SeekingAlpha.com (Free subscription) | 11 hours ago
Felix Salmon submits: I am pleased, proud and honoured that Willem Buiter has chosen the comments section of my blog to make what is as far as I know his first public statement since being appointed Citigroup’s ( C ) chief economist: I joined Citi for two reasons. First, because Citi is the one truly global bank. Second, because Citi is an institution that, following its challenges...
John At CIFT (Free subscription) | yesterday
... invest for the very long term, taking advantage of the higher returns on illiquid investments. via Felix Salmon » Blog Archive » How Larry Summers lost Harvard $1.8 billion Blogs .
SeekingAlpha.com (Free subscription) | 27/11/2009
Felix Salmon submits: Paul Krugman today argues in favor of a financial-transactions tax on the grounds that it would discourage over-reliance on ultra-short-term repo markets, among other reasons. In other words, reliance on repos is a bad thing, and it’s a good idea for government policy to “nudge” financial institutions away from it. That’s something that opponents...
rickwebb.net (Free subscription) | 24/11/2009
Felix Salmon: Henry Blodget Should Be Banned From The Industry : typepad/alleyinsider/silicon_alley_insider (Silicon Alley Insider) :p. I’m no Blodget fan, but this rebuttal to Felix Salmon’s complaints is pretty hilarious.
The Reformed Broker (Free subscription) | 25/11/2009
Stuff I’m Reading this Morning… Goldman Sachs on how to trade the end of the year. (PragCap) The coffee wars have begun. (CrossingWallStreet) Does Felix Salmon own the internet? Have you registered with him yet? (MoneyIsTheWay) India is not finished with its IMF gold purchases. (ZeroHedge) Jeff Saut on what “performance chasing” means to the market going into...
DealBreaker (Free subscription) | yesterday
Feeling bashful? Here, a recent hire -- Willem Buiter, as Chief Economist-- will start : "Citigroup - a conglomeration of worst-practice from across the financial spectrum." Now you go. Quotes of the Day: Buiter On Citi [Felix Salmon] Felix Salmon - Citigroup - Business - Financial Services - Financial Planning
Credit Writedowns (Free subscription) | 1 hour ago
Morgan Stanley fears UK sovereign debt crisis in 2010 – Telegraph Goldman Staff Packing Pistols to Defend Against Peasants – Yves Smith FT.com | Willem Buiter’s Maverecon | Πάντα ῥεῖ (Mavercon is dead.) interfluidity – Good financial innovation: small business equity investing Felix Salmon – Buiter comments Will Consumption...
Interfluidity (Free subscription) | 11 hours ago
Felix Salmon has been on a tear lately. If you haven't already, go read his fantastic post on the appalling double standard whereunder human creditors are morally bound to repay all loans while business debtors have a duty to default whenever they find advantage in doing so. In another great post, ...
PSD Blog - World Bank Group (Free subscription) | yesterday
Last Wednesday, before heading to California for the long Thanksgiving weekend, I wrote that "Dubai is looking to be the ultimate boom and bust story". As the weekend progressed, things halfway around the world went from bad to worse. The latest news is that the Government of Dubai will not stand behind the debt of its wholly-owned subsidiary, Dubai World. Felix Salmon likens...
SeekingAlpha.com (Free subscription) | yesterday
Felix Salmon submits: Fama and French have a very long blog entry (over 5,000 words) about the latest version of their paper on mutual fund returns. As you might expect from research sponsored by an index-fund company, it shows that active mutual-fund managers fail to outperform the market. But at least it does so with pretty charts. Here’s what happens when you compare actual...
SeekingAlpha.com (Free subscription) | yesterday
Felix Salmon submits: If a home is not an investment , what about a Treasury bond? In my comments, Dan responds forcefully to Urban Legend , who was trying to make the case that low interest rates do a lot of harm to those poor millionaires looking to live on their risk-free interest payments alone: If you think it is reasonable to get a 5% return on top of inflation without taking risk,...
kevin drum (Free subscription) | yesterday
The Financial Stability Board (what a great name!) has created a list of the world's top 30 "systemically important" financial institutions — aka banks that are too big to fail. Citi and BofA make the list; Wells Fargo doesn't. If you were in charge of Wells, would you be pleased or annoyed? Via Felix Salmon, who wants to know why there are no American insurers on the...
SeekingAlpha.com (Free subscription) | yesterday
Felix Salmon submits: The FT has the list of 30 international financial institutions which the international Financial Stability Board considers systemically important. The first thing to jump out from the list is that just 5 of the 30 companies are American, and none of the six insurers: the likes of Mizuho ( MFG ), Intesa and Aviva are considered systemically important, while, say,...
The Business Insider (Free subscription) | yesterday
On his blog, Willem Buiter ocne called Citi "a conglomeration of worst-practice from across the financial spectrum" back in April. Now he's been hired as the bank's chief economist. In his blog for the Financial Times , the economist Willem Buiter also said "too big to fail means too big," and "there is no economic reason for large banks." As Felix Salmon...
The Business Insider (Free subscription) | yesterday
Felix Salmon noted this weekend that the US dollar didn't see much of a bounce from the latest turmoil, which is, perhaps, an ominous canary in the coalmine. In a new note, Morgan Stanley is observing the same thing: Is this the best the USD can do in the face of risk retrenchment? While the USD responded very strongly to signs of financial market frictions and deleveraging among market...
