I had to read this article twice to make sure that I understood exactly what Dr. Doom Nouriel Roubini was saying. Was he really turning the corner and being somewhat positive? This was – and is- to many - the most pessimistic of all economists throughout this economic crisis. Until now when reading or listening to him I had to take a warm shower just to shake off the chill from his words. This is a huge step for him and all of us should take note.
But what did he really say?
Mr. Roubini said the U.S. is no longer in "free fall" and is likely to recover by the end of the year...and that a recovery wouldn't come until 2010.
WSJ: http://online.wsj.com/article/SB124778518062154527.html
• Pessimistic economist predicted crisis
• Sees "light at the end of the tunnel"
• But jobless to rise, more stimulus needed
"There is light at the end of the tunnel, there is a bottoming out of the US and of the global economy.
"And the light at the end of the tunnel for once is not an incoming train," Dr Roubini told investors at an event in New York.
"In many ways, the worst is behind us in terms of economic and financial conditions."
Stock markets rallied after some news reports quoted Dr Roubini as saying the recession will be over this year and that his economic outlook had improved.
Source: Reuters, July 17, 2009
http://www.news.com.au/business/story/0,27753,25795323-462,00.html
Friday, July 17, 2009
Thursday, July 16, 2009
Gartman on Gold, Stocks and more
Gartman on Gold, Stocks and more
Dennis Gartman, much followed editor of the Gartman letter, in an interview shares his views on a number of items. Worth a read, this guys usually gets it right.
“Trading guru Dennis Gartman, author of the influential Gartman Letter, took your investment strategy questions…
Yes, I do indeed still believe that the Canadian dollar will trade to parity… and beyond… with the US dollar.
Yes, I am still bullish on the currencies and the stock markets of Canada, Brazil and Australia relative to the US dollar and stock market. Canada, Brazil and Australia are net exporters of “stuff,” and the world will need these things: grain; energy; water; et al
The outlook for nat gas is strong, but supplies are even stronger. The trend is down, and until the trend changes…. And with a demonstrably cooler summer it is not likely to change soon since the demand for air conditioning is lower than last year… those who are bullish shall have to wait for the winter.
I’d buy raw materials manufacturers and miners: steel; copper; zinc; grain growers; water… these are where I’d put my money… with stops on everything. I want to own the movers and makers of “stuff.” Grains; water; base metals… that sort of thing.”
Source: The Globe and Mail
http://www.theglobeandmail.com/globe-investor/investment-ideas/ask-dennis-gartman/article1179697/
Saverio Manzo
Dennis Gartman, much followed editor of the Gartman letter, in an interview shares his views on a number of items. Worth a read, this guys usually gets it right.
“Trading guru Dennis Gartman, author of the influential Gartman Letter, took your investment strategy questions…
Yes, I do indeed still believe that the Canadian dollar will trade to parity… and beyond… with the US dollar.
Yes, I am still bullish on the currencies and the stock markets of Canada, Brazil and Australia relative to the US dollar and stock market. Canada, Brazil and Australia are net exporters of “stuff,” and the world will need these things: grain; energy; water; et al
The outlook for nat gas is strong, but supplies are even stronger. The trend is down, and until the trend changes…. And with a demonstrably cooler summer it is not likely to change soon since the demand for air conditioning is lower than last year… those who are bullish shall have to wait for the winter.
I’d buy raw materials manufacturers and miners: steel; copper; zinc; grain growers; water… these are where I’d put my money… with stops on everything. I want to own the movers and makers of “stuff.” Grains; water; base metals… that sort of thing.”
Source: The Globe and Mail
http://www.theglobeandmail.com/globe-investor/investment-ideas/ask-dennis-gartman/article1179697/
Saverio Manzo
Executive Pay on the backs of the US taxpayer. When will it end?
Why do we stand for this?
Goldman Sachs average employee pay thus far: $370,000
Yesterday Goldman Sachs announced much better than expected quarterly earning of $3.44 billion. The Company also announced that it is setting aside $11.36 billion for its compensation pool through mid 2009 which includes annual bonuses. THAT WORKS OUT TO NEARLY $385,000 PER EMPLOYEE… (for each of its 29,400 employees and temporary workers) …FOR THE FIRST 6 MONTHS OF THE YEAR. That works out to an annual income of about $770,000 per employee, if this pace keeps hold. Last year (2008) at this time the compensation pool was $8.52 billion. This year’s compensation pool is almost the same as in mid 2007 when the market was still booming.
$11.36 Billion compensation pool. All from hard-working, trying-to-make-ends-meet US citizens. OOPS!, I meant to say from US government bailout funds. Now I am all for free-markets and capitalism, but this is abuse.
Source: New York Times
With Big Profit, Goldman Sees Big Payday Ahead
http://www.nytimes.com/2009/07/15/business/15goldman.html?_r=1&scp=1&sq=goldman&st=cse
Bloomberg. http://www.bloomberg.com/apps/news?pid=20601103&sid=axo2pKtl0rts
Here’s an angry guy that makes his point. Its over the top yet entertaining:
Merrill Exec pay:
http://www.youtube.com/watch?v=B-lXOQ4L8jQ
saverio manzo
Goldman Sachs average employee pay thus far: $370,000
Yesterday Goldman Sachs announced much better than expected quarterly earning of $3.44 billion. The Company also announced that it is setting aside $11.36 billion for its compensation pool through mid 2009 which includes annual bonuses. THAT WORKS OUT TO NEARLY $385,000 PER EMPLOYEE… (for each of its 29,400 employees and temporary workers) …FOR THE FIRST 6 MONTHS OF THE YEAR. That works out to an annual income of about $770,000 per employee, if this pace keeps hold. Last year (2008) at this time the compensation pool was $8.52 billion. This year’s compensation pool is almost the same as in mid 2007 when the market was still booming.
$11.36 Billion compensation pool. All from hard-working, trying-to-make-ends-meet US citizens. OOPS!, I meant to say from US government bailout funds. Now I am all for free-markets and capitalism, but this is abuse.
Source: New York Times
With Big Profit, Goldman Sees Big Payday Ahead
http://www.nytimes.com/2009/07/15/business/15goldman.html?_r=1&scp=1&sq=goldman&st=cse
Bloomberg. http://www.bloomberg.com/apps/news?pid=20601103&sid=axo2pKtl0rts
Here’s an angry guy that makes his point. Its over the top yet entertaining:
Merrill Exec pay:
http://www.youtube.com/watch?v=B-lXOQ4L8jQ
saverio manzo
Monday, June 4, 2007
intro!
hey there! well, we're just getting started with my new blog site! we'll have to continually come up with some good stuff to keep you coming back.
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