Thursday, December 10, 2009

 

Late Lunch Linkage: Venture capitalists sounding hopes of IPO rebound

• Now Let Us Admire The Clever Way In Which BAC Has Screwed Taxpayers Again - businessinsider
• Weekly Initial Unemployment Claims Increase to 474,000 - calculatedriskblog
• Massive Construction Boom Causes Saudi Arabia To Run Out Of Sand - businessinsider

• The Low-Risk Way to Ride the Rally - fool
• Weekly Jobless Claims Increase 17,000 to 474,000 - foxbusiness
• Costco's Profit Inches Higher, Meets Expectations - foxbusiness

• How To Make The World's Easiest $1 Billion - businessinsider
• Inflation Returns to China - online.wsj
• [KR04] Keiser Report with Steve Keen - maxkeiser

• Venture capitalists sounding hopes of IPO rebound Therese Poletti's Tech Tales - marketwatch
• Is Open Innovation Over? - businessweek
• The China Bubble - forbes

• NYSE Short Interest Stays Flat At 13.2 Billion Shares, Down 12% Over Prior Year - zerohedge
• Investing in a High Unemployment Era - fool
• That Nice Mrs. Romer Is . . . Dangerous - zerohedge

Permalink posted by markw @ 11:08 AM
 

Breakfast Briefing: Translating Nest Eggs Into Retirement Income

• Translating Nest Eggs Into Retirement Income - foxbusiness
• Bank Of America Completes Repaying $45 Bln In TARP - foxbusiness
• Most of Madoff's victims are still wrestling with his mess - money.cnn

• Stimulus Checkup - 100 Ridiculous Projects Funded by the American Recovery Act - globaleconomicanalysis
• Cavuto: More Stimulus an Unstimulating Reality - foxbusiness
• Bank of America: Check's in the mail - money.cnn

• Comedy Central Takes On The Federal Reserve - zerohedge
• TARP Extended, Now a "Petty Cash Drawer for Politically Favored Interests" - globaleconomicanalysis
• The Rentership Society - calculatedriskblog

• MBA: Mortgage Refinance Applications Increase - calculatedriskblog
• Consumers Permanently Downgrading Brands They Buy - consumerist
• Irrational Exuberance: Then & Now - ritholtz

• Citi Plans $20 Bln Offering To Repay TARP - foxbusiness
• SunGard Enhances FastVal Independent Valuation Service - wallstreetandtech
• Can Americans no longer afford insurance? - Intl. Assoc. of Registered Financial Consultants - producersweb


Permalink posted by markw @ 4:56 AM
 

Canadians not confident that they have enough life insurance: survey

A third of Canadians feel that they do not have enough life insurance for their family’s needs, a recent RBC Insurance survey reveals... Of more than 1,000 Canadians polled by Ipsos Reid in early November, only 68% said they feel like they have enough life insurance for their family’s needs... The survey found that adults with children are particularly concerned about the effects of a death or disability. Of parents surveyed, 76% said they worry about what would happen to their family if their income dropped because of death or illness... Investment Executive: Canadians not confident that they have enough life insurance: survey

Permalink posted by markw @ 4:40 AM
 

New York Life Broadens Its Fund Distribution

New York Life Investments is expanding its lineup of stand-alone, stable-value offerings by adding products and increasing distribution to include third-party channels... The unit of New York Life Insurance Co. announced Monday that it would make its two stable-value products—the Guaranteed Interest Account, which was introduced in July and has accumulated $400 million of assets, and the New York Life Insurance Company Anchor Account, which was started in 1995—available to third-party advisers and financial planners... INN: New York Life Broadens Its Fund Distribution

Permalink posted by markw @ 4:38 AM

Wednesday, December 09, 2009

 

SEC targets rating agencies' role in meltdown

The Securities and Exchange Commission's enforcement chief says his staff is targeting Wall Street rating agencies and their role in the financial meltdown... The three dominant agencies -- Moody's Investors Service, Standard & Poor's and Fitch Ratings -- have been widely criticized for failing to give investors adequate warning of the risks in subprime mortgage securities, whose collapse touched off the financial crisis... Yahoo! Finance: SEC targets rating agencies' role in meltdown

