Posts filed under “Video”

Whitney: Wall Street’s Future headaches

Weighing in on Bank of America’s latest deal and the future of Wall Street, with Meredith Whitney, Oppenheimer & Co.


click for video

whitney

 

Category: Corporate Management, Credit, Derivatives, Video

Roubini: U.S. Financial Industry Facing ‘Disaster’

Nouriel Roubini, an economics professor at New York University, talks about the turmoil in financial markets and outlook for the sale of Lehman Brothers HoldingsL


click for video

Nouriel

Category: Bailouts, Corporate Management, Credit, Video

Roubini: U.S. Financial Industry Facing ‘Disaster’

Nouriel Roubini, an economics professor at New York University, talks about the turmoil in financial markets and outlook for the sale of Lehman Brothers HoldingsL


click for video

Nouriel

Category: Bailouts, Corporate Management, Credit, Video

Cramer Calls (Yet Another) Bottom in Housing

Cramer080915_560
This week, one of my fellow LIRR commuters handed me a New York
Magazine
, and asked me my opinion about an article by Jim Cramer on a bottoming in Housing sector. The articles title?  On June 30, 2009, Buy an Apartment.

Gee, that seemed rather specific, I wonder what’s in the article? I thought.

I
practically spit up my coffee when I read the first paragraph:

"For
more than a year, I’ve been a huge bear on housing. From the moment the
credit-crisis storm began to form, I’ve been shouting in my usual
unhinged way about just how bad the devastation would be, and carrying
on about how anyone who bought a home in this environment would lose
money immediately. At various points along the way, my house-hating
judgment has been questioned, but I’d say I’ve been vindicated by the
relentless decline in home values we’ve seen, the worst since the Great
Depression. Even here, in our so-called real-estate-superstar city,
prices may not have fallen, but the rate of acceleration has started to
soften."

That paragraph struck me as particularly
disingenuous. Perhaps Cramer’s long housing bias had spanked him enough times that he finally flipped bearish, but, damn, that was only after
getting the credit bubble and housing collapse, and especially, repeated bottom calls on the Home Builders,  very, very wrong for a long, long time.

Now, I don’t know when Cramer flipped bearish on Housing — I do not watch
the show regularly, nor do I read him at TSCM — but he
certainly was bullish in 2005, 2006 and early 2007. Maybe he flipped bearish some time in the past year. I don’t know.

But here’s the funny thing: I get tons of emails about James Cramer, asking me "Why don’t you focus on Jim ever?" Why doesn’t TBP cover him more?

Fair question. For a couple of reasons, making Jim a focus of the blog doesn’t interest me. I’ve criticized him on many an occasion, but being his stalker — ala Luskin on Dr. Paul Krugman — simply isn’t my bag.

Why? First, I respect Cramer’s accomplishments with TheStreet.com. Forget the TV pundit you see today, not many people had the foresight in 1995 to recognize that web based business content was going to be big. But Cramer did, and that sort of foresight and business acumen earns my respect.

Second, being Cramer’s Jiminy Cricket is not how I want to define myself. I have my own opinions, beliefs, and perspectives. I’ve carved out a nice little corner of the internet for the Big Picture. And if I make Cramer the focus of this blog, I give up my own identity. Besides, he retired from finance years ago, and now works in entertainment industry.

But third, and perhaps most of all, I don’t need to. Why? Because Don Harrold already does:

Jim Cramer Calls a Bottom in Housing – HERE’S THE TRUTH (

>

Jim Cramer Called "The Bottom"? 1 Out of 10 Ain’t Bad!  (

>

Sources:
On June 30, 2009, Buy an Apartment
Our resident financial expert calls the end of the housing-market free fall—to the day.
James J. Cramer
NYMag, Sep 7, 2008
http://nymag.com/news/businessfinance/bottomline/49938/ 

Don Harrold
http://www.donharrold.net/

Don Harrold on YouTube
http://www.youtube.com/user/donharrold

Category: Markets, Real Estate, Really, really bad calls, Video

Jim Rogers: “American Socialism for the Rich”

"America is more communist than China is right now. You can see that
this is welfare of the rich, it is socialism for the rich… it’s just
bailing out financial institutions," Rogers said.

>

See also:  Welcome to the U.S.S.R. (United States Socialist Republic)  Citigroup  (PDF)

Read More

Category: Bailouts, Credit, Video

Jim Rogers: “American Socialism for the Rich”

"America is more communist than China is right now. You can see that
this is welfare of the rich, it is socialism for the rich… it’s just
bailing out financial institutions," Rogers said.

