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Three Ways to Know When the Credit Crisis Hits Bottom
"Have we seen the worst from the financial sector?"
The question – a very good one – came from an audience member following my global investing presentation at the Agora Wealth Symposium in Vancouver, British Columbia.
During my entire time there, the interest in the ongoing credit crisis was intense.
I took a deep breath and launched into my three-point response. First, I’m encouraged by what I see lately but still believe there is a fair distance to travel before all the skeletons are cleaned out of the financial sector’s closet.
There is a growing body of data that suggests banks have recognized…
8Dec2008 | Money Morning | 0 comments | ContinuedCredit Crunch Claims Two More (Part 1)
“At no time in history has the biggest money in the world been as MISALOCATED and invested as it is now.†–Ty Andros
…well put Mr. Andros. Today marked the worst day since markets opened after 9/11. Bonds soared while commodities, save gold, took it on the chin. By the way, if you have been a reader of mine, our long gold short oil position that I discussed several weeks back in an issue of Bourbon & Bayonet has done tremendously well in violent commodities market to say the least. You can visit the issue here. Moving on…
There is an enormous…
16Sep2008 | Oxbury Research | Comments Off | ContinuedIndia’s Reliability Provides a Razor Thin Edge Over China
With sky-high growth potential, China and India are the two markets no investor can afford to miss out on. But that doesn’t mean they’re impervious to market turbulence, and in times of trouble, India is the more reliable investment.
No doubt, both countries’ markets are suffering this year, with China’s Shanghai A Index down 50%, and India’s Sensex Index down 25%. It’s no secret that India is struggling with both a growing budget deficit and mounting inflationary pressure. But China has problems too – it’s just hiding them under the carpet until the Olympics are over.
That’s why, for me at…
12Aug2008 | Money Morning | Comments Off | ContinuedThe Latest Banking-Sector Credit Crisis Will Lead to That Sector’s Next Group of Profit Plays
Three major U.S. banks – including Fifth Third Bancorp. (FITB) and Wachovia Corp. (WB) – got clobbered in recent days on the news that they’ve lost another $1.6 billion by making investments in the Citigroup Inc. (C) Falcon hedge fund that lost 75% of its value earlier this year.
It’s just the latest chapter in a continuing credit-crisis saga that’s gone on for so long that many investors have become numb to the news: They regard all new developments with a kind of “so what” attitude, or just ignore the news completely.
Believe me when I say that such a response is…
29May2008 | Money Morning | Comments Off | ContinuedMajor Lending Pullback Predicted by Maverick Wall Street Analyst Could Have Dire Implications for U.S. Economy
Oppenheimer & Co. (OPY) analyst Meredith Whitney’s reputation has soared like a skyrocket since she made her bearish – but highly prescient – call on the banking sector, including Citigroup Inc. (C), as Money Morning reported last fall.
Now she’s back. And her outlook for the financial sector is actually worse. Whitney is now predicting that the banking-sector’s financial crisis will extend well into next year. If not beyond.
And that’s not even the bad news.
Whitney now says the worst may be yet to come. The banking-sector financial crisis will last at least until the end of next year, and may actually stretch…
26May2008 | Money Morning | Comments Off | ContinuedIceland Ponders EU Membership as the Credit Crunch Sinks its Currency
Editor’s Note: Despite rising fast financially in the past few years, Iceland is feeling the chilly effects of the global credit crunch – so much so the fiercely independent island nation is considering European Union membership to save its tanking currency. A special report, jointly developed by U.K. affiliate MoneyWeek Magazine and our experts here at Money Morning, explores the pros and cons of Iceland’s potential EU membership.
If you think the credit crunch is hitting the United States and United Kingdom hard, spare a thought for Iceland.
Banks all over the world have spent much of the past few years devouring…
22May2008 | Money Morning | Comments Off | Continued
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