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News Posts
Home Prices Hurt For Fifth Month In A Row
While winter is usually the off-season for home sales, this is the fifth month in a row where prices slid. With values at levels not seen since 2003, the strength of the housing market recovery isn’t looking as hot as it did before winter. Of the 20 cities used in determining home prices, 17 lost value while Miami, Phoenix, and Washington were the only locations to see an appreciation in value. Historically, the early spring weather should help fuel an early buying season but the housing slump seems immune to any medicine, including repressed interest rates. Case-Shiller Shows … Read more
‘t I Seen That Name Before?
Marketing is an art. But what happens when you focus too much on the art rather than the market? Some rather comical overlap of product names… What’s in a Name? | The Intercom Blog.
‘t Break The Market The First Day On The Job
Imagine this: you’re driving to the office the very first day on the job. As you casually hang a right into the parking lot, you begin thinking of how you are going to leave a stellar first impression on your co-workers and management, since you know that first impressions mean everything. Pulling into the first spot you see right in front of the entrance, you jump the curb and slam into the front of the building as your car bursts into flames while your hood flattens the reception desk against the back of the wall. Now imagine this is how … Read more
| ETF Trends
This is a good article explaining why these products don’t work. I’ve been railing against synthetic ETFS for some time. What I mean by synthetic is an instrument that tries to mimic an index or futures contract and is NOT actually the index or future itself. They just don’t work. In fact they fail miserably for the most part. It’s small wonder why many money managers fail because they opt out for lazy man macro decisions composing their client’s portfolios entirely from ETFs. What Really Happened with TVIX March 23rd at 9:33am by John Spence TVIX Falls More After … Read more
Afghan Shooter Was A Broker? Joined Army To Escape Paying A $1.5 Million Judgement
With the recent sad news of the terrible incident in Afghanistan where a solider is suspected of shooting 16 civilians, information has been slow to be released on the situation. Reuters released an article this morning, revealing that the suspected shooter’s background before the military was in finance. Apparently the shooter, Robert Bales, worked for a number of shady, interconnected brokerage houses for a number of years before leaving the industry to avoid paying a million and a half judgement against himself for defrauding an elderly client. From Reuters: “Bales joined the Army 18 months after an Ohio investor filed … Read more
‘s Effect On Home Prices?
Home sale numbers are still weak, but there is a silver lining to this cloud. Shadow inventory (the number of foreclosed, bank owned homes not on the market) is finally showing some signs of stabilizing. According to the most recent report from CoreLogic, shadow inventory in January is about the same (1.6 million homes) as it was in October of 2011. This is a 200,000 unit decrease from a year ago. “Almost half of the shadow inventory is not yet in the foreclosure process,” said Mark Fleming, chief economist for CoreLogic. “Shadow inventory also remains concentrated in states impacted by sharp … Read more
Google Probed By Regulators Due To Privacy Issues
Google just can’t seem to stay out of the spotlight in the arena of online privacy. Ever since they decided to “simplify” their online agreement, (see here, and here, and here) they have been scrutinized from every angle possible. Sure, the policies they had in place were convoluted and ineffective. Sure, they needed to play catch up on the data mining front to compete with the likes of Facebook. However, they managed to do so with the grace and precision of a hand grenade. This time around, the FTC is investigating to determine if Google intentionally tried to set a … Read more
Buybacks And A Dividend The Answer For Apple
Looks like Apple finally has a solution for the pile of cash they have amassed. According to SFGate, shareholders should expect a dividend of $2.65 and a significant buyback of stock that would return another 10 billion or so on a quarterly basis. Apple’s decision will be completed over the next three years. In the wake of the new iPad 3 selling out almost immediately, the tech giant knows that they need to start moving all this cash off their balance sheets. Especially considering how it seems the massive company has been sucking some of the life out of the … Read more
Obama’s evolution: Behind the failed ‘grand bargain’ on the debt – The Washington Post
Obama’s evolution: Behind the failed ‘grand bargain’ on the debt View Photo Gallery — In the summer of 2011, the White House was embroiled in a battle with Republican leaders over legislation to increase the debt ceiling and avert the country from defaulting. By Peter Wallsten, Lori Montgomery and Scott Wilson, Published: March 17 President Obama had just arrived home, walking across Lafayette Square after attending Sunday services with his family at St. John’s Church. In the West Wing, Obama ducked into the spacious office of his chief of staff, where he found his negotiating team huddled with two leading Republicans … Read more
We are looking for an ad agency, marketing group or individual with core competency in demographic, geographic, and retargeting online advertising.
