The Feds Transparency Will Create Bubbles

Jun 8, 2014
J. Webster
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Greenspan, Bernanke, and maybe now Yellen, with their transparency and forecasting of what the Federal Reserve is going to do, has caused increased risk taking not reduced it:
IT may seem counterintuitive to use uncertainty to quell volatility. But a small amount of uncertainty surrounding short-term interest rates may act much like a vaccine immunizing the stock market against bubbles. More generally, if we view humans as embodied brains instead of disembodied minds, we can see that the risk-taking pathologies found in traders also lead chief executives, trial lawyers, oil executives and others to swing from excessive and ill-conceived risks to

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Receptionist Gets a Pass at Bridgewater

Jun 8, 2014
J. Webster
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Everything is measured at Ray Dalio's gigantic hedge fund Bridgewater Associates. Whether you're a trader or the head receptionist, your work is monitored and evaluated - but it's all for the truth and betterment of the "firm". It's all for the cult called Bridgewater. It's all based on Ray Dalio's vision and his desire to create a culture "truth and radical transparency."
But human machines don't always welcome complete candor. And at Bridgewater they have to get used to internal software that conducts a non-stop evaluation of their performance based on daily entries from colleagues and even rates their credibility on

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Gene Munster Changes Tune on Beats Deal

May 29, 2014
J. Webster
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When the Apple deal for Beats was first leaked, Gene Munster said it was a "bad idea":
"We are struggling to see the rationale behind this move," Munster said. "Beats would of course bring a world class brand in music to Apple, but Apple already has a world class brand and has never acquired a brand for a brand's sake (i.e., there are no non-Apple sub-brands under the company umbrella)." He added, "Separately, we are not aware of any intellectual property within Beats that would drive the acquisition justification beyond the brand. We view a better use of capital for acquisitions to

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Financial Tweet of the Week: Cory Johnson

May 23, 2014
J. Webster
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While Hewlett-Packard Company is near a 52 week high of $34, does that really mean anything in the long run? What products do HP have that everyone wants to buy? They missed 3D printing, or at least they're very late to the party. They've cutting more jobs, as in 16,000. How can they catch up with Apple and even Microsoft? While Meg Whitman has taken the company and the stock from the lows near $11 just a year ago, where are they going to be in six months or six years? They're losing money every quarter. I think Bloomberg's Cory

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Dr. Doom Looking Pretty Gloomy

May 22, 2014
J. Webster
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Yes, the person who publishes the "Gloom Boom & Doom Report" should look like this....Marc Faber, otherwise known as Dr. Doom, looks like he hasn't been outside in a while and he just woke up while appearing on Bloomberg.

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Model Chrissy Teigen’s Apple Obsession

May 22, 2014
J. Webster
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Sports Illustrated model Chrissy Teigen knows Apple has an iPhone 10 ready but just waiting to put it out. But she loves Apple and especially her iPhone and her MacBook Air. "As long as I have my MacBook Air and my iPhone, I'll be fine", the model told CNBC's Jon Fortt at Internet Week New York. I wonder want she thinks of the potential Beats headphones deal...

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Michael Lewis Wearing Beats by Dre Headphones

May 18, 2014
J. Webster
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Even writer Michael Lewis wears Beats by Dre headphones....funny how he wore the big red headphones on 60 Minutes. Was he like wait, let me put my Beats headphones on so they get some air time too. Does he have a deal with Beats?

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Ronan From Flashboys Is Very Funny And Likes To Use the F Word

May 18, 2014
J. Webster
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Sort of an underlying theme in Michael Lewis' book Flash Boys is the Wall Street outsider or immigrant or someone who didn't go to all the top Wall Street type business schools ends up working on Wall Street and fighting for fairness in the market. One such character is Ronan Ryan, who likes to use the F word and also has some of the funniest things to say in the book. Ronan is the expert on high-frequency trading before there were experts on high-frequency trading. Here are just a few of his funny quotes in the book

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Bill Clinton’s Advice to Tim Geithner During Financial Crisis

May 9, 2014
J. Webster
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During Tim Geithner's time as Treasury secretary, when everyone hated all the big banks, Geithner sought out some advice from former president Bill Clinton on "how to pursue a more populist strategy". In other words, how to combat the lessen the backlash for the bailout of the banks and win over some Occupy Wall Street protesters and Tea Party members. Clinton basically told Geithner that the bailout of the banks and the investment firms like Goldman Sachs were going to be hated and there was nothing he could really do about it - poor Lloyd Blankfein though, wonder what the Goldman

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Warren Buffett’s Not Worried About Bank of America

May 3, 2014
J. Webster
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At the cult like annual shareholders meeting for Berkshire Hathaway, Warren Buffett had this to say about Bank of American's recent $4 billion mistake:
Responding to a question about Bank of America’s recent troubles — having to withdraw a stock buyback and suspend a planned increase in its dividend because it miscalculated its capital reserves by $4 billion — Mr. Buffett was fairly succinct. “That error doesn’t bother me,” he says. Bank of America will suffer the consequences of its mistake, but it hasn’t changed his view of the firm “one iota.” The Berkshire chief has invested $5 billion in preferred shares of

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