Author

Edward Harrison 7783 posts 575 comments

Edward Harrison is a senior Editor at Bloomberg. He is also the founder of Credit Writedowns newsletter, a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.

News

Links: 2009-07-09

Edward Harrison Jul 9, 2009

Harlem’s Real Estate Boom Becomes a Bust - NYTimes.com It's not just luxury in Manhattan that is getting killed More losses are reported by Alcoa - BBC News Alcoa beat estimates. So, long story short, people like numbers. The…

Economy

Financial Alchemy at Morgan Stanley: Greywolf A3 CDOs now Aaa bonds

Edward Harrison Jul 8, 2009

The Online Merriam-Webster Dictionary describes alchemy as “a power or process of transforming something common into something special” or “aiming to achieve the transmutation of the base metals into gold.” Well, it seems Morgan…

Economy

UBS woes with IRS have Swiss worried

Edward Harrison Jul 8, 2009

The U.S. has been using the weakness of the UBS banking franchise to shake down the organization for the names of American clients suspected of using the bank to dodge taxes in the United States. As far as the Swiss government is concerned,…

Business

Alcoa earnings on deck, but focus on FedEx and UPS

Edward Harrison Jul 8, 2009

I have been looking forward to the Alcoa (AA) earnings report, due out later today, because of what it suggests about the economy. As the economy bottoms, the fortunes of cyclical companies that are leveraged to the overall state of…

Political Economy

China detains Rio executive on suspicion of espionage

Edward Harrison Jul 8, 2009

Rio Tinto was one of those companies which levered up just as the economy was turning down, rushing its bottom line ad forcing it into the hands of Chinalco, a large Chinese commodities company. However, as commodity prices have…

News

Links: 2009-07-08

Edward Harrison Jul 8, 2009

Dr. Doom: Where we're going we don't need roads - Dealbreaker Marc Faber's July Newsletter. On Robert S. McNamara - James Fallows Very good obit on McNamara. Regulation And Oversight Of Gun Sales Reduces…

Markets

Rosenberg: Market rally is just multiple expansion

Edward Harrison Jul 7, 2009

David Rosenberg is out with a bearish piece on equities today (I hop that doesn’t surprise you). He sees the market as still overvalued at these levels. The key, he say is that most of the rally has been built on multiple expansion and not…

Economy

Hugh Hendry: “China is Santa Claus”

Edward Harrison Jul 7, 2009

In talking to the FT’s Gillian Tett, Hugh Hendry of The Eclectica Fund makes the hilarious metaphor of China as Santa Claus bringing gifts to a world constrained by excessive Western government debt issuance. But, Hendry thinks the…

Political Economy

Does the US need a second stimulus package?

Edward Harrison Jul 7, 2009

Laura Tyson, an advisor to President Barack Obama, said in a speech to day in the lead up to the –8 conference that the ground work for a potential second stimulus bill must be laid now. To be sure, the G-8 leaders are expected to recommend…

Economy

Consumer loan delinquencies paint bleak picture

Edward Harrison Jul 7, 2009

This comes from Reuters: Fallout from a still deteriorating housing market caused the rate of consumer loan payments at least 30 days late to rise to 3.23 percent in the January-to-March period from 3.22 percent in the 2008 fourth…

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