views on markets, equities, bonds, derivatives, finance, investing, the economy

What Is Going On in Russia Explained (video)

Video: What's Going On in Russia? The Crisis Explained: Video - Bloomberg:
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2 minute video explains what is going on in Russia--The value of the ruble has plunged against the dollar even as Russia's central bank takes drastic action to try and prop up the currency. Bloomberg's Joe Weisenthal breaks down what happened and what's next.  (12/17 Bloomberg)

Tech insiders, IPOs, cashing out

Tech insiders dumped shares ahead of slide - "....Among insiders to take money out of their companies before going public, early backers of King Digital Entertainment, maker of the Candy Crush Saga game, were paid $504m in dividends in the months before their company went public. The company’s shares ended last week 22 per cent below their March IPO price.

“It’s a yellow flag with regard to what’s really going on with the company,” said Mr Thomas. “It makes you worry what they are trying to sell to investors.”

Three executives at Box, a cloud storage company which has posted big losses and raised questions about whether the recent tech stock rally has made it too easy for companies to become public entities, sold $11m of shares during private financings, according to the company’s prospectus."

Should Investors Stay Away From China? (video)

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A look back to earlier in the year--

Should Investors Stay Away From China?: Video - Bloomberg: "Feb. 10 (Bloomberg) -- BofA Merrill's Ajay Kapur discusses his strategy for investing in emerging markets on Bloomberg Television's "Asia Edge." (Source: Bloomberg)"

Kim Kardashian Changed the Fortunes of Glu Mobile (video)

How Kim Kardashian Changed the Fortunes of One Company -
Nov 7, 2014

Glu Mobile CEO Niccolo De Masi discusses the company's new games and the future of mobile gaming with Bloomberg's Pimm Fox on "Taking Stock." (Source: Bloomberg)

Euronext Will Take Big Hit for Tech Fault says ETX Capital Rundle (Video)

Euronext Will Take Big Hit for Tech Fault: Rundle: Video - Bloomberg:
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ETX Capital Head of Trading Joe Rundle discusses a technical problem at Euronext not allowing indexes to calculate. He speaks with Francine Lacqua on Bloomberg Television’s “On The Move.” (Source: Bloomberg 11/27)

John Bogle, Index Funds, ETFs (video)

John Bogle on the rise of index funds (go to link for video)

The founder of Vanguard explains why his invention [index funds] is winning the battle for assets. Plus: The problem with ETFs, and why we need a transaction tax.

Seer-sucker Theory, Forecasting, Value of Experts

The seer-sucker theory: the value of experts in forecasting | The Big Picture: "Although experts are poor at forecasting change, this does not mean that judgmental forecasting is useless.However, since all available evidence suggests that expertise beyond an easily achieved minimum is of little valuein forecasting change, the most obvious advice is to hire inexpensive experts. Also, look for unbiased experts - thosewho are not actually involved in the situation."

Robinhood video

Robinhood from Robinhood on Vimeo.

For more information about Robinhood please visit

Music by: Yalls
Song: “Leak On”
Video by: Sandwich Video

Josh Brown, Morgan Housel Interview, Pundits

Clash of the Pundits: Morgan Housel Interviews Josh Brown | The Big Picture: "There are a lot of smart investors. There are a lot of entertaining people. There are few of both. Josh Brown, The Reformed Broker blogger is one of them. He is as insightful as he is hilarious, which, after bursting onto the scenes a few years ago, made him almost overnight one of the biggest names in the financial media." - see the video here

TipRanks, Accountability, Financial Markets (video)

How TipRanks Brings Accountability Into Markets: Video - Bloomberg:
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Uri Gruenbaum, co-founder and CEO of TipRanks, explains how the company is bringing accountability into financial markets. He speaks with Elliott Gotkine on "Bottom Line." (Source: Bloomberg--7/8/2014)

13F Data Tips to Help Improve Your Portfolio (video)