Permalink posted by markw @ 1:49 PM
 

Evening Education: MS says Fed to Raise Rates in 2nd Half of 2010

• Cash for Caulkers could mean $12K per home - money.cnn
• Obama proposes tax cuts for small businesses - marketwatch
• Morgan Stanley: Fed to Raise Rates in 2nd Half of 2010 - calculatedriskblog

• Five Tips for Keeping a Healthy Credit Score - foxbusiness
• Available Labor Rate Increases To 10.2% - ritholtz
• GE Expects GE Capital To Recover Starting in 2011 - foxbusiness

• American Funds top choice for marketing materials - investmentnews
• Obama Focuses on Jobs, Infrastructure, Energy Rebates - online.wsj
• 6 Credit Card Fee Traps To Avoid - consumerist

• BLS: Near Record Low Labor Turnover - calculatedriskblog
• Homes lost nearly a half trillion in value in 2009 - money.cnn
• US Jobs Bill Could Cost Up to $200 Billion - cnbc

• Republicans Rally Against Using TARP as 'Slush Fund' - bloomberg
• Cost of Insuring Dubai Debt Soars - CNBC - cnbc
• Japan Economy Grows 1.3%, Less Than Initial Estimate of 4.8% - bloomberg

Permalink posted by markw @ 1:33 PM
 

Lowered Expectations: The New Retirement Reality

As investors emerge from a “lost decade” financially, the AARP says investors need to work with a financial advisor as part of a program to get back on track to get individuals back on track... Financial Planning: Lowered Expectations: The New Retirement Reality

Permalink posted by markw @ 9:55 AM
 

Breakfast Briefing: American Funds top choice for marketing materials

• Cash for Caulkers could mean $12K per home - Dec. 8, 2009 - money.cnn
• Obama proposes tax cuts for small businesses - marketwatch
• Morgan Stanley: Fed to Raise Rates in 2nd Half of 2010 - calculatedriskblog

• Five Tips for Keeping a Healthy Credit Score - foxbusiness
• Available Labor Rate Increases To 10.2% - ritholtz
• GE Expects GE Capital To Recover Starting in 2011 - foxbusiness

• American Funds top choice for marketing materials - investmentnews
• Obama Focuses on Jobs, Infrastructure, Energy Rebates - online.wsj
• 6 Credit Card Fee Traps To Avoid - consumerist

• BLS: Near Record Low Labor Turnover - calculatedriskblog
• Homes lost nearly a half trillion in value in 2009 - money.cnn
• US Jobs Bill Could Cost Up to $200 Billion - cnbc

• Republicans Rally Against Using TARP as 'Slush Fund' - bloomberg
• Cost of Insuring Dubai Debt Soars - CNBC - cnbc
• Japan Economy Grows 1.3%, Less Than Initial Estimate of 4.8% - bloomberg

Permalink posted by markw @ 5:16 AM
 

Financial planners tell House: Don't put us under Finra

More than 1,000 financial planners contacted members of the House to oppose a provision in financial-reform legislation that could put many advisory firms under the jurisdiction of the Financial Industry Regulatory Authority Inc... Investment News: Financial planners tell House: Don't put us under Finra

Permalink posted by markw @ 4:59 AM
 

Recession Increases Demand For Retirement Advice

Investors are changing their lifestyle and some are delaying retirement as a result of the financial crisis, according to study released Tuesday by the Financial Planning Association... The annual survey of financial advisors’ perceptions of the retirement income distribution market, which was conducted by Diversified Services Group, polled financial planners with clients who are in or near retirement and found that 40% of clients had to change their lifestyles this year, most likely as a result of the economic downturn... Bank Investment Consultant: Recession Increases Demand For Retirement Advice

Permalink posted by markw @ 4:58 AM
 

Playing the New 'Roth' Angle

Thanks to a new rule, high-income investors have a chance to save a bundle on taxes in retirement. And financial advisers are scrambling to help them do it... Starting Jan. 1, all investors will be allowed to transfer retirement assets from traditional individual retirement accounts to Roth IRAs—which means paying taxes now but then enjoying tax-free investment gains and withdrawals. Currently, only people with modified adjusted gross income under $100,000 can make the switch... WSJ: Playing the New 'Roth' Angle

