I’ve long been a proponent of using frequent flier miles, cash back cards, and even super low balance transfers to the advantage of your personal finances. However, this guy is taking it to a whole new level. After being laid off his executive job, and having amassed millions in frequent flier miles, Jim Kennedy is now using his frequent flier miles to cover his expenses. Read more…
Banking stocks have been all over the place in recent days as investors find themselves in a toss up of whether or not to own financial shares going into what could be a new tax on the largest banks. In an attempt to recover lost TARP money, the administration is considering a new bank tax on firms with over $50 billion in assets to make up for unreturned bailout funds. Read more…
General Motors may be down, but its not out. After telling some 2000 dealers it would not renew their franchise agreements last October, the company will bring back 600 dealers to its network. Looks like good news following Toyota’s huge recall problems… Read more…
Where there’s controversy and problems in the market you’re sure to find Goldman Sachs. This investment bank just can’t stay out of the spotlight—a problem that’s not going away any time soon. This time at least Goldman wasn’t in the wrong. Read more…
Though Warren Buffett certainly earns respect for his impressive returns at the helm of Berkshare Hathaway, the double speak on the topic of bailouts and speculative investing shows the kind of guy he really is. Read more…
Just as I had written a few days ago, it wasn’t until the Fed began locking up or calling back its inflationary programs that it would have any affect on monetary policy. However, just a few days later, the Fed has done just that, securing $200 billion worth of reserves in Treasuries in an effort to calm investors worried about inflation. Read more…
Pundits are already lining up to call the recent action by the Federal Reserve its big exit strategy. However, facts are damning things. A Federal Reserve exit from the markets won’t be in the form of interest rate policy, it’ll come when the Fed starts to dump its MBS and Treasury holdings. Read more…
Its no secret that China is pulling all stops in an attempt to slow or thwart an oncoming asset bubble in real estate as well as the stock market. Most recently, China moved swiftly to raise the reserve ratio at lending banks in an effort to lower the money supply ceiling. Read more…
In one week we watched the stock market tumble more than 6% on news that Greece was having fiscal problems stemming from its oversized debt. Though the country is a member of the EU, and bankruptcy is never good for the global economy, I can’t find any reason for the markets to react in such a way. Read more…
The big money is good, really good, at predicting when the markets are soon to move. For the past year I’ve been watching the option volume of the big boys and many of them have proven to be extremely profitable. Recently, $1.2 billion of stock was protected to the downside with put options. Needless to say, the markets tumbled soon after. Read more…
I’ve been throwing an idea around in my head. At what point do the odds cease to matter and the chance of big money becomes the main motivator? Read more…
Banks are getting creative with their advertising by utilizing a model that is half adopted from the mail in rebate idea. Some banking institutions are offering high interest, high yield checking accounts that pay as much as 4% on accounts greater than $25,000. Read more…
As repetitive as it may seem, it is important for investors to realize there is only one way to get rich. Slowly. Read more…
With the Great Recession still in effect and consumers still cutting back, 2010 could be the year of death for credit card profit margins. A battered consumer, a fear of debt and new legislation regarding credit card interest rates could create a death spiral for plastic. Read more…
Small provisions in humungous bills often realign whole industries. One case, a new tax on indoor tanning products, will increase the price consumers pay for tanning services by 10% to pay for a new healthcare system. Read more…
Despite criticism from both the left and the right of the political spectrum, Bernanke was reappointed by the Senate as the Chairman of the Federal Reserve. The vote, which was closer than most, came in at 16-7. Read more…
One of the few bright spots in any US based recession is that exports typically strengthen as the US dollar weakens. This recession has been no different. For the sixth straight month, the US trade deficit has shrunk as Americans export more and import less. Read more…
After shedding only 11,000 jobs in November and a multi-month trend of upward revisions, analysts are predicting that November could have actually added more jobs than were lost, pointing towards a recovery. Read more…
The Federal Reserve is probably one of the most criticized (semi-)Federal institutions right now. From the constant grilling of Ben Bernanke as he testifies before the House Financial Services Subcommittee to the bill, HR 1207, that would audit the Fed, the Fed is certainly in the middle of all kinds of macroeconomic discussion. Read more…
Black Friday shoppers were out in force this year, scoping out deals that ranged from flat screened televisions to cameras and GPS equipment. Though the number of shoppers may have been in line with a healthy shopping season, it remains to be seen whether store margins will meet their marks.
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It should be evident to anyone with any financial markets/economics experience that the Federal Reserve needs to raise rates. They won’t, however, as 0% rates create an excellent opportunity for banks to arbitrage the difference in Fed rates and Treasuries. Read more…
Recent unemployment numbers in the 200,000 region contrast nicely to the 4-600,000 jobs lost per month early in 2009, but it may be only a few short months until employment picks up again. Read more…
It almost seems like peak oil all over again. The word on Wall Street is that gold supplies are thin, and after a 10 percent decrease in gold mined in the past decade, it looks like the yellow metal may be more rare than we think. Read more…
So far this year the IPO market has been in a stalemate as companies fear they won’t be able to attract enough attention from investors to warrant an IPO. Most new issues on the stock exchanges have been exchange-traded funds of different varieties but two recent IPO successes point to a healthy capital market and the ability to raise money, even in a recession. Read more…
Gold bugs and precious metals investors alike were happy to see the sale of 200 tonnes of IMF gold to India. Though investors around the world may be buying gold, we still need to see a consolidation before gold moves higher once again. Read more…
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