13F Data Tips to Help Improve Your Portfolio: Video - Bloomberg:
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Don Steinbrugge, founder of Agecroft Partners, explains how investors can strategically use hedge funds’ 13F filings to improve their portfolio holdings. He speaks on “Market Makers.” (Aug. 15, Bloomberg)

LIVE video, Google Q3 2014, Earnings Conference Call, Press Release, Earnings Slides

Q3 Earnings Conference Call October 16, 2014, 1:30 PM PT / 4:30 PM ET

Press Release: MOUNTAIN VIEW, Calif. – October 16, 2014 - Google Inc. (NASDAQ: GOOG, GOOGL) today announced financial results for the quarter ended September 30, 2014. “Google had another strong performance this quarter, with revenue up 20% year on year, at $16.5 billion,” said Patrick Pichette, CFO of Google.  “We continue to be excited about the growth in our advertising and emerging businesses.”...." (read more at link above)

Earnings Slides [PDF 617k]

Download press release · Download financial data · Open financial data in new window

Swire Properties CEO on Outlook, Property Market (video)

Swire Properties CEO on Outlook, Property Market: Video - Bloomberg:
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Swire Properties Ltd. Chief Executive Officer Martin Cubbon talks about the company's business outlook and strategy in Asia. He also discusses Miami's property market with John Dawson on Bloomberg Television's "First Up." (Source: Bloomberg 3/14)

Bill Gross, Pimco Exit, Bond Market (videos)

Appaloosa Management CEO David Tepper comments on Bill Gross leaving Pimco and what it means for the markets. He speaks with Stephanie Ruhle and Erik Schatzker on "Market Makers." (Source: Bloomberg-Oct 1)

Gross's Pimco Exit Exposes Key Flaws in Bond Market -

Bill Gross’s surprise departure on Friday from Pacific Investment Management sparked selloffs in some of his biggest wagers, such as inflation-protected U.S. government bonds. Lisa Abramowicz and Mary Childs report on "Street Smart." (Source: Bloomberg Oct 1)

US Should Not Use Dollar As A Weapon

U.S. Shouldn't Weaponize the Mighty Dollar - Bloomberg View: "....There is no credible alternative to the dollar because of the size of the U.S. market and because U.S. debt is such a convenient investment instrument. Since the collapse of Bretton Woods, however, the world has lived with a monetary system based in part on goodwill. Here, the dollar is more than U.S. legal tender: It is the embodiment of trust. If the U.S. exploits its ownership prerogatives, other governments may sacrifice convenience to nationalism. For a glimpse of such a future, look to Russia, now aggressively seeking to expand ruble and yuan trade with China, and working slowly, awkwardly, but steadily to hasten the erosion of U.S. monetary dominance."

Fundamental Analysis, Technical Analysis, Misconceptions

The Irrelevant Investor — Some misconceptions: ".... Fundamental analysis can no more tell you what the price of a stock should be than technical analysis can tell you where a stock is going. The truth is, fundamental and technical analysis- although derived differently, are both all about probabilities and risk/reward."

China, New Monetary Order, Currency, Gold Standard?

Chinese Gold Standard? - The New York Sun: "...Instead, Mr. Kwarteng looks to the China, with its nearly $4 trillion in reserves “accumulated through its mercantilist trade policies” that “give it plenty of ammunition to claim leadership in the creation of a new monetary order.” He asks: “Could China someday peg its currency to gold, as Britain did in 1821? China has the reserves to do this, and it could have the political will, if the dollar proved to be unreliable as a store of value in the future.” He suggests that there could be a renminbi pegged to gold within a generation."

Leon Cooperman, Amazing Career

Alpha addict: The amazing career of Leon Cooperman: "..."The way to be successful is do what you love and love what you do," Cooperman said this month in an interview. "I get paid normally a lot of money for basically doing something I enjoy doing. And what I enjoy is to hunt—finding something somebody else doesn't see, making a bet and having Mr. Market prove me right." Mr. Market has indeed smiled on Lee Cooperman, making the 71-year-old South Bronx native a billionaire. A maniacal focus on picking undervalued companies combined with the hard work and frugality of someone who came from little have led to a nearly unparalleled track record of investment returns for longer than most people have worked on Wall Street...."