Permalink posted by markw @ 4:55 AM

Tuesday, December 08, 2009

 

Lunch Linkage: Government 'Out of Bullets,' Consumers in Trouble

• Government 'Out of Bullets,' Consumers in Trouble: Whitney - cnbc
• Collapse In Tax Withholdings Refutes Improvements In Either Unemployment Or Corporate Profitability - zerohedge
• Sad People Spend More Money - tipd

• Mexican Stock Exchange Shuts Down For "Administrative Recess", Or Merely Redefining The Siesta Break - zerohedge
• Meredith Whitney Continues The CNBC Doomsayer Tour - zerohedge
• CEOs Are Bullish on Sales, But Not on Hiring - foxbusiness

• Millions More At-Risk of Default Than Most Think - ritholtz
• Push to Finish Tallest Tower - online.wsj
• Morgan Stanley: Fed to Raise Rates in 2nd Half of 2010 - calculatedriskblog

• More Bad News For Dubai As Istithmar Loses Foreclosure Auction For Union Square W Hotel - zerohedge
• U.S. stocks drop sharply as global worries weigh - marketwatch
• Coming Collapse of Municipal Bonds; States, Cities Dig Deeper Holes - globaleconomicanalysis

Permalink posted by markw @ 12:33 PM
 

Breakfast Briefing: No Escape From TARP for Banks Choking on RE Loans

• People sign petition to "increase inflation to 100%" to purposely cause hyperinflation - globaleconomicanalysis
• Bernanke: Too Early to Declare Lasting Recovery - online.wsj
• Beijing looks to real estate as growth driver - marketwatch

• Comparing Presidents' Real GDP per Capita, late 2009 edition - angrybear
• Now the Kashkari Puff Piece Makes Perfect Sense - zerohedge
• Bernanke sees headwinds continuing to hurt U.S. economy - money.cnn

• Obama: Use TARP for job creation - money.cnn
• Advertising Spending to Stabilize in 2010 - online.wsj
• Bank of America: 2/3 of Borrowers May Lose Mods - cnbc

• Elizabeth Warren: The Coming Collapse of the Middle Class: - ritholtz
• Your COBRA Subsidy Is Ending, What Now? - consumerist
• NBER Members: Recession Over, Date TBD - ritholtz

• Priority? What's That? - market-ticker.denninger.net
• U.S. hiring to pick up modestly - Manpower survey - Dec. 8, 2009 - money.cnn
• No Escape From TARP for U.S. Banks Choking on Real Estate Loans - bloomberg

Permalink posted by markw @ 5:15 AM
 

Accounting Change to Boost Insurers' Books by $11 Billion

State insurance regulators approved an accounting change tied to income taxes expected to add more than $11 billion in capital to life insurers' balance sheets at year-end... The change represents one of the biggest single capital-relief items sought by the life-insurance industry in a package of overhauls presented by a major trade group late last year... WSJ: Accounting Change to Boost Insurers' Books by $11 Billion

Permalink posted by markw @ 4:53 AM
 

MetLife Expects to Report First Net Income in Year

MetLife Inc., the biggest U.S. life insurer, expects to report its first profit in a year in the fourth quarter as investments in private equity, hedge funds and other holdings recover... Net income in the period will probably fall to $340 million to $485 million from $954 million in the fourth quarter of 2008, the New York-based company said today. MetLife, which used hedges to post profits last year as markets declined, accumulated $2.57 billion in net losses in the first nine months of 2009 as stock and bond indexes recovered... Bloomberg: MetLife Expects to Report First Net Income in Year

Permalink posted by markw @ 4:52 AM
 

Commercial MBS Delinquencies Rise in Third Quarter

While residential foreclosures get most of the publicity, delinquency rates for mortgages in the commercial sector are also rising according to data released today by the Mortgage Bankers Association (MBA)... MBA's Commercial/Multifamily Delinquency Report tracks commercial delinquencies among five investor groups, each of which reports its delinquencies in its own way. Therefore, rates are not comparable from group to group... Mortgage News Daily: Commercial MBS Delinquencies Rise in Third Quarter

Permalink posted by markw @ 4:51 AM

Monday, December 07, 2009

 

