Early in January I wrote that “My Back Pages” was “Going Radical in 2009″. The blog had become too disjointed with link dumps, charts and tangents that I wanted to refocus it on bigger ideas.
I haven’t been totally successful putting this intention into practice so far but I think I’ve found some help. I’ve been using a few other services lately that are perfect for link dumps, chart and tangents.
First on the list is Twitter. I’ve been using it for a while now and I’ve written about it before. It’s also getting a boatload of press lately. Twitter is a very good outlet, in fact the best I’ve found, for posting links to spark discussions on various topics I’m not eager to write a full blog post about. Join the discussion on Twitter @jessefelder
The second service I’ve found useful recently is Posterous. I’ve only been using it for a couple of weeks now but it’s ideal for posting charts, photos and the editorial cartoons I love so much. My Posterous Blog can be found here: jessefelder’s posterous
Finally, Chi.mp could be the next big thing in the world of social media. It basically works as an aggregator of social media services to create what I call the “poor man’s home page.” Check out http://jessefelder.mp to see my Chi.mp profile.
Early in January I wrote that “My Back Pages” was “Going Radical in 2009″. The blog had become too disjointed with link dumps, charts and tangents that I wanted to refocus it on bigger ideas.
I haven’t been totally successful putting this intention into practice so far but I think I’ve found some help. I’ve been using a few other services lately that are perfect for link dumps, chart and tangents.
First on the list is Twitter. I’ve been using it for a while now and I’ve written about it before. It’s also getting a boatload of press lately. Twitter is a very good outlet, in fact the best I’ve found, for posting links to spark discussions on various topics I’m not eager to write a full blog post about. Join the discussion on Twitter @jessefelder
The second service I’ve found useful recently is Posterous. I’ve only been using it for a couple of weeks now but it’s ideal for posting charts, photos and the editorial cartoons I love so much. My Posterous Blog can be found here: jessefelder’s posterous
Finally, Chi.mp could be the next big thing in the world of social media. It basically works as an aggregator of social media services to create what I call the “poor man’s home page.” Check out http://jessefelder.mp to see my Chi.mp profile.
The chart above is an updated version of the one I posted a couple of months ago under the title, “Fat Bottom Banks?” The banks rallied after that earlier post but not to the degree I anticipated they might.
Over the past week or so, however, the banks have rallied roughly 70% off their lows and have now clearly broken the downward channel on the chart. Amazingly enough, they are still 40% below the 200-day moving average.
The easy trade, the reversion trade, is now pretty much over, however (as we got the 50% move and then some). Still, the path they take from here will tell us much about the strength of the stock market’s current rally.
The chart above is an updated version of the one I posted a couple of months ago under the title, “Fat Bottom Banks?” The banks rallied after that earlier post but not to the degree I anticipated they might.
Over the past week or so, however, the banks have rallied roughly 70% off their lows and have now clearly broken the downward channel on the chart. Amazingly enough, they are still 40% below the 200-day moving average.
The easy trade, the reversion trade, is now pretty much over, however (as we got the 50% move and then some). Still, the path they take from here will tell us much about the strength of the stock market’s current rally.
Economist Nouriel Roubini, aka “Dr. Doom,” has become a full-blown celebrity since the financial crisis began over a year ago. His uber-bearish predictions have been borne out and then some causing the financial media to elevate him nearly to cult status.
Not only is Dr. Doom basking in the limelight, he’s celebrating his success by partying like a rock star. Portfolio.com reports:
Bad times have certainly been good for Roubini’s social life. For years, he has been a manic host of everything from small dinner parties to big bashes. The soirees are more crowded of late, attracting everyone from members of the hedge-fund set to a former Miss Ukraine and propelling the bachelor economist onto the tabloid gossip pages. (He has become a New York Post regular, and CNBC often plays disco music when he appears on the air.)
It seems to me that the case of Roubini’s celebrity is exactly the inverse of CNBC making celebrity bulls out of the likes of Mary Meeker, Abby Joseph Cohen and Joe Battipaglia late in the tech bubble. They have since been shamed back into obscurity.
So how long with the “cult of Roubini” last? Dr. Doom, obviously, isn’t waiting to find out. He’s going to make the most of his 15 minutes and who can blame him?
