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Archive for the ‘Phil’s Favorites’ Category

Idiot’s Guide to Austrian Economics

Courtesy of Mish.

Congratulations go to Forbes columnist John Tamny and editor of Real Clear Markets for producing the “Idiot’s Guide to Austrian Economics‘.

Ironically, that is not exactly what Tamny set out to do. The actual title of Tamny’s article is “The Closing Of The Austrian School’s Economic Mind“.

Point by Point Look

Tamny: “It’s well known that some Austrians have a major problem with ‘fractional reserve banking’ whereby banks pay for liabilities (deposits) by virtue of turning those liabilities into assets (interest paying loans). Instead, they borrow money from depositors seeking a return on their savings, and who don’t need access to their savings right away, only to lend the money borrowed to individuals who do need it right away. The profits come from borrowing at one rate of interest, then lending longer term at a higher rate.”

Mish: With that single paragraph Tamny proves he does not understand AE or fractional reserve lending. In fact, he makes it clear he is clueless as to where the money banks lend even come from. AE has no beef against lending. Rather, AE does object to money being created out of thin air for lending.

I don’t care, nor does AE care if 100% of deposits are lent out, as long as three conditions are met: 1) Money is not created into existence by the loan 2) Money is not lent out for terms longer than the bank has access to the money 3) Depositors who lend money to the banks for interest are the ones who pay the price should there be a default on the loans.

In regards to point number three, it should be implicitly understood that the higher the interest banks pay for deposits, the greater the risk the banks (and depositors) must take to achieve that return. If it blows up, depositors, not innocent bystanders should pay the price.

Tamny: “Banks aren’t in business, nor could they remain in business if they simply warehoused money.”

Mish: Is there a need for warehousing? Even if the answer is no (which it isn’t), Tamny clearly fails to understand AE does not preclude lending. AE only precludes fraudulent lending.

Tamny: To many Austrians, this non-coerced act of exchange between consenting individuals is a fraud, and needs to be treated as such


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Ukraine Overnight Interest Rates Soars to 17.5%; External Debt Cannot Be Paid Back; Ukraine Demands Rebels Surrender

Courtesy of Mish.

It’s crystal clear Ukraine has no interest in a ceasefire under any terms. Instead it demands rebels lay down weapons and for Russia to stop intervention. In short, Ukraine demands surrender.

Thus death and destruction will continue, possibly long after Ukraine takes over Luhansk and Donetsk (or rather what’s left of Luhansk and Donetsk).

Please consider Ukraine Says It Makes Gains Against Rebels in Luhansk.

The Ukrainian government said its forces took control of one of four districts in the pro-Russian separatist stronghold of Luhansk and are fighting in the city center as diplomatic efforts to end the conflict intensified.

European leaders are pushing to halt the conflict that’s killed more than 2,000 people and fractured Ukraine since Russia annexed Crimea in March.

“Ukraine’s armed forces have been beating the separatists for weeks now and are moving deeper into the east,” Karl-Heinz Kamp, academic director at the German government’s Federal Academy for Security Policy in Berlin, said by phone. “Something must have happened that’s boosting their fighting skills. My gut feeling — and I don’t have any concrete evidence — is that the Ukrainian forces are getting support from the outside.”

Ukraine’s government says it will declare a truce only if the pro-Russian rebels lay down their arms and Russia stops supplying them with weapons. Russian Foreign Minister Sergei Lavrov, meeting with his Ukrainian, French and German counterparts in Berlin, repeated calls yesterday for an unconditional cease-fire. Russia denies it’s aiding the rebels.

Ukraine Rates

The conflict has cost Ukraine $8 billion, Prime Minister Arseniy Yatsenyuk was quoted as saying today by the Unian newswire. Ukraine’s central bank raised its overnight refinancing rate to 17.5 percent today from 15 percent as it seeks to support the hryvnia. The Ukrainian currency fell as much as 1.6 percent before trading little changed at to 13.03 per dollar, taking its decline for the month to 5.8 percent.

Hryvnia vs. US Dollar

From mid-2007 the hryvnia crashed from 4.50 to the US dollar to 13.03 to the US dollar. That is a decline of 65%.

Given that Ukraine’s external debt is not priced in hryvnia, but rather euros or US dollars, this currency decline really hurts….



