Silver as an investment

Category Archives: Economy of New York City

The Lost Goldman Sachs 1985 Fixed Income Recruiting Video

Authord by Sarah Butcher via eFinancialCareers.com, In 1985, Goldman Sachs was still a partnership. The current partners owned around 80% of the firm, retired partners held the remainder. Lloyd Blankfein was a 31 year-old trader at J. Aron, the commodities house Goldman had purchased four years earlier. Run by John Weinberg, a former M&A banker, […]

Frontrunning: June 20

Central bank caution beefs up stock gains (Reuters) Pound Drops as BOE’s Carney Says Not Yet Time to Raise Rates (BBG) Oil Just Hit Its Lowest Level of the Year (BBG) Britain charges Barclays, ex-bosses over ‘unlawful’ Qatari deal (Reuters) Senate GOP Sets Ambitious Deadline on Health-Care Vote (WSJ) Both Parties Have a Lot to […]

Venezuela’s ‘Goldman Bounce’ In Reserves Is Gone

The boost in foreign reserves Venezuela enjoyed after Goldman Sachs investment arm picked up $2.8 billion of bonds from the state oil company is almost gone. "We're gonna need another boost…" – time for some more Goldman 'swaps'? As Bloomberg notes, the country’s cash hoard has fallen $326 million this week to $10.2 billion, near the 15-year […]

SocGen: “This Is What Happens When The Algos All Head For The Exit At The Same Time”

After Goldman, JPM and even Dennis Gartman all opined on Friday’s “tech wreck”, in which the Nasdaq tumbled 2% as the Dow Jones hit new all time highs (the only previous time it has done that was in 1999 just as the tech bubble was ramping up), and when the Philly semiconductor index fell 4.2%, […]

Tech-Wreck Continues – FANG Stocks Tumble Below Friday Flash-Crash Lows

It's not over… Felix Zulauf (via Barron's round table) Do you have any specific investment picks for the second half?   I don’t. Investors should tighten risk-management strategies to their portfolios. I expect the FANG stocks and the Nasdaq to have a big selloff. They could easily fall 30% or 40%. But I don’t want […]

The Risk To The “Bull” Thesis

Authored by Lance Roberts via RealInvestmentAdvice.com, Following the election, the markets began pricing in a strongly recovering economic environment driven by a wave of legislative policies. While the market has indeed advanced, the economic and fundamental realities HAVE NOT changed since the election. As noted on Friday: “Economic data is not buying it either. Headline after […]

Of Bunkers, Bankers, & Black Swans

Authored by Howard Kunstler via Kunstler.com, And suddenly the storms of early Trumptopia subside, or seem to. The surface of things turns eerily placid as the sweets of May sweep away the toils of an elongated mud season. Somebody stuffed Kim Jong Un back in his bunker with a carton of Kools and the Vin […]

“Amber Warning Sign” Issued For EURUSD Bulls

While Draghi’s conference was supposed to be relatively boring, it was anything but, with the EUR first sliding on the statement’s suggestion that more QE is possible, then spiking on upbeat economic comments, then sliding again after Draghi talked down the inflationary outlook but most importantly, when the ECB president said that the ECB did […]

NYSE Red Alert: Equities Trading Currently Unavailable

Shortly after the day-session closed, NYSE Arca reported a complete cessation of trading… Has anyone seen Vladimir Putin today? Source: NYSE

Manhattan Luxury Housing In Freefall: J.Crew CEO Slashes Tribeca Loft Price By Over 40%

While in recent weeks we have documented various instances of sharp pullbacks in the ultra-luxury segment of New York’s housing market (here, here and here), a dramatic example of just how sharp the drop in the high-end housing segment has been comes courtesy of Mansion Global which reports that J. Crew CEO Mickey Drexler has […]