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Meredith Whitney of CIBC world markets wrote yesterday that Citicorp may be forced to cut its dividend or sell assets to prevent a liquidity crisis. But Citibank sure isn't acting like it's having problems. Today it announced the acquisition of hedge fund Carlton Hill.
Read →A debate on which way the market is going. Feel free to add your opinion.
Read →Active investing, otherwise known as stock picking is a trillion dollar industry that just doesn't work. Don't believe me? Look at what happened to Bill Miller, until last year considered one of the best stock pickers.
Read →Yale's investment chief, David Swensen sees enormous opportunity in downtrodden assets bonds and even equities. He believes what we are going through is just part of the deal when you invest.
Read →In a speech today, Janet L. Yellen the President of the Federal Reserve Bank of San Francisco said that this recession is likely to be deeper than a typical, "garden variety" downturn.
Read →John Bogle, Harry Markopolos, Michael Lewis, and the Self-Inflicted Crash of the US Financial System
Michael Lewis writes an interesting point in the NY Times that essentially says that conflict-of-interest brought down the US Financial system. It's an interesting read and one that has some plausibility.
Read →South Korea's largest investor, the South Korea National Pension Service said it's time to sell US treasuries as it believes the stimulus plan being developed by Obama and the Congress will lead to higher inflation and higher treasury yields. It's strange that as we struggle with deflation there is now talk of inflation concerns on the horizon.
Read →Experian, one of the big three credit bureaus has decided to no longer offer FICO scores via the MyFico site. That means that consumers will no longer have access to one component of the scoring model used to determine FICO scores.
Read →Bank of America CEO Ken Lewis says that Merrill Lynch and Countrywide are things of beauty and that they will become major profit centers over the next year. Ex BofA CEOs Hugh McColl and Thomas Storrs defend the acquisition. I prefer the market verdict - over $40 billion in government funds and a stock price of $4.
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