Michael Gracie 

The PR hacks say another 4% decline in the S&P fully prices in a recession. Time to watch out below?

Sticking to hard data, this morning’s Fed Funds rate cut of 75 basis points was the deepest on record. Who’s record? The Feds own record, dating back to 1971. Note that there are several occasions where the Fed raised rates (either the discount or fed funds) by 3/4 of one percent: the summer of ’73, [...]

It looks good on paper. The Fed lowered rates 75 bips, and as you might guess the banking stocks rallied soon thereafter. It makes perfect sense – they’re getting cheaper money, which is supposed to help margins. Hours later there’s another move afoot – “emergency” prime rate reductions. Both M & T and National City [...]

The Economist calls the latest move desperation. With only a week to go until the next meeting, a 75 bip cut might make an investor think the Fed knows plenty they don’t. UPDATE: It’s funny that oil for March delivery had punched 7-week lows when the Fed made the announcement – I’m not sure how [...]

Dow futures were off 500. The Federal Reserve Bank decided this was unacceptable, and cut rates 75 basis points. Barry Ritholtz‘s crew calls the Fed the “Plunge Protection Team.” There is little doubt now that the “PPT” surely exists. My call for the next asset bubble? Bread. Buy now. As an aside, Donald Luskin of [...]

Because some of the employees behind it seem delirious. My monitor is an Apple Cinema HD 23”. It’s on the fritz – when I try to wake it up in the morning (or after any downtime more than a few hours) it takes anywhere from several minutes to several hours to turn back on. It [...]

HouseValues, for investing in ActiveRain. ActiveRain has been dubbed the “LinkedIn” for real estate agents, while HouseValues purports to tell you what price you should sell your home at. Real estate agents networking? House values? Me thinks the investor has lost, twice. UPDATE: People are still hitting the real estate sector with new ideas. While [...]

When I first read the headline, I thought fair enough – if Bank of America backs out they should pay a breakup fee. But alas, it’s Countrywide that will be doing the paying. Potentially scary for the troubled mortage lender. While we don’t have full details, you might expect to see some type of minimum [...]

Not politics…just facts. Nancy Pelosi announced today that Congress will be presenting an economic