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When Headline Scanning Algos Get Crushed By A Wrong Bloomberg Headline

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

At 1033ET, Bloomberg headlines flashed: "WHOLE MILK POWDER PRICES FALL 11.5% IN GDT AUCTION" which caused an instant collapse in Kiwi (NZDUSD) as headline-reading algos reacted. However, as "humans" knew and @FXMacro reminded Bloomberg, that was last month's drop…

When Bloomberg reissued: "CORRECT: WHOLE MILK POWDER PRICES RISE 3.4% IN GDT AUCTION" Kiwi surged higher. These are your efficient markets…

 

 

1033ET Bloomberg: WHOLE MILK POWDER PRICES FALL 11.5% IN GDT AUCTION

1035ET @FXMacro warns BB has it wrong be careful

1036ET @FXMacro warns BB is reporting last month's fall

1038ET Bloomberg: CORRECT: WHOLE MILK POWDER PRICES RISE 3.4% IN GDT AUCTION

*  *  *

Welcome to the new efficient liquidity-providing markets…





Senator Elizabeth Warren Versus Paul Krugman on Too Big to Fail

Courtesy of Pam Martens.

Senator Elizabeth Warren Questioning Janet Yellen During Senate Hearing on July 15, 2014

Senator Elizabeth Warren Questioning Janet Yellen During Senate Hearing on July 15, 2014

Two weeks ago, Paul Krugman used some expensive media real estate to write a propaganda piece on the unsupportable proposition that the Dodd-Frank financial reform legislation passed in 2010 is “a success story” and that its bank wind-down program known as Ordinary Liquidation Authority has put an end to “bailing out the bankers.”

Wall Street On Parade took Krugman to task over this fanciful ode to accomplishments by the President the day after his piece ran in the New York Times’ opinion pages and suggested he do proper research on this subject before opining in the future. That was the morning of August 5.

By late in the afternoon of August 5, Krugman had a reality smack-down on his Dodd-Frank success fairy tale by two Federal regulators. Every major media outlet was running with the news that eleven of the biggest banks in the country, including the mega Wall Street banks, had just had their wind-down plans (known as living wills) rejected by the Federal Reserve and FDIC for not being credible or rational. The eleven banks are: Bank of America, Bank of New York Mellon, Barclays, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, JPMorgan Chase, Morgan Stanley, State Street and UBS.

New York Times Columnist, Paul Krugman

New York Times Columnist, Paul Krugman

Yesterday, Krugman’s Dodd-Frank fantasy lost further credibility when Senator Elizabeth Warren released a letter that she and eleven of her Congressional colleagues had sent to the Federal Reserve, warning that one of its Dodd-Frank proposed rules “invites the same sort of backdoor bailout we witnessed five years ago.”



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Standard Chartered Money Laundering: Wash, Rinse, Repeat

Courtesy of Larry Doyle.

When a penalty does not fit the crime it should come as no surprise that the activity in question is likely to perpetuate.

We would seem to see evidence of this reality in the ongoing “wash, rinse, repeat” cycle of money laundering activities at the laundromat heretofore known as Standard Chartered Bank.

The Financial Times peers inside this washing machine this morning to reveal the following dirty laundry:

Standard Chartered is in talks to pay up to $300m to New York’s top banking regulator to settle allegations it failed to identify suspicious transactions, despite promising to improve its procedures after it was fined for violating sanctions rules two years ago.

New York’s Department of Financial Services could announce the settlement as soon as this week, people familiar with the matter said. StanChart is also likely to agree to additional disciplinary measures, such as extending the contract of an independent monitor charged with identifying dubious transactions.

Does it strike you as odd that this independent monitor would have his contract extended? With this news it begs the question as to how effective the monitor has been to date. Perhaps a new monitor might be in order along with a “throw the bums” out cleansing of selected executives at the bank as well.

The current investigation is a follow-up to the bank’s 2012 settlement with the US authorities including the DFS, which alleged StanChart violated US sanctions laws that prohibited transactions with Sudan, Iran, Libya and Myanmar.

The penalty of up to $300m is steep for a follow-on settlement and comes close to the original DFS fine in 2012, reflecting Mr Lawsky’s position that banks that sign up to certain terms in a settlement need to abide by them.

StanChart has had a rocky history with US authorities since the 2012 sanctions settlement. Sir John irked regulators when he dismissed the bank’s actions as “clerical errors” rather than a “wilful” intention to break the rules, even though the group had accepted responsibility for breaching sanctions.

