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Doin' It Bloggystyle: Feeling Sentimental, the Bernanke Cycle...


Minyanville brings together the best of what they are saying "out there" about the topics we're talking about right here.

Blogs themselves need no introduction, as they get as much publicity as pretty much anything these days, save maybe the latest Britney news. There's an expanding world of excellent financial blogs, covering just about everything, from global economics to swing trading. Minyanville's goal is to bring together the best of what they are saying "out there" about the topics we're talking about right here.

What Would Jeff Daniels Do?
  • Does it make any sense to have "expectations" for a sentiment survey? Isn't the whole thing kind of a measurement of expectations to begin with? And isn't the stock market itself just one big sentiment survey, and...
  • Well, whatever, the Michigan number fell short of The Number.
  • Barry has an explanation."My best guess as to the cause of the low sentiment readings was a lethal combination of depressed Yankee fans, suicidal Home Builders, and Larry David."

It's the Economy

Agreeing to Agree
  • I sort of feel like I'm not adding much to this discussion, but I agree with Bill at VIX and More...
  • as he summarizes in this interview by Steve Smith...
  • of Brian Overby from Tradeking...
  • ....who makes several point I also believe are 100% correct regarding VIX options.
  • Bottom line is, I don't trade this product, and have a concern that many who do trade it do not adequately understand how it works.
  • But if you are of a mind to try it, Brian's suggestions, laid out in Bill's post, are spot on.

A Rose By Any Other Name
  • I found this and this kind of amusing in that Times "Money Honey" article the other day. But if I had to critique it, I'd say it kind of a harmless puff piece disguised as... I'm not sure what.
  • But there were more problems with it, as in this paragraph.
  • The Citigroup (C) spokeswoman, Leah Johnson, said the company had no issues with Ms. Bartiromo's coverage. She conducted a prominent interview recently with the Citigroup senior vice chairman, William Rose.
  • Felix Salmon has an interesting observation.
  • A prominent interview is an interview with a prominent individual. And the chap in question can't be that prominent if a NYT financial reporter, not to mention all of his editors, have no idea who he is. There is no senior vice chairman called William Rose; I believe that Johnson was probably referring to Bill Rhodes.
  • OK, the Times corrected the mistake.
  • But wait, Felix Salmon has more, concerning this paragraph.
  • "Having weathered the Citigroup storm, Ms. Bartiromo said, she is free to pursue the thing she most loves to do: talk to business people about what is about to move the market.'I love this thing now called sovereign funds,' she said, meaning the large pools of capital amassed by governments in Asia and the Middle East, and managed by groups like Qatar Associates, an international investment firm. 'I had the head of Qatar on and he said: 'Look, we have $60 billion we want to put to work.' I find that kind of stuff so exciting. I find it so sexy.'"
  • Well first of all, the original article referred to them as "Cutter Associates", not "Qatar".
  • And, he adds "there also isn't a firm, a group, or anything else called Qatar Associates. There's a sovereign wealth fund called the Qatar Investment Authority which is, well, sovereign: describing it as "an international investment firm" rather misses the point."
  • Why is this important? He points out. "On any serious financial publication, substantially everyone should know what a sovereign wealth fund is. As the IMF's Simon Johnson notes, these funds now run some $2-3 trillion, and could reach $10 trillion by 2012. Those are enormous sums of money."
  • Hat tip to Dash of Insight on all this, as well as summarizing many of the underlying issues here as they regard MSM and the financial blog world.
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