch) • Souring Mortgages, Weak Market Force…Read More

Category: Financial Press

Now What?: Business Journalism After the Meltdown

WHEN: 7 p.m. Tuesday, June 16


The mortgage crisis, which is costing millions their homes and has driven the world to the brink of an economic abyss, has raised difficult questions for the nation’s business press. Why was the public taken by surprise? What kind of reporting was missing and what kind is needed now? What are the lessons for financial journalism and what is its true purpose?

Join the Columbia Journalism Review and the Investigative Fund of The Nation Institute for a panel discussion on the future of business journalism in the wake of the economic meltdown.

Panelists include:

• WILLIAM ACKMAN is a noted investor and founder at Pershing Square Capital Management, L.P.

• BILL GRUESKIN (moderator) is the dean of academic affairs at Columbia’s Graduate School of Journalism and the former Deputy Managing Editor/News for The Wall Street Journal.

• JEFF MADRICK is a regular contributor to The New York Review of Books and a former economics columnist for The New York Times. He is editor of Challenge Magazine, visiting professor of humanities at The Cooper Union, and senior fellow at the Schwartz Center for Economic Policy Analysis, The New School.

• GRETCHEN MORGENSON is assistant business and financial editor and a columnist at The New York Times.

• DEAN STARKMAN is managing editor of The Audit, an online critique of financial journalism of the Columbia Journalism Review, and the author of “Power Problem,” a critique of business coverage in the runup to the meltdown, an article supported by the Investigative Fund of The Nation Institute in the current issue of CJR.


Category: Financial Press, Video

Afternoon Reads

Here are a few of the more interesting things I read today: • Goldman Sachs Still Shines for MBAs Who Ignore ‘Hype’ (Bloomberg) • The danger of the bounce (Economist) • Investors: It’s time to stop buying fairy tales (DJMT) • China Two-fer: -China becomes biggest exporter, edging out Germany (AP) -China Ends U.S.’s Reign…Read More

Category: Financial Press