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Category Archives: Uncategorized
Uh Oh — Another Citi Crony Capitalist at Treasury
Last December we wrote that Citigroup is “the defective product of chronic crony capitalism and merger mania. I agree with Sandy Weill, who recommended splitting commercial and investment banking. The next Republican presidential candidate should propose breaking up this too-big-to-fail … Continue reading
The Pundit and the Plutocrat
A public exchange between a billionaire and a financial journalist nicely conveys the corrosive economic effects of Obama’s policies. In November 2011 hedge fund impresario Leon Cooperman wrote Obama an open letter criticizing the “divisive, polarizing tone of your rhetoric” … Continue reading
Obamacare: What Wall Street Economists Can Learn from Senator Rubio
In his State of the Union’s response, Senator Marco Rubio said: For example, Obamacare was supposed to help middle class Americans afford health insurance. But now, some people are losing the health insurance they were happy with. And because Obamacare … Continue reading
Republicans Look Smart for a Change
Yesterday was a bad day for Democrats on the Sunday shows. Like an unprepared college student taking an oral exam from Professor Christopher Wallace PhD, Nancy Pelosi haltingly rambled from one stale talking point to the next. Dick Durbin trotted … Continue reading
Clear Blue Skies over Beijing (in 2030) – Stock Market Plays
A wacky but wise Wall Street wag used to tell his clients, “After living standards in the third world improve, people will want to live longer.” That is bullish for healthcare stocks but also, less obviously, for a broad range … Continue reading
The Mourning After— Pondering O’Poverty
“Despite Mr. Obama’s stated commitment to helping all Americans, the recession and the lingering effects of the way it was handled have made matters much, much worse. While bailout money poured into the banks in 2009, unemployment soared to 10 … Continue reading
The Wisdom of Felix
The first installment of this year’s Barron’s Roundtable was weirdly muddled, with a lengthy back-and-forth about 2013 S&P 500 EPS that never ever mentioned a specific EPS estimate. When asked directly, “What is your S&P 500 earnings estimate for 2013?” … Continue reading
Valuation Levitation?
For the past four years I have been asking: “Why do so many investors want to own a bond that pays 2% when they could own a basket of blue-chip stocks with a dividend yield of over 3% AND the … Continue reading
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Tagged dividends, stock market history, stock market valuation
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The Anti-Poverty Party
HollandeDazed Last July we wrote a squib titled “Seven New Reasons Not to Create Jobs in France” that ticked off seven tax hikes passed by Socialist Prime Minister Francois Holland and then offered: “Our Prediction: The tax hikes will not … Continue reading
The Election Cycle Lives
Equity investors should remember the strong tendancy for the first two years of a presidential term to be weak, the third year to be very strong, and the final or election year to be fairly strong. Politicians postpone the “bitter … Continue reading