It’s astonishing how display ads have gotten so sophisticated. Did you know that when you look at a web site the ads that you see are probably only seen by you and the few hundred or thousand people most like you in the world? In fact they are designed to profile you, discover your aspirations, and type you, track you, follow you along the Web and drive you into someone’s sales funnel. I bet you never felt so wanted in your life. In fact most of the gray matter IP, high-profile venture capital dollars are going into this … Read more
‘s High-Tech Spy Network: Just Had An IPO?
In the high-tech world of espionage, deep pockets prevail. Not this time though, as Chinese spies have mined substantial amounts of data.. through Facebook. Proving that the social data mining machine is a double-edged sword, the spies gathered email addresses, phone numbers, names, and details on family members on a number of high-ranking military officials. The fake account of United States Navy admiral James Stavridis befriended a number of other officials for an undisclosed amount of time before the intrusion was identified. Considering the number of ‘spoof’ accounts of a number of famous celebrities and the sensitivity of these high-ranking … Read more
China Dethrones iPhone, Samsung Sales Surge
Apple’s market cap may rule the S&P, but it’s a different story in China. The tech giant is struggling to efficiently capture a leading share of the country’s massive market, while Samsung is proving a substantial opponent. With more than three times the market space over Apple (24.3% vs 7.5%), the South Korean company has a strong lead in subscribers which isn’t expected to be challenged any time soon. According to Bloomberg, Samsung’s blanket strategy proved much more effective in gaining subscribers than Apple’s tactically narrow approach: “Apple’s partnerships with China’s second- and third-largest carriers give it access to about 34 … Read more
‘s Fund Lockups Add Fuel To The Fire
Phil Falcone is struggling. Not in normal person terms as he’s still a billionaire, but you can strike the ‘multi’ from the front of that this year. After suffering 47% losses in 2011, Falcone was forced to lock up his client’s money in light of his failed LightSquared endeavor which was wrecked by US regulations. Many of his clients are frustrated with performance, resulting in a recent lawsuit filing against Harbinger Capital over “deceptive and misleading statements” made while raising money for the fund. It seems like Phil has some serious unwinding of investments ahead, along with some deft PR … Read more
‘s What To Expect From Apple Today On The iPad 3
In case you’ve been trapped in a car for the past two months like this guy, the new iPad is coming out today. Here’s Business Insider’s coverage of what you can expect from the new device. Although, 4G is probably the only thing that most people will notice on the third version of the extra large Facebook device.. Retina display Quad-core processor / more RAM Improved camera LTE Siri integration Slightly different form factor Similar pricing iOS 5.1 Home button March 16th release date THE APPLE INVESTOR: All Eyes On Apple’s ‘Special Event’ Today, Here’s What To Expect.
