Category: Hedge Funds
Listen Carefully and You Can Hear the Crumbling Of The Sovereign Nation Formerly Known As JP Morgan
First, pardon my tardy response to this JP Morgan news. I’m currently in Europe and was jet-lagged asleep when this popped. Of course, BoomBustBloggers know that I will be on the case. To begin with, a summary as pulled from ZeroHedge:
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EUROPICIDE! They’ve Pointed The Liquidity Pistol At Their Collective Heads, Cocked It, Now Hear The Trigger Pull…
And now that BoomBustBlog foretold reality comes to bite UK ass, as reported by Reuters/CNBC: Inflation-Wary Bank of England to Halt Money-Printing Press
The Bank of England looks set to call a halt to its asset-buying program, despite the econom…
To Jim Grant The World Of Finance Is Nothing But The "Truman Show"
While we have heard a lot from Jim Grant recently – all pointedly correct and substantial – today marked the pinnacle of propaganda-brinksmanship. Explaining to Maria B just why the world in which she lives, Bernanke-lovers-all, is nothing but a hall o…
Philipp Bagus on The Insolvency of the Fed
Philipp Bagus wrote a paper in 2009 which explains that the Fed will go insolvent, and sans a Treasury bailout (ie: borrowing more from the Fed than it needs, just to give the Fed more collateral assets at taxpayer expense), the asset of the unciv…
Is JPM Staring At Another $3 Billion Loss?
There are a lot of moving parts in the Dismal take of Dimon’s demise. The starting point is that Bruno Iksil in the JPMorgan CIO Office, under the premise of hedging the bank’s credit portfolio’s tail risk had placed various tranche trades (levered cre…
Big Mouth Strikes Again
A reader sent me a link to a video of Slope mascot AJC. I didn’t want to watch it, but I glanced at the text summary, which stated:
“Abby Joseph Cohen, Goldman Sachs’ senior investment strategist, says shares are set to hold value for the long run but …
20 Second Summary Of What Just Happened
What summarizes the clip below best:
A) Hubris
B) Greed
C) Stupidity
D) Moral Hazard
E) All of the above?
Here is the punchline:
The full shocking call and Q&A can be accessed here.
The "World’s Largest Prop Trading Desk" Just Went Bust
A month ago we warned that JPM’s CIO office is nothing short of the world’s largest prop trading desk. Not only were we right, but what just transpired is just shy of our worst possible prediction. At the end of the day, the real question is why did JP…
Bruno Iksil Is Dunzo
The last time a French trader delivered a bomb this big (Jerome Kerviel), the Fed cut the discount rate by 75 bps. As for this particular Frenchman, his best epitaph is his Bloomberg profile page. Recall:
“Chuck is french ; champion of ‘kick it’…
