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Doin' It Bloggystyle: They're All Here... Buffett, Countrywide, China, Greenspan!


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.

Oh no, there goes Tokyo, go go Mozilo...
  • The Times with a pretty eye-opening look into Countrywide's (CFC) business practices.
  • What Howard said. All this obsession over "what's Buffett doing" really doesn't do much for us common folk. We're not going to get the same deal he would to "save" CFC. It's about price.
  • With financial TV bleating on in the background, I am well aware that CEOs possess superhuman powers. But I agree with Dash of Insight here. Calling a recession in advance is not one of those talents.

You Can't Spell Irrational Exuberance without "Al"

  • Flashback almost exactly three months ago. Our illustrious former chairman (not to be confused with their former illustrious Chairman) opined on China.
  • "Speaking to a conference in Madrid via satellite Wednesday (May 23), Greenspan said the bull run in the mainland market could not last for much longer. 'It is clearly unsustainable. There is going to be a dramatic contraction at some point,' he was quoted by Reuters as saying."
  • FXI closed at 113.50 on May 23rd, then dipped to 110 on the Sir Alan selloff.
  • It closed at 153 yesterday. That's, um, 39% in a shade over three months.
  • My First Million at 33 takes an in depth overview of all things China.
  • I take a narrower look, as FXI option volatility goes thrombolic.

Looking Ahead

  • Some bearish seasonal weakness, via Crowder Investments.
  • Bespoke with a graphic look at the changing sector weightings in the S&P since 1990.
  • Trader Jamie on yesterday's Inside Day in the Nazz.

Carry This

  • So if Private Equity pays taxes at the normal income rate, the government would raise a mere $3.2 bln, as per Dealbook.
  • "What seems to some folks as an easy fix isn't quite as simple and clean and won't generate the kind of revenue they expect," said Drew Maloney, a principal at Ogilvy Government Relations, which was paid $3.7 mln in the first half of this year to lobby Congress on behalf of the Blackstone Group (BX), a private equity firm fighting a higher tax burden.
  • Agreed, if taxing them at normal rates won't let us eliminate the Alternative Minimum tax, why bother then?
  • As an aside, if I didn't pay tax at all, the lost revenue would hardly dent the budget either, so why not let me slide? I promise to spend the savings. Really.
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Position in CFC
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