Posts Tagged ‘Chris Whalen’

Apple, Google, NewsCorp and the Future of Content: Interview with Michael Whalen

Courtesy of rcwhalen - Chris Whalen - writing at Zero Hedge 

Apple, Google, NewsCorp and the Future of Content: Interview with Michael Whalen

The Institutional Risk Analyst

In this issue of The Institutional Risk Analyst, we speak to Michael Whalen, award winning composer and new media observer about the outlook for the business of creating and delivering content.  Since graduating from Berklee College of Music, Michael has taught a business for music class than has saved thousands of young atists from making terrible mistakes with content and other contractual rights.  Think Frank Zappa and Warner Brothers.   And yes, Michael is IRA co-founder Chris Whalen’s younger brother.  

The IRA: So Michael, let’s start with kudos for the call on iTunes years ago. You first gave your brother a heads up about Apple Computer’s (AAPL) move into music via iTunes a decade ago, correct?

Whalen: Thanks. Yes…back in 2000 – 2001, I saw that Apple was getting ready to take a monumental step by shifting its business away from just computers and software towards mobile devices. To see how big a deal this decision was, you have to travel back to that time… When people thought of downloadable music the first thing they thought of was Napster (remember them?) and to the general business community the idea of all entertainment being sold and distributed digitally through a SIMPLE platform was "risky" and truly visionary. The music business was all about CDs (still) and the traditional model of physical product. Interestingly, iPod was not first to market. The digital music players that did exist beforehand were clunky and big. In 2001, concepts such as iTunes and the iPod made it look like Steve Jobs and the management at AAPL were crazy or at least losing "confidence" in their core business. People asked with more than a tone of criticism: "why diversify"? "Has Microsoft (MSFT) beaten you"? Now 10 years later, their gamble looks like genius. It was…

The IRA: Indeed. How do you view the AAPL strategy going forward, especially with the apparent decision to let Droid handset take overall share? Is AAPL still well advised to keep proprietary control over the hardware and not allow third-party produces to make handsets that run the AAPL OS?  Click here ( http://us1.irabankratings.com/mobile/home.asp ) to see IRA’s new digital widget for handsets.

Whalen: I think handicapping the handset/mobile device market…
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WHALEN: BANK RESTRUCTURINGS LIKELY AS FORECLOSURES “OVERWHELM” BIG BANKS

WHALEN: BANK RESTRUCTURINGS LIKELY AS FORECLOSURES “OVERWHELM” BIG BANKS

Courtesy of The Pragmatic Capitalist 

Chris Whalen of Institutional Risk Analytics provided some recent clarity on the foreclosure crisis and its impact on the banking sector.  Whalen believes the foreclosure crisis merely proves that the credit crisis never ended and that the government “bought time” for the banks.  That time is now running out and the banks simply do not have the capital, the earnings or the capability to absorb the losses in the pipeline from the continuing foreclosures.  Ultimately, Whalen believes restructurings are likely to occur in 2011 as the U.S. government is finally forced to deal with the banking sector as it should have in 2009.

For more from Chris Whalen see his recent must see presentation at AEI. 


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Check Out Chris Whalen’s Terrifying Presentation On The 2011 Foreclosure Crisis

Check Out Chris Whalen’s Terrifying Presentation On The 2011 Foreclosure Crisis

Courtesy of Gus Lubin at Business Insider

whalenThe biggest bear in foreclosure-gate is Institutional Risk Analytic’s Chris Whalen.

At a conference Wednesday, Whalen said the foreclosure crisis would make 2008 look like a cakewalk (via Prag Cap):

"The U.S. banking industry is entering a new period of crisis where operating costs are rising dramatically due to foreclosures and defaults. We are less than ¼ of the way through the foreclosure process."

Whalen says subprime losses never really showed up on balance sheets. But a coming wave of foreclosures will make them a reality. At a time when banks are already stressed, these rising operational costs will cause bankruptcy.

Even without foreclosure-gate banks were screwed. As the government stalls the clear out of toxic assets, bank liabilities will rise even more.

Click here to see Whalen’s presentation > 


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CHRIS WHALEN DESCRIBES WHY 2011 COULD MAKE 2008 LOOK LIKE A CAKEWALK

CHRIS WHALEN DESCRIBES WHY 2011 COULD MAKE 2008 LOOK LIKE A CAKEWALK

Courtesy of The Pragmatic Capitalist 

Christopher Whalen makes a remarkably convincing case for why we’ve simply kicked the can down the road and why the banks could be in for a repeat of their 2008 nightmares in 2011.  If Mr. Whalen is right the banking sector is in for a whole new round of government intervention, takeovers, likely nationalizations and general disaster:

The U.S. banking industry is entering a new period of crisis where operating costs are rising dramatically due to foreclosures and defaults. We are less than frac14; of& the way through the foreclosure process. Laurie Goodman of Amherst Securities predicts that 1& in 5 mortgages could go into foreclosure without radical action.

