Resources
BNET Resources
- sort by:
- Relevance
- Date
- Popularity
- Sovereign Credit Watch: Getting Stretched
- David Goldman submits: And I don’t mean Dubai or the other prospective basket cases: all of them have come in sharply. But with Japan trading at +62 and the UK at +70, there’s a rattle in the motor which one day could turn nasty. It’s not possible to shove...
- External links 2009-12-03
- Fed Watch: A Trillion Here, a Trillion There...
- David Goldman submits: The Fed keeps adding MBS to its portfolio click to enlarge. A trillion dollars worth of support for the mortgage market should have given housing a bit more of a kick, on top of the first-time homeowners’ tax credit scheme. Given the...
- External links 2009-12-03
- Divesting Bank Stocks: Always Too Early
- David Goldman submits: On July 18, 2007, I went on Larry Kudlow’s CNBC show to warn that a “trillion-dollar AAA asset bubble” threatened the banking system, warning investors to get out of financial stocks. I was much too early. by David Goldman
- External links 2009-08-16
- If Wal-Mart Isn't Recovering, How Can the U.S. Economy?
- David Goldman submits: Bloomberg today: Aug. 13 Bloomberg — Wal-Mart Stores Inc., the world’s largest retailer, reported second-quarter profit that exceeded some analysts’ estimates after managing inventory to lower costs. Comparable-store sales trailed the company’s forecast. by David Goldman
- External links 2009-08-13
- Betrayed By Buffett? No Need to Be Shocked, The Game Is Indeed Rigged
- David Goldman submits: Just a reminder: back in January, I said that financial equity was “the hottest ticket in town.” Here’s another sign of banana-republicization of the United States. Under the headline “Buffett’s Betrayal,” Reuters’ blogger Rolfe Winkler has a poignant comment this morning about Warren Buffett:...
- External links 2009-08-06
- Banks Just Keep Getting Frothier
- David Goldman submits: Banks are getting frothy, I offered on July 15 before decamping for Italy. I spoke at a conference on ethics and financial markets sponsored by the Instituto Bruno Leoni in Rome, of small interest to this blog’s readers. Since then banks have outperformed the S&P 500,...
- External links 2009-08-02
- Banks are Already Getting Frothy
- David Goldman submits: It’s still asset prices. The more recent 2007 AAA vintage of subprime-backed securities — the real top of the market garbage — had a price pop yesterday in sympathy with bank stocks. ABX Index for 2007-2 Vintage AAA’s Backed by Subprime Mortgages from Markit...
- External links 2009-07-15
- Citigroup Stock: Top and Bottom Lines
- David Goldman submits: Citigroup C options have become very expensive in the leadup to preferred conversion July 28. Note that the gap click on chart to enlarge between implied volatility (now around 100%) and empirical volatility (at only 50%) is the widest in quite some time. That suggests that...
- External links 2009-07-15
- Is It a Stock Market Rally or a Dollar Devaluation?
- David Goldman submits: The chart below click to enlarge shows the SPX vertical scale vs the dollar bullish ETF UUP horizontal scale for the year to date: Fully 80% of the movement in the S&P can be explained by the movement in the dollar index. by...
- External links 2009-08-22
- 10 More Reasons Why the Recession Will Last Forever
- David Goldman submits: With reference to Dave’s Top 10 Reasons why the recession will last forever, here’s another set. I continue to believe that the S&P will end 2009 about where it began. 10. Exports are down by a quarter from their June 2008 peak (click to...
- External links 2009-09-25
- The U.S's Permanent Depression
- David Goldman submits: Permanent depression is the subject of my essay today at Asia Times. I review the sources of funding for Treasury deficit and show how it is choking off credit to the productive economy. The conclusion: The parallels between America in 2009 and Japan...
- External links 2009-10-05
- Dubai Fallout: Not with a Bang, But a Whimper
- David Goldman submits: Except for Greece, whose credit protection trades +72 basis points wider than it did a month ago, market response to the Dubai default is surprisingly muted, as the table below from Markit Partners makes clear: Worst Performing Sovereign Credit Default Swaps by David Goldman
- External links 2009-11-30
- Since When Does the 10-Year Yield Move Inversely to the S&P?
- David Goldman submits: If conventional wisdom applied–namely that the stock market is driven by prospects of economic recovery–we never, never would see this kind of weirdness: by David Goldman
- External links 2009-11-17
- 10-Year Treasury Yield Is the Giveaway
- David Goldman submits: We have had the longest winning streak on the S&P in three years, and gold hits new records every day — and the 10-year yield has fallen in the course of the week. That’s not a dog that didn’t bark, but a dog that did an...
- External links 2009-11-11
- Economy Watch: 'Stiggling' Our Way to Socialism
- David Goldman submits: I propose a neologism, “to stiggle,” meaning to make uneconomic loans for political reasons, in honor of Nobel Laureate Joseph Stiglitz. If only we had nationalized the banks, he complains, we would have been able to force the banks to make uneconomic loans that they did...
- External links 2009-11-01
- Main Street Seeing Worst Credit Crunch Ever
- David Goldman submits: Away from the too-pig-too-fail bailouts and subsidized sectors of the economy, the credit crunch is getting worse, not better. by David Goldman
- External links 2009-10-29
- Asset Bubble Bursting
- David Goldman submits: The following chart (the price of a derivative contract based on single-A rated commercial mortgage backed securities as provided by Markit Partners) speaks for itself click to enlarge: As defaults on commercial mortgages rise, the mini-bubble in toxic waste assets deflates. Note that the...
- External links 2009-10-27
- When Volcker Saved the Dollar
- David Goldman submits: An important anniversary slipped by this week: the fortieth anniversary of Paul Volcker’s dramatic tightening of credit on Oct. 6, 1979, after the dollar went into free-fall on foreign exchange markets. Inflation had crossed into double digits after four years of mismanagement by the Carter administration....
- External links 2009-10-09
- The Arithmetic of Gold: Why Its Price Has No Ceiling
- David Goldman submits: What’s the price of the last ticket on the last train out of Paris on the night the Germans march in? Whoever is carrying the most cash will get it, and that will be the price. Robert Merton, the great finance theorist, showed that in a...
- External links 2009-10-07
- An Unpleasant Comparison: Demographics and Deflation
- David Goldman submits: Back during Japan’s lost decade of 1990-2000 (the first lost decade, that is), Japan’s population had just began to age dramatically. In 1990 the elderly dependency ratio stood at 17%, but it had risen to 25% by 2000. As the Japanese aged, their appetite for savings...
- External links 2009-07-09
- << Previous
- page 1 of 2
- Next >>
