Dick Bove: US Dollar Will Be ‘Overthrown’ as World’s Reserve Currency
There’s plenty of evidence supporting the belief that the dollar’s days as the preeminent currency are coming to an end, a development that would be catastrophic for the world’s largest economy.
“Generally speaking, it is not believed by the vast majority that the American dollar will be overthrown,” Dick Bove, vice president of equity research at Rafferty Capital Markets, said in [...]
from Gold Silver Worlds:
The newest “Thunder Road Report” appeared today. The author Ted Ferguson (associated to Seymour Pierce Equity Research) always succeeds in bringing an well researched message. In his latest edition, titled “Silver: right now (probably) the best asset in the world” he focuses on silver and its prospects.
This newest edition counts some 8 pages goes and the summary invites you to read the whole document:
“For more than a century, the silver price [...]
By Vedran Vuk, Casey Research
How far is the Fed from reaching the bottom of its ammunition box?
Well, both Mario Draghi and Ben Bernanke said no to yet more monetary stimulus last week.
Wall Street unsurprisingly was disappointed.
Wall Street expected more stimulus, as institutional investors are analyzing monetary policy from their own perspective rather than the central bank’s viewpoint – understandable, but a big mistake.
Wall Street’s Conundrum: with the S&P 500 up less than [...]
Facebook will start trading publicly today. Valued at $104 billion, it will be the third biggest IPO in U.S. history.
But Barry Ritholtz, market commentator and CEO/director for equity research for Fusion IQ, reminds us there’s a difference between a good company and a good investment.
In an interview with Bloomberg TV, Ritholtz said historically IPOs have been money losers and said Facebook shares at $38 or higher are not a wise investment:
“Given the hype and excitement about this, [...]
by Brian Rogers of Fator Securities
Can Brazil Get Its Groove Back?
“Ever since I was a little girl I always heard Brazil was the country of the future. Now that the future is here, I am starting to fear it will be brief,”
- Cynthia Benedetto, the chief financial officer of Brazil’s flagship manufacturing firm, Embraer SA, the world’s No. 3 jet maker
Is the Samba Beat in Brazil A Little Off-Key [...]
In fact, in the 2d quarter 2010 BA earned $3.1 billion, or 27 cents a share.
As reported, in the 3d quarter 2010 BA reported a net loss of $7.3 billion, or 77 cents a share (76 cents in my link, but let’s not quibble).
In the 4th quarter 2010 BA reported reported a net loss of $1.2 billion, or $0.16 per diluted share.
In the 1st quarter 2011 BA reported a net income (profit) of $2.0 [...]
Wondering why you may not have heard of hacking collective Anonymous for a while? Because, as it appears, the ad hoc organization has been busy assembling Anonymous Analytics, a public equity research entity (and we venture to guess focused mostly on the short side) whose motto is “Acquiring information through unconventional means” and follows up with “You should have expected us.” Think of them [...]
Jeff Cox, CNBC.com
“Little gremlins” have proposed a massive government-sponsored mortgage refinancing program for struggling homeowners that is doomed to fail, analyst Dick Bove said.
In a scathing note and subsequent CNBC appearance, the Rochdale Securities vice president of equity research said the Obama Administration’s plans will foist new costs on both taxpayers and the banking industry.
Under the plan, homeowners suffering under previously negotiated high rates will be [...]
By Robert Powell, MarketWatch
BOSTON (MarketWatch) — It’s not a recession yet. Neither comprehensive data for July nor the more spotty data for August confirm this, according to David Kelly, chief market strategist for J.P. Morgan Funds.
But saying it’s so will probably make it so. “Overall, the chorus of economists and strategists predicting recession has grown louder in recent days and the withering impact of these [...]
The “High End” Bubble
It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity, it was the season of Light, it was the season of Darkness, it was the spring of hope, it was the winter of despair, we had [...]
Yan Chen, head of metals and mining for Standard Chartered Equity Research, talks about the outlook for the price of gold. Chen speaks in Hong Kong with Rishaad Salamat on Bloomberg Television’s “On the Move Asia.” (Source: Bloomberg)
The Federal Reserve is like a drug addict, according to presidential candidate and Congressman Ron Paul, notorious for his hatred of the Fed and love of gold.
In a recent interview with TheStreet, Dr. Paul likened the Fed to a drug addict unable to stop printing money as no one wanted to go through the pain of withdrawl. The libertarian Congressman, however, believes that Congress will [...]
The end of QE2, and the unwinding of government and Fed stimulus, will lead to a massive depression according to former Fed economist Richard Koo.
In a report on May 17th by Mr. Koo regarding Federal Reserve stimulus and Quantitative Easing programs, much of the current run in the stock market, equities, and commodities has been primarily achieved through money printing, and not by market and [...]