Economist Nouriel Roubini, aka “Dr. Doom,” has become a full-blown celebrity since the financial crisis began over a year ago. His uber-bearish predictions have been borne out and then some causing the financial media to elevate him nearly to cult status.
Not only is Dr. Doom basking in the limelight, he’s celebrating his success by partying like a rock star. Portfolio.com reports:
Bad times have certainly been good for Roubini’s social life. For years, he has been a manic host of everything from small dinner parties to big bashes. The soirees are more crowded of late, attracting everyone from members of the hedge-fund set to a former Miss Ukraine and propelling the bachelor economist onto the tabloid gossip pages. (He has become a New York Post regular, and CNBC often plays disco music when he appears on the air.)
It seems to me that the case of Roubini’s celebrity is exactly the inverse of CNBC making celebrity bulls out of the likes of Mary Meeker, Abby Joseph Cohen and Joe Battipaglia late in the tech bubble. They have since been shamed back into obscurity.
So how long with the “cult of Roubini” last? Dr. Doom, obviously, isn’t waiting to find out. He’s going to make the most of his 15 minutes and who can blame him?
It was just about twelve years ago that I began my career in the investment industry at Bear, Stearns & Co., Inc. At the time, Bear was a behemoth in the industry, doing more business on the New York Stock Exchange than any other firm in the world. As a kid fresh out of college aspiring to an investment career, I was in awe and felt very fortunate for the opportunity to be a part of such a prominent Wall Street icon.
During my short tenure at Bear (I stayed less than a full year) I was fortunate enough to make a trip back east to the company’s headquarters in New York. I saw the company’s main trading desk where the now-former chairman and Wall Street legend, Alan “Ace” Greenberg, still works today (as part of JP Morgan). I took a tour of the New York Stock Exchange with one of Bear’s top floor traders and witnessed the business of Wall Street first-hand. All in all, my experience at Bear was a great introduction to the industry.
Obviously, back then I never would have dreamed that Bear would eventually be wiped out, seemingly overnight, by what essentially amounted to a run on the bank. Above is a copy of the first trading ticket I ran at Bear (sell 50 shares of MRK at the market). I keep it because it reminds me of the feelings of opportunity and excitement that inspired me to pursue an investment career in the first place. And I won’t forget them.
It was just about twelve years ago that I began my career in the investment industry at Bear, Stearns & Co., Inc. At the time, Bear was a behemoth in the industry, doing more business on the New York Stock Exchange than any other firm in the world. As a kid fresh out of college aspiring to an investment career, I was in awe and felt very fortunate for the opportunity to be a part of such a prominent Wall Street icon.
During my short tenure at Bear (I stayed less than a full year) I was fortunate enough to make a trip back east to the company’s headquarters in New York. I saw the company’s main trading desk where the now-former chairman and Wall Street legend, Alan “Ace” Greenberg, still works today (as part of JP Morgan). I took a tour of the New York Stock Exchange with one of Bear’s top floor traders and witnessed the business of Wall Street first-hand. All in all, my experience at Bear was a great introduction to the industry.
Obviously, back then I never would have dreamed that Bear would eventually be wiped out, seemingly overnight, by what essentially amounted to a run on the bank. Above is a copy of the first trading ticket I ran at Bear (sell 50 shares of MRK at the market). I keep it because it reminds me of the feelings of opportunity and excitement that inspired me to pursue an investment career in the first place. And I won’t forget them.
Bio: Jesse Felder founded Felder & Company in 2000 as an independent investment advisor. Jesse oversees both the company's proprietary investment research and managed investment accounts. He is also the editor of the company's monthly newsletter "The Felder Report."
First on the list is Twitter. I’ve been using it for a while now and I’ve written about it before. It’s also getting a boatload of press lately. Twitter is a very good outlet, in fact the best I’ve found, for posting links to spark discussions on various topics I’m not eager to write a full blog post about. Join the discussion on Twitter @jessefelder
The second service I’ve found useful recently is Posterous. I’ve only been using it for a couple of weeks now but it’s ideal for posting charts, photos and the editorial cartoons I love so much. My Posterous Blog can be found here: jessefelder’s posterous
Finally, Chi.mp could be the next big thing in the world of social media. It basically works as an aggregator of social media services to create what I call the “poor man’s home page.” Check out http://jessefelder.mp to see my Chi.mp profile.