His comments earned Sir John, Mr Sands and then finance director Richard Meddings a summons to Washington, where all three were personally reprimanded by US authorities. Sir John was forced to apologise to investors and the bank’s staff, and admitted his remarks had been “both legally and factually incorrect”.

Reprimanded? Really?

What a joke.…
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“Millennials Don’t Care About Money”

“Millennials Don’t Care About Money”

Courtesy of 

The New York Times is out with its latest catch-all piece on how strange and different the millennial mindset is from the rest of the nation.

I straddle the fence between Gen X and the millennials; born in ’77, I have way more in common with the millennials than with the “slackers” and Gen Xers who were born in the early 1960′s and think Caddyshack is the pinnacle of comedy. From my vantage point, I can tell you that some of the insights shared in the piece are spot-on while others confuse a difference in ages for a difference in attitudes.

Take this howler, which you’ve probably seen repeated elsewhere in some version or another:

Consider the approach many take to the workplace. Thanks to the 2008 economic crash, millennials know how fleeting wealth can be. Their solution? For many, it is to acquire not more, but less.

“Almost two-thirds (64 percent) of millennials said they would rather make $40,000 a year at a job they love than $100,000 a year at a job they think is boring,” the Brookings Institution recently noted in a report by Morley Winograd and Michael Hais titled “How Millennials Could Upend Wall Street and Corporate America.”

This is clever but misleading. Those “almost two-thirds” of millennials also don’t have children of their own yet, nor do they have mortgages in most cases. In general, they are in their twenties and responsible to no one but themselves – for the moment. Call me when that changes and tell me if they’re any different from any other generation before them, in the aggregate.

They won’t be.

And once this generation hits its mid-30′s, we’ll finally see the all-important household formation process kick into high gear – perhaps the only thing that will truly rescue the economy from lullsville, the one ingredient that’s been missing so far.

I think this will happen, despite all the zeitgeist articles about how millennials don’t give a shit about money and just want to be able to pogo-stick their way to the…
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Thirty Second Course on Asset Allocation

Thirty Second Course on Asset Allocation

Courtesy of 
 
If I only had thirty seconds to teach a young person about asset allocation, I probably wouldn’t bother with anything written. I’d also dispense with any sort of formula, equation or model.

Instead, I’d come armed with just one chart and force my erstwhile pupil to spend the entire half-minute staring at it.

That chart is below, a gem from Professor Jeremy Siegel (via Vox):

stocks bonds

In the above table, originally pulled from Siegel’s epic Stocks for the Long Run (now in its fifth edition), we see that stocks have beaten Treasury bonds and T-Bills (a cash equivalent) in almost 100 percent of all thirty-year periods. Phrased another way, only during less than one percent of all thirty-year periods for more than two centuries did it make sense to stay out of the stock market with a retirement portfolio. 

Now of course, there are caveats – the first is, nobody lives for two hundred years. This is true, which is why the gains of the stock market from the entire period are not important ($1 turned into $704,000, in case you were wondering).

The second caveat is that, prior to the 1970′s and the advent of the index fund at Wells Fargo, nobody could have done anything quite so simple as buy the stock market passively. As such, these historical returns would have been unattainable, even if the numbers themselves are reality as represented by the indexes.

But to those caveats, the reasonable person says “So what?  Just because I’m not going to live for centuries or because my grandparents could not have owned an index fund, what does that have to do with my own future and the next thirty years?”

Thirty seconds doesn’t offer us a lot of time for nuance and there are certainly other issues that should be brought to the fore in a discussion about portfolio management and risk. But if that were all I had, this chart would be all I’d need to make the most important point a younger investor needs to be armed with, the earlier the better.

Source:

Only 24% of the US knows where to put their money (Vox)

Check out the book or gift it to the new investor in your family or office:

Stocks for the Long Run – Fifth Edition (Amazon)





Recovery Mirage in Spain Dissipates Into Ashes

Courtesy of Mish.

The mirage in Spain pretending to be a recovery, has officially dissipated into wind-blown ashes.

Spain’s trade deficit doubled in the first half as imports soared. Spain is again dependent on foreign financing.

Via translation from Libre Mercado, Spain Again Borrows Abroad to Finance Consumption.

One of the main and genuine green shoots making the Spanish economy begins to show the first worrying signs of weakness. It is the foreign sector, one of the few economic engines of the country in recent years. And not because of the export slowdown , as the significant increase in imports.

