Archive for January, 2009

  • The Most Predictive Factor: Momentum
    , January 27th, 2009 at 12:37 pm

    Mebane Faber posts about Richard Tortoriello’s book, Quantitative Strategies for Achieving Alpha. In the more than 40 single factors he tested from 1987-2006, guess which [...]

  • Credit Default Swaps
    , January 27th, 2009 at 10:44 am

    Peter J. Wallison writes “Everything You Wanted to Know about Credit Default Swaps–but Were Never Told.” This comes on the heels of Gretchen Morgenson’s recent [...]

  • Thain Doing His Part
    , January 27th, 2009 at 10:13 am

    According to the New York Post, while dining recently, John Thain, “loudly told the waiter, for all to hear, ‘under the circumstances with this tough [...]

  • Dividends Being Cut at Fastest Pace in 50 Years
    , January 27th, 2009 at 9:54 am

    Bank of America (BAC) recently cut its annual dividend from $1.28 a share to four cents. (Why even keep it?) Of course, now that you’re [...]

  • Geithner Is Confirmed
    , January 26th, 2009 at 6:24 pm

    The Senate votes to confirm Geithner 60-34.

  • Cyclical Stocks Still Have a Long Way to Fall
    , January 26th, 2009 at 3:59 pm

    Here’s a look at the Morgan Stanley Cyclical Index (^CYC) divided by the S&P 500 (^SPX). For such a simple metric, I think is an [...]

  • Blame China
    , January 26th, 2009 at 12:56 pm

    Sebastian Mallaby claims China’s currency policy was a major cause of the housing bubble: Geithner is correct that China manipulates its currency. What’s more, this [...]

  • A Capital-less Financial System
    , January 26th, 2009 at 12:19 pm

    Here’s a sample of a fascinating article from Ricardo Caballero at the Financial Times Economists Forum: Forcing institutions to raise capital, be it private or [...]

  • Buy List Updates
    , January 26th, 2009 at 10:48 am

    There are a couple of items to pass along this morning. Danaher’s (DHR) earnings were down from last year, but the company still beat estimates. [...]

  • The Peter Schiff Backlash Begins
    , January 26th, 2009 at 10:05 am

    I’ve been saying for some time that I’m not particularly impressed with Peter Schiff and his hyper-bearish calls. Fortune just had an article on how [...]

  • The Obama Plan
    , January 25th, 2009 at 11:46 am

    President Obama has laid out his plans to revive the economy, and the price tag will be “at least $820 billion.” Something tells me that [...]

  • Contra Geithner
    , January 23rd, 2009 at 12:38 pm

    Joe Weisenthal makes the case against Geithner: We know that not everyone would’ve made the same decision here. We’ve worked with people in our professional [...]

  • New Stock Options for Google Employees
    , January 23rd, 2009 at 10:35 am

    A few years ago, I criticized a Wall Street Journal story that claimed corporate executives were profiting off 9/11 by granting themselves new options after [...]

  • Aflac's Press Release
    , January 23rd, 2009 at 10:12 am

    I’m glad to see AFLAC (AFL) making a public statement: “I think it’s also appropriate to comment on the status of the perpetual debentures, or [...]

  • Aflac’s Press Release
    , January 23rd, 2009 at 10:12 am

    I’m glad to see AFLAC (AFL) making a public statement: “I think it’s also appropriate to comment on the status of the perpetual debentures, or [...]

  • Worst Hoax Ever
    , January 22nd, 2009 at 4:08 pm

    Dude, if you’re going to be a jerk, at least get a copy-editor.

  • Strong Earnings from Baxter
    , January 22nd, 2009 at 2:19 pm

    Baxter International (BAX), one of the new stocks on my Buy List, posted decent earnings for the fourth quarter. Earnings-per-share came in at 91 cents, [...]

  • AFLAC’s Hybrids
    , January 22nd, 2009 at 11:44 am

    The problems in the British banking sector have spread back across the Atlantic to strike our very own AFLAC (AFL). The stock is getting crushed [...]

  • Political Interference in Bank Bailout Decisions
    , January 22nd, 2009 at 11:10 am

    I’m shocked! Absolutely shocked something like this could happen: Troubled OneUnited Bank in Boston didn’t look much like a candidate for aid from the Treasury [...]

  • Parsons Named Chairman of Citigroup
    , January 21st, 2009 at 5:51 pm

    Remember George W. Bush? Me neither, but once he said that “Wall Street got drunk.” Few folks got more boozed than the kids down at [...]