Archives for November 2008

Monthly Archives: November 2008

'Encouraged by a wicked wizard, Greenspan, Bernanke toils at his printing press'

'Encouraged by a wicked wizard, Greenspan, Bernanke toils at his printing press'

The Guardian has published below, an insight-full essay by Hugh Hendry, CIO, Eclectica Asset Management. Hendry's brash and eloquent commentary has earned him a reputation which he best personally describes as heresy, as many in the City of ...
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Credit Crisis Watch (November 28, 2008)

Credit Crisis Watch (November 28, 2008)

For the world’s financial system to start functioning normally again, it is imperative that confidence in the credit markets be restored. In order to gauge the progress being made to unclog credit markets, I regularly monitor a range ...
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Must-Read China Reading: World Bank Quarterly

Must-Read China Reading: World Bank Quarterly

If you read one thing on China this week/month/quarter/season, let it be the new World Bank China Quarterly. Superbly useful stuff. Get it here. [via Brad Setser] "Here are some of Brad Setser's notes from his CFR blog: ...
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Bill Ackman: Pershing Square Q3 2008 Letter

Bill Ackman: Pershing Square Q3 2008 Letter

Pershing Square Q3 2008 Investor Letter by Bill Ackman, November 15, 2008 at 11:44 pm These are extraordinary times particularly for active participants in the capital markets. While I do not normally choose to write about macro and ...
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The Mother of All Bear Market Rallies?

The Mother of All Bear Market Rallies?

Barton Biggs at Traxis Partners believes that equities could be setting up for ‘the mother of all bear market rallies.’ The piece, written Nov. 24 by Barton Biggs for the Financial Times, is timely - Here are some ...
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ScotiaMocatta: Precious Metals Forecast 2009

ScotiaMocatta: Precious Metals Forecast 2009

ScotiaMocatta has put out an an informative report, published November 20, 2008, "Precious Metals Forecast 2009." Here is the Executive Summary: Prices are falling fast as financial institutions cut exposure across all markets The current turmoil in the ...
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Mr President: spend, spend, spend

Mr President: spend, spend, spend

The United States is ready to roll towards prosperity, if a good hard shove can be given in the next six months John Maynard Keynes The following is an abridged text of an open letter [PDF] by John ...
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Tom Barrack's Economic Outlook

Tom Barrack's Economic Outlook

Famed investor Tom Barrack shares his economic outlook with CNBC's Erin Burnett. Barrack believes that the economy is in for a total disaster, and the next shoe to drop will be the regional banks, because regulators have had ...
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McCulley: The Paradox of Deleveraging will be Broken

McCulley: The Paradox of Deleveraging will be Broken

Paul McCulley, Managing Director and Portfolio Manager, PIMCO, earlier this year wrote a landmark discussion piece titled, "The Paradox of Deleveraging," in which he postulated that the deleveraging of the credit market would have a profoundly negative impact ...
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Jeremy Grantham: Alan Greenspan is My Nemesis, and More

Jeremy Grantham: Alan Greenspan is My Nemesis, and More

Here is the first at-length TV interview we have ever seen GMO’s Jeremy Grantham do. We could not figure out how to embed it, so here’s the link. The co-founder and chairman of global investment management firm, GMO, ...
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Hendry: Going long on government bonds

Hendry: Going long on government bonds

By Hugh Hendry Published: November 19 2008 16:03 Someone once said there are certain things that cannot be adequately explained to a virgin, either by words or pictures. It is therefore with some trepidation that I attempt to ...
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Panic-crash sentiment causes extreme volatility

Panic-crash sentiment causes extreme volatility

As fear stalked global equity markets over the past few days, volatility continued unabated and the CBOE Volatility Index (VIX) again scaled the panic levels of October 10. The following chart tells the story … For some perspective ...
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Mark Mobius Talks Brazil, Emerging Markets

Mark Mobius Talks Brazil, Emerging Markets

Mark Mobius, the emerging market specialist from Templeton Asset Management reckons that Brazil offers a great opportunity for investors with nerve. Telegraph UK asked him why. What makes Latin America so attractive to investors? The region's main attraction ...
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Global Equity Market Snapshot

Global Equity Market Snapshot

Global equity market indices have been obliterated by the ongoing deleveraging. The markets that have broken below their previous bear market bottoms are in danger of breaking lower and the ones that have managed to keep their heads ...
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Economic Woes Torpedo Stock Markets

Economic Woes Torpedo Stock Markets

Yesterday was another ugly day for stocks, with bourses around the globe falling victim to strong selling pressure. Fueling the sell-off were concerns that the economic recession could not only be deeper and longer than previously feared, but ...
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