Alexandra & James, the Lebenthal’s family wealth advisory business, continues to recommend that its clients buy munis. There are some cities and states which the firm avoids, but Lebenthal continues to recommend double-A and triple-A bonds. Investors should not sell, she added, regardless of Whitney’s warnings.”I don’t dispute her knowledge of the investment banks, but she is not a municipal bond expert,” Lebenthal said. “I would put any muni analyst in a room with her — on TV, outside in the school yard — and see who comes out ahead.” [Reuters via BI]
Tickets are sold out for tonight’s annual Corporate Boxing Challenge, which is lucky for you, as it’s not really the sort of thing you’d actually want to pay to watch (but failing to do so, given that it’s for charity, would make you look like a dick), especially given that a certain Golden Gloves contender who-never-was won’t be able to make it like usual. So now you can sneak in, guilt free, and watch people like this guy get in the ring.
Name: Khuong B. Chau
Nickname: Silent Thunder
Weight: 165 LBS
Employer: Tactical Wealth Advisors, LLC
What was one of the most challenging parts about training for the fight? And the most rewarding?
Wearing a cup. The most rewarding part was meeting my boo.
What do you hope to take away from all of this by the end of training and fight night?
I can defend myself against Nijas in the Greenwich Village.
What do you predict for the outcome of your fight?
A knockout during warm-ups.
How are managing money and martial arts kind of the same thing? They both have the potential to kick the shit out of you but as long as you don’t fall over and die (or bleed enough money out of your ass that you’re forced to close up shop) it is all good. Lose nearly 70 percent? No problemo.
Benoit “La Tornade” Descourtieux, the second-oldest contender in Hong Kong’s third annual Hedge Fund Fight Night for charity, finds it easy to draw a link between managing money and martial arts.
“As long as we do well most of the time, or even if we don’t do well but survive, we’ll be OK,” said the 46-year-old, Michael Douglas-lookalike in an interview at his 27th-floor office with a view of workers unloading cargo ships at Victoria Harbour. Descourtieux manages the Calypso Asia Fund, which bets on rising and falling stock prices and their derivatives.
Anyway, most of you don’t need to be told what you already know (everyone’s a professional here) but in case you’re interested in seeing the metaphor in action, are in the neighb (Hong Kong), and would like to drop a few G’s (for a good cause!), La Tornade will be sparring Thursday night. Bonus: there’ll be a guy named John “Headcount Reduction” Crane and a male model in the ring. (For those who can’t make it, there’s an Ultimate Cage Fighting event taking place in Southern Connecticut next month, with some big name participation.)
As Tim Geithner embarks on his campaign for confidence in China, it seems not everybody is so sure that Timmy G and the boys back in Washington have this whole running up massive debt levels and record fiscal deficit thing quite under control. Former Chinese central bank advisor Yu Yongding wants to check Geithner’s homework to see if the numbers actually add up or if he is just looking at the answer key at the back of the book.
Among the objectives the Obama administration has claimed it will achieve is a reduction in the fiscal deficit from its current level of 12.9% of GDP to approximately 3%. In response to this laudable but lofty ambition, Yu wants to know if “Geithner can show us some arithmetic. We need to know how the U.S. government can achieve this objective.” Meanwhile, in a galaxy far, far away, the His Black Swaness, Nassim Taleb, appears to have already done the arithmetic and is not so convinced of the new math the Treasury and Fed are using.
Universa Investments LP, which has links to “Black Swan” author and New York University professor Nassim Nicholas Taleb, is starting a hedge fund to bet that efforts by governments and central banks to end the global recession will lead to hyperinflation, the Wall Street Journal reported, citing Taleb. The fund will invest in commodities and options on oil and gold stocks, the Journal said.
So let’s get ready to rumble- will defending champion Nassim Taleb (obviously wearing the black trunks) retain his title of being right at the expense of most of the free world or will up-and-comer Tim Geithner score an unexpected knockout blow? Only time will tell but conventional wisdom says always bet on black.