Opec States Scramble to Avoid Debt Default

click for ginormous graphic

Source: The London Times

Category: Credit, Digital Media, Energy, Politics

The Media’s $72 Million Question . . .

Hindsight is 20-20. This has certainly been the case with that recent New York magazine story about a teenage trading genius who told a reporter that he had amassed a $72 million fortune in the stock market while attending high school. Actually, hindsight emerged pretty quickly as the piece immediately set off a wave of…Read More

Category: Markets

10 Thursday AM Reads

As we rapidly approach the week’s – and the year’s – denouement, its important to keep some perspective (William Goldman was right!). Oh, and our morning train reads: • How the Market Stole Christmas! (Macro Man) • To save itself, Greece must exit the Euro (Telegraph) • The First Casualty of a Bear Market (The Reformed Broker)…Read More

Category: Financial Press

Melt Up!

Those of you who continue to insist you can even remotely forecast what might happen next continue to reveal incredibly foolish, thoroughly disproved beliefs, despite an overwhelming avalanche of evidence that you haven’t the slightest idea what the fuck is going on now, much less what is going to happen next. Once again, the markets…Read More

Category: Markets

BIS: Currency movements drive reserve composition

Source:BIS

Category: Currency, Think Tank

“Shake It Off” as “Hanukkah”

Jewish a cappella group Six13:     Previously:

Category: Humor, Music, Weekend

10 Wednesday PM Reads

My  afternoon train reads: • Are We Witnessing a Melt-Up In Long-Term Bonds? (A Wealth of Common Sense) • Shale is to OPEC as the Apple II was to the IBM mainframe.  (BusinessWeek) see also The Oil Price Opportunity (Project Syndicate) • What Investment Success Looks Like To Me (The Reformed Broker) • Switzerland Fissures…Read More

Category: Financial Press

CUBA Herzfield Caribbean Basin

In the announcement of US potentially normalizing relations with Cuba, the $33 million dollar closed end fund “Herzfield Caribbean Basin” — stock symbol CUBA — popped 40%:   click for ginormous chart   Here are its main holdings:   So much for those theories that investors are rational and markets are efficient . . ….Read More

Category: Markets, Psychology, Really, really bad calls

World Hot Spots That Could Ruin Your 2015

click for interactive graphic Source: Bloomberg

Category: Digital Media

10 Wednesday AM Reads

My post holiday party, how did I get home from Brooklyn, morning reads: •  Putin on the Fritz (Krugman) see also Checkmate, Putin. Russia’s economy is stuck in a catch-22. (Wonkblog) • The World Hot Spots You’ve Never Heard of That Could Ruin 2015 (Bloomberg) • Bond Investors Are Skittish Over Emerging Markets (Dealbook) • How Obamacare…Read More

Category: Financial Press