Fidelity variable annuity charges a high cost for a guaranteed income

Fidelity Investments has joined the rush to "living benefits." Partnering with Metropolitan Life, it now offers a variable annuity that guarantees 4 to 6 percent distributions from your original investment each year for life — regardless of what happens to the stock and bond markets... Unfortunately, living benefits aren't as good as they seem. The basic problem is simple... Statesman: Fidelity variable annuity charges a high cost for a guaranteed income

Permalink posted by markw @ 10:01 AM
 

Lunch Linkage: MetLife outlook better than average expectations

> Most Recent Insider Selling to Buying Ratio: 82:1 - zerohedge
> Police, Protesters Clash at Iran University - online.wsj
> U.S. Stocks Rise as Health-Insurer Rally Offsets Oil Retreat - bloomberg

> Carney Bank of Canada Rates in Housing Boom Prompt Bubble Talk - bloomberg
> Dollar Strength And Potential Depth Thereof - zerohedge
> Deep Deflationary Thoughts From Van Hoisington Of Wasatch Funds - zerohedge

> Millions More Are At Risk Of Foreclosure Than Anyone Realizes - businessinsider
> US Mint Runs Out Of Tenth-Ounce Gold Coin Inventory Day After Its Release For Broad Purchase - zerohedge
> Trapped under TARP: Regional Banks and Real Estate Loans - calculatedriskblog

> U.S. Bank Bailout Estimate Cut by $200 Billion - foxbusiness
> Treasury Hesitant to Sell Stake in Citi - foxbusiness
> Who Wins When the US Dollar Falls? - ritholtz

> 6 Investing Myths - tipd
> Where to invest funds for a down payment - Dec. 7, 2009 - money.cnn
> Michael Boskin on 'The Obama Crash' - ritholtz

> Employment Trend Strengthens, Conference Board Says - online.wsj
> Carbon trading awaits U.S. adoption before takeoff - marketwatch
> AT&T Wants Your Help Finding Crappy iPhone Service Areas (T, AAPL) - businessinsider

> Cadbury to Respond to Kraft Offer Next Week - foxbusiness
> S&P Prepares To Cut Greece Rating For Second Time In One Year - zerohedge
> MetLife outlook better than average expectations - cnbc

Permalink posted by markw @ 10:00 AM
 

Financial Planners Fight Madoff Taint

Bernard Madoff's investors aren't the only ones suffering through the aftershocks of his epic fraud. A cloud of suspicion hangs over the financial planning industry, forcing even longtime veterans adjust their business practices and reassure skittish clients... "In the wake of that scandal, people don't know whom to trust," says Michael Garry, who runs his own wealth management firm in Newtown, Penn... For Roger Balser, managing partner of Balser Wealth Management in Avon, Ohio, the Madoff mess unleashed an avalanche of new paperwork demands... WIBW: Financial Planners Fight Madoff Taint

Permalink posted by markw @ 5:52 AM
 

Breakfast Briefing: Employment and Real GDP

> Obama Seeks to Rally Senate Democrats on Final Health-Care Plan - bloomberg
> Employment and Real GDP - calculatedriskblog
> Paradise Lost for Wealthy Resort Novice - online.wsj

> Estimated TARP Cost Is Cut by $200 Billion - online.wsj
> Financial Times: Bear Stearns and Lehman Executives Cashed in before Collapse - calculatedriskblog
> Nothing Is As It Seems: Factory Orders and Unemployment - zerohedge

> US Forecasts Smaller Than Expected Loss From Bank Bailout - CNBC - cnbc
> Are You Too Smart to Be Rich? - fool
> Why Startups and Web Innovation Need Net Neutrality - businessweek

> Gold: Technical Correction Before the Final Frontier - zerohedge
> PF Weekly Roundup >> JoeTaxpayer - tipd
> What $700 Billion Of Stress Tastes Like - businessinsider

> No Winners if Yuan Rises, Says China Think-Tank - cnbc
> Dubai Govt Ring-Fences Key Assets, Shares Tumble - cnbc
> Gold Futures Fall 2%, Extending Recent Losses - foxbusiness

> China: We Won't Take Away The Punch Bowl Any Time Soon - businessinsider
> Market Hesitant, Futures Point to Mixed Open - CNBC - cnbc

