Comments on: “Where’s The Money??….!!” http://www.noquarterusa.net/blog/2008/12/29/wheres-the-money/ Thu, 18 Mar 2010 14:09:05 -0700 http://wordpress.org/?v=2.9.1 hourly 1 By: Who Did They Think They Were Kidding? : NO QUARTER http://www.noquarterusa.net/blog/2008/12/29/wheres-the-money/#comment-1119411 Who Did They Think They Were Kidding? : NO QUARTER Mon, 19 Jan 2009 02:13:39 +0000 http://www.noquarterusa.net/blog/?p=9533#comment-1119411 [...] “Where’s The Money??….!!” (December 29, 2008) In large measure, our mainstream media has done an exceedingly poor job as to highlighting the dynamics at work in the banking system. I will utilize a tape from a high profile financial show to reveal how the media is largely pandering to the public on this topic. Prior to doing that, though, let me get very detailed in answering the question as to “where’s the money?” [...] [...] “Where’s The Money??….!!” (December 29, 2008) In large measure, our mainstream media has done an exceedingly poor job as to highlighting the dynamics at work in the banking system. I will utilize a tape from a high profile financial show to reveal how the media is largely pandering to the public on this topic. Prior to doing that, though, let me get very detailed in answering the question as to “where’s the money?” [...]

]]> By: “Spanning the Globe….” : NO QUARTER http://www.noquarterusa.net/blog/2008/12/29/wheres-the-money/#comment-1117020 “Spanning the Globe….” : NO QUARTER Thu, 15 Jan 2009 22:01:12 +0000 http://www.noquarterusa.net/blog/?p=9533#comment-1117020 [...] Where’s the Money?? . . . !! (December 29, 2008) [...] [...] Where’s the Money?? . . . !! (December 29, 2008) [...]

]]> By: “When Big Ben Speaks….” : NO QUARTER http://www.noquarterusa.net/blog/2008/12/29/wheres-the-money/#comment-1116603 “When Big Ben Speaks….” : NO QUARTER Thu, 15 Jan 2009 02:44:30 +0000 http://www.noquarterusa.net/blog/?p=9533#comment-1116603 [...] shutdown of the these markets for securitized products were the major topics of our pieces “Where’s The Money” (on December 29th) and “The Wall Street Model is Broken…and Won’t Soon Be [...] [...] shutdown of the these markets for securitized products were the major topics of our pieces “Where’s The Money” (on December 29th) and “The Wall Street Model is Broken…and Won’t Soon Be [...]

]]> By: “Market Musings on a Monday….” : NO QUARTER http://www.noquarterusa.net/blog/2008/12/29/wheres-the-money/#comment-1115210 “Market Musings on a Monday….” : NO QUARTER Tue, 13 Jan 2009 03:25:06 +0000 http://www.noquarterusa.net/blog/?p=9533#comment-1115210 [...] “Where’s The Money?” on December 29th specifically addressed the extent of losses and expected chargeoffs in our banking system. Why do the mainstream media and politicians continue to pander to the public on this topic? [...] [...] “Where’s The Money?” on December 29th specifically addressed the extent of losses and expected chargeoffs in our banking system. Why do the mainstream media and politicians continue to pander to the public on this topic? [...]

]]> By: LD http://www.noquarterusa.net/blog/2008/12/29/wheres-the-money/#comment-1102904 LD Wed, 31 Dec 2008 17:36:21 +0000 http://www.noquarterusa.net/blog/?p=9533#comment-1102904 MPC, One other book that is very strong is "The Complete Bond Book" by Darst. Good luck....keep learning!! MPC,

One other book that is very strong is “The Complete Bond Book” by Darst.

Good luck….keep learning!!

]]> By: MPC http://www.noquarterusa.net/blog/2008/12/29/wheres-the-money/#comment-1102884 MPC Wed, 31 Dec 2008 17:05:43 +0000 http://www.noquarterusa.net/blog/?p=9533#comment-1102884 Thanks, LD. I'll definitely explore as many of these as I can and see what I find. Thanks, LD. I’ll definitely explore as many of these as I can and see what I find.

