Discount retailer Loehmann’s did what other retailers – and a large number of other junk-rated companies – will do once the Fed allows a sense of reality into the markets: it filed for bankruptcy. Investors had refused to fund fu…
Even as the world was still desperately trying to figure out what exactly Bitcoin is, it was inducted into the Wall Street hype factory today by an analyst who touted it as the best thing since sliced bread – just when all heck was re-breaking out.
One of the few rebellious Fed heads, Richmond Fed President Jeffrey Lacker, fired a salvo when testifying before the House Judiciary Committee. He hit Wall Street risks covered by implicit government guarantees in the size of America’s GDP.
French Financial Markets Authority announced it would slap fines on two bloggers, Frenchman Jean-Pierre Chevallier and American Mike “Mish” Shedlock, “for having spread inexact information about the level of indebtedness” of meg…
We’ve known it all along, but now a former Fed insider confirmed it. QE, despite the Fed’s relentless efforts “to spin it as a tool for helping Main Street,” was “the greatest backdoor Wall Street bailout of all time.” But it’s complicated. He’s a revolving-door Wall-Street banker.
After five years of QE, and $3 trillion in new money floating around, we now have asset bubbles everywhere. Risk is no longer priced into anything. In fact, it has disappeared as a factor. And the Fed is publicly fretting about it.
There has been a symphony of calls for American investors to plow their money into European stocks. Net inflows into European equity funds have set records. Allocation to Eurozone equities hit the highest level in six years, driven by euphoria about a …
Sign of trouble: A money manager told me some of his elderly clients were now coming into his office, and they’d say, “My kids tell me that I can make 25% a year with stocks.” How much were they were willing to lose? “Nothing,&r…
“It’s a great time to sell,” mused a pension fund investment officer. And Blackstone Group, the world’s largest private equity firm, is doing exactly that, feverishly, relentlessly, hand over fist, at peak valuations, cashing out. What does that mean for the rest of us?
Brokers, financial advisors, and wealth managers are a recalcitrant bunch, suddenly, after having gotten their manicured fingers burned on a few super-hyped IPOs, and now they just refuse to get exuberant about the Twitter IPO. At least that’s wh…