Permalink posted by markw @ 5:18 AM
 

Fresh Pay Skirmish Erupts at AIG

Five high-ranking executives at American International Group Inc. said last week they were prepared to quit if their compensation is cut significantly by the insurer's government overseers, according to people familiar with the matter... The threat is the latest in the running fracas between AIG and the government's compensation czar, Kenneth Feinberg, who is charged with setting pay limits for top executives at companies receiving the most federal bailout money... WSJ: Fresh Pay Skirmish Erupts at AIG

Permalink posted by markw @ 4:22 AM
 

Pacific Insurance Said to Sell $3.3 Billion of Shares

China Pacific Insurance (Group) Co. and the country’s pension fund plan to raise as much as HK$25.93 billion ($3.3 billion) in a Hong Kong share sale that may be the city’s second-biggest this year, four people familiar with the plan said... Bloomberg: Pacific Insurance Said to Sell $3.3 Billion of Shares

Permalink posted by markw @ 4:20 AM
 

The Next Shoes To Drop In Commerial Real Estate - Part 1

Everyone is now well aware of the plight of Stuy Town, which has become a set fixture on the front page of the daily press, and is expected to default on its underlying borrowings within a few months at the most. What will happen to the controlling equity, and the tenants at the multiapartment complex, is unknown. It is no surprise that this will be yet another epic failure for the existing owner, Tishman Speyer, which after gobbling up property after property at the peak of the housing market, is all too aware that it is only a matter of time before control is wrested from it not only in the case of Stuy Town but many of its other properties... Zero Hedge: The Next Shoes To Drop In Commerial Real Estate - Part 1

Permalink posted by markw @ 4:14 AM

Friday, December 04, 2009

 

A Contained Depression

The economy may be turning the corner, but it's going to take a very long time to return to normal, predicts David Levy of the Jerome Levy Forecasting Center. - If you're breathing a little easier because the Great Recession seems to be ending, consider this: the U.S. economy may remain in a "contained depression" for months or years to come. That warning comes from economist David Levy, chairman of the Jerome Levy Forecasting Center, an economic research and consulting firm. Levy originally coined the term to describe the recession of 1990-1991 and the subsequent halting, jobless recovery. Earlier this week he talked with CFO about the prospect of a similar scenario unfolding today. An edited version of the interview follows... CFO: A Contained Depression

Permalink posted by markw @ 12:54 PM
 

Lunch Linkage: Malpass: Near-Zero Rates Are Hurting the Economy

• Unemployment Rate Falls to 10% - online.wsj
• 10 Brands That Will Disappear In 2010 - businessinsider
• Job creation near but likely to be painfully slow - finance.yahoo

• Hiring managers say December is a great time to get a job - money.cnn
• SEC to consider putting an end to 12(b)-1 fees - investmentnews
• David Malpass: Near-Zero Rates Are Hurting the Economy - online.wsj

• Employment Report: 11K Jobs Lost, 10% Unemployment Rate - calculatedriskblog
• The Welfare State and Military Power - online.wsj
• Jobs Contract 23rd Straight Month; Unemployment Rate Drop to 10.0% - globaleconomicanalysis

• Senator Bunning to Bernanke "You are the definition of a moral hazard..." - globaleconomicanalysis
• Unemployment Drops Amazingly To 10%, NFP Down 11.000 Much Higher Than Consensus, 17.2% U-6 - zerohedge
• Broken Correlations - zerohedge

• Almost Creating Jobs! - forbes
• Early-Market Movers: Big Lots, Take Two Interactive - foxbusiness
• Coal Consumers Switching To Use Natural Gas (UNG) - businessinsider

• Japan Says It Has No Plans to Sell US Treasurys - CNBC - cnbc
• ICAP On The Correlation Collapse - zerohedge
• Seasonal Retail Hiring, Employment-Population Ratio, Part Time Workers - calculatedriskblog

Permalink posted by markw @ 8:53 AM
 

Principal Financial outlook disappoints, shares fall

* Stands by long-term earnings goal; * Shares down 11.2 percent; -- Life insurer Principal Financial Group Inc (PFG.N) forecast 2010 operating earnings below Wall Street expectations on Thursday, sending its shares down more than 11 percent... Reuters: Principal Financial outlook disappoints, shares fall