]]> By: LD http://www.noquarterusa.net/blog/2008/12/29/wheres-the-money/#comment-1102288 LD Tue, 30 Dec 2008 17:47:53 +0000 http://www.noquarterusa.net/blog/?p=9533#comment-1102288 MPC, I just realized that you may have been interested in knowing what books I have read that have influenced me as well. I will try to categorize the books as follows: Pleasure Reminiscences of a Stock Operator by Edwin Lefevre Liar's Poker by Michael Lewis Bombardiers by Po Bronson Technical Inside the Yield Book by Sidney Homer and Martin Liebowitz Little Book of Common Sense Investing by John Bogle (John was one of the founding fathers of the mutual fund industry) The Little Red Book of Selling by Jeff Gitomer Warrem Buffet Speaks by Janet Lowe Inspirational They Call Me Coach by John Wooden (words to live by!!) Quiet Strength by Tony Dungy Common Sense What They Don't Teach You at Harvard Business School by Mark McCormack The Millionaire Mind by Thomas Stanley PH.D Who Moved My Cheese by Spencer Johnson M.D. I think what you may see as a theme throughout these books is a focus on the big picture. Enjoy!! MPC,

I just realized that you may have been interested in knowing what books I have read that have influenced me as well.

I will try to categorize the books as follows:

Pleasure
Reminiscences of a Stock Operator by Edwin Lefevre

Liar’s Poker by Michael Lewis

Bombardiers by Po Bronson

Technical
Inside the Yield Book by Sidney Homer and Martin Liebowitz

Little Book of Common Sense Investing by John Bogle (John was one of the founding fathers of the mutual fund industry)

The Little Red Book of Selling by Jeff Gitomer

Warrem Buffet Speaks by Janet Lowe

Inspirational
They Call Me Coach by John Wooden (words to live by!!)

Quiet Strength by Tony Dungy

Common Sense
What They Don’t Teach You at Harvard Business School by Mark McCormack

The Millionaire Mind by Thomas Stanley PH.D

Who Moved My Cheese by Spencer Johnson M.D.

I think what you may see as a theme throughout these books is a focus on the big picture.

Enjoy!!

]]> By: LD http://www.noquarterusa.net/blog/2008/12/29/wheres-the-money/#comment-1102269 LD Tue, 30 Dec 2008 17:16:49 +0000 http://www.noquarterusa.net/blog/?p=9533#comment-1102269 MPC, Thanks for "switching cars". I need to do a better job at "checking" for new riders as we make our way along. Great question!! Obviously there is an entire industry that has developed in this space and one could occupy the entire day and week reading and reviewing. I am a big believer in balance so I encourage a healthy dose of time learning about finance, the economy, and markets but within the context of a balanced life. I need to remind myself of this lesson as well. We want balance and diversity in our overall portfolio!! Back to your question. Developing a feel for this space is similar to learning a foreign language. One needs to learn the vocabulary, the figures of speech, an accent, and then perhaps axioms. For me, I spend the bulk of my time with the WSJ (as well as wsj.com). I find this to be by far and away the best periodical and website in addressing business topics. Additionally I review bloomberg.com. They are quite good as well and ahve very comprehensive reviews of different sectors of the market. Weekend reading and review also includes Barrons. I like these outlets the best because I find them timely and forward looking. The basic business magazines seem to be more looking in the rear view mirror. Two periodicals that I respect but have not spent much time reading are the Financial Times (a daily more focused globally) and The Economist. Whatever you don't understand or want clarified, bring it here to NQ and I will do my best to explain. MPC,

Thanks for “switching cars”. I need to do a better job at “checking” for new riders as we make our way along.

Great question!!

Obviously there is an entire industry that has developed in this space and one could occupy the entire day and week reading and reviewing. I am a big believer in balance so I encourage a healthy dose of time learning about finance, the economy, and markets but within the context of a balanced life. I need to remind myself of this lesson as well. We want balance and diversity in our overall portfolio!!