Spain recorded a trade deficit of 11.882 billion euros in the first half of the year, almost double a year ago now, when this same gap stood at 5.824 billion.

According to the Economy Ministry report released Monday, exports slowed their growth, after rising just 0.5% yoy. Imports, meanwhile, rose 5.3%.

“Spain is still in debt,” says economist Juan Ramón Rallo. “That 6 million unemployed can only increase imports, not domestic production illustrates our problems,” he warns.

In the same vein, economist Javier Santacruz adds that the most worrying of these data is that we are not competitive (exports stagnate), but “imports soar to finance domestic consumption,” as shown by the increase internaual foreign car purchase (+ 17.6%) and non-durable consumer goods (+ 19.1%).

In fact, overall imports do not even account for energy products, which fell by 4.1%.

Spain has been living on borrowed time for years, accumulating a huge debt to maintain their level of consumption and investment-their standards of living. Between 2002 and 2007, Spain was amassing a growing external deficit, as more and sell less abroad (exports) and bought more (imports), bringing its foreign debt grew.

This imbalance is reflected in a very specific indicator, the current account deficit, which in 2007 reached a record high close to 10% of GDP. That is, the entire country that year said external financing close to 100 billion euros to cover their consumption and investment.

The fact that the trade deficit has risen again after the minimum economic rebound in recent quarters is a sign of weakness, because it demonstrates the strong dependence Spain still external financing to maintain their level of consumption and investment.

Think Spain is going to meet its budget deficit goals for 2014? If so, think again….



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Market Roulette: Dimes On Black, Dynamite On Red

Courtesy of John Hussman via his Weekly Market Comment (via Zero Hedge)

?The stock market is presently a roulette wheel with dimes on black and dynamite on red. We continue to have extreme concerns about the extent of potential market losses over the completion of the present market cycle. At the same time, we have very little view with regard to short-term market action. If one reviews market action surrounding major pre-crash peaks such as 1929, 1972, 1987, 2000 and 2007, you’ll observe a sort of “resilience” in the major indices on a day-to-day and week-to-week basis even after market internals had already corroded. In 1987, for example, the break following the August bull market peak was largely recovered over the course of several weeks before failing rapidly in October. In 2000, the market actually experienced a series of 10-12% corrections and recoveries before a final high in September that was followed by a loss of half the market’s value. In 2007, the initial break in mid-summer was fully recovered, with the market registering a fresh nominal high in early October that marked the end of the bull market and the start of a 55% market collapse.

As economic historian J.K. Galbraith wrote about the advance leading up to the 1929 crash, the market’s gains

“had an aspect of great reliability… Indeed the temporary breaks in the market which preceded the crash were a serious trial for those who had declined fantasy. Early in 1928, in June, in December, and in February and March of 1929 it seemed that the end had come. On various of these occasions the Times happily reported the return to reality. And then the market took flight again. Only a durable sense of doom could survive such discouragement. The time was coming when the optimists would reap a rich harvest of discredit. But it has long since been forgotten that for many months those who resisted reassurance were similarly, if less permanently, discredited.”

None of this implies that the market will or must collapse in short order. Stocks remain strenuously overvalued, overbought, and overbullish, but those conditions have persisted uncorrected much longer in the present instance than they have historically. That doesn’t encourage us to abandon our concerns, but it does make us less aggressive about investment stances that rely on…
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Robot Successfully Hitchhikes Across Entire Length of Canada, Now On Way Back

Courtesy of Mish.

Meet hitchBOT, a robot from Port Credit, Ontario.

HitchBOT Help explains Everything you always wanted to know about hitchBOT, but were afraid to ask.

HitchBot successfully hitchhiked from Halifax, Nova Scotia to Victoria, British Columbia, a distance of about 4,000 miles. HitchBOT is now on a return trip.

CNN reports …

The gender-neutral robot was conceived by university researchers David Harris Smith and Frauke Zeller, who view its quest as part performance art, part social experiment.

“People seem to be rather intrigued with hitchBOT, and take very good care (of it),” said Smith, a communications and multimedia professor at McMaster University in Hamilton, Ontario, and Zeller, a communications professor at Ryerson University in Toronto, in a statement e-mailed to CNN.

