Monday, February 27, 2012

Face The Nation

Another belly flop from our friends in Washington, DC.

Wednesday, February 22, 2012

Death and Taxes

Business Insider suggests current tax rates are, by historical standards, very low.

Monday, February 20, 2012

Midnight Run

Colleague Josh Brown explains why the wirehouse model is dead, in case you missed the meeting.

Friday, February 17, 2012

Shotgun Wedding

Surprise, the forced marriage between Bank of America and Merrill Lynch is doomed. Hat tip, Josh Brown.

Wednesday, February 15, 2012

Life In The Fast Lane

Coming to a pump near you, $5 gas. Call the Doctor, I think I’m gonna crash.

Tuesday, February 14, 2012

Unicorn Found In Central Park!

In a brilliant corporate move, P&G discovers Facebook. Madison Avenue officially on notice.

Monday, February 13, 2012

Planet Apple

The market believes Apple is worth $500B, Facebook sounds like a bargain.

Sunday, February 12, 2012

St. Louis Fed Financial Stress Index looking better ....


As seen in the chart to the left, the St. Louis Federal Reserve Financial Stress Index for February continues to stay at levels that suggest not much financial stress is present in the markets.  This index measure of the amount of financial stress affecting the markets  based on 18 individual variables including seven different interest rates, six interest rate yield spreads, and five measures of market volatility. 


According to the St. Louis Fed, each of the 18 component variables in the Financial Stress Index captures some aspect of financial stress in the markets, and the Financial Stress Index incorporates the 18 variables into a single, composite index measure that tracks the amount of overall financial stress in the markets.   


The chart shows that the St. Louis Fed Financial Stress Index has now returned to the pre-recession, pre-financial crisis levels that prevailed back in the fall of 2007.  While things can clearly change, this does provide some comfort that the investing back drop, while appearing to have some similar observed characteristics as 2007, really doesn't as measured by real life variables.

Friday, February 10, 2012

Stairway To Heaven

Warren Buffett kicks gold to the curb, we’ve been suggesting gold is a bubble for many months.

Thursday, February 9, 2012

Lost Highway

To the surprise of few, banks going to principal’s office over unsavory mortgage securities.

Friday, February 3, 2012

Double Standard

Perhaps they didn’t understand the question? I remind you Senator, you’re under oath.

Wednesday, February 1, 2012

Aces and Eights

Jim Rogers to markets, I don’t get it. Bet against Facebook at your own risk.