Articles

Enhanced Money Markets can get you rates above a traditional money market fund but they can also get you into trouble, as Europe is finding out.

Data that I follow seems to show fewer homes on the market, not more as would be expected. What's the explanation?

Friday was a scary day, especially in Europe. Near panic reigned throughout Europe, less so in the United States. The European Central Bank (ECB)hasn't pumped as much liquidity into the system since the day after September 11, 2001. The Fed, in contrast, added almost twice as much as normally, but contrary to the ECB held its powder dry. In the past, the Fed always acted more swiftly and decisively than the ECB. This change in behavior raises flags and suggests that things in Europe are worse that we suspected.

The news is out in the nerd-isphere that Facebook was hacked. The majority of the world could care less.

Nicolas Sarkozy was elected President of France in May and, in an extraordinary break from tradition, is spending his first vacation in office not in the Cote D’Azur, but in New Hampshire. Here is what he is likely to find.

I just received a flyer in the mail advertising ING's Electric Orange account. In speaking with many people, I often hear that the inconvenience of waiting to access the money is one concern since it usually takes 2-3 days to remove funds from an online bank. ING now provides its customers with the ability to withdraw the money via the ATM ($1,000 daily limit) or via a debit card (as much money as in the account).

The subprime/mortgage mess has accelerated this week and today the Fed stepped in to shore up the market. Many believe that a rate cut is inevitable to further shore up the market. In the meantime, the market gyrates up and down as more banks freeze credit and try to assess their positions.

I had a discussion with the owner of the best bagel shop in New York, and I am convinced that the inflation is out of sight.

I've noticed that advertising on CNBC changes dramatically on days when the market is down big.

It is hard to believe, by this time, that anyone is in favor of the war in Iraq. Much attention is given to Bush's low approval numbers. But fully one third of Americans remain in favor of the war. We know they are mostly Republicans (but certainly not all Republicans are for the war), but what else do we know about them?

Netflix is and was a great idea and a great company. It changed the way we think about video and about home movies. It changed and enriched our lives. But, sadly, Netflix will in time become a footnote in history. Blockbuster just has too much money and is too aggressive a competitor and will increasingly beat Netflix out. A new acquisition undercuts Netflix still further and may be the final blow.

Some try to make private equity out to be the noble knight, who frees the damsel from distress and ensures a bright future. I think it's more like the hormone raging gigolo who is looking to love 'em and dump 'em.

The musical chairs continue at Fidelity and the latest to get caught without a chair is Ellyn McColgan. The media seem to think Ned Johnson is letting go of his key people, but I think Ned knows exactly what he is going - revitalizing a rather stagnant giant.

In Massachusetts even borrowers with good credit are having trouble getting a jumbo mortgage. The credit crisis seems to have spread beyond just the sub prime market.