I really don’t like to single out any one firm or strategist for excessive criticism — hey, we’re all wrong on quite a regular basis. But, goddamn, if Bear Stearn’s David Malpass hasn’t been on the wrong side of more than a few major issues facing the economy over the past few years.
We first noted his wrong way cheerleading from a NYT piece in 2005, where Malpass was complaining that "the way the Bureau of Economic Analysis
calculates savings, the changing asset values haven’t affected the
national savings rate." The problem with his analysis was that these variable assets (Stocks, Houses, etc.) fluctuate in price, while the other side of the ledger — debt to acquire these assets — did not. More recently, Malpass downplayed the credit crisis — just as Bear Stearns was blowing up from the, uh, credit crisis. And he’s been wrong on the dollar also.
But surely, he’s not the only one who was compromised by his shop, or who refused to see what was happening in real time. Anyone else on Wall Street worth mentioning?
What shills and montebanks, liars and hypocrites (strategists, pundits & fund managers) have been on the wrong side of the dollar, oil, equities, bonds, agriculture, consumer spending, precious metals, employment, homebuilders, financials, or technology ? I want names, dates, and URLs.
Not just the people who were merely wrong — but those who knew, or should have known, better — but spread the hackery anyway.
What say ye?
What’s the U.S. Savings Rate Really? http://bigpicture.typepad.com/comments/2005/05/whats_the_us_sa.html
‘Don’t Panic About the Credit Market
WSJ, August 7, 2007
Is It a Savings Crisis or a Math Error?
NYT, May 22, 2005
This is my annoyance of the moment: Why are DVDs a DRM-locked proprietary platform? When I purchase one, why can’t I use this on a convenient, portable device such as my iPod?
What a pain in the arse it is to rip a DVD: Frist, you need to use several products (MP4
Converter, Handbrake, Ripper); 2nd, it takes forever. 3rd, and its illegal to do so.
What brought this about recently was The Simpson’s Movie — actually, more of an extended 90 minute episode. I saw it with my nephews (with me snoozing thru parts of it).
However, going through the extras, I started listening to producer/writer commentary. Unbelievably entertaining stuff, like a terrific radio show with several very funny people cracking each other up. I would have liked to put on the iPod for the train, but no such luck.
I can rip the basic movie, but not the special audio commentary. Anyone have a clue how to do that?
The Complete Guide to Converting DVDs to iPod Format
iLounge, November 21, 2005
Rip DVDs To Your Mac To View On AppleTV And iPod.
Mac360, Friday, April 13, 2007