Information about finance, the economy and business. Entertaining and informative. Seeking Alpha Certified Mark Sunshine Chairman & CEO
  1. GREAT MARKET RESEARCH AND INVESTMENT ADVICECHARLES PAYNE AND WALL STREET STRATEGIES" rel="bookmark">GREAT MARKET RESEARCH AND INVESTMENT ADVICECHARLES PAYNE AND WALL STREET STRATEGIES

    I have become friends with Charles Payne, CEO, Wall Street Strate­gies. Charles is a com­men­ta­tor for FOX Busi­ness Net­work and a well known inde­pen­dent research ana­lyst.  Charles does a great job for FOX and is a won­der­ful per­son off cam­era who is smart and fun. Recently, I started sub­scrib­ing to Charles’ writ­ten research and have been amazed at […] [read full story]

    Posted in: Charles Payne, FOX BUSINESS NETWORK, Wall Street Strategies
  2. BROKERAGE FIRMSTHE BUSINESS MODEL DIED DECADES AGO WITH THE ROTARY TELEPHONE" rel="bookmark">BROKERAGE FIRMSTHE BUSINESS MODEL DIED DECADES AGO WITH THE ROTARY TELEPHONE

    Here’s a news flash for exec­u­tives at bro­ker­age firms; changes in tech­nol­ogy reduce mar­gins and make busi­ness mod­els obso­lete and the bro­ker­age indus­try doesn’t have spe­cial immu­nity from tech­nol­ogy change. Barron’s front page arti­cle on June 30 (sub­scrip­tion required) sug­gest­ing that “Wall Street does have a future – one that looks sur­pris­ingly bright…” doesn’t under­stand […] [read full story]

    Posted in: Barron's, Brokerage, Leverage
  3. THE ECONOMY WHERE IS IT GOING? — A FOX BUSINESS NETWORK INTERVIEW" rel="bookmark">THE ECONOMY WHERE IS IT GOING? — A FOX BUSINESS NETWORK INTERVIEW

    On Fri­day, June 27, 2008 I was priv­i­leged to be a FOX Busi­ness Net­work guest. It is always a won­der­ful and fun expe­ri­ence to appear on FOX and Fri­day wasn’t an excep­tion. I was inter­viewed by Jenna Lee and Robert Gray who are bright and inter­est­ing peo­ple on air as well as in the stu­dio when […] [read full story]

    Posted in: BANKS, Brokerage, Federal Reserve, monetary policy
  4. OIL SPECULATORSTHEY AREN’T THE REASON FOR HIGH OIL PRICES" rel="bookmark">OIL SPECULATORSTHEY AREN’T THE REASON FOR HIGH OIL PRICES

    Today Con­gress announced a great break­through that explains the cause of high oil prices. The cure for the energy crises is now known and sim­ple leg­is­la­tion will cut gas prices, help the econ­omy and raise liv­ing stan­dards. MarketWatch’s head­line said it all: “Gas could fall to $2 if Con­gress acts….Limiting spec­u­la­tion would push prices to fun­da­men­tal […] [read full story]

    Posted in: Oil
  5. ARE WE THERE YET? NO WAY, WE HAVE A LONG WAY TO GO IN THIS CREDIT CRISIS!" rel="bookmark">ARE WE THERE YET? NO WAY, WE HAVE A LONG WAY TO GO IN THIS CREDIT CRISIS!

    Every­one keeps ask­ing “are we there yet”? Has the credit cri­sis has turned? Can we see the bot­tom? Rather than look­ing at evi­dence of con­tin­ued car­nage in the cap­i­tal mar­kets and intu­itively know­ing that the bot­tom hasn’t been reached, many peo­ple hope that things aren’t as bad as they seem and a gen­er­a­tion of sav­ings […] [read full story]

    Posted in: BANKS, Brokerage, Federal Reserve, monetary policy
  6. LIBOR IS BACK AGAINIF ONLY IT COULD BE A REAL INTEREST RATE" rel="bookmark">LIBOR IS BACK AGAINIF ONLY IT COULD BE A REAL INTEREST RATE

    The arro­gance of the British Bankers Asso­ci­a­tion (the “BBA”) and the lack of inter­est on the part of the United States Gov­ern­ment in con­nec­tion with the issues sur­round­ing LIBOR con­tinue to amaze me. LIBOR (the “Lon­don Inter­bank Offer Rate”) is sup­posed to be “the actual rate at which banks bor­row money from each other”. And, LIBOR […] [read full story]

    Posted in: BANKS, LIBOR
  7. US Auto Manufacturers Are Becoming Competitive Again" rel="bookmark">Surprise — The US Auto Manufacturers Are Becoming Competitive Again

    On Tues­day, June 3rd I was on FOX Busi­ness Net­work dis­cussing the US auto man­u­fac­tur­ers and why I think they are poised to regain mar­ket share in the North Amer­i­can car and light truck mar­ket. In par­tic­u­lar, assum­ing GM makes it through the next cou­ple of years (and the next cou­ple of years will be […] [read full story]

    Posted in: FOX BUSINESS NETWORK, Uncategorized
  8. THE EARNINGS ILLUSIONFAS STATEMENT 157 AND FAS STATEMENT 159" rel="bookmark">THE EARNINGS ILLUSIONFAS STATEMENT 157 AND FAS STATEMENT 159

    Appar­ently, I am not the only per­son to notice that banks and bro­kers have been book­ing “phan­tom” earn­ings. On June 2nd Bloomberg’s Bradley Keoun wrote a great story on the topic, reprinted below, includ­ing pro­vid­ing a his­tory les­son on who lob­bied FASB to include lia­bil­i­ties in mark to mar­ket account­ing. I keep on blog­ging about […] [read full story]

    Posted in: Accounting
  9. LIBOR REFORM – I COULDN’T MAKE THIS STUFF UP IFTRIED" rel="bookmark">LIBOR REFORM – I COULDN’T MAKE THIS STUFF UP IFTRIED

    In the face of inter­na­tional scrutiny and crit­i­cism, the British Bankers Asso­ci­a­tion (the “BBA”) announced Fri­day that it has decided to do essen­tially noth­ing to clean up its act so that US$ LIBOR actu­ally reflects mar­ket rates of inter­est. Accord­ing to Reuters approx­i­mately $150 tril­lion of debt has its inter­est rate indexed to LIBOR and […] [read full story]

    Posted in: BANKS, LIBOR, monetary policy