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A friend sent me the following presentation earlier in the week when I was feeling a bit ill. So I neglected to post it.  But, I want to return to it because it is in keeping with my recovery/depression theme. These are the issues that were complicit in the latest financial crisis and almost none [...]

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Here’s another bullet point in our ongoing tally of reflation indicators. It’s the return of risk in the form of start-up hedge funds (John Meriwether included).
From the FT:
Hedge fund launches are growing in size and number after months of subdued activity in the wake of the collapse of Lehman Brothers last year.
The revival of fund [...]

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John Meriwether, the 62-year old former Salomon bond trader and LTCM wizard is back for, what is this, his fourth go round.
For those of you who don’t remember the 1980s, John Meriwether was the biggest of the ‘big swinging dicks’ on Wall Street, leading Salomon Brothers to huge profits in its fixed income division. Lionized [...]

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Bill Gross is a bond man.  In fact, he is often called the “Bond King” because Pimco, the organization where he is founder and Co-Chief Investment Officer, is the largest bond fund in the world. In Bondland, what Gross says has a lot of weight.
And Gross has been talking about a “new normal” of deleveraging, [...]

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The following post appeared on Wednesday at Rick Bookstaber’s new blog. Bookstaber is a market veteran who has long and storied history of achievement. He worked at Bridgewater Associates, ran the Quantitative Equity Fund at FrontPoint Partners and was in charge of risk management at Moore Capital Management amongst other things.
Of particular relevance here, Bookstaber [...]

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Following up on my “Sell equities” post, I want to highlight a factoid from today’s David Rosenberg’s Breakfast with Dave distribution.
Never before has the S&P 500 rallied 60% from a low in such a short time frame as six months. And never before have we seen the S&P 500 rally 60% over an interval in [...]

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In late August, I wrote a post called “Getting bearish again” in which I said that the bear market rally I had anticipated back in March was long in the tooth.  At the time, I mentioned 1026 on the S&P 500 as a sell signal.  With the S&P 500 now well over 1060 and gains [...]

You probably heard about Morgan Stanley’s financial results this past week — not stellar. What most people seem to be buzzing about is that a rogue trader cost the bank $120 million. The trader has been suspended pending further investigation.

It may seem a lot but the loss is not huge on the grand scale of rogue trader losses. See the articles below. Now, those are some major losses.