Jamie Dimon vs. Ben Bernanke
China Ghost Cities
Jack Bogle on Risks of U.S. Debt
Watch the latest video at video.foxbusiness.com … [Read more...]
Fight of the Century: Keynes vs. Hayek Round Two
$5,000/ounce Gold?
Is $5,000/ounce gold possible? Robert McEwen says yes. … [Read more...]
Horizontal Drilling
15%-20% Losses Ahead for Munis
Jeff Gundlach, Chief Investment Officer of DoubeLine Capital, is looking for losses of another 15%-20% in muni-bonds. Barron’s ran a cover story on Gundlach a few weeks back. The title of the piece was “The New Bond King.” Gundlach made a name for himself investing in mortgage-backed securities at TCW. After a falling out with TCW management, he started DoubleLine Capital. In the Barron’s piece, Gundlach comes off as arrogant and egotistical. Check out this introduction from Barron’s. In the course of several interviews at the Los Angeles headquarters of his new investment firm, DoubleLine … [Read more...]
An Uber-Bull
Call this the uber-bull case for stocks. Laszlo Birinyi is forecasting S&P 2,800 by September of 2013. Laszlo relies on historical patterns to make his predictions and obviously pays little attention to fundamentals. For those of us who still pay attention to fundamentals, Mr. Birinyi’s price target implies a P/E ratio on 2012 operating earnings estimates of more than 23X. The last time the S&P 500 traded at a forward operating earnings estimate of 23X was 1999. We all know how that turned out. … [Read more...]
A Bernanke Takedown
This is a clip of the Q&A from yesterday’s Financial Services Committee hearing. In this clip, Rep. Scott Garrett of New Jersey makes a masterful takedown of Bernanke. It should be blatantly obvious from this clip, even though Bernanke still attempts to deny it, that the Fed was a primary contributor to the real estate bubble. Enjoy. … [Read more...]