Greece A Result Of A Greedy Goldman? Nahhhh…
Back in 2001, Greece had a problem. The struggling country’s debt levels were simply too high to qualify for admittance to the European Union. While these regulations were in place to protect the structure of the European economy, Goldman Sachs was more than willing to step in with a timely loan which provided the necessary liquidity to hide the nation’s accumulated debt load. Essentially a perfect solution for both Greece and Goldman, here is the situation illustrated by Bloomberg: “The Goldman Sachs transaction swapped debt issued by Greece in dollars and yen for euros using an historical exchange rate, a mechanism … Read more
“‘d Be A Fool To Hold Anything But Cash Now”
Interesting interview with David Stockman the other day. The Ex-White House budget director expresses some extremely strong feelings about the direction this country is headed in the upcoming months. Considering his prediction of an event of epic proportions, wouldn’t you rather be on the right side of the trade than out of the market entirely..? Now 65 and gray, but still wearing his trademark owlish glasses, Stockman took time from writing his book about the financial collapse, “The Triumph of Crony Capitalism,” to talk to The Associated Press at his book-lined home in Greenwich, Conn: Q: You sound as if … Read more
‘s Dallara Seems To Think So
Greece has fallen out of the headlines in the past few days due to a supposed resolution of the debt deal, but large hurdles still exist. Managing Director Dallara of the IFF is under the impression that the current plan will be proved a success next week with investors exchanging their current bonds for a 53.5% haircut. However the success of this exchange requires a 90% participation rate which is a tall order for many of the hedge funds holding Greek debt. If participation can be raised above 75% but under 90% then Greece will bring the issue to their … Read more
More Ads? Facebook and Twitter Stepping Up Mobile Coverage, And Revenue
Enjoy the unusually ad-free browsing of Facebook and Twitter on your phone? Not for long.. Both companies are adding an ad platform to mobile devices in the upcoming weeks (reaching 425 million Facebook users and 55 million Twitter users) While this will fill major gaps in both social media companies revenue streams, it will result in the following changes: Twitter: Promoted (paid advertising) accounts will be recommended for you to follow, Tweets by promoted accounts will appear no matter if you follow them or not, and Tweets from brands you follow will move to the top of your newsfeed. Facebook: … Read more
Gambling Website Bodog Seized, Feds Indite Four Including Founder
A definitive direction in the grey area of online gambling, Federal authorities have taken an aggressive stance on Canada based gambling company Bodog. The website name was seized this past Monday and indictments were quick to follow in the state of Maryland. The outcome of this case should set interesting precedence on a state level for upcoming online gaming companies such as Zygna. “Gamblers in Maryland and elsewhere were sent a least $100 million by wire and check from 2005 to 2012, the U.S. Attorney’s office said, adding Bodog conducted a $42 million advertising campaign between 2005 and 2008 to … Read more
Greece Steps Down And North Korea Takes The Stage
Interactions with North Korea are a bit of an unknown under the new leadership of Kim Jong Un, but the fourth largest military in the world is stepping into the limelight as Greece leaves center stage. Annual joint military drills between the US and South Korea take place this week and North Korea isn’t happy. This could spell trouble should the young dictator with something to prove back himself into a corner.. “The war drills are an unpardonable infringement upon the sovereignty and dignity” of North Korea, the official Korean Central News Agency said today in an editorial. “The army … Read more
Apple Looking Up In Shanghai Trademark Case
A local court denied a motion to surpress the sale of the iPad in Shanghai due to a similar ongoing case in the Guangdong Province, allowing Apple stores to continue selling the product until an outcome is decided. Facing the unpredictability of Chinese courts, this is finally a glimmer of hope for the tech giant. Although this has no bearing on how the Guangdong case will turn out, it shows that China is in support of Apple continuing with sales probably due to some political pressure. “Proview’s injunction request was rejected,” Carolyn Wu, the Apple spokeswoman, said in a telephone … Read more
After Settling Fears About Liquidity, Sears Skyrockets
Looks like a lot of shorts are feeling the burn of a squeeze this morning as SHLD is up over 20% intraday. Reuters reported that Sears Holdings still has “substantial liquidity and strong assets” despite their obvious need to improve their operating performance and location strategy. However the retail chain is expected to generate $270 million in assets from real estate deals and another $400 to $500 million from rights offerings. From Reuters: “The rights will entitle stockholders to purchase shares in the combined Sears Hometown and Outlet Stores businesses and certain hardware stores and will be transferred to holders … Read more