Permalink posted by markw @ 6:25 AM
 

Breakfast Briefing: Rate on 30-year mortgage falls to new low

• The Untold Story - Emergency Unemployment Compensation Surge By 265k In One Week - zerohedge
• Why A Comcast/NBC Merger Is Bad News - consumerist
• Tiger Woods Offers Wife $60 Million To Stay Married For Another Two Years - businessinsider

• Jim Bunning does not heart Ben Bernanke - ritholtz
• Geithner to FBN: U.S. Made $2B on Bank of America Deal - foxbusiness
• Top Paying Jobs - finance.yahoo

• Rate on 30-year mortgage falls to new low - marketwatch
• Dubai: credit crisis enters new phase - maxkeiser
• BofA offers stock shares at a discounted $15 - money.cnn

• Who Are Wall Street Most Accurate Economists? - ritholtz
• More On The Incomplete Picture Presented By Initial Jobless Claims - zerohedge
• Study Shows Significant Customer Base Growth for Banks Offering Mobile Financial Services - foxbusiness

• Business-mileage Deduction Rate Drops Steeply - foxbusiness
• Treasury, DoL, look for ways to beef up 401(k) options - investmentnews
• Focus Financial exercises 'option' to buy breakaway-broker firm - investmentnews

Permalink posted by markw @ 5:20 AM
 

MassMutual Sues Rothstein Over $14.8 Million Insurance Policy

Massachusetts Mutual Life Insurance Co. sued Scott Rothstein, the ex-Florida lawyer charged with running a $1.2 billion Ponzi scheme, over a $14.8 million life insurance policy.

Rothstein misrepresented his income in seeking the policy last year, saying he made $8 million a year and had a net worth of $12 million, MassMutual said in a complaint filed in federal court in Miami on Dec. 2.

“If MassMutual had known that the source of Rothstein’s alleged income and net worth was derived from illegal activity, to wit, running a Ponzi scheme rather than actually practicing law, it would not have issued the policy,” MassMutual said in the lawsuit, which asks a judge to cancel the policy...

Bloomberg: MassMutual Sues Rothstein Over $14.8 Million Insurance Policy

Permalink posted by markw @ 5:03 AM

Thursday, December 03, 2009

 

New York Life agent goes prospecting on the streets

Eric Klarman talks insurance in subway stations, street corners - When cold calling chilled prospective clients, insurance agent Eric S. Klarman brought his business outside — to subway stations and on the streets of New York... Mr. Klarman, an agent with New York Life Insurance Co., has been making appearances on the streets of lower Manhattan and in Brooklyn... You might see him on a busy street or in a subway station, sitting at a table with a New York Life banner, meeting and greeting prospective clients... Investment News: New York Life agent goes prospecting on the streets

Permalink posted by markw @ 11:18 AM
 

Lunch Linkage: Here's Why The Mint Is Running Out Of Gold Coins

• The recession helped Wal-Mart. Will a recovery hurt? - money.cnn
• November same-store sales miss expectations - marketwatch
• Intervention, Not Wisdom - ritholtz

• Stock futures boosted by Bank of America's TARP pay plan - investmentnews
• Deutsche Bank: Beware Sovereign Defaults And The End Of The Dollar Carry Trade In 2010 - businessinsider
• The Dubai File: Is Venezuela Headed for a Default? - zerohedge

• Ex-church bishop pleads guilty to fraud in Ponzi scheme - investmentnews
• Here's Why The Mint Is Running Out Of Gold Coins - businessinsider
• New York Takes a Bite Out of Pensions? - zerohedge

Permalink posted by markw @ 9:01 AM
 

Americans clueless about paying for long-term care

Survey respondents think they can rely on Social Security, Medicare and regular health insurance to cover their bills - Even as long-term care costs skyrocket, many Americans have unrealistic plans for how they expect to pay for those services, according to a new survey from the LIFE Foundation... Investment News: Americans clueless about paying for long-term care

