Thursday, June 10, 2010

The Balance-Sheet Recession

The CFA Institute is holding it conference in Boston. The Wall Street Journal reporter, Donna Kardos Yesalavich, speaks with Nomura Research Institute's chief economist, Richard C. Koo, who describes the current recession as a "Balance-Sheet Recession." 6/4/2010 2:39:28 PM

Sunday, June 06, 2010

Banks and Risk

The Economist walks through how financial institutions misread the risks they were taking, and were more vulnerable than they imagined in this video.

Stephen Roach: Unconscionable Policy Blunders

Stephen Roach, the chairman of Morgan Stanley Asia on the bittersweet taste of vindication and China's role in the economic crisis:

Myron Scholes on Financial Innovation and Regulation

Myron Scholes is a Nobel Laureate for his work in financial innovation, the Frank E. Buck Professor of Finance, Emeritus, at the Stanford Graduate School of Business, and the chairman of Platinum Grove Asset Managemen. The seemingly esoteric mathematical model he and Fisher Black developed for pricing options is now checked on every trading floor and is used even by stogy accountants. The Economist interviews him on why innovation must lead, how markets should be regulated, and why taking huge risks became so comfortable going into the financial crisis.

The Economist on the The German Economy

What China Sees as Its Borders are not What its Neighbors See Them

In this video the Economist reviews the history that has led to suspicions between China and its neighbors that bedevil its boundaries to the east, south and west:

Please note that the Republic of China overthrew the last Chinese dynasty.  When Mao Zedong led the Chinese Communist revolution against the Republic, he eventually conquered the mainland after Japan withdrew.  Chiang Kai-Shek retreated to the island of Taiwan with his government.

Asia's growing economic power.

The Economist shows graphically that Asia is regaining the economic dominance it enjoyed a millennium ago - but it still has some way to go.

The "B" in BRIC is Brazil and Henrique Meirelles is Brazil's Banker

My four favorite central bankers are Thomas Hoerner, Glenn Stevens, Mark J. Carney and Henrique Meirelles.

Henrique Meirelles is the president of Brazil's Central Bank. In this video he has tea with the Economist and says there's no room for complacency despite Brazil's impressive economic performance.

Saturday, June 05, 2010

Treasury Securities ar ethe Risk Free Asset...For Now

On, James Mackintosh, investment editor, explained in a May 27 2010 video how the dollar remains the world’s reserve currency despite the enormous US budget deficit. (1m 48sec)

But we can only print dollars to pay off our debt if countries take those dollars.  Can we fool all the countries all the time?

Apple vs. Microsoft II

Clare McKeen argues that you should hold both cool Apple and Stogy Microsoft.

Have Stocks Fallen Too Far?

On June 1st, 2010 Jennifer Hughes, senior markets correspondent for the Financial Times, asked whether the stock market sell-off overdone.  Looking at the ISM’s purchasing manager’s survey and anticipating  Friday non-farm payrolls data thought that a week of good news from big headline data could mark a turning point, and given the current pessimism pervading the market, the real tail risk might be a move to the upside. (2m 34sec)

Unfortunately, the BLS disappointed.

Mark Hurd, CEO of Hewlett-Packard

Jun 3 2010 Mark Hurd, CEO of Hewlett-Packard, speaks to Richard Waters, FT West Coast editor, about acquiring Palm, moving into the smartphone market, vertical integration and the impact of the Foxconn suicides. (11m 24sec)

They discuss business models, vertical integration, and product innovation.

Can the BLS Move the Dollar? If So, Which Way?

On June 3rd, 2010, James Mackintosh, investment editor for the Financial Times, looked forward to the Bureau of Labor Statistic (BLS) monthly employment report from the US. He discusses how interest rates and the strength of the economy inter -react with foreign exchange markets in determining the value of the dollar. (2m 15sec)

Tuesday, June 01, 2010

U.S. High Yield Default Spread Premia

BRIC Solid Growth For the P&Gs of the World

Apr 29 2010: Consumer goods companies are coming back.  Jonathan Birchall in this video, reports on solid results from Procter & Gamble, Colgate-Palmolive and Unilever, fuelled by demand in emerging markets. (1m 35sec)

Money Illusion

Bursting Bubbles Leave Their Marks

March 9 is the tenth anniversary of the crash of Nasdaq's bubble.

In this video,John Authers opines that we are still suffering consequences.

What a Difference a Year Makes: US TV networks

In this May 20 Video,Kenneth Li notes how TV networks are re-thinking business models. On and off screen, the media industry is returning to comfort zones disturbed in recent years by thousands of alternative sources of entertainment on the internet. Across the media sector, executives were eager to convince advertisers that television is as resilient as it was in the eras they are harking back to. (1m 54sec)