Einsteinian Insanity: Media, “Experts” Say Central Banks Should Buy (More) Stocks

Einsteinian Insanity: Media, “Experts” Say Central Banks Should Buy (More) Stocks Earlier today, I touched on the fact that the BoJ and the ECB have largely failed to rekindle the inflationary impulse in their respective economies. And it’s not for lack of trying. Haruhiko Kuroda is monetizing the entirety of gross JGB issuance, imperiling liquidity…

It’s Good To Be King (Dollar) - Or Is It?

It’s Good To Be King (Dollar) - Or Is It? Heavy is the head that wears the crown. It’s good to be king. Asked to choose which of those old adages best describes how it feels to control the fate of the world’s reserve currency (“king dollar”) in a time of intractable currency wars and…

Here Come The Big Boys: Wells Fargo Kicks P2P Lenders While They’re Down

Here Come The Big Boys: Wells Fargo Kicks P2P Lenders While They’re Down Earlier today, we said the following about marketplace lenders (the politically correct name for P2P, or online lending):   “Coming full circle, it’s worth noting that even from the start this business was a risky proposition. These online intermediaries are comparatively inexperienced…

Does The Disaster At LendingClub Foretell The Demise Of Marketplace Lending?

Does The Disaster At LendingClub Foretell The Demise Of Marketplace Lending? Monday was one horrendous session for P2P powerhouse LendingClub. Shares fell by more than a third to close at just $4.62 following revelations that CEO Renaud Laplanche - who WSJ reminds us is the “telegenic French entrepreneur who argued that the Internet would upend…

Are We About To Witness A Reinvigorated Hunt For Yield? One Bank Says Yes

Are We About To Witness A Reinvigorated Hunt For Yield? One Bank Says Yes Last summer, Carl Icahn had a bit of “good natured” fun at Larry Fink’s expense at CNBC’s Delivering Alpha conference.   BlackRock, Icahn told Fink, is a “dangerous company.” The billionaire’s contention, in a nutshell, is that BlackRock is pyramiding systemic…

Taking Stock Of Oil As Saudi Arabia Ushers In A New Era

Taking Stock Of Oil As Saudi Arabia Ushers In A New Era As anyone who follows markets is well aware, oil prices have been a key determinant of broad market sentiment since late 2014 when the Saudis moved to drive the US shale complex out of business and secure geopolitical leverage by dealing a death…