Walmart, A CEO Fired

It's About Time: Walmart Unexpectedly Fires U.S. CEO Bill Simon: "My worries about Walmart persist.  There are some profound questions that need to be answered.  Is Walmart too mature and too bureaucratic to be molded into a new model? Can store associates be retrained? Can stores become leaders again through innovative creative store managers? Greg Foran has an opportunity to show he is an inspired leader with creative skills.  But the opportunity will not last long as Walmart, and all of today's leading retailers, are being challenged by new entrants into the market place and by the Internet.  These challengers are relentless in their drive to offer great values, timely relevant fashions, and speedy, free shipping."

Jeffrey Gundlach, Interest Rates

Jeffrey Gundlach On Rates - Business Insider: "..."It's really hard for me to identify why rates should go higher," said Jeffrey Gundlach of DoubleLine Funds. In a phone call with Business Insider, Gundlach reiterated his expectation for the 10-year yield to trade between 2.2% and 2.8%, with the risk that it goes below 2.2%...."

The Royal Mail Mispricing Fiasco

Don't blame the government bureaucrats--it's on the banks that handled the IPO--Goldman Sachs, UBS, Barclays and Merrill Lynch, with Investec, Nomura and RBC Europe as lead managers, and Lazard who advised the UK government--

Governments Make Lousy Traders - Bloomberg View: "... The real question is how did these banks and the brilliant people who work at them get the IPO pricing so wrong? Every newly public company -- along with investors who buy the shares -- wants to see the stock rise after it starts trading. But to misjudge the potential for appreciation by a factor of almost 50 percent in less than a year after the offering demands some kind of explanation... The Business Committee has made a decent effort at providing one. "Fear of failure and poor quality advice led to a significant underestimate of the demand for Royal Mail shares," the committee said in a statement... Royal Mail was the biggest share sale in Europe since April 2011, when Glencore Xstrata raised $10 billion. Maybe it's understandable that after such an extended period of time with not much to practice on there was a fear of failure. It's the second part of the committee's accusation -- the chastising of Cable -- that should receive more attention because it is largely misplaced.... That's why all those shiny investment banks were hired -- for their alleged deal-making expertise. In the nine months leading up to the Royal Mail sale, Goldman alone handled more than 200 deals worth $440 billion, according to data compiled by Bloomberg; the other three bookrunners shared almost a trillion dollars of business in almost 400 transactions. They, not Cable, should be taken to task for the "significant value" that the committee says U.K. taxpayers missed out on."

Is High-Frequency Trading Fair? (video)

Is High-Frequency Trading Fair to Everyone?: Video - Bloomberg:
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Hain Celestial Group CEO Irwin Simon, Charles Griffin Intelligence's Philip Segal and Bloomberg's Keri Geiger debate whether high-frequency trading is fair to everyone. They speak with Trish Regan on Bloomberg Television's "Street Smart." (Source: Bloomberg, June 17, 2014)

Fear of Equities, Cash is King

Fear of Equities Drives More Investors to Cash - ". . . . He suggested cash could be a safety net for some. For others it could be money held in reserve for a future market decline. Still, Mr. Clemons sees continued value in holding cash, even though it neither grows nor offers a return like other assets. “If you believe future volatility will increase, the option value of cash increases and outpaces the return on a money market fund,” he said. “It’s a little theoretical, but it represents potential buying power.” Yet he drew a line at 50 percent of a portfolio in cash because of the impact that even moderate inflation would have on that money. At 2 percent inflation, for example, $1 million would be the equivalent of $615,000 in 25 years. Whatever the outcome, for Ms. Duncan, investors clinging to cash around the world confirmed her belief about the magnitude of the psychological effect of the financial crisis. “We are accustomed to thinking about other crises like the dot-com crash,” she said. “In this case investors haven’t come back because they were painfully affected by the financial crisis. It’s interesting to see if the buy high/sell low pattern comes into play in a couple of years.” Until then, the mattresses may stay stuffed."

