CIBC had $1.1 billion loss, mostly due to exposure to the US market. [more]
Some are thinking the prices have declined enough that the cost of owning, even if the market might head down further isn't too bad. David Leonhardt's piece is good read. [more]
This was the headline:
Fed will not allow inflation to spiral: Yellen
I was laughing so hard I got a serious stitch in my side...
Enjoying that $4/gallon gas... Seriously where I live I needed milk last week in town at it was $9 for a gallon...
John Mauldin has a good post that got my attention because he mentions profitability and valuation. I've always thought valuing a stock price to sales is utterly stupid and it is because it says nothing about the profitability. [more]
These are 5 simple lessons from Herb Greenberg. This is good advice and I could get into a major rant about how businesses use this stuff to mislead. I just took this right off Big Picture. [more]
Yves has a post about how wrong Wall Street is in predicting. One line that got my attention: [more]
Today there is an article in the Globe and Mail on the absence of Americans visiting Canada. [more]
I have been told I am too bearish, yet I have consistently given good reason for being bearish. [more]
Yves has a post about M3 and he notes that financial innovation has made M3 less meaningful. [more]
The headline is Mish's and I'm the Deb Wot he mentions in the story. [more]
The head line read:
AIG raised capital in region of $20 billion, CEO says
So, I read the article in shock that they were able to raise that much. Reading it is says "in debt and equity." So, how does raising debt fix their gross over leveraged position? [more]
Unfortunately this isn't the fun kind of squeeze... [more]
I like how this article explains inflation..
I don't think we are seeing inflations so much right now, but price increases due to the existing supply of money. Cost of living is definitely going up very quickly, but that isn't inflation, that is prices catching up to the money supply.
In one of my earlier posts, which I doubt I will ever find, I questioned if in the securitization process the financial institutions were taking a big chunk of money by repricing debt that the debtors were supposed to be paying say 10% on and selling it to investors at a certificate rate to yield say 5%. [more]
I am finding the extended day from living on the 60th parallel getting to be very challenging. I was working on something and I just checked the time, 11:06 and I'm tired, but it feels like 9 PM. My body isn't winding down from the daylight until 1-2 hours after it is dark, which is about midnight these day. I am getting so over tired. [more]
It seems homes need to be torn down across America, but here there's a wee bit of a shortage. I am looking for a place the one I am in isn't available for next year. [more]
You've got to see this graph over on CR. I remember seeing it last quarter and thinking, oh my that looks bad. Sometimes you run out of words to describe bad...
Bill Fleckenstein is an excellent economist to follow and his piece yesterday has some interesting tidbits of information. [more]
Some things people say in their posts just kind of stand out... [more]
Seems the earthquake there is in one of their main mining areas...
Not sure how much production is affected...
I wrote about the disaster coming to Australia in this post. Not being from there and only having mainstream media to rely on, well, I didn't find news of problems then... [more]
I first looked at Hudbay Mineral when I contrasted it to Blue Note just over a year ago. I saw nothing but downside to it, although I wasn't overly critical, yet. Blue Note that I liked has yet to perform, and with the retraction of zinc price it is unlikely to perform. [more]
Well, that's just mho....
His entire $1.5 billion estate should be gone after by lawsuits. My humble opinion again...
Big Picture had a link to this interesting story from the depression about Treasury Secretary Andrew W. Mellon, who was then one of the richest men in the US. [more]
When google decides it doesn't like the sites you choose to visit it blocks completely. I can not even open a new browser and get to a site I want to with out this: [more]
You can always count on Yves to report on the what the popular media simply doesn't report. I suppose the google advertising model is giving us true freedom of the press. [more]
I have stressed several times to ensure that any funds that you have in any bank be under the FDIC insurance limit. [more]
It is about time that SUV are being priced where they should be, no profits for the manufacturers. [more]
I am still amazed at this river. What was it, 5 days ago that it was completely clogged with ice? There was so much ice I was wondering how many weeks it would take to clear, yet it cleared the very next day. There is no sense that there is a river there at all from my first picture. [more]
Two of my recent posts, Municipal Bankrupcy Vote and Soaring Development Fees, are essentially about the same thing. [more]
Vallejo, California has voted to file for bankrupcy protection. There's going to be a string of these things... Again, it goes to my earlier post of downloading city fees onto developers.
Looking for a safe place to hide has been preventing rates from going up, but they are heading up...
10-year treasuries going to 4%...
I can't agree with this article more... The unwinding of the unsustainable nature of this policy of shifting tax burden from pay our way to fooling ourselves that developers can pay it forever is going to hurt. If I had more time I'd say more on this. I might post more on it in the comments later today. [more]
The Fool has a very good article written by Joe Magyer titled "The Wall Street Myth That Could Destroy Your Portfolio." [more]
The headline reads:
Yesterday about this time I put up a blog about how the river had filled up with ice, and some pictures. Here's one: [more]
I was looking around on this census data site. Canada and the US are fairly similar right?
Well, what I found kind of shocked me. I started by looking at the US data and I found that the ratio of working age (20-64) to retirement age (65+) people was increasing slightly in the US from around 1995 and that in 2007 the percent was essentially the same.
The graph below actually has the US data offset by one year because I don't know how fix that in excel. A one year offset doesn't change the picture that much. With all we constantly hear about an aging population I expected that ratio to be continuously declining in both the US and Canada. It looks very bad for the US that their finances have so grossly declined and they haven't even begun to be hit by an increasing percent of their population in retirement age.
Click on graph for bigger image. [more]
A housing bubble wasn't enough. The car bubble is falling apart now as well. [more]
You know those warning sirens you hear in the movies for warning of a bombing raid? Those kind of sirens were going in town today and I didn't know what they were for. They were going for about 30 minutes. I looked around and didn't see anything. [more]
I had a post written about my student's art work that they are doing for a year book. [more]
News is reporting that the job cuts in April were not as bad as expected, only 20,000 jobs lost compared to the 80,000 feared. But, there have been 321,000 jobs lost since the beginning of the year. [more]
Sigh, Caps is killing my posts and I'm so not good at saving it first...
I had a post asking if anyone knows how the depression affected their family. I know that my grandfather's family was considered wealthy before the depression and they were wiped out.
Market ticker has good rant today. I just put up my reading list.
Ok, so I bought mouse traps and one is gone this morning, but no mouse, so what, I have a mouse with a trap stuck to its tail in the walls now???? [more]
This FT article has some arguments that suggest current pricing on AAA-rated out of whack, and low. [more]
According to a Bloomberg article BoA indicates it may not honor Countrywide's debt with the buyout. [more]
Buffet said it correct when he said that companies are inflating today's profits by underfunding pensions with an expectation of a rate of return of 8%. A rate of 5% is far more realistic [more]
This is probably the best year ever for that advice... [more]
I'm just going to post the links I wrote two blogs about and I'm not going to try the link button because it seems to be working to just write. [more]
Great, after my three attempts to see if this stupid thing was working, and you can see it posted, CAPS ate my post again...
I'm going to try again, but I am going to be so choked if it eats my post again.
Ok, so the last one worked. See if this works.
Stupid CAPS, it completely lost my post, just gone. There was no back button to push.
I don't trust it to try again.