Frontrunning: November 29

So much for the euphoria: Stores open early on Thanksgiving but shoppers in no rush (Reuters) Get to work Mr. Chairwoman: Do-Nothing Congress Dithers on Budget as Deadline Nears (BBG) FX to Libor Probes Leave U.K. Traders Looking for Lawyers (BBG) Pro… [...]

Howard Marks: "Markets Are Riskier Than At Any Time Since The Depths Of The 2008/9 Crisis"

In Feb 2007, Oaktree Capital's Howard Marks wrote 'The Race to the Bottom', providing a timely warning about the capital market behavior that ultimately led to the mortgage meltdown of 2007 and the crisis of 2008 as he worried about "c… [...]

Frontrunning: November 27

Winter storm lashes eastern U.S., threatens Thanksgiving travel (Reuters) Fed Reveals New Concerns About Long-Term U.S. Slowdown (BBG) Private equity keeps $789bn of powder dry (FT) – because they are “selling everything that is not nailed down” Merke… [...]

Housing Permits Print At Highest Since June 2008 Entirely On Surge In Rental Units

Call it the last hurrah for Private Equity and hedge funds as they scramble to “telegraph” that there is still some interest in rental property conversions. Despite ever louder cries that the REO-to-Rent and the general surge into rental properties is … [...]

Frontrunning: November 26

M&A Mystery: Why Are Takeover Prices Plummeting? (WSJ) Hedge-Fund Fight Club Traded Illegal Tips Not Punches (BBG) Speed Traders Meet Nightmare on Elm Street With Nanex (BBG) A new wave of U.S. mortgage trouble threatens (Reuters) Penny Lane: Gitm… [...]

A Bull Market In $1,000 Faucets As Home Equity Loans Soar

Submitted by Michael Krieger of Liberty Blitzkrieg blog, “People don’t want granite countertops — they want marble costing at least 25 percent more,” said Mroz, owner of Michael Robert Construction in Westfield, an affluent town… [...]

70% Of Brooklyn Home Sales Are To Hedge Funds, Investors And International Buyers

It has been over a year since we listed the three “pillars” of the latest dead cat bounce in the housing market. Recall: “the REO-to-Rental subsidized investment program, which led to an epic surge in demand for multi-family housing, i.e., rental, unit… [...]

5 Things To Ponder This Weekend

Submitted by Lance Roberts of STA Wealth Management, It is hard to believe that the end of the year is fast approaching.  This weekend's list of things to ponder covers a range of issues that caught my attention as I prepare to write my annua… [...]

Frontrunning: November 21

When it fails, do more of it – Bank of Japan hints at extending ultra-loose monetary policy (FT) PBOC Says No Longer in China‚Äôs Interest to Increase Reserves (BBG) Fed casts about for endgame on easy-money policy  (Hilsenrath) Big trucks still … [...]

Too BiG To JaiL…

    The Law demands that we atone When we take things that we don’t own; But leaves the lords and ladies fine Who take things that are yours and mine… Anonymous, circa 1764   . .   The dice of this moron are loaded All trust… [...]