Rising operating costs in banks will be more significant than in past recessions and could force the U.S. government to restructure some large lenders as expenses overwhelm revenue. BAC, JPM, GMAC foreclosure moratoriums only the start of the crisis that threatens the financial foundations of the entire U.S. political economy.

The largest U.S. banks remain insolvent and must continue to shrink. Failure by the Obama Administration to restructure the largest banks during 2007?2009 period only  means that this process is going to occur over next three to five years –whether we like it or not.  The issue is recognizing existing losses ?? not if a loss occurred.

Impending operational collapse of some of the largest U.S. banks will serve as the catalyst for re?creation of RFC?type liquidation vehicle(s) to handle the operational task of finally deflating the subprime bubble.   End of the liquidation cycle of the deflating bubble will arrive in another four to five years.

Fast forward to the 1:07 minute mark where Mr. Whalen begins.

 


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Double Dip Est Arrivé: Institutional Risk Analyst

Double Dip Est Arrivé: Institutional Risk Analyst

Courtesy of JESSE’S CAFÉ AMÉRICAIN

Chris Whalen of Institutional Risk Analyst has this interesting interview on CNBC, sent to me by a reader.

I have not watched that television channel in some years, finding their shallowness and hypocrisy too much to bear. Of course my refuge, Bloomberg Television, has lowered its standards so much, with spokesmodels and smirking chimps, that it may have achieved parity. Are Cramer, Kudlow and Kernan still kicking? Remarkable.

This is an interesting exposition of the currency wars, and the pandering to the big financial institutions by the Fed over the past fifteen years, ultimately at the expense of the real economy in the distortions and misallocation of capital which the financial engineers have fostered.

Here is the interview with Jim Rickards to which Chris alludes.

Chris Whalen sounds like me. I wonder if he can cook? 

 


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Chris Whalen’s 2010 Outlook: “A Grudging Admission of the Truth”

Chris Whalen’s 2010 Outlook: "A Grudging Admission of the Truth"

By Aaron Task

Financials suffered Thursday after Citigroup’s massive secondary offering was poorly received and influential analyst Meredith Whitney cut 2010 estimates on Goldman Sachs and Morgan Stanley.

The answer is "yes" (or "both"), according to Christopher Whalen, managing director at Institutional Risk Analytics.

In 2009, the momentum created by a "wall of paper fiat dollars" overcame the industry’s still-poor fundamentals, driving the sector higher, Whalen says. "Where you see the markets changing in terms of sentiment is where fundamentals are so ugly they can’t be ignored."

Whalen is sticking by a prior forecast that the fourth-quarter will be a "bloodbath" for the banks but says the real ugliness won’t occur until the middle of 2010…

But even prior to Thursday’s selloff, a lot of traders were nervously watching the poor action in the financials as a possible "tell" for the broader market. The question is whether the recent weakness is just profit taking after the big gains earlier this year or concern about the fundamentals heading into 2010.

Read full article here.>>

 


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Phil's Favorites

Animal Spirits: The Absence of Stuff

 

Animal Spirits: The Absence of Stuff

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Mention Animal Spirits to receive 20% off from YCharts (*New YCharts users only)

Stories Discussed

Best graduation ever

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Zero Hedge

Deutsche Bank CEO Vows To Make "Tough Cutbacks" As Shares Slump To Record Low

Courtesy of ZeroHedge. View original post here.

Watching Deutsche Bank shares crash to new all-time lows (around €6.35 $7.07) just as the troubled German lender's annual shareholder meeting was getting underway in Frankfurt on Thursday, we could hardly imagine anything more appropriate. Actually, that's not true - there is one thing: The revelation, just hours before the meeting's start, that a 'software glitch' had blocked reporting of suspicious transactions for years.

With DB's brand mired in controversy thanks to Congressional subpoenas that have drawn attention ...



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Kimble Charting Solutions

DAX (Germany) About To Send A Bearish Message To The S&P 500?

Courtesy of Chris Kimble.

Is the DAX index from Germany about to send a bearish message to stocks in Europe and the States? Sure could!

This chart looks at the DAX over the past 9-years. It’s spent the majority of the past 8-years inside of rising channel (1), creating a series of higher lows and higher highs.

It looks to have created a “Double Top” as it was kissing the underside of the rising channel last year at (2).