Permalink posted by markw @ 6:32 AM
 

PRACTICE MANAGEMENT:An Uncommon Approach To Taming Risk

Adviser Mitch Silberman's client was worth about $5 million and, at age 62, thinking about retirement... She knew her portfolio was over-concentrated in equities. What's more, her stock holdings consisted almost entirely of her employer's shares... Silberman, who is president and CEO of Silberman Wealth Management in Westlake Village, Calif., had something of a specialty in working with people in her situation: female scientists who built accomplished careers at biotechnology giant Amgen. Almost uniformly, they ended up with concentrated portfolios of highly appreciated Amgen stock... WSJ: PRACTICE MANAGEMENT:Finding An Uncommon Approach To Taming Risk

Permalink posted by markw @ 5:49 AM
 

Breakfast Briefing: Goldman Forecast: Unemployment to Peak in 2011

• Goldman Forecast: Unemployment to Peak in 2011 - calculatedriskblog
• More Men Have Something They Want to Get Off Their Chests -- Their Shirts - online.wsj
• It's Official, Everybody Hates AT&T - consumerist

• Bank of America to Repay $45 Billion in TARP - online.wsj
• Go Ahead, Strategically Default On Your Underwater Mortgage - consumerist
• 17 million Americans have no bank account - money.cnn

• FHA wants to make mortgage borrowing more expensive - Dec. 2, 2009 - money.cnn
• Matt Taibbi Exposes Obama's Wall Street's Inner Circle, Pays Particular Homage To Robert Rubin - zerohedge
• Bears In Hibernation - globaleconomicanalysis

• Is StockTwits the New Yahoo Finance? - minyanville
• Fed's Beige Book: Economy "improved modestly" - calculatedriskblog
• Did Dubai Signal the Next Bump in the Road? - smartmoney

• Former Managing Director of Goldman Sachs: Accounting Fraud ...May Be Worse Than Enron - zerohedge
• The State Of Bank Foreclosures - tipd
• Gross: Returns will be half what they were - investmentnews

Permalink posted by markw @ 5:43 AM
 

CRE-Related Losses Could Top $19 Billion for Life Insurers

Despite a declining outlook for all U.S. CMBS property types and escalation of losses, the U.S. life insurance sector should be able to manage its exposure to commercial real estate-related losses in the near to intermediate term, according to Fitch Ratings in a new report... However, in some cases, Fitch said it believes life insurer ratings may be downgraded due to the added pressure on capital and earnings from CRE-related losses, when taken together with losses on other asset classes and products... Costar: CRE-Related Losses Could Top $19 Billion for Life Insurers

Permalink posted by markw @ 4:56 AM
 

AIG’s ‘Tainted Brand’ in U.K. Hurts Life Insurer Unit

American International Group Inc. suffered an 87 percent quarterly sales decline at its European life business as U.K. clients abandoned the firm, draining value from operations the insurer is selling to repay a U.S. bailout... AIG halted withdrawals on its Premier Access Bond investment offering in the U.K. last year, and the closure drove third-quarter European premiums and deposits to $256 million from $1.97 billion a year earlier. The investment, promoted to savers who wanted “easy access” to funds, was marketed by banks including Coutts & Co., which counts Queen Elizabeth II among its clients... Bloomberg: AIG’s ‘Tainted Brand’ in U.K. Hurts Life Insurer Unit

Permalink posted by markw @ 4:26 AM

Wednesday, December 02, 2009

 

Late Lunch Linkage: Are We Coming Out of Recession?

• Cross-post: A human economy for the twenty-first century - angrybear
• Challenger jobs report shows pace of cuts easing in November - money.cnn
• ADP: Private Employment Decreased 169,000 in November - calculatedriskblog

• October Credit-Card Delinquencies Rise Again, Approach Record Highs Says Fitch - zerohedge
• Google limits free news access - Dec. 2, 2009 - money.cnn
• Charting The Great World Trade Collapse - zerohedge

• Are We Coming Out of Recession? - ritholtz
• Does a 'New Normal' Include Millions of Homes Forever in Foreclosure? - seekingalpha
• Preparing For Difficult Times: When The Money Manager Is Unable To Perform Responsibilities - tipd

• Good Data and Flawed Conclusions - online.wsj
• Geithner: There Must Be Derivatives Rules for All - Law and Regulation * US * News * Story - cnbc
• What is Left of the US Dollar? - ritholtz

