Posts filed under “Media”

The Return of Glass Steagall ?

Senators Elizabeth Warren and John McCain are introducing new legislation to “take the financial industry back to an era when there was a strict divide between traditional banking and speculative activities.”

I have a quote in the column:

“The act also kept banks that use federal deposit insurance out of potentially volatile Wall Street activities, like trading. As a result, problems at investment banks were less likely to infect regulated banks. Losses at the Wall Street operations of Citigroup and Bank of America weighed heavily on those banks during the 2008 crisis.

For about 70 years, Glass-Steagall managed to keep the riskier, more damaging part of Wall Street away from what should be the boring, straightforward side of finance,” Barry L. Ritholtz, chief executive of FusionIQ, an asset management and research firm, said. “It was the height of stupidity repealing Glass-Steagall.”

The argument I made is summed up in this one paragraph:

“During the era of Glass-Steagall, there were no systemic banking crises like the one that occurred in 2008. The restrictions the bill put on the financial sector did not seem to do much wider harm. According to analysis of government gross domestic product statistics, the American economy grew an average of 4 percent a year from 1933 until 1999, when Glass-Steagall was in effect. Even some who championed repealing the act, like the former Citigroup chairman Sanford I. Weill, have since called for the breakup of the bank behemoths.”

As a more recent example, the 1987 crash never spilled over into the banking system. We had Glass Steagall to thank for that firebreak.

 

 

Source:
Senators Introduce Bill to Separate Trading Activities From Big Banks
PETER EAVIS
NYT, July 11, 2013
http://dealbook.nytimes.com/2013/07/11/senators-introduce-bill-to-separate-trading-activities-from-big-banks/

 

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Category: Bailouts, Media, Regulation

Media Appearance: Bloomberg TV with Sara Eisen

I will be guest hosting with the lovely Trish Regan at Bloomberg TV from 3:00 pm to 4:00 pm on Street Smart. We will talk Barnes & Noble, NYSE take over or LIBOR, and the Bond Outflows. Should be lots of fun — Check it out at their live streamer on TV.  

Category: Media

Unsexy Finance vs Cat Food Tacos

Yeah, this time it was my fault — in the midst of a long conversation about taking the emotions out of investing and making finance boring, I dropped a line about cat food tacos. So once again I am in the click bait headline machinery.

Actually, the heart of the advice was from the asset allocation articles in the WaPo (here and here) essentially “ Invest Boringly.”

It looks something like this:

Have a plan.
Execute it faithfully.
Be diversified.
Contribute regularly.
Max out tax-deferred accounts.
Be an asset allocator.
Think long-term.

Not exactly radical, but “Cat Food Tacos” will generate a lot more clicks than “invest boringly.”

Here’s the video:

click to start video
cat food tacos

 

Source: Ritholtz: You Can “Eat Cat Food Tacos In Retirement,” Or You Can Do This… (Yahoo Finance)

Category: Asset Allocation, Investing, Media, Video

Gold Bouncing Towards $1400 Creates Selling Opportunity

This discussion is about probabilities and investor psychology — not predictions.

 

Click for video
Video

Source: Yahoo Finance

 

 

Note: I understand getting heard above the clutter and attracting clicks and all, but this headline is rather different than what we actually discuss on the video above:

yahoo gold

Category: Gold & Precious Metals, Media, Video

Taper Tantrum Reaction

 

click for video
taper yahoo finance
Source: Yahoo Finance

 

 

 

Category: Media, Video

My BBRG Page!

  Hey! I just discovered I have my own Bloomberg page!     How crazy cool is that?  

Category: Markets, Media

Investing in the New Normal

Click for video

mauldin panel
Source: Mauldin Economics

 

Click for video
Graphic

Source: Mauldin Economics

Category: Investing, Media, Video

On Meredith & Monica

@TBPInvictus It was, I guess, a rude awakening for me when I realized, many years ago, that most of the talking heads I saw on TV had no idea what the hell they were talking about. The sooner one learns that lesson, the better. So, take it from me (and BR, who says the same…Read More

Category: Economy, Employment, Financial Press, Media, Really, really bad calls

Radio Appearance: SiriusXM

Last week, I did a full run of media on Thursday — Bloomberg TV in the AM, then satellite radio, then a panel discussion up at Columbia. Here is the (NSFW) radio conversation I had on StandUP with Pete Dominick — who is always a boatload of fun trying to be serious. Its a mix…Read More

Category: Media

Media Appearance Bloomberg TV (6:00-7:00am)

Bloomberg Surveillance   I am going to be on Bloomberg TV/Radio this morning with Tom Keene and Sara Eisen from 6:00 – 7:00am. Also scheduled to be on is Drew Matus of UBS, Elliot Weissbluth of HighTower Advisors, and Brad Adgate of Horizon Media (I have to add Brad to my list of people who…Read More

Category: Media