Venezuela, Prostitutes, Currency Tricks (video)

Venezuelan Prostitutes Turn Currency Tricks: Video - Bloomberg:
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Prostitution is legal in Venezuela but currency trading by individuals isn't. None of this would matter if the economy in Venezuela wasn't in such a mess, as Bloomberg's Katia Porzecanski reports. (Source: Bloomberg June 11)

China’s Credit Dilemma (video)

China’s Credit Dilemma: Video - Bloomberg:
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Bloomberg’s Zeb Eckert takes a look at China’s credit expansion on Bloomberg Television’s “On The Move Asia. (Source: Bloomberg June 5)

Investing Opportunities in Miami, Melbourne (video)

Investing Opportunities in Miami, Melbourne: Candy: Video - Bloomberg:
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Nicholas Candy, CEO of Candy & Candy, discusses secondary cities around the world where he sees investing opportunities. He speaks on Bloomberg Television’s “On The Move.” (Source: Bloomberg May 8)

Bitcoin Jesus, the Rich, Tax-Free Paradise (video)

‘Bitcoin Jesus’ Calls the Rich to Tax-Free Paradise: Video - Bloomberg:
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He’s known as Bitcoin Jesus in the world of cyber-currencies. Though he can’t promise you heaven, he is offering a haven: a condo in the Caribbean that comes with a new passport and almost zero taxes. Betty Liu reports on “Movers & Shakers” on Bloomberg Television’s “In The Loop.” (Source: Bloomberg June 16)

Sam Zell: Stock Market Is Overvalued (video)

Sam Zell: Stock Market Is Overvalued | Video | RealClearMarkets: "Billionaire real-estate tycoon Sam Zell says investors are way too optimistic and that’s pushed the stock market to overvalued levels. The chairman of Equity Group Investments told CNBC he’s not suggesting that things are terrible, but is worried that “we’re missing an awful lot of bounce. The stock market would have suggested that everything is kumbaya. I think there is a real discrepancy between the two.”"

US Report Questions Alibaba Legal Structure

U.S. Report Casts Doubt on Legal Structure of Alibaba, Other Chinese Firms - WSJ: "A U.S. government commission warned that investors face "major risks'' if they buy shares in Chinese companies like e-commerce firm Alibaba Group Holding Ltd. A report released this week by a commission that advises Congress on U.S.-China economic issues took aim at the legal structure underpinning Alibaba as well as a host of other Chinese Internet firms, calling it "a complex and highly risky scheme of legal arrangements." It warned that the structure could lead to losses by shareholders in the U.S. "U.S. shareholders face major risks from the complexity and purpose" of the structure, said the report, released on Wednesday by the U.S.-China Economic and Security Review Commission. The group, an independent agency directed by Congress, has in the past issued critical reports about China." (read more at link above)

Steve Schwarzman, Opportunities in the Current Market, Warnings (video)

Schwarzman: Individuals Need More Alternatives: Video - Bloomberg:
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Steve Schwarzman, chairman/CEO at Blackstone, discusses the latest round of sanctions against individuals and companies in Russia, where he sees opportunities in the current market, and offers his warnings to tech industry investors from the 2014 Milken Global Conference on Bloomberg Television’s “Market Makers.”

