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Thoughts on the Continuing Crisis Margin Clerks of the World, Unite! Where Do We Find New Sources of Credit? In Defense of Alan Greenspan What Now for Gold, Oil, Etc? Baseball, Mexico, and Travel Costs My essay in Outside the Box last Monday seemed to ignite a lot of response in the blogosphere. My basic...
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The subprime problem, we were told, would not spread to other markets. It would be "contained." And it has, according to Jim Grant. He quipped last week that it has been contained on planet Earth. The risks coming from rising defaults in the US (now above 600,000 and rising from just 200,000...
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Market Mayhem & Credit Fears - What's Next? IN THIS ISSUE: 1. The Economy - The News Is Not All Bad 2. Consumer Spending Remains Firm For Now 3. Housing & Subprime - More Bad News 4. Should The Government Come To The Rescue? 5. The Fed Needs To Act On September 18 6. BCA's Latest Analysis...
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Is A Subprime Recession Inevitable? IN THIS ISSUE: 1. Stocks - Correction Or New Bear Market? 2. Consumer Confidence & Spending Remain Key 3. A Look At Previous Credit Crunches 4. How Bad Is The Subprime Mortgage Problem? 5. Crisis In Confidence 6. Are Subprime Fears Overblown? 7. Fed To The Rescue...
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Introduction Who should we blame for the problems in the credit markets? This week in Outside the Box my good friend Barry Ritholtz takes on the task of pointing his prodigious finger at the guilty parties. As he notes, there is plenty of guilt to go around. This is a problem that is going to stay with...
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The Panic of 2007 Muddle Through or End of the World? An Alphabet Soup of Credit Turning Nuclear Waste Into Gold (and Back Again!) Mrs. Watanabe and the Hedge Fund Connection The Rating Agency Blame Game Where Do We Go From Here? Hedge Funds to the Rescue! Warren Buffett Needs to Take Over Moody's...
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The Subprime Virus The Subprime Virus 2007 Mid-Year Forecast Compete With the Pros When the Facts Change Credit? What Credit? global Warming, Maine and San Antonio As predicted in this letter early this year, the credit markets have finally begun to tighten, as a major re-pricing of risk is underway...
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Introduction This Week in Outside the Box we Join Bill Gross of Pimco in his July 2007 Investment Outlook as he strives to address the implications of the Bear Stearns hedge fund debacle, the toxic waste that is Wall Streets' innovative derivative products and their respective valuation, rather,...
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Fun in the Subprime Summer Hot Fun In The Summertime Collateralized Loan Obligations The Economic Outlook for Leveraged Credits The New Mickey Mouse Club Planes, Trains and Automobiles This week I am already in Maine and getting ready for a weekend of fishing with my son Trey, so I am going to take off...
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Introduction This week we continue to look at an alphabet soup of problems: RMBSs, CDOs, Alt-A, BBB and - a new acronym to put on your radar screen - the very useful CDS. When does an AAA rating not mean an offering is ready for prime time? What type of contagion are we seeing from the Bear Stearns blow...