IAEA Gets Nowhere With Iran Nuclear Talks
While Iran’s willingness to reopen talks with the International Atomic Energy Agency about their nuclear program was a surprise, it seems that the motion was mostly for show. Several rounds of discussions yielded no access to a military site in Parchin which is suspected to be a weapons development facility. There has been no agreement on further discussing the matter. Light crude is hovering close to $106 a barrel today, so much for Prince Alwaleed’s promise to keep oil under the $100 a barrel mark. From FT: “The International Atomic Energy Agency has reported that it held a “disappointing” … Read more
Brain Study Finds What Eases Pain Of Financial Loss
Most traders and investors, even on a professional level, can remember every single big loss they have incurred compared to only a few of their big wins. Here’s an interesting look into the chemical effect of losing money on the brain. The whole article can be viewed from the link below. From Reuters: “The experiment showed that a neurotransmitter, or chemical messenger, called norepinephrine, or noradrenaline, is central to the response to losing money. Those with low levels of norepinephrine transporters had higher levels of the chemical in a crucial part of their brain – leading them to be less … Read more
Immediate Solution To Debt Crisis Found: Italian police seize $6 trillion of fake U.S. bonds
What started off as a harmless Mafia loan-sharking investigation turned into a rather profitable seizure of $6 trillion worth of forged US Treasury bonds on Friday. Oddly enough, no rally in the treasury market as a result. US officials confirmed that the bonds were not just a misplaced QE 3 and QE 4. “It began as a investigation into mafia loan-sharking, but gradually expanded as prosecutors used telephone and computer intercepts to unearth evidence of illegal activity surrounding Treasury bonds. The fake securities, worth more than a third of U.S. national debt, were seized in January from a Swiss trust … Read more
‘s Privacy Policy: Strike One
Not nine days after Google releases their new-and-improved privacy policy, we have some first hand results of its intrusiveness. Jonathan Mayer, a graduate student from Stanford University, discloses some rather disappointing findings. In his comprehensive article (found here) he identifies four ad-based companies that place trackable cookies in Safari’s browser, and code in two of the four show an intentional circumnavigation of Safari’s privacy feature. I’ll give you a hint: one starts with a G and ends in oogle. Now almost every browser has some type of privacy feature in place: “Every popular web browser, save Opera Mini and … Read more
Thought Pre-Release Lines for Apple Are Absurd? Try China, Bring Eggs..
Beijing, China: Several weeks ago, crowds of people amassed in front of Apple’s flagship store in the pre-dawn hours. Eagerly awaiting the anticipated release of the new iPhone 4s, customers and scalpers alike grew restless as the chants of “Open the door!!” grow louder and louder. At 7:15, already past the time when doors were supposed to open, a man steps outside with a bullhorn and announces to the crowd, “Please go back home! No iPhone 4s!!” Anger spreads through the masses, fights break out between angry scalpers and frantic customers, and eggs start flying…. Read the complete account and … Read more
Seven Arrested In Connections With Olympus Scandal, Including Ex-Chairman
Looks like the scandal that’s sliced Olympus shares in half is finally bearing some results according to Bloomberg. Seven arrests have been made in response to the 13 year coverup of mispriced acquisitions resulting in a $1.3 billion dollar writedown of the company’s net assets. From Bloomberg: Olympus’s Tokyo headquarters and its affiliated offices were raided Dec. 21 by prosecutors after the company said in November that Kikukawa and two other executives colluded to hide losses from securities investments from the 1990s. The stock has plunged 48 percent since the Oct. 14 dismissal of its first non- Japanese president, Michael … Read more
Paulson Calling For A Greek Default
According to Paulson & Co., a hard default by Greece could spell economic disaster of unprecedented proportion along with the breakup of the Euro. In his 2011 recap letter to clients, he estimates $117 billion will be needed to recapitalize banks and satisfy other monetary needs. Paulson & Co.: “We believe a Greek payment default could be a greater shock to the system than Lehman’s failure, immediately causing global economies to contract and markets to decline,” the hedge fund said in the letter, a copy of which was obtained by Bloomberg News. The euro is “structurally flawed and will likely eventually … Read more