>

See also:  Welcome to the U.S.S.R. (United States Socialist Republic)  Citigroup  (PDF)

Read More

Category: Bailouts, Credit, Video

Hennecke: “We expect a depression in the United States”

"We expect a depression in the United States. We expect a depression, very possibly, also in Europe." –Martin Hennecke

>
click for video
Martin_hennecke

Martin Hennecke

Excerpt:

The end result of the global economic slowdown may be the U.S. announcing national bankruptcy as the government cannot afford the bailouts that it promised and the market will not bail out the government, Martin Hennecke, senior manager of private clients at Tyche, told CNBC on Thursday.

"We expect a depression in the United States. We expect a depression, very possibly, also in Europe," Hennecke said on "Worldwide Exchange."

The estimated $300 billion cost of the Fannie/Freddie bailout will probably be considered as a loss that the government will have to take, therefore passing it on to taxpayers, he explained.

"We already have $3 trillion of debt, as far as the U.S. government is concerned. These debt figures across the U.S. economy are rising very sharply."

When the government can no longer pass the United States’ "immense debt" on to taxpayers, it will turn to the holders of U.S. dollars, leading to the eventual downfall of the currency, Hennecke said.

>

Source:
Bailouts Will Push US into Depression: Manager   
CNBC.com | 11 Sep 2008 | 09:11 AM ET   
http://www.cnbc.com/id/26656750/site/14081545/

Category: Economy, Video

Hennecke: “We expect a depression in the United States”

"We expect a depression in the United States. We expect a depression, very possibly, also in Europe." –Martin Hennecke

>
click for video
Martin_hennecke

Martin Hennecke

Excerpt:

The end result of the global economic slowdown may be the U.S. announcing national bankruptcy as the government cannot afford the bailouts that it promised and the market will not bail out the government, Martin Hennecke, senior manager of private clients at Tyche, told CNBC on Thursday.

"We expect a depression in the United States. We expect a depression, very possibly, also in Europe," Hennecke said on "Worldwide Exchange."

The estimated $300 billion cost of the Fannie/Freddie bailout will probably be considered as a loss that the government will have to take, therefore passing it on to taxpayers, he explained.

"We already have $3 trillion of debt, as far as the U.S. government is concerned. These debt figures across the U.S. economy are rising very sharply."

When the government can no longer pass the United States’ "immense debt" on to taxpayers, it will turn to the holders of U.S. dollars, leading to the eventual downfall of the currency, Hennecke said.

>

Source:
Bailouts Will Push US into Depression: Manager   
CNBC.com | 11 Sep 2008 | 09:11 AM ET   
http://www.cnbc.com/id/26656750/site/14081545/

Category: Economy, Video

Breakouts/Breakdowns on Fast Money (9/10/08)

Here is yesterday’s featured segment, Breakouts & Breakdowns on Fast Money with Dylan Ratigan.

Here is last night’s episode:
Fast_money_bb

Breakouts & Breakdowns:  An outlook on PNY and NEM, with the Fast Money traders

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The name Fusion is supposed reflect
that we use both technical and fundamental data points.

The
metrics we track are Trend (short, medium, and long term), Money
Flow
(stock and group), Short interest (relative to
float), Institutional Ownership, (we crunch it ourselves between official
quarterly releases),
Earnings Trend (are they still ramping, plateau-ing,
reversing or falling), and
Forecast Earnings Surprise. 

The last
metric is quite fascinating. we take the top analysts on any name in terms of
their recent earnings forecast record. When they are an outlier against the rest
of the analyst community, we often — about ~68% of the time — see an earnigns
surprise. I.E., when the top guy is bearish, and the rest of the dead fish are
bullish, you tend to see an downside surprise (and vice verse). Think Bove and
Whitney versus the geniuses who downgraded Lehman today.
When we get towards erarnings season, I’ll pull a few
names. Its pretty wild stuff. 
 

Our projected holding period is 3
months, plus or minus — but we hold longer if working (i.e., we are still short AIG from last year),
and always use stop losses when they are not working (i.e., covered the short in RIMM for a 5% hit).

Category: Quantitative, Trading, Video

One Sees Signs of U.S. Recovery by Year End, One Doesn’t: Video

That Bloomberg appearance I did on Friday finally showed up online. Its mostly a macro discussion on the economy and unemployment.

Note this was prior to any of the Fannie/Freddie news.

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click for Video

Bloomberg_br_video

Source: Bloomberg

Barry Ritholtz, chief executive officer of Fusion IQ, and Bruce Kasman, chief economist at JPMorgan Chase & Co., talk with Bloomberg’s Kathleen Hays about the performance of the U.S. stock market, the August employment report released today and outlook for the economy. The country lost 84,000 jobs last month, more than forecast and the unemployment rate climbed to a five-year high of 6.1 percent, a sign that the economic slowdown is worsening two months before Americans elect their next president.

00:00 Ritholtz: equity market performance
01:02 Kasman: jobs report; economic outlook
02:44 Ritholtz: impact of economic growth on stocks
04:19 Kasman: credit markets; inflation outlook
06:07 Ritholtz: factors that could affect stocks

Running time 07:26

Category: Media, Video