SUCH A FINE LINE BETWEEN STUPID AND CLEVER

Today’s letter is sure to enrage all of my libertarian and conservative pals, but here it goes nonetheless. My right wing friends love to point to the ballooning government debt and claim it needs to be instantly reigned in. These...

PUT A FORK IN IT! DEUTSCHE BANK IS COOKED

Badly in need of a lift, Merriwether called an old friend, Vinny Mattone, who had been the fund’s first contact at Bear Stearns. Mattone, who had retired, was everything that J.M.’s elegant professors were not. He wore a gold chain...

SOME PIGS ARE MORE EQUAL THAN OTHERS

In early summer, as the markets were reeling from the unexpected British vote to leave the EU, Italian banks came under pressure. Worried it might spread to a full blown panic, Italian politicians and banking officials prepared for the possibility...

AS OLD AS THE HILLS

Every day as I flip through my research I am inundated with “end of the world calls.” Bob Janjuah type calamitous predictions are now common place. Heck, some prominent hedge fund managers have even created their own websites warning about...

FAKING OUT THE MARKETS

Another Fed meeting has passed, and once again Federal Reserve officials have talked a good game in terms of raising rates, but have done nothing. I was especially intrigued by yesterday’s question and answer period that followed Yellen’s press conference....