Browsing Tag

credit

Peter Schiff: they laughed at him, now he’s laughing back

Edward Harrison Nov 14, 2008

I have been tied up with other activities all day today. But, I just had to send this post on Peter Schiff. My brother-in-law sent me this video a second ago of Schiff predicting doom and gloom on YouTube. And it's actually kind of funny to…

Daily

The emerging markets crisis

Edward Harrison Nov 11, 2008

Last night an article by Niels Jensen of Absolute Return Partners caught my eye. In it, he made a very strong case for worrying about European bank exposure to emerging markets and its potential for creating systemic risk. I would like to…

Monetary System

Reverse carry trade borrowing is deadly

Edward Harrison Oct 31, 2008

By now, you are familiar with the carry trade, where one borrows in one's own currency in order to invest in higher yielding foreign assets, often times with significant leverage. The Japanese were famous for making this trade in…

Markets

Massive short covering at VW and massive losses for hedgies

Edward Harrison Oct 28, 2008

I ran across a very disturbing news item today that is getting a lot of press in Germany. Apparently, the leveraged finance community is getting routed at the German Automaker VW. The crux of the situation is that Porsche, which controls…

Markets

Forced liquidation

Edward Harrison Oct 27, 2008

The recent movement in global markets has me scratching my head a bit. You have people dumping gold and the Swiss Franc in order to invest in the U.S. dollar and Treasury securities. Everyone says it is a flight to quality. I do not…

Markets

Dollar strength is an illusion

Edward Harrison Oct 24, 2008

I have felt for sometime that dollar strength is a counter-trend that has a sell-by date written all over it. You see, the Federal Reserve is ballooning its balance sheet like nobody's business as it tries to be the global lender of last…

Economy

Charts of the day: US macro disequilibria

Edward Harrison Oct 17, 2008

The United States had been living beyond its means for a very long time before the credit crisis finally hit. The truth of the matter is that U.S. monetary and fiscal policy rewarded risk-taking and leverage at the expense of prudence and…

Markets

Hedge funds collapsing

Edward Harrison Oct 16, 2008

CNBC and other media sources are reporting that a number of hedge funds are collapsing under the weight of poor performance and massive fund redemption. Given the market volatility in credit, sick, bond and currency markets, it was only a…

Markets

The panic is over

Edward Harrison Oct 15, 2008

In 1999, Edward Chancellor wrote a wonderful book called "Devil Take The Hindmost," which I recommend to anyone who is interested in the history of bubbles, financial speculation, and market panics. In it, Chancellor traces the origins of…

Markets

Global asset re-pricing

Edward Harrison Oct 10, 2008

It's about 7:45 AM ET as I write this and the overseas stock markets are getting hammered. I can't say I don't fear what is going to happen today because I do. We are witnessing a meltdown of unimaginable proportions that is not just…

Previous 1 … 64 65 66 67 68 … 75 Next