Sorted Weekly Tweets

Wrong

 

  • Wrong: A Hawkish Signal Bernanke Didn’t Send stks.co/sISp No, Fed misunderstood the markets, & what their “transparency” said $$
  • Slow-minded: Fed Presidents Say Dodd-Frank Failed to Dispel Too-Big-to-Fail stks.co/fbLA No, duh. U r only realizing this now? $$
  • Wrong: Pension funds may see the silver lining on the interest rate cloud stks.co/gbLA As interest rates rise, assets go down $$
  • Wrong: The Last Mystery of the Financial Crisis stks.co/aZl7 Shallow analysis that does not take account of regulatory needs $$
  • Wrong: Long Live Synthetic CDOs – Bloomberg stks.co/ianr Levering up risky debts exacerbates the credit cycle; should b ended $$

 

Market Dynamics

 

  • Traders Trapped in Scandinavia Discover No Easy Sell stks.co/tIUb Low-liquidity currencies, big moves when all rush 2the exit $$
  • Why ‘average’ returns aren’t good enough stks.co/fbLB Arithmetic avgs r less accurate than geometric averages & more $$
  • Royal Bank of Canada Gains by Putting the Brakes on Traders stks.co/qIXh Over the long haul they will prosper vs HFT $$
  • Billionaire Ron Baron: The Dow’s A Double stks.co/cZbY He’s delusional, and does not get how stretched prices are vs book/sales $$
  • Holding bonds today is a disaster in the making stks.co/iatP I think the economy will b weaker than Fed expects, could c rally $$
  • Closed-End Funds Bite Back stks.co/garg Leverage Juiced Returns When Rates Were Moored; Now It Is Magnifying Losses $$ #BlameDaFed
  • Apollo Fueled by $9.6 Billion Profit on Debt Beats Peers stks.co/pI7U Strength of investing across capital structure evident $$
  • State Street Temporarily Stops Cash Redemptions For Muni-Bond ETFs stks.co/pHnc Dealers can’t presently swap ETF shares 4 cash $$
  • Billionaire Fisher Says U.S. Still in Middle of Stock Rally stks.co/hanR He is stuck in a mindset of a low debt world $$
  • Housing Seen Shrugging Off Loan Rate Rise as Banks Loosen stks.co/jaQY Easier financing returns, tho Tsy yield rise undoes more $$
  • Treasury Yields Surge Most Since 2003 as Fed Previews Tapering stks.co/sHeT When cheap forward financing ends, prices go south $$

 

Metals

 

  • Gold-Price Decline Uncovers Mining Companies’ Debt Woes stks.co/tIUa Debt in cyclical industries is always a problem in a bust $$
  • Gold Drops to 34-Month Low as Precious Metals Slide on Fed View stks.co/cZdI All risk assets have been hit since Fed meeting $$
  • Gold Bear Market Hits Hardest in South Africa Mines stks.co/eZl1 Mines r high cost per ton, no surprise they r affected early $$
  • Bottom Falling Out of Copper Prices stks.co/jbDz When Dr. Copper speaks, we can sense the pulse of the economy, getting weaker $$
  • Gold Miner Writedowns at $17 Billion After Newcrest stks.co/aZDq Beginning of a process reconciling dud mining assets $$

 

Monetary Policy

 

  • Risk of 1937 relapse as Fed gives up fight against deflation stks.co/ibLa Deflation is inevitable given present policy $$
  • 2 Fed Presidents Emphasize Stimulus 2Persist After QE Taper stks.co/cZ7b & stks.co/aZHK Fisher & Kocherlakota obfusc8 $$
  • BIS fears fresh bank crisis from global bond spike stks.co/eZGv Banks r mismatched long; will have trouble in run on liquidity $$

 

China

 

  • Credit Warnings Offer World a Peek Into China’s Secretive Banks stks.co/cZdL & more extreme: stks.co/dZdV Bad future $$
  • China breaks silence on cash crunch stks.co/fasu Nation’s lenders approach crisis point as part of crackdown on shadow finance $$
  • China’s alarming credit crunch stks.co/sHxk This could have been exacerbated by a reversal of a popular yen-yuan carry trade $$
  • China Loses Control of Its Frankenstein Economy stks.co/faqF Things r likely 2b shaky in China’s short-tern lending markets $$
  • Financial reform cannot wait stks.co/jaiU But the Party, is it ready to give more freedom to its people & transparency 2 banks $$

 

Energy

 

  • How BP Got Screwed on Gulf Oil Spill Claims stks.co/tISo Free $$ brings out the worst in people | FD: +$BP
  • Frack Music Attracts Halliburton to Submarine Spy Tool stks.co/hb7I “The hills r alive, w/the sounds of fracking…” $$
  • In Moving US Oil, ‘Flexible’ Rail Bests Pipelines stks.co/pI7j Railroad tank cars:low fixed, high variable costs, more flexible $$
  • New Pipelines to Bring Landlocked Oil to Texas-Coast Refineries stks.co/jakj Pipelines: high fixed cost, low variable cost $$

 

Insurance

 

  • Berkshire’s Tracy Britt In, Lynn Swann Out at Heinz’s Board stks.co/bZh0 Whiz Kid gets 1st board seat $BRK.A M&A | FD:+ $BRK.B $$
  • Regulators put chill on US private-equity insurance deals stks.co/dZbX Those who might undo the conservatism should not buy $$
  • $HIG to Sell Unit to Berkshire stks.co/pIb8 I do not get how $BRK.B benefits from this; its worse than the $CI transaction $$
  • 7 Annuity Mistakes to Avoid stks.co/sHxj Illiquity, wrong payout type or guarantees, switching, w/d 2much, taking buyback, etc. $$
  • Misjudged Annuity Guarantees May Cost Life Insurers Billions stks.co/rI1Z Why I don’t invest life insurers w/much variable biz $$

 

Other

 

  • Working Poor Losing Obamacare as States Resist Medicaid stks.co/dZdW A rare case where states avoid Federal $$ | avoiding a trap
  • Four Reasons Non-GAAP Metrics Are Exploding stks.co/cZbX Non-GAAP measures r an attempt to make acctg reflect free cash flows $$
  • Another shameful day for Europe as EMU creditor states betray South stks.co/pIb9 Germany crams down on Greece & euro-fringe $$
  • Holder Says US Seeking More Disclosure on Surveillance stks.co/aZ10 U can disclose it now; U r a bigger threat than terrorism $$
  • Sorry, but Do You Speak English? stks.co/pHna Not surprising; cultural differences drive differences in English dialects $$

 

Full disclosure: long BP, BRK/B