Libertarian billionaire warns of ‘financial Armageddon’ after U.S. election

Jim Rogers is a libertarian-minded billionairewho made the bulk of his fortune with progressive George Soros when they partnered in running the Quantum Fund. Both men are highly respected in financial circles. Since their split Rogers has moved to Singapore to run his investment business and recently has been advising Americans to buy farmland and dump stocks as he sees growing value in commodities. He is also strongly advising individuals and governments around the globe to [...]

This Is Your Energy Entry Point: Mark Lackey

Zig Lambo of The Energy Report (8/30/12)

Oil prices are starting to creep back up while gas, coal and uranium are poised for moves this fall, according to Mark Lackey, long-time energy analyst now representing resource companies with the IR firm of CHF Investor Relations. In this exclusive interview with The Energy Report, Mark shares his current insights on energy markets and talks about a number of companies he thinks are [...]

Another Madoff in cuffs: Bernie’s little brother arrested by FBI and set to plead guilty over Ponzi scheme

Peter Madoff, 66, taken into custody today and will appear in court later
Is expected to plead guilty to conspiracy and falsifying records
Plea to take place where Bernie Madoff taken away after being condemned to 150 years in prison

The younger brother of Bernard Madoff, who became an icon for financial crime after the economy collapsed in 2008, is poised to plead guilty to criminal charges and take his place in history [...]

Fleck: Investors, It’s Time To Face The Truth

I have been in the investment business for more than 30 years now, so I have grown accustomed to seeing lunacy, naiveté and just plain stupidity more often than one would think possible, given that investing is supposed to be about being smart.

It seems extraordinarily obvious to me that the economy is, in essence, broken because of the stock and housing bubbles we have experienced, and that the Federal Reserve [...]

Robert Zoellick: The survival of the eurozone now depends on Italy and Spain. They are the countries that are too big to fail – or to rescue.

From FT:

 

Policy makers under pressure can get preoccupied with the fixation of the moment. For the eurozone, that idée fixe has been “the firewall”. How big is big enough? Who contributes and how?

Now that the eurozone finance ministers have exhausted themselves with a multilayered package of hundreds of billions of euros, the debate will go global at this week’s spring meetings of the International Monetary Fund and the World Bank. The next [...]

Company analysts are making a surprising change to their forecasts

From Dr. Ed’s Blog:

What do industry analysts know that we don’t know?

They know more about the companies they follow than the rest of us who have chosen different career paths in the investment business. When I analyze the earnings, revenues, and profit margins of the S&P 500 along with its sectors and industries, I start by taking a peek at the data compiled weekly by Thomson Reuters on the analysts’ [...]

Ned Naylor-Leyland: “The Chain of Custody Behind Gold’s Price Setting Mechanism Appears to be Breaking”

 

 

 

 

January 4, 2012 | By Tekoa Da Silva |

 

 

 

 

 

I had the chance to speak with Ned Naylor-Leyland yesterday, Investment Director with Cheviot Asset Management, and adviser to an offshore precious metals fund. It was a spectacular interview, as Ned is one of the few truly free thinkers in the investment business today.

During the interview Ned shared his thoughts on the new PAGE(Pan Asia Gold Exchange) launch in 2012 & the [...]

BBC report on the banking reform motions being considered item. The one leading the argument is from the coalition government smaller party, Vince Cable, but he is currently the Business Secretary:

(BBC News) The government will accept the Vickers report into banking “in full”, Business Secretary Vince Cable has told the BBC.

The report, launched in the wake of the financial crisis, recommended separating banks’ retail business from their investment business.

Mr Cable said the government would proceed with separating the banks.

But the recommendation about the amount of capital banks should hold has been diluted, the BBC has learned. The chancellor will address MPs [...]

“This is no market for young men,” Grantham said. “At least us old men remember what a real bear market is like, and the young men haven’t got a clue.”

By Jonathan Burton, MarketWatch

SAN FRANCISCO (MarketWatch) — Hey, Young Turks on trading desks, up-and-coming money managers and Wall Street stock jockeys: You want the truth about the global markets today?

Listen to Jeremy Grantham, chairman of Boston-based investment manager GMO LLC: You can’t handle the truth.

Jeremy Grantham.

“This is no market for young men,” Grantham said. “At least us old men remember what a real bear market is [...]

The UK Is Preparing To Return To “Glass-Steagall”

by ZH

In a very surprising move, the AP reports that the UK finance minister George Osborne has announced a major overhaul of British banks, the key provision of which will be the separation of bank retail and investment business “in order to help avoid another financial crisis” – an act which is in essence a reintroduction of Glass-Steagall. What is stunning about this development is that [...]

For all those who were wondering why someone just bought a massive 75,000 put spread block on JPM earlier, here’s the reason.

by ZH

Just out from the NYT, disclosing a suit filed previously against JPM by Madoff trustee Irving Picard under seal: “Senior executives at JPMorgan Chase expressed serious doubts about the legitimacy of Bernard L. Madoff’s investment business more than 18 months before his Ponzi scheme collapsed but continued to do business with him, according to internal bank documents made public in a lawsuit unsealed on [...]

GOLD: STILL A RODNEY DANGERFIELD ASSET

by Jason DeSena Trennert

“It just can’t be right,” said the 30-something hedge fund manager through a towel after a grueling 45 minutes on the squash courts of the New York Athletic Club.

“I mean, G. Gordon Liddy is trying to selling it to me on Fox News. My orthodontist owns gold — he wears gold, for crying out loud. It just can’t be right,” he said, shaking [...]

More than 20 years ago, I was a junior broker in a large branch office of a national brokerage firm.

I learned from day one that success at this company – and continued employment – counted on one thing, and one thing only: extracting the maximum amount of commissions and fees from clients.

Investment performance meant absolutely nothing – it wasn’t tracked or paid any attention to by management. A good broker was one who rounded up big accounts and turned over them over frequently enough to generate big commissions for [...]