Tag Archive
C.M.O. 12.5.2011
Agreeing to work towards an agreement is not the same as agreeing to agree and both of those are very far away from actually agreeing but it was considered a good first step by the markets this past week when the Fed along with the ECB, BOE, SNB, BOJ and BAC eased the terms of… »
C.M.O. 11.21.2011
“If you haven’t thrown up yet, you’re getting ready to,” was how Erskine Bowles, former co-chair of the national fiscal responsibility commission addressed a group of CEOs in Washington DC this past week and he wasn’t talking about the upcoming Thanksgiving holiday. The logic or lack of it in the Loop these days can… »
C.M.O. 11.7.2011
Much has been written in this space in the recent past regarding the extraordinary level of correlation across all assets and asset classes. Also remarked on has been the level of volatility and the comparison of the “risk on” / “risk off” nature of the markets made to a youngster playing with a light switch.
Andrew… »
C.M.O. 10.31.2011
As if to put an exclamation mark on the changing of seasons, Mother Nature forced all those in the Northeast used to slipping on their Havaianas flip flops to instead shod their Hunter wellies this weekend.
Another sign that the season has changed are the fall auctions scheduled for the coming week at Christie’s on Tuesday… »
C.M.O. 10.24.2011
Twelve, 12, XII, a dozen, a number familiar to all of us if for no other reason than it represents the hours passed on a full sweep of the clock; half of what it takes to complete a day. Interestingly though, given the world’s current population, it also represents the number of years it takes… »
C.M.O. 10.10.2011
The number of new 52 week lows on the NYSE last week was 1,296. The number of new highs was 33. I watch those numbers each week and since the lows were larger than the highs we’ll call last week’s ratio -39.27:1. This is the largest negative number I’ve seen since the depths of the… »
C.M.O. 9.26.2011
What a week! In the five trading sessions between Monday and Friday the Dow gave up more than 700 points closing at 10,771 which was 6.4% lower than the previous Friday’s close and the index’s worst weekly showing since October of 2008. The S&P closed the week at 1136.43 putting it 16.7% below its April… »
C.M.O. 9.12.2011
“If you had bought Swiss francs when I suggested, you would not have lost three-quarters of your fortune.” Those words, spoken by the banker of Anna Eisenmenger, a middle-class Viennese diarist in post-WWI Vienna are as apropos today as they were when they were originally uttered and although Anna had taken her lumps in the… »
C.M.O. 9.6.2011
When the Tech bubble was still inflating you heard the term “Paradigm Shift” used to describe the new way in which everything would be done. The term was meant to describe big things moving in big ways. There are big things moving in big ways these days too but it would probably be better described… »
C.M.O. 8.29.2011
He said: “Most of the economic policies that support robust economic growth in the long run are outside the province of the central bank. To achieve economic and financial stability, U.S. fiscal policy must be placed on a sustainable path that ensures that debt relative to national income is at least stable or, preferably, declining… »