Mark Mobius on Where to Invest in India (video)

Mark Mobius: Where to Invest in India: Video - Bloomberg:
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Mark Mobius, executive chairman of Templeton Emerging Markets, talks about India's election, the nation's economy and stock market. He also talks about Sun Pharmaceutical Industries' agreement to buy Ranbaxy Laboratories Ltd., political tensions in Ukraine, China stocks, and investment opportunities in frontier markets. Mobius speaks in Hong Kong with Angie Lau and Rishaad Salamat on Bloomberg Television's "Asia Edge." (Source: Bloomberg, Apr7)

Small Banks, Making Big Money (video)

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Here’s How Some Small Banks are Making Big Money: Video - Bloomberg: On “Insight & Action,” Bloomberg’s Adam Johnson looks at the health of small banks on Bloomberg Television’s “Lunch Money.” (2/2014, Bloomberg TV)

Roubini: QE From ECB Likely Too Little Too Late (video)

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Roubini: QE From ECB Likely Too Little Too Late: Video - Bloomberg: April 4 (Bloomberg) -- Nouriel Roubini, chairman of Roubini Global Economics LLC and a professor at New York University, discusses the U.S. ecomomy and the possibility of the European Central Bank implementing a program of quantitative easing. He speaks with Francine Lacqua on Bloomberg Television's "The Pulse" from the Ambrosetti Workshop in Cernobbio, Italy. (Source: Bloomberg)

Roubini, Beware US Market Correction This Year (video)

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Roubini: Beware of U.S. Market Correction This Year: Video - Bloomberg: "April 4 (Bloomberg) -- Nouriel Roubini, chairman of Roubini Global Economics LLC and a professor at New York University, discusses the U.S. ecomomy with Francine Lacqua on Bloomberg Television's "The Pulse" from the Ambrosetti Workshop in Cernobbio, Italy." (Source: Bloomberg)

Michael Lewis says Programmers Have Replaced Traders (video)

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Michael Lewis: Programmers Have Replaced Traders: Video - Bloomberg: "April 3 (Bloomberg) -- “Flash Boys” Author Michael Lewis and IEX President and CEO Brad Katsuyama discuss information tech on Wall Street on Bloomberg Television’s “Bloomberg Surveillance.” (Source: Bloomberg)"

Zervos on Yellen, Investment Strategy (video)

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Jefferies' Zervos on Yellen, Investment Strategy: Video - Bloomberg: "March 21 (Bloomberg) -- David Zervos, chief market strategist at Jefferies & Co., talks about Janet Yellen's first news conference as head of the Federal Reserve and his investment strategy. Zervos speaks with Tom Keene and Alix Steel on Bloomberg Television's "Market Makers." (Source: Bloomberg)"

Warren Buffett, 5 key investing tips

Warren Buffett's 5 key investing don'ts:
1. Don't let world events (like what's happening in Ukraine) affect your investing decisions....

2. Don't feel bad when stocks go down....

3. Don't think you have to be an expert to profit from stocks....

4. Don't go for the quick profit...

5. "Don't put your money into bitcoins for the long run."
"It's not a currency. It does not meet the test of a currency. I wouldn't be surprised if it's not around in 10 or 20 years. ... It is not a durable means of exchange. It's not a store of value. ... It's been a speculative—a very speculative—kind of Buck Rogers-type thing, and people buy and sell them because they hope they go up or down just like they did with tulip bulbs a long time ago." (read more at the link above)

Too Big to Fail, Big and Getting Bigger

The Man With the Gold Makes the Rules --

Too Big to Fail Is Bigger Than You Think - Bloomberg View: "Problem is, too-big-to-fail status is an asset in itself. If equity investors expect to benefit from government bailouts in the future, they will place a higher value on the bank's stock today. As a result, the measured distance to default will also be greater, and the bank's counterfactual cost of borrowing -- along with the estimate of its taxpayer subsidy -- will be erroneously low. . . . It's crucial that we get our math as right as we can when measuring the taxpayer subsidy. As long as it exists, we're giving banks the wrong incentives."

