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My Dear Friends, Monty Guild, a friend of mine for more than forty years, is the most honest and capable man, in my opinion, in money management. I respect Monty’s feelings on many matters, certainly the macro picture. Monty, like I, believes it is possible that coordinated central bank actions in the USA, EU, Japan and China are being discussed. The economic problems are so severe, so international, so global, so entwined, [...] From The Reformed Broker: Jeff Saut (Raymond James Chief Strategist) is out with his latest commentary today and it opens with a killer quote from the famed investor, historian, and economist Peter Bernstein… “I have opted for more conservative ideas and not aggressive ones.” In a stinging rebuke, Citigroup shareholders rebuffed on Tuesday the bank’s $15 million pay package for its chief executive, Vikram S. Pandit, marking the first time that stock owners have united in opposition to outsized compensation at a financial giant. The shareholder vote, which comes amid a rising national debate over income inequality, suggests that anger over pay for chief executives has spread fromOccupy Wall Street to wealthy institutional investors like pension fund and mutual fund managers. [...] by Noelia de la Cruz A group of 128 community banks and credit unions have linked up with Kasasa, an online money management service, to lure new customers from big banks, reportsCNN Money’s Blake Ellis. Customers banking with Kasasa receive free cash back rewards checking accounts and high-interest savings accounts in addition to regular banking services. The program seems to be working. One Minnesota bank saw a 25 percent uptick in checking and savings deposits [...] The Founder of one of the world’s largest asset managers, the $30 billion hedge fund BlueCrest, Michael Platt, spoke to Bloomberg TV and cut right to the chase, saying most of the banks in Europe are insolvent and the situation in the region is “completely unstable.” On how he approaches market risk: “”I do not take any exposure to banks at all if I can avoid it. All the money at BlueCrest Capital [...] U.S. Debt Crisis Is Contrived, James Grant Says Debt crisis is contrived David Cay Johnston is a Reuters columnist. The opinions expressed here are his own. (Repeating for wider distribution) By David Cay Johnston (Reuters) – Rupert Murdoch may not garner as much attention for his financial savvy as he does for his journalistic escapades, which last week led to the shuttering of Britain’s oldest tabloid. But that doesn’t make his money management any less impressive. Indeed, when it comes to taxes, instead of [...] By Bob Sullivan The average college student is stuck with about $3,200 in credit card debt while in school, a burden which can be heavier than a backpack full of science texts. So what’s the best way for parents to keep kids’ debt down before they reach age 21? The advice runs the spectrum from “just say no” to “get them a card as young as [...] While spending and borrowing is up, America’s savings rate fell from 7% down to 5.3% in December. They site a recent poll which found that “27 percent of Americans have no personal savings and 34 percent have no retirement savings, an increase from over a year ago.” Their experts weight in: “There’s no pension, so we have not chance to save,” writes one. “We’re buried by bad mortgages,” says [...] Japanese people never apologize for anything. They are a society of perfectionists who believe they are perfect and an apology for them is like forgiving someone. Japan will never apologize to China or Korea, never it’s not them to wash away their pride like that. Japan has lots of pride and for nothing. Japanese are very materialistic and conservative or should I say, (selfish). I personally see Japanese executives visiting shrines [...] |
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