Back to your question. Developing a feel for this space is similar to learning a foreign language. One needs to learn the vocabulary, the figures of speech, an accent, and then perhaps axioms.

For me, I spend the bulk of my time with the WSJ (as well as wsj.com). I find this to be by far and away the best periodical and website in addressing business topics. Additionally I review bloomberg.com. They are quite good as well and ahve very comprehensive reviews of different sectors of the market. Weekend reading and review also includes Barrons.

I like these outlets the best because I find them timely and forward looking.

The basic business magazines seem to be more looking in the rear view mirror.

Two periodicals that I respect but have not spent much time reading are the Financial Times (a daily more focused globally) and The Economist.

Whatever you don’t understand or want clarified, bring it here to NQ and I will do my best to explain.

]]> By: MPC http://www.noquarterusa.net/blog/2008/12/29/wheres-the-money/#comment-1102260 MPC Tue, 30 Dec 2008 16:53:04 +0000 http://www.noquarterusa.net/blog/?p=9533#comment-1102260 LD- <em>(Posted this yesterday in the Central Station thread from last week but I think that train has more or less gone, so I thought I'd bring it in here) </em> This thought occurred to me since you always encourage people to learn, learn, learn, and particularly in your responses to justsomeone’s inquiries above <em>(in the Central station open thread; similarly your discussions with Mountainaires in this thread)</em>. I’d like to know some of your favorite or recommended literature for acquiring knowledge about finance, investments, economics, etc, either online or in print. I’ve spent an absurd amount of time reading places like wsj.com and money.cnn.com, as well as investment and personal finance books. I guess I’m interested in hearing what a seasoned professional such as yourself might recommend since the books I’ve covered so far have gotten to the point of too simple and boring, and I’d like to get some more depth and detail without having to delve into my dry, bland college econ textbooks. Thanks always for these informative postings and discussions. Keep it up. LD-

(Posted this yesterday in the Central Station thread from last week but I think that train has more or less gone, so I thought I’d bring it in here)

This thought occurred to me since you always encourage people to learn, learn, learn, and particularly in your responses to justsomeone’s inquiries above (in the Central station open thread; similarly your discussions with Mountainaires in this thread). I’d like to know some of your favorite or recommended literature for acquiring knowledge about finance, investments, economics, etc, either online or in print. I’ve spent an absurd amount of time reading places like wsj.com and money.cnn.com, as well as investment and personal finance books. I guess I’m interested in hearing what a seasoned professional such as yourself might recommend since the books I’ve covered so far have gotten to the point of too simple and boring, and I’d like to get some more depth and detail without having to delve into my dry, bland college econ textbooks.

Thanks always for these informative postings and discussions. Keep it up.

]]> By: LD http://www.noquarterusa.net/blog/2008/12/29/wheres-the-money/#comment-1102259 LD Tue, 30 Dec 2008 16:52:57 +0000 http://www.noquarterusa.net/blog/?p=9533#comment-1102259 Wow!!! I will share with you that back in the early 80s when i was a lowly grunt I worked very closely with Tom Savage at First Boston. He worked on deal structures. I had never seen this quote. Thanks for sharing. Wow!!! I will share with you that back in the early 80s when i was a lowly grunt I worked very closely with Tom Savage at First Boston. He worked on deal structures. I had never seen this quote.

Thanks for sharing.

]]> By: workingclass artist http://www.noquarterusa.net/blog/2008/12/29/wheres-the-money/#comment-1102243 workingclass artist Tue, 30 Dec 2008 16:21:12 +0000 http://www.noquarterusa.net/blog/?p=9533#comment-1102243 thanks LD for another great article... Major retailers heading to DC for their own bailout....What's next Casinos in Vegas? thanks LD for another great article…
Major retailers heading to DC for their own bailout….What’s next Casinos in Vegas?