“We have even seen hitchBOT lying in a camping bed under a blanket, and sitting on a toilet,” they said, “so people certainly have fun with it.”

hitchBOT has a bucket for a torso, blue swimming-pool noodles for arms and legs and a smiling LED panel for a face, protected by a cake saver. It wears yellow gloves on its hands, and wellies — rubber boots — on its feet. Inside is a simple tablet PC and some components from Arduino, the open-source electronics platform. Together, all the parts cost about $1,000.

“We wanted to see what we can build on a shoestring budget … and with tools/components that one can get in any hardware store,” Smith and Zeller said.

Thanks to its computerized innards and speech software, hitchBOT can answer basic questions, make small talk and recite info from Wikipedia. It can also get pretty chatty, not always something you want in a road-trip companion.

“We knew that sometimes … hitchBOT won’t be able to properly understand what people are saying. For these cases, we came up with the solution to let hitchBOT simply chatter away,” its creators said. “We taught hitchBOT to say that sometimes it gets a bit carried away, and that its programmers could only write that many scripts, hoping for people to be patient.”…



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Help One Of Our Own PSW Members

"Hello PSW Members –

This is a non-trading topic, but I wanted to post it during trading hours so as many eyes can see it as possible.  Feel free to contact me directly at jennifersurovy@yahoo.com with any questions.

Last fall there was some discussion on the PSW board regarding setting up a YouCaring donation page for a PSW member, Shadowfax. Since then, we have been looking into ways to help get him additional medical services and to pay down his medical debts.  After following those leads, we are ready to move ahead with the YouCaring site. (Link is posted below.)  Any help you can give will be greatly appreciated; not only to help aid in his medical bill debt, but to also show what a great community this group is.

http://www.youcaring.com/medical-fundraiser/help-get-shadowfax-out-from-the-darkness-of-medical-bills-/126743"

Thank you for you time!

 
 

Zero Hedge

Pulitzer Prize Winner: Obama Is "The Greatest Enemy Of Press Freedom In A Generation"

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Submitted by Mike Krieger of Liberty Blitzkrieg blog,

James Risen is not just a phenomenal reporter, he is also an extremely courageous and honorable American patriot. His case is a very disturbing one, and it has justifiably received a great deal of national attention. In a nutshell, the Obama Administration is threatening the pulitzer prize winning journalist with prison unless he reveals the source behind one of his stories. This is something no journalist worth his salt would ever do, but the fact our own government would reso...



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Chart School

Why the Big Mac's Rising Prices Are More Alarming Than Its Fat Content

Courtesy of Doug Short.

Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives.

Note: I’ve updated my periodic look at the Consumer Price Index (CPI) versus the Big Mac Index to coincide with The Economist’s bi-annual update of the Big Mac Index used for currency values and the most recent CPI for August 2014.

What are we to believe? The change in the price of the Big Mac says one thing while the Bureau of Labor Statistics is telling us another.

On Tuesday, August 19, the Consumer Price Index (CPI) was released by the Bureau of Labor Statistics, stating that “Over the last 12 months, all the items in the index increased 2.0 percent before seasonal adjustment.”

The rise in the pri...



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Phil's Favorites

Idiot's Guide to Austrian Economics

Courtesy of Mish.

Congratulations go to Forbes columnist John Tamny and editor of Real Clear Markets for producing the "Idiot's Guide to Austrian Economics'.

Ironically, that is not exactly what Tamny set out to do. The actual title of Tamny's article is "The Closing Of The Austrian School's Economic Mind".

Point by Point Look

Tamny: "It’s well known that some Austrians have a major problem with 'fractional reserve banking' whereby banks pay for liabilities (deposits) by virtue of turning those liabilities into assets (interest paying loans). Instead, they borrow money from depositors seeking a return on their savings, and who don’t need access to their savings right away, only to lend the mone...



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Option Review

Elizabeth Arden Put Option Activity Revisited

It’s an ugly day for investors in Elizabeth Arden, with shares in the name losing roughly one-quarter of its value overnight after the retailer of beauty products and fragrances reported a wider than expected loss and sales that were lower than analysts anticipated. Shares in the name are down more than 23% in the final hour of trading to stand at $14.95.

On Friday of last week we wrote a short note about put option activity on the stock...



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All About Trends

Mid-Day Update

Reminder: David is available to chat with Members, comments are found below each post.

Click here for the full report.




To learn more, sign up for David's free newsletter and receive the free report from All About Trends - "How To Outperform 90% Of Wall Street With Just $500 A Week." Tell David PSW sent you. - Ilene...

