Hedge Fund Implode-O-Meter
On an Oct. 15, 2007, conference call with analysts and investors, Crittenden said the company’s “subprime exposure” was $13 billion at the end of second quarter and had declined during the third quarter. The figure he cited…Read
"According to the draft proposal, global banks would be required to hold high-quality capital reserves, known as Tier 1 capital, at 9 percent of their total assets. That’s more, for instance, than the 7.5 percent Tier 1 capital…Read
"It is quite clear the US economy is sliding back towards recession, if not still in it. The average consumer understands that, yet the average economist doesn't."…Read
"Goldman Sachs Group Inc.’s London unit was fined 17.5 million pounds ($27 million) for failing to notify the U.K.’s financial regulator about a U.S. Securities and Exchange Commission investigation."…Read
In a couple of private e-mails, Mish objected to—and dismissed—my Treasury-run/commodity-moonshot/hyperinflation scenario altogether. According to him, I was arguing for a Shazaam! moment: When all of a sudden—for no reason…Read
"What I found really interesting was that Ron called on the Obama administration to allow an audit of all government gold reserves. His goal is to determine their total amount and to see if there is official manipulation of gold…Read
``China and Russia plan to start trading in each other’s currencies as the world’s second-biggest energy consumer and the largest energy supplier seek to diminish the dollar’s role in global trade... “Given the risk to the…Read
Hedge fund manager John Paulson, who made a killing betting against subprime and housing in 2005-2008, has not been doing so hot lately. In fact, despite (or maybe because of) being advised by Greenspan, the only bright shining…Read
``The financial adviser marketed his risky hedge funds, which were burned in both Petters' and Madoff's operations, as low risk... Neal Greenberg, head of Agile Group in Boulder, Colo., fraudulently marketed risky hedge funds as…Read
Think the market has been a rough ride the last few years? Well, it scares Oliver Stone, and contrary to what you might think, it has nothing to do with insolvent banks. Free speech is the problem! Stone explains in a CNN…Read
Governments like to operate deep in complex technical details, when they are up to really no good. Few in the general public understand or pay attention to complex technical details of obscure regulatory moves, though those…Read
"New laws forbidding shareholders from holding management positions in Afghan banks could force the chairman of the country’s second-largest bank to resign, the National has reported. "…Read
``Jochen Hitzfeld, the most accurate gold forecaster tracked by Bloomberg in the last three quarters, in which the analyst raised his estimate for the metal’s average price next year by 12 percent to $1,400 an ounce, and for…Read
"Wall Street’s self-infatuated “smart money” went long on subprime America. For a brief moment, it looked as if the “smart money” would suffer the fate of “dumb money” – but no … the so-called smart money proved to be genuinely…Read