After creating the potential double top, the DAX index has continued to create a series of lower highs, while experiencing a bearish divergence with the S...



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Insider Scoop

55 Biggest Movers From Yesterday

Courtesy of Benzinga.

Gainers
  • Obalon Therapeutics, Inc. (NASDAQ: OBLN) shares jumped 233.3 percent to close at $1.30 on Wednesday after the company reported expanded data from a large scale commercial use study that was presented at the Digestive Disease Week.
  • Ascent Capital Group, Inc. (NASDAQ: ASCMA) shares jumped 51.4 percent to close at $1.37 after the company announced a restructuring support agreement with Monitronics International.
  • Valeritas Holdings, Inc. (NASDAQ: VLRX) shares dippe...


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Chart School

Weekly Market Recap May 18, 2019

Courtesy of Blain.

China – U.S. trade talk continued to dominate the week.   A heavy selloff Monday was followed by 3 up days, with Friday moderately down.

On Monday, Chinese officials announced retaliatory tariffs against the U.S., hitting $60 billion in annual exports to China with new or expanded duties that could reach 25%.

Then on Wednesday:

The Trump administration plans to delay a decision on instituting new tariffs on car and auto part imports for up to six months, according to media reports.

...

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Digital Currencies

Cryptocurrencies are finally going mainstream - the battle is on to bring them under global control

 

Cryptocurrencies are finally going mainstream – the battle is on to bring them under global control

The high seas are getting lower. dianemeise

Courtesy of Iwa Salami, University of East London

The 21st-century revolutionaries who have dominated cryptocurrencies are having to move over. Mainstream financial institutions are adopting these assets and the blockchain technology that enables them, in what ...



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Biotech

DNA as you've never seen it before, thanks to a new nanotechnology imaging method

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

 

DNA as you've never seen it before, thanks to a new nanotechnology imaging method

A map of DNA with the double helix colored blue, the landmarks in green, and the start points for copying the molecule in red. David Gilbert/Kyle Klein, CC BY-ND

Courtesy of David M. Gilbert, Florida State University

...



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ValueWalk

More Examples Of "Typical Tesla "wise-guy scamminess"

By Jacob Wolinsky. Originally published at ValueWalk.

Stanphyl Capital’s letter to investors for the month of March 2019.

rawpixel / Pixabay

Friends and Fellow Investors:

For March 2019 the fund was up approximately 5.5% net of all fees and expenses. By way of comparison, the S&P 500 was up approximately 1.9% while the Russell 2000 was down approximately 2.1%. Year-to-date 2019 the fund is up approximately 12.8% while the S&P 500 is up approximately 13.6% and the ...



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Members' Corner

Despacito - How to Make Money the Old-Fashioned Way - SLOWLY!

Are you ready to retire?  

For most people, the purpose of investing is to build up enough wealth to allow you to retire.  In general, that's usually enough money to reliably generate a year's worth of your average income, each year into your retirement so that that, plus you Social Security, should be enough to pay your bills without having to draw down on your principle.

Unfortunately, as the last decade has shown us, we can't count on bonds to pay us more than 3% and the average return from the stock market over the past 20 years has been erratic - to say the least - with 4 negative years (2000, 2001, 2002 and 2008) and 14 positives, though mostly in the 10% range on the positives.  A string of losses like we had from 2000-02 could easily wipe out a decades worth of gains.

Still, the stock market has been better over the last 10 (7%) an...



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Mapping The Market

It's Not Capitalism, it's Crony Capitalism

A good start from :

It's Not Capitalism, it's Crony Capitalism

Excerpt:

The threat to America is this: we have abandoned our core philosophy. Our first principle of this nation as a meritocracy, a free-market economy, where competition drives economic decision-making. In its place, we have allowed a malignancy to fester, a virulent pus-filled bastardized form of economics so corrosive in nature, so dangerously pestilent, that it presents an extinction-level threat to America – both the actual nation and the “idea” of America.

This all-encompassing mutant corruption saps men’s souls, crushes opportunities, and destroys economic mobility. Its a Smash & Grab system of ill-gotten re...



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OpTrader

Swing trading portfolio - week of September 11th, 2017

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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Promotions

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Phil has a chapter in a newly-released eBook that we think you’ll enjoy.

In My Top Strategies for 2017, Phil's chapter is Secret Santa’s Inflation Hedges for 2017.

This chapter isn’t about risk or leverage. Phil present a few smart, practical ideas you can use as a hedge against inflation as well as hedging strategies designed to assist you in staying ahead of the markets.

Some other great content in this free eBook includes:

 

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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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