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Reading: Refis, Volcker, Economists, etc.
Paul Kedrosky's Infectious Greed —
... current crisis. And why a few did. (FT) Dividend cuts fastest since 1950s in U.S. (Bloomberg) Fed risks spitting in wind with new bailout package (Bloomberg) There is no financial services sector. What do we do now? (FT) Volcker tapped for Obama economic advisory role (WSJ) Fed aid sets off a rush to refinance (WSJ) Why fairly valued stock markets are an opportunity (FT)
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Pink Picks
FT Alphaville —
... The danger is of a debt trap – a vicious circle in which the debt/GDP ratio explodes as rising debt interest causes ever widening budget deficits. Martin Wolf: “Buy!” The good news is that, after an extended period of overvaluation, stock markets are, at last, attractively priced. ...
The vision thing
FT Alphaville —
... . Writes the FT’s chief economics commentator Martin Wolf today: The good news is that, after an extended period of overvaluation, stock markets are, at last, attractively priced. This should have enticing implications for investors and even for audacious governments. Is it worth being more circumspect? Looking historically, perhaps yes. We are told this crisis is unprecedented in scale and veracity. Comparisons are drawn between the depression and Japan’s lost decade. The outcome may well be much better than in both of those dramatic, bearish scenarios, but there’s a good ...
Wednesday links: day traders are back
Abnormal Returns —
... Abnormal Returns will be taking the rest of the Thanksgiving week off. We trust you have a pleasant holiday. See you next week.
Don’t count on today’s dividends to support stock prices. (naked capitalism)
The opportunity in ‘fairly priced’ markets. (FT.com)
James Montier is really bullish. (Bloomberg.com)
Equity market volatility is now old hat. (Market ...
The stock market could be offering a fine opportunity to the kids
Newmark's Door —
... Now, even more so than normally. Martin Wolf of the Financial Times makes the bullish case (11/25). ...