Doom Scenario, US and EU are not different

At least read the final paragraphs. (source)

John Melloy, Stocktwits, Financial Web Future

Welcome John Melloy our New Stocktwits CEO...and The Future of The Financial Web - The 'Richest Niche'! | Trends... Find them, ride them and get off.Trends… Find them, ride them and get off.: "In 2008, there was no GNIP, no Zapier (wicked cool Stocktwits integrations) and I did not know an API from an RBI. The iPhone was just getting started and there was no Android. Today, I can consume trending tickers all day on my iPhone and work through ideas in real time with some of the best investors in the world. Today, Stocktwits has over 400 API partners pulling our streams and data to build and display. The niche will be big in 2014 (I say that every year), but this time Fred Wilson agrees (read all the comments as it is a great conversation). In 2014, you will see us improve/expand our search features, use email and mobile alerts in more interesting ways and make it easy for anyone that wants to share financial ideas or just banter, do so. If you want to be a good investor, you journal. It’s our job to make Stocktwits the best place to do that and the good news is, it helps us become the place for everyone who does not want to journal, to browse for ideas." (read more at link above)

Michael Steinhardt, Reinventing Investing

Michael Steinhardt, Wall Street's Greatest Trader, Is Back -- And He's Reinventing Investing Again - Forbes: " . . .  Exchange-traded funds typically charge lower fees and have tax-advantages over traditional mutual funds. They are also completely transparent: An obsessive-compulsive ETF investor can check his fund’s holdings daily, rather than quarterly, as is the norm for most mutual funds. This magic combination–cheaper with lower taxes and greater transparency (and often for the same underlying investment)–means that over time ETFs will eat the lunch of the $12.1 trillion (assets) mutual fund industry...." (read more at the link above)

Reshoring Manufacturing

Not your father's Offshoring -

As Overseas Costs Rise, More U.S. Companies Are 'Reshoring' : Parallels : NPR: "For decades, American companies have been sending their manufacturing work overseas. Extremely low wages in places like China, Vietnam and the Philippines reduced costs and translated into cheaper prices for consumers wanting flat-screen TVs, dishwashers and a range of gadgets. But now a growing number of American companies are reversing that trend, bringing manufacturing back to the United States in a trend known as "reshoring."..." (read more at the link above)

QE, Stock Market Bubbles, Bond Market Bubbles

Past time to quit QE --

Mish's Global Economic Trend Analysis: Fed Admits It's Clueless How QE Works; Radical Suggestion: " . . . While these Fed governors are grasping at straws in a tornado bickering over whether to taper or not, let me propose a simple idea: The Fed cannot figure out how QE works because QE doesn't work. Two decades of Japanese QE is sufficient  proof. In the US, the Fed did ignite massive stock and bond market bubbles, but who in their right mind thinks bubbles are a measure of success? All of the Fed's modeling is nothing more than a chasing one's tail exercise of economic stupidity.  Simply put, the Fed is nothing more than a bunch of Soviet-style central planners with inflated opinions about what they can or cannot do. . . ."

Investment Behaviors, Individual Investors

The richest niche, twitter, financial tweets

Financial TV asynchronous vs Twitter's big net --

Inside “the richest niche there is” — StockTwits announces new CEO, funding | PandoDaily: "... The biggest sign that StockTwits may be building something interesting was CNBC’s reaction to Melloy’s departure. The news that Melloy was joining StockTwits leaked several months ago, when BuzzFeed reported that the network was considering a breach of contract lawsuit since StockTwits is essentially a media company....StockTwits was an important tool for Melloy at CNBC, where he was in charge of shows like FastMoney. The constant flow of bull/bear opinions on stocks was a useful way to find stories as they were happening. For a news network that has to fill, fill, fill for 17 hours a day, it provided a valuable stream of consciousness feed of what viewers and traders were thinking at any given moment. “It helped guide my news judgement,” he says...."

Financial News or Financial Entertainment

The future of financial TV may be "limited" --

Inside “the richest niche there is” — StockTwits announces new CEO, funding | PandoDaily: " . . . That said, there’s a big difference between journalism and curation. Not just anyone can sit in an anchor or guest chair at CNBC, but anyone can Tweet and throw a dollar sign tag in there. The user generated controls of StockTwits might miss an impending financial collapse like the one experienced in 2008, oh, wait a minute… CNBC was mostly as shocked as everyone else when Lehman collapsed.
That’s not a totally fair jab, but it speaks to the lingering mistrust that networks like CNBC are more entertainment than financial advice. As Jim Cramer said in the above “Daily Show” link part of the problem is they “have” to fill 17 hours of content a day. . . ."

