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Inflation or Idiot
My patience for utter stupidity and incompetency is growing slimmer with each passing day. I’ve gotten extremely sour and impatient with the morons that love to hear their own voices and have others think of them as capable of independent thought. The problem is that I’m completely surrounded by it. It doesn’t matter if it’s local media, main stream financial media, a friend of the family, or the janitor at work.
For those who do like to discuss these things with me, or while I’m within earshot, they’ve probably noticed my disdain by the tones of my voice or simply my…
16Dec2008 | Oxbury Research | 0 comments | ContinuedJapan’s Nomura Broadens Horizons With Purchase of Bankrupt Lehman Assets
Nomura Holdings Inc. (ADR: NMR) yesterday (Monday) snapped up bankrupt Lehman Brothers Holdings Inc.’s (OTC: LEHMQ) Asia assets, and is close to inking a deal for its European units as well.
Tokyo-based Nomura will pay $225 million for Lehman’s Asia-Pacific operations. As part of deal, Nomura will take on 3,000 former Lehman employees in the region.
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“The businesses we are acquiring are hugely successful with excellent management and staff. This is a once-in-a-generation opportunity,” said Nomura Chief Executive Kenichi Watanabe of the deal,…
23Sep2008 | Money Morning | Comments Off | ContinuedNo Gold, No Market, No Candlesticks
Investors and traders have long been accustomed to the convenience of price charts of stocks, Indexes, and commodities. Today, in computer display if not yet generally in commercially-available printed charts, the Japanese Candlestick format of price presentation reveals much more information than old-style bar charts, especially in connection with the mass psychology which underlies price moves. Stock prices, of course, are available for display in this mode. So are Forex charts and those of the commodities, as well – including the charts of Gold.
The charts are so familiar to us by now that they give us comfort. They are a…
22Sep2008 | William Kurtz | Comments Off | ContinuedWe Live In Interesting, Incompetent Times
Epics and Ongoing Busts in the Financial Sector
There may be a major hurricane battering the oil rigs and refineries in the Gulf of Mexico and Texas, but an even bigger one is crushing many of the key banking firms in America.
One is a natural disaster — you can’t blame people for Hurricane Ike unless they’re too stupid to heed storm warnings and get themselves and their families out of danger. But you can definitely blame people — specifically executives and regulators — for the man-made disaster currently engulfing investment banks and the financial sector as a whole.
Hundreds of billions of…
16Sep2008 | Oxbury Research | Comments Off | 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 | ContinuedBuyout of Merrill and Bankruptcy of Lehman Heightens Worry of U.S. Credit Crisis Pain Still to Come
After a weekend in which the deepening U.S credit crisis sent one top investment bank to bankruptcy court and a second into the arms of a “White Knight†suitor, U.S. stocks yesterday (Monday) recorded their worst day since the 9/11 terrorists attacks seven years ago. Indeed, the Dow Jones Industrial Average plunged more than 504 points, its biggest one-day point decline since Sept. 17, 2001 – the day the markets reopened for trading after the attacks on New York and Washington.
Wall Street entered last weekend anticipating a government bailout of Lehman Brothers Holdings Inc. (LEH), but exited with Merrill Lynch…
16Sep2008 | Money Morning | Comments Off | ContinuedWith Buyout of Merrill, Bankruptcy for Lehman, Wall Street Plays “Let’s Make a Deal”
In one of its wildest and weirdest stretches ever, Wall Street entered a weekend awaiting a government bailout of Lehman Brothers Holdings Inc. (LEH) and exited with Merrill Lynch & Co. Inc. (MER) agreeing to sell itself to Bank of America Corp. (BAC) for nearly $50 billion, and Lehman announcing it will seek bankruptcy in a bid to avoid a total liquidation after it was unable to find a buyer.
And this real-life version of the game show Let’s Make a Deal is far from over: Like a once-great prizefighter who’s clawing for the ropes after being staggered by a shot to the…
16Sep2008 | Money Morning | Comments Off | ContinuedECB and BOE Inject Billions, Bank of China Cuts Rates as Central Banks Cope with Lehman Fallout
Central banks around the world, including the European Central Bank (ECB), the Bank of England (BOE) and the People’s Bank of China, scrambled yesterday (Monday) to shore up liquidity and protect domestic markets against the fallout from the collapse of Lehman Bros Holdings Inc. (LEH).
The Bank of England and the European Central Bank injected billions of dollars into global money markets and the Bank of China cut interest rates for the first time in six years and lowered capital reserve requirements for its smaller banks.
The ECB allotted roughly $43 billion (30 billion euros) in a one-day money-market auction that…
16Sep2008 | Money Morning | Comments Off | ContinuedGlobal Investing Roundups
Lukoil Counts on Artic Find; Gourmet-Cookware Seller Burned by 2Q Results; FGIC Prolongs the Inevitable; Diageo’s Strong Sales; Lehman Bros. Plans Layoffs; Toyota’s 10 Million Goal Just Out of Reach
-Lukoil (OTC ADR: LUKOY), Russia’s second-largest oil producer said its new Artic oilfield would allow it to match last year’s production, Reuters reported. Oil output from Russia fell in the first six months of the year for the first time in a decade, due to aging infrastructure, maturing fields and heavy taxes.
-Williams-Sonoma Inc. (WSM), America’s biggest gourmet-cookware retailer, yesterday (Thursday) announced second quarter net income fell to $18.4 million or 16 cents…
29Aug2008 | Money Morning | Comments Off | ContinuedGlobal Investing Roundups
GM Pins Hopes on Cruze; GameStop’s Worried Outlook; New Car-Parts Leader; U.K.’s Retail Sale Surprise; Oil Bounces Back; Is Lehman a Takeover Target?; Jobless Claims on Decline; BK Has Its Way
-General Motors Corp. (GM) announced yesterday (Thursday) it plans to invest $500 million in an Ohio plant that will be retooled to produce the smaller, gas-efficient Chevrolet Cruze. The half-billion dollar project is part of GM’s commitment to focus on smaller models in response to high gas prices. The Lordstown, Ohio plant will begin manufacture of the Cruze in 2010, MarketWatch reported.
-Shares of video-game retailer GameStop Corp. (GME) fell to $41 before…
22Aug2008 | Money Morning | Comments Off | Continued
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