Day

June 19, 2012
I think this is a very intelligent article written by Dick Bove of Rochdale Securities.  In the article he argues that the best way to stimulate the economy would be to take off the handcuffs that Dodd-Frank has put on the banks.  Because various types of consumer loans have higher capital requirements and risk weightings,...
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I agree 100% with Meredith Whitney when she says that the JP Morgan trades were prop trades.  It is rare for me to agree with Whitney but calling them anything else would simply be inaccurate.  A greater question is whether or not there is anything wrong with this.  I don’t have a problem with banks...
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I thought Jamie Dimon handled himself very well in front of Congress.  While so much has been made about this trading loss, which really is relatively small compared to the size of the firm, the bigger issue is on the transparency of banking operations.  No bank should engage in financial dealings that aren’t understandable to...
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In an interesting deal Warren Buffett’s Berkshire Hathaway is potentially going to fund the development of a new mine and refinery for Tungsten in South Korea.  This partnership with Woulfe Mining Corp (WOF) would be in response to export curbs on raw rare metals from China which has been jacking up prices.  The investment would...
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Yesterday Microsoft (MSFT) unveiled its own table to compete with the IPad.  This marks a huge change in strategy as Microsoft will be increasing the size of its bets on making hardware, which is a much lower margin business than their core software business.  I think technology has changed in a way where software companies...
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Walgreen (WAG) is acquiring a 45 percent stake in the U.K. drugstore chain Alliance Boots for $6.7 billion. The stated purpose of this acquisition is to gain global scale but I don’t think the timing is very good.  Alliance Boots traded at distressed levels a couple of years back do to a large debt load,...
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