Fiat Won Big in Chrysler Deal (video)

Here’s Why Fiat Wins Big in $4.35B Chrysler Deal: Video - Bloomberg: "Jan. 2 (Bloomberg) -- Bloomberg News’ Jamie Butters and Matt Miller break down Fiat’s deal to purchase the remaining stake in Chrysler on Bloomberg Television’s “Market Makers.”"

China, Its Economy, 2014 (video)

Where Is China's Economy Headed in 2014?: Video - Bloomberg: "Jan. 2 (Bloomberg) -- Mark Konyn, CEO of Cathay Conning Asset Management, discusses the state of China's economy and the impact of Federal Reserve monetary policy on Asian markets. He speaks with Angie Lau and Rishaad Salamat on Bloomberg Television's "Asia Edge." (Source: Bloomberg)"

Loan modification ‘boiler room’ scam

Real Estate Mortgages underwater, scam operators --

Ten indicted for stealing $7M in loan modification ‘boiler room’ scam - South Florida Business Journal: "Federal authorities indicted 10 people in South Florida for stealing more than $7 million from homeowners seeking mortgage modifications...." (read more at link above)

The Future of Money (video)

What Is the Future of Money?: Video - Bloomberg: "MIT Technology Review Business Editor Antonio Regalado discusses the future of money in a digital world with Deirdre Bolton on Bloomberg Television's "Money Moves." (Source: Bloomberg)"

Economic Illiteracy, Economists, Inflation, Jobs

Mish's Global Economic Trend Analysis: Economic Illiterate Proposal: "Inflation Creates Jobs"; Inflation Economics 101: "....Yes, inflation helped create a massive housing boom. Builders employed like mad. Speculators built condo towers in Florida, Phoenix, Las Vegas, and numerous cities in California. It was a grand party. All based on inflation. Then the bubble burst. Then a consortium of economic jackasses came along saying we need more inflation (as if the cure was the same as the disease). The Fed tried, and tried and tried. However, the Fed did not create enough inflation to satisfy the monetarist jackasses, but it did create bubbles in stocks and bonds. Benefits flowed to the banks, the corporations, and the already wealthy. That gave rise to still more economic lunacy regarding income distribution...."

Market Wisdom Replaced By Political Force

RealClearMarkets - Market Wisdom Replaced By Political Force: "...In the end, the obfuscation of price signals through overzealous regulation or emergency tactic will always prove unsatisfactory for market participants. Over time, policymakers and regulators too will likely become frustrated in efforts to understand markets that they have already manipulated. Government interference should be limited to supporting a stable and predictable marketplace that encourages private decision-making. Otherwise, the wisdom of markets is replaced by the whims of those serving up the punch."

Morgan Housel with Barry Ritholtz (video)

Morgan Housel with Barry Ritholtz - 
(pub. Dec 16, 2013)
Investing made simple: The Motley Fool's essential guide to investing is now available to the public, free of cost, at This resource was designed to cover everything that new investors need to know to get started today.

Secret Currency Traders Club, Fixed Biggest Market Rates

Secret Currency Traders’ Club Devised Biggest Market’s Rates - Bloomberg: "....The allegations of collusion undermine one of society’s fundamental principles -- how money is valued. The possibility that a handful of traders clustered in a closed electronic network could skew the worth of global currencies for their own gain without detection points to a lack of oversight by employers and regulators. Since funds buy and sell billions of dollars of currency each month at the 4 p.m. WM/Reuters rates, which are determined by calculating the median of all trades during a 60-second period, that means less money in the pension and savings accounts of investors around the world...."

Business - Google News

Credit Writedowns

Central Banking