• The Greatest Deception in the History of Finance - ritholtz
• Roads to war, quagmires and emergency credit - maxkeiser
• Today's Tip How to Value Your Business - businessweek

• How To Set Up The Ultimate At-Home Trading Station - businessinsider
• Lend America Closes Down After FHA Cancels Approval - calculatedriskblog
• Same Store Sales - angrybear

Permalink posted by markw @ 11:22 AM
 

Still Too Early to Go for Gold: Searching for Alpha, December 2009

The current “it” investment of the moment is gold. Everyone seems to be talking about the rally in what some have described as the last storehouse of value. Gold ETFs have become wildly popular. And now some of the best hedge fund managers are starting to build dedicated funds around the precious metal.

I’m not as bullish on the yellow metal, and I don’t believe that it deserves a dedicated position in most individual investors' portfolios. Why? For starters, gold is treated as a collectible by the IRS. Instead of the 15% capital long-term gains tax rate enjoyed by stocks and bonds, any profit coming from a 12-month or longer holding period is subject to a 28% tax rate. If gold is held short-term, the gain is taxed as regular income...

Investment Advisor: Still Too Early to Go for Gold: Searching for Alpha, December 2009

Permalink posted by markw @ 11:17 AM
 

PRACTICE MANAGEMENT: A Project To Tie Advisers And CPAs

Financial advisers and certified public accountants frequently work closely together. But Matthew Tuttle believes that advisers and CPAs can do more than refer clients and collaborate at tax time... "We want to be part of the CPA's back office and be responsible for making sure that their clients have the right tools to make smart choices about their money," says Tuttle, who is president of Stamford, Conn.-based Tuttle Wealth Management... WSJ: PRACTICE MANAGEMENT: A Project To Tie Advisers And CPAs (Subscription required)

Permalink posted by markw @ 6:56 AM
 

Life insurers seen getting back in black by year-end

Conning predicts $16 billion profit for the industry but expects earnings to remain well short of pre-crisis levels - Life insurers will be back in the black at the end of the year, reaping an estimated $16 billion in profits, according to new research from Conning Research and Consulting... Investment News:

Permalink posted by markw @ 4:55 AM
 

Breakfast Briefing: Commercial real estate a flop, but REITs are hot

• GE, Comcast Deal Over NBC Universal Is Complete - cnbc
• Commercial real estate a flop, but REITs are hot - investmentnews
• Sales contracts soared in October - money.cnn

• Treasury Guidance on Short Sales - calculatedriskblog
• Gold and Silver Soar as Bank of Japan Commits $115 Billion to Combat Deflation - globaleconomicanalysis
• In Trump Bankruptcy, Foes and Friends - online.wsj

• Three Dumb Things Foreign Companies Do In China - forbes
• Stock futures point to higher opening - finance.yahoo
• Deep Thoughts From James Melcher Of Balestra Capital - Must Read - zerohedge

• A Difference in Sentiment - ritholtz
• European Unemployment Remains at 11 Year High - econompicdata
• ISM and Manufacturing Employment - calculatedriskblog

• Banks' Surging Cash Holdings Indicative Of Future Writedown Concerns - zerohedge
• Buy A Home, Get Free Can Of Food - consumerist
• Construction Spending Flat in October - calculatedriskblog

• MF Global Cancels $250 Million 10 Year Bond Offering Due To "Market Conditions" - zerohedge
• Bernanke's Done Deal Reconfirmation May Not Be A Done Deal After All - zerohedge
• Philly Fed's Plossner Is First Fed Member To Publicly Disagree With Bernanke - zerohedge

Permalink posted by markw @ 4:50 AM
 

N.Y. Fed Takes Stakes in 2 A.I.G. Units

To reduce its crushing debt, the American International Group said on Tuesday that it had completed its plan to award the Federal Reserve Bank of New York a $25 billion stake in two of its big foreign life insurance subsidiaries... The transaction, known as a debt-for-equity swap, takes some pressure off A.I.G., which was at risk of a downgrade in its credit rating if the deal had not been completed, Mary Williams Walsh writes in The New York Times... Dealbook: N.Y. Fed Takes Stakes in 2 A.I.G. Units

Permalink posted by markw @ 4:41 AM

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