In addition, Rogers went on to say he was long the U.S. dollar. “The only reason I’m long…is because everybody in the world, including me, has been terribly pessimistic. And whenever that happens you should take the other side of the trade. So I’m long the U.S. dollar, I have no confidence in it, its going to be a disaster, but as we speak I own probably more U.S. dollars then I’ve owned in years, and certainly more than any other currency.” [CNBC]
Archive for September 2011
A few more details on who was affected by yesterday’s cuts at Moynihan’s House of Fun. Continue reading »
Like many people, I like to believe that I prefer the government policies that I prefer because they’re a Good Thing for the world, not because they advance my self-interest. But as a relatively new homeowner, I break down a little on mortgages. Sure the mortgage interest deduction is a crazy and inefficient boondoggle, but it’s my crazy and inefficient boondoggle, and I don’t really want my apartment to lose (more) value if the deduction goes away.
Similarly, I’m pretty psyched about the plan that’s been kicking around, and that made it in vague form into the president’s jobs proposal, to allow people to refinance mortgages even if their houses are underwater or their income wouldn’t support the new payments. When I took out my mortgage I had a bit over one turn of leverage, as it were, which had my mortgage bankers congratulating me and asking if maybe I wanted to take a little more money just in case. Whereas now I make TXU look like a strong credit. Because um blogging pays less than banking you see. So I like the idea of being able to reduce my mortgage payment without actually having to try to convince a banker that it’s a good idea for me to keep this much debt. Even though I’m not entirely convinced that it’s good for the world.
Others are also skeptical. Continue reading »
As some of you may know, in the post-crisis world, raising capital can be a tricky business, even for hedge funds with impeccable track records. Even more difficult? Getting people to sign on to fund of funds, whose due diligence processes were called into question following the Madoff scandal. Fortunately, there’s still one guy who knows how to get the job done. His name? Anthony Scaramucci AKA The Mooch, who is the topic of a Bloomberg Markets Magazine profile next month. If you want to raise some real money, whether you’re running a FoF or just need some cash for the weekend, we suggest following his system. A fool-proof system for getting any investors you want to open up their wallets for life. What are we talking about? M.O.O.C.H. It’s a comprehensive approach for the seduction of potential investors that Scaramucci’s been developing for years. And now, he’s sharing it with you. Continue reading »
From: Richard Bove
Sent: Friday, September 09, 2011 05:58 AM
Subject: Predictions
Oh, did someone say 10,000? That’s embarrassing. Number is actually more like 40,000. Continue reading »
Obama’s Bid To Spur Growth (WSJ)
President Barack Obama called on Congress Thursday to pass a $447 billion package of spending initiatives and tax cuts to boost economic growth, in what might be the White House’s last chance to revive its political fortunes before the 2012 campaign kicks into high gear. More than half of Mr. Obama’s plan consists of payroll-tax cuts for employees and employers—an idea the White House hopes will appeal enough to Republican lawmakers—and is the policy that could have the best chance to pass. Among other measures, the president also called for more than $62 billion in spending to extend unemployment insurance benefits through 2012 and fund programs to alleviate long-term joblessness. He also proposed $140 billion in infrastructure spending and aid to states.
Obama May Ease Rules for Technology Innovators to Create Jobs (Bloomberg)
The administration will work with the Securities and Exchange Commission to review rules, including those put in place by the Sarbanes-Oxley Act passed in 2002 to impose stricter accounting rules, Tom Kalil, senior adviser for science, technology and innovation for the White House National Economic Council, said yesterday in a conference call with reporters in Washington.
A Powerful Obama Speech (CNBC)
El-Erian: “Democrats and Republicans now have a choice. They can either coalesce around the President’s program, drawing comfort from individual elements that appeal to them; or they can hold out for more and, in the process, turn the pursuit of their personal best into an enemy of the public good. At long last, President Obama did enough this evening to upgrade the quality of the nation’s economic debate. He presented a credible program that is focused on the right structural areas. Now he must strengthen it and complement it with a sensible fiscal component; and Congress must discuss it in a cooperative and constructive manner.”
“Fuck,” Carol Bartz: A Brief History of Yahoo’s Ousted CEO (NYO)
January 25, 2009, to all Yahoo employees: A threat to “Drop kick them to fucking Mars.” April 21, 2009, to all Yahoo investors: There’s “nobody fucking doing anything.” May 24, 2010, to TechCrunch’s Michael Arrington: “Fuck off.” Continue reading »
$$$ Obama Proposes Cutting Half Of Payroll Taxes In Half
(Bloomberg)
$$$ The Fall of FrontPoint Partners (AR)
$$$ Apple Co-Founder Steve Wozniak Made $781 Today Working From Home (BetaBeat) Continue reading »
From the mailbag: “Spotted: Jim Simons power-walking with a hot-body personal trainer around the main-loop in Central Park at 7:30 AM this morning, unfortunately, not smoking a Marlboro Red at the time.”
Carol Bartz Might Want To Stress The Term “Doofuses” Wasn’t Meant In A Disparaging Way
By Matt Levine
Sure, it felt pretty good at the time , but probably not $10 million worth of good.
From her employment agreement:
Continue reading »
