I am in Argentina today, but still have found time to read a rather provocative speech by David Einhorn, who is President of Greenlight Capital , a "long-short value-oriented hedge fund", which he began in 1996. Einhorn has long been a critic of the current investment banking business, and...
In This Issue: The Economy Continues to Improve Slowly Plunge in Commercial Real Estate Values More Trouble Ahead for the Banks Glut of Commercial Mortgage-Backed Securities Personal: Thinking Wrong, But Getting It Right Introduction There is broad agreement that we have seen the worst of the recession...
This week I offer two short essays for your reading pleasure in Outside the Box. The first is from Ambrose Evans-Pritchard writing in the London Telegraph. He gives some more specifics about the situation in Europe I wrote about this weekend. He ends with the following sober quote: "My awful fear...
Posted to
John Mauldin's Outside the Box
by
John Mauldin
on
07-20-2009
Filed under:
Filed under: Japan, GDP, Paul McCulley, Banks, Pimco, Europe, European Banks, Ben Bernanke, Paul Krugman, Britain, Ambrose Evans-Pritchard
Europe on the Brink And Then There Was Leverage Too Big To Save Those Wild and Crazy Swiss A Positive Third Quarter? New York and Maine We have avoided Armageddon, at least for now. The cost to the US taxpayer has been a few trillion. Some in the media are loudly announcing the end of the recession....
It has long been my contention that we are entering an extraordinary period of time in which using historical analogies to plot market behavior is going to become increasingly problematical. In short, the analogies, the past performance if you will, all break down because the underlying economic backdrop...