C.M.O.
C.M.O. 8.22.2011
Were Hunter S. Thompson alive today I’m not sure if he would title his next book “Fear and Loathing on Wall St.”, “Main Street” or maybe “The World” as the degree with which the fearful are loathing risk these seems truly global.
Bill Gross, co-CIO of PimCo, has to be loathing his March decision to sell… »
C.M.O. 8.15.2011
If you were in New York City and thinking about packing the family into the car for a road trip vacation and your destination was, say, Annapolis, MD (about 175 miles away) would you get there by way of Phoenix, AZ (about 2,133 miles away)? Even with the price of a gallon of gas under… »
C.M.O. 8.8.2011
In mid July Eric Cantor was in a cabinet room with President Obama sitting between Nancy Pelosi and Steny Hoyer. The tangling of the debt ceiling debate was tense. At one point the President invoked Ronald Regan and as Mr. Cantor recalls in an interview in this weekend’s WSJ after Eric’s retort Mr. Obama said,… »
C.M.O. 8.1.2011
Two things deepened last week. The first was man’s ability to explore the depths of the ocean as Jiaolong, a manned deep-sea submersible named after a mythical Chinese sea dragon, reached a depth of 5,057 meters or 16,591 feet for those of us in this side of the pond.
This would seem to mark China’s continuing… »
C.M.O. 07.25.2011
I’m still not sure if they should be called the “Gang of Six”, the “Gang That Couldn’t Shoot Straight” or six guys playing a 3 on 3 game of kick the can down the road but the current impasse in the budget/debt ceiling negotiations is definitely lowering the credibility ratings of our elected officials in… »
C.M.O. 6.1.2010
Credit Market Overview
June 1, 2010
With the VIX closing at 40.10 on May 21st and correlation across almost every single asset class locked at 1.0 it would appear that investors are battening down the hatches early for what the National Oceanic and Atmospheric Administration (NOAA) says could be the busiest hurricane season since 2005. The federal… »
C.M.O. 5.24.2010
Credit Market Overview
May 24, 2010
It can be debated whether the Keynesian school of economics is the right or wrong way of managing a nation’s finances but one thing John Maynard said has remained true since the words were uttered. “Markets can remain irrational longer than you can remain solvent”.
With this in mind and in light… »
C.M.O. 5.7.2010
Credit Market Overview
May 7, 2010
After a recent bout of severe headaches and upon the urgent urging of friends and family I have undergone a series of MRI’s, CAT Scans, EKG’s and whatever other test they could throw at me. The results show that the skeptisus and cynicis areas of my brain are enlarged.
For those not… »
C.M.O. 5.6.2010
Credit Market Overview
May 6, 2010
On March 6th of 2009 the intra-day low on the S&P was 666.79. It was not only the low price traded on that day but the lowest price seen for the previous 10 years. The ubiquitous gallows humor on Wall St. made quick work of the three 6’s and their representation… »
C.M.O. 5.5.2010
Credit Market Overview
May 5, 2010
On this day in 1862 4,000 troops in the Mexican Army led by General Ignacio Zaragoza beat of force of 8,000 of French Count Charles Latrille’s soldiers at Puebla in Mexico, winning their independence in the process. That the majority of folks think of today as a marketing gimmick sponsored by… »