]]> By: LD http://www.noquarterusa.net/blog/2008/12/29/wheres-the-money/#comment-1102241 LD Tue, 30 Dec 2008 16:16:26 +0000 http://www.noquarterusa.net/blog/?p=9533#comment-1102241 Mountainaires....You are correct. This era is truly a defining moment for our country. How we come through it will be very telling. I am glad that you enjoy my work. I enjoy the forum and the ability to share my opinions. I don't have all the answers by any means but I am glad to develop the dialogue. Hopefully our following will grow. You indicate that your spouse is involved in finance. I would be interested in what he thinks of my work as well. Thanks again for your support!! Mountainaires….You are correct. This era is truly a defining moment for our country. How we come through it will be very telling.

I am glad that you enjoy my work. I enjoy the forum and the ability to share my opinions. I don’t have all the answers by any means but I am glad to develop the dialogue. Hopefully our following will grow.
You indicate that your spouse is involved in finance. I would be interested in what he thinks of my work as well.

Thanks again for your support!!

]]> By: mountainaires http://www.noquarterusa.net/blog/2008/12/29/wheres-the-money/#comment-1102237 mountainaires Tue, 30 Dec 2008 16:12:42 +0000 http://www.noquarterusa.net/blog/?p=9533#comment-1102237 $150 Billion dollars to AIG...and...this will definitely make your head explode: http://www.ritholtz.com/blog/2008/12/aig-free-money/ $150 Billion dollars to AIG…and…this will definitely make your head explode:

http://www.ritholtz.com/blog/2008/12/aig-free-money/

]]> By: mountainaires http://www.noquarterusa.net/blog/2008/12/29/wheres-the-money/#comment-1102224 mountainaires Tue, 30 Dec 2008 15:53:18 +0000 http://www.noquarterusa.net/blog/?p=9533#comment-1102224 LD, thanks so much. I'm really glad you're contributing here at No Quarter. This entire economic meltdown IS--to steal a phrase--a "defining moment," and I'm completely focused on it, and learning so much. I was never really interested in economics [my beloved spouse is a finance guy, who had Greenspan pegged all along]. I started reading economic bloggers in 2004--people like Roubini-- and, because of that, we protected ourselves well for what is happening now. Unfortunately, I've watched friends and family who were complacent suffer the fallout. And, watching the Cramer and Barnicle tape makes my head explode, too. It's so outrageous... LD, thanks so much. I’m really glad you’re contributing here at No Quarter. This entire economic meltdown IS–to steal a phrase–a “defining moment,” and I’m completely focused on it, and learning so much. I was never really interested in economics [my beloved spouse is a finance guy, who had Greenspan pegged all along]. I started reading economic bloggers in 2004–people like Roubini– and, because of that, we protected ourselves well for what is happening now. Unfortunately, I’ve watched friends and family who were complacent suffer the fallout. And, watching the Cramer and Barnicle tape makes my head explode, too. It’s so outrageous…

]]> By: LD http://www.noquarterusa.net/blog/2008/12/29/wheres-the-money/#comment-1102170 LD Tue, 30 Dec 2008 11:50:20 +0000 http://www.noquarterusa.net/blog/?p=9533#comment-1102170 Just.... Very interesting comment about Wells-Wachovia. I have not heard any of that and given how hard Wells fought to get Wachovia away from Citi, I would be stunned if that were the case. The FDIC was heavily involved in that process. In regard to the brokerage accounts, I would strongly encourage your friend to check because brokerage accounts should be separately help at the bank. He is not a creditor of Wachovia. Call the branch manager. I am not sure how a "quantitative brokerage account" differs from a regular brokerage account. Can you share any color on that? Just….

Very interesting comment about Wells-Wachovia. I have not heard any of that and given how hard Wells fought to get Wachovia away from Citi, I would be stunned if that were the case. The FDIC was heavily involved in that process.

In regard to the brokerage accounts, I would strongly encourage your friend to check because brokerage accounts should be separately help at the bank. He is not a creditor of Wachovia. Call the branch manager. I am not sure how a “quantitative brokerage account” differs from a regular brokerage account. Can you share any color on that?

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