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Sabrient

Sector Detector: Bullish investors jockey for position as if the correction is over

Courtesy of Sabrient Systems and Gradient Analytics

As many investors enjoy the final weeks of summer, some optimistic bulls seem to be positioning themselves well ahead of Labor Day in anticipation of a fall rally. Indeed, last week’s action was impressive. After only a mere 4% correction, investors continued to brush off the disturbing violence both at home and abroad, and they took the minor pullback as their next buying opportunity. But was that really all the pullback we’re going to get this year? I doubt it. But I also believe that nothing short of a major Black Swan event can send this market into a deep correction.

In this weekly update, I give my view of the current market environment, offer a technical analysis of the S&P 500 chart, review our weekly fundamentals-based SectorCast rankings of the ten U.S. business sectors, and then ...



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OpTrader

Swing trading portfolio - week of August 18th, 2014

Reminder: OpTrader is available to chat with Members, comments are found below each post.

 

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...



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Stock World Weekly

Stock World Weekly

Newsletter writers are available to chat with Members regarding topics presented in SWW, comments are found below each post.

The Stock World Weekly Newsletter is ready to go! View it here: Stock World Weekly. Just put in your user name and password, or take a free trial. 

 

#120692880 / gettyimages.com ...

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Market Shadows

Helen Davis Chaitman Reviews In Bed with Wall Street.

Author Helen Davis Chaitman is a nationally recognized litigator with a diverse trial practice in the areas of lender liability, bankruptcy, bank fraud, RICO, professional malpractice, trusts and estates, and white collar defense. In 1995, Ms. Chaitman was named one of the nation's top ten litigators by the National Law Journal for a jury verdict she obtained in an accountants' malpractice case. Ms. Chaitman is the author of The Law of Lender Liability (Warren, Gorham & Lamont 1990)... Since early 2009, Ms. Chaitman has been an outspoken advocate for investors in Bernard L. Madoff Investment Securities LLC (more here).

Helen Davis Chaitman Reviews In Bed with Wall Street. 

By Helen Davis Chaitman   

I confess: Larry D...



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Digital Currencies

BitLicense Part 1 - Can Poorly Thought Out Regulation Drive the US Economy Back into the Dark Ages?

Courtesy of Reggie Middleton.

An Op-Ed piece penned by Veritaseum Chief Contracts Officer, Matt Bogosian

This past weekend (despite American Airlines' best efforts), Reggie and I made it to the Second Annual North American Bitcoin Conference in Chicago. While there were some very creative (and very ambitious) ideas on how to try to realize the disruptive Bitcoin protocol, one of the predominant topics of discussion was New York Superintendent of Financial Services Benjamin Lawsky's proposed Bitcoin regulations (the BitLicense proposal) - percieved by many participants at the event as an apparent ...



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Pharmboy

Biotechs & Bubbles

Reminder: Pharmboy is available to chat with Members, comments are found below each post.

Well PSW Subscribers....I am still here, barely.  From my last post a few months ago to now, nothing has changed much, but there are a few bargins out there that as investors, should be put on the watch list (again) and if so desired....buy a small amount.

First, the media is on a tear against biotechs/pharma, ripping companies for their drug prices.  Gilead's HepC drug, Sovaldi, is priced at $84K for the 12-week treatment.  Pundits were screaming bloody murder that it was a total rip off, but when one investigates the other drugs out there, and the consequences of not taking Sovaldi vs. another drug combinations, then things become clearer.  For instance, Olysio (JNJ) is about $66,000 for a 12-week treatment, but is approved for fewer types of patients AND...



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Promotions

See Live Demo Of This Google-Like Trade Algorithm

I just wanted to be sure you saw this.  There’s a ‘live’ training webinar this Thursday, March 27th at Noon or 9:00 pm ET.

If GOOGLE, the NSA, and Steve Jobs all got together in a room with the task of building a tremendously accurate trading algorithm… it wouldn’t just be any ordinary system… it’d be the greatest trading algorithm in the world.

Well, I hate to break it to you though… they never got around to building it, but my friends at Market Tamer did.

Follow this link to register for their training webinar where they’ll demonstrate the tested and proven Algorithm powered by the same technological principles that have made GOOGLE the #1 search engine on the planet!

And get this…had you done nothing b...



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About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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About Ilene:

Ilene is editor and affiliate program coordinator for PSW. She manages the site market shadows, archives, more. Contact Ilene to learn about our affiliate and content sharing programs.

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