Posts filed under “Video”

CREDIT CRISIS: Scholes vs. Paulson

Myron Scholes, chairman of Platinum Grove Asset Management LP and
1997 winner of the Nobel Prize in economics, said the worst of the
crisis in credit markets may not be over.

"From my perspective, I think that we don’t know if the storm has
passed or if we are still in the eye of the storm. Are there other shoes to
drop and new events or new shocks that will come to the fore?’ In my view, this is probably as bad or worse than the 1989-1990 crisis
and may even rival the worst crisis we’ve seen since the end of the
Second World War,” Scholes said.

click for audio
Audio_scholes

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U.S. Treasury Secretary Henry Paulson said financial market conditions have improved to the point that they will be influenced more by economic forces such as housing than by the credit crisis.

"I expect that financial markets will be driven less by the recent turmoil and more by broader economic conditions, and specifically, by the recovery of the housing sector,” Paulson said in a speech in Washington. He reiterated his view that “we are closer to the end of the market turmoil than the beginning.”

click for video

Paulson_b

Sources:

Scholes, Nobel Laureate, Says Credit Crisis May Not Be Over
Vivien Lou Chen and Thomas R. Keene
Bloomberg, May 16 (2008
http://www.bloomberg.com/apps/news?pid=20601109&sid=a8AZRX5LUMYE&

Paulson Says Capital Markets Show ‘Signs of Progress’
John Brinsley
Bloomberg, May 16 2008
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aGeolnDH4JNc

Category: Credit, Derivatives, Video

Paul Volcker on the Financial Crisis

Sunday afternoon video:

Paul Volcker describes the financial crisis to the Joint Economic Committee of Congress on May 14, 2008 – 7 1/2 min excerpt.

Paul Volcker on the Financial Crisis

The Federal Reserve has taken extraordinary emergency measures in response to the current financial turmoil. Tonight, I spoke with Paul Volcker, former Fed chairman and one of the most respected figures on the economy, in an exclusive interview. Here is what he had to say about the collapse of Bear Stearns and the role the central bank has played

Volcker on Charlie Rose

Category: Credit, Federal Reserve, Video

Life = Risk

Don’t be put off achieving your destiny, even if you have experienced failure in your life. This video mentions well known people who had failed, but kept pressing on until they became successful.

Category: Psychology, Video

Friday Evening Jazz: Marvin Gaye

Marvin_gaye_in_1973 Last week, while randomly channel surfing, I stumbled across a fantastic PBS documentary in the American Masters series, titled Marvin Gaye: What’s Going On.

It was a terrific review of the wonderful music and troubled life of Marvin Gaye.

Those of you who are less familiar with early Soul and R&B owe it to yourself to learn a bit about Gaye, best known as an artist on the Motown record label in the 1960s and 1970s.

Master_19611984Gaye had a classic R&B voice — described as "edged with grit yet tempered with sweetness." But he was much more than that: He was Motown’s renaissance man: A songwriter, composer, multi-instrumentalist, and record producer as well.

AllMusic: "Moving from lean,
powerful R&B to stylish, sophisticated soul to finally arrive at an
intensely political and personal form of artistic self-expression, his
work not only redefined soul music as a creative force but also
expanded its impact as an agent for social change."

You can explore Gaye’s work a couple of ways: The one click method is
either a box set or a Best Of. For the big 4 CD box, go with The Master 1961-1984. A less exhaustive approach is Every Great Motown Hit of Marvin Gaye.

Whats_going_on I much prefer the albums over the greatest hits, The self-produced What’s Going On was a landmark effort, described as "a dramatic shift in both content and style that forever altered the face of black music."  A mix of percussion, soul and jazz, it has a remarkably sophisticated and fluid sound. Reviewers have called What’s Going On a conceptual masterpiece.

The long-simmering eroticism implicit in much of Gaye’s work reached its boiling point with 1973′s Let’s Get It On, one of the most sexually charged albums ever recorded; a work of intense lust and longing, it became the most commercially successful effort of his career

 

Top Ten Albums
Lets_get_it_on1971: What’s Going On (#6 U.S.)
1973: Let’s Get It On (#2 U.S.)
1973: Diana & Marvin (#5 UK)
1974: Marvin Gaye Live! (#8 U.S.)
1976: I Want You (#4 U.S.)
1977: Live at the London Palladium (#3 U.S.)
1982: Midnight Love (#7 U.S.; #10 UK)
1994: The Very Best of Marvin Gaye (#3 UK)
2000: Marvin Gaye Love Songs (#8 UK)

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Recommended Albums

What’s Going On
Let’s Get It On
The Master 1961-1984 (Box Set)   

• NPR: A Tribute to Marvin Gaye    

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videos after the jump

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Category: Friday Night Jazz, Music, Video

Whitney On Citi’s Pandit

I tried embedding a Windows Media version of several recent Bloomberg Videos yesterday, but somehow, we ended up with the autorun feature on, regardless of the setting.

This morning, I will embed it into a page after the jump to prevent that from autorun reoccurring:

Click for video
Whitney

Citigroup Inc. Chief Executive Officer Vikram Pandit faces an "impossible feat” in turning around the biggest U.S. bank as it faces “seismic” costs to restructure, Oppenheimer & Co. analyst Meredith Whitney said.

Citigroup will be forced to announce the sale of major businesses toward the end of this year or in early 2009, Whitney, who recommends investors sell the shares, said in a Bloomberg TV interview today. One of the units could be Banamex, the company’s Mexican branch, she said.

Whitney, 38, correctly predicted on Oct. 31 that New York- based Citigroup would cut its dividend to shore up capital after mortgage-related writedowns. Pandit on May 9 outlined plans to sell $400 billion in assets at the bank, which has booked more than $40 billion of credit losses and writedowns since the subprime mortgage market collapsed last year.

Source
Citi’s Pandit Faces `Impossible Feat,’ Whitney Says
Margaret Popper and Josh Fineman
Bloomberg, May 12 2008
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aTsLEkAPZJAE

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Category: Credit, Video

T. Boone Pickens on Oil Prices, Trading, Wind Power

On Bloomberg (via Paul), comes this  very good video interview with T. Boone Pickens on Oil, Natural Gas, Trading — and Wind Power.

 

Boone at 2008 Milken Conference
(click for video)



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Good stuff.

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Source:
Boone Pickens Says He Is Ready to Bet on Wind Power
Bloomberg, April 29 2008
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a8Roxzn8p.bI

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Category: Energy, Video

Cognitive Surplus, Part II

A few weeks ago, we discussed the Clay Shirky’s concept of cognitive surplus.

Here’s the original video of that discussion:

Category: Psychology, Video

Stiglitz on the Economy

 

Click for video

Sources:
Stiglitz Says Bank Executives Too Optimistic About End to Rout

Mark Deen and Paul George
Bloomberg,  April 30 2008
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a68mzM58.R84

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Category: Economy, Video

Fooling_someEvery now and again, CNBC puts on a superlative show.  Friday morning’s Squawk Box was one of those times when they hit the ball out of the park.

As I was heading out the door to work, I heard David Einhorn of Greenlight Capital begin chatting about shorting stock, soft SEC enforcement, and Allied Capital (ALD). CNBC also announced that William Ackman of Pershing Square Capital was coming on in a while.

Einhorn discussed his presentation at Jim Grant’s conference Private Profits, Socialized Risk as well as his book, Fooling Some of the People All of the Time: A Long Short Story.
   

So before leaving the house, I TiVo’d Squawk, and then headed off to work. I watched the show Friday evening, and it was fantastic.  Watch the videos below and see if you agree.

• The Short & Short of It
Short selling can be good for the markets, with Owen Lamont, DKR
Fusion, David Einhorn, Greenlight Capital and CNBC’s Steve Liesman

click for video

Short_and_short

• Whistle-Blowing pt. 1

Activist investors face challenges convinsing regulators to face the facts, with William Ackman, Pershing Square Capital Management and David Einhorn, Greenlight Capital Management

click for video

Whistle_blower_1


• Whistle-Blowing, 2

click for video

Whistle_blower_2


• Hedging Your Bets

Discussing fraud on Wall St., with David Einhorn, Greenlight Capital Management president

click for video

Hedging_your_bets

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Related

Fooling Some People site
http://foolingsomepeople.com/main/

The Speech
http://foolingsomepeople.com/main/speeches.html

Book:  Fooling Some of the People All of the Time: A Long Short Story

Jim Grant’s conference presentation Private Profits, Socialized Risk

Category: Credit, Derivatives, Financial Press, Video

Trichet Warns of `Protracted’ High Inflation

Unlike the Federal Reserve, Trichet and the EC are very concerned with high Inflation:

Click for Video


Remember, the EC has a single charge — maintaining price stability — and is not concerned with maximizing growth . . .

Source:
Trichet Sees `Rather Protracted’ High Inflation
Gabi Thesing and Christian Vits
Bloomberg, May 8 2008
http://www.bloomberg.com/apps/news?pid=20601087&sid=aZrZpAw8DbmI&

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Category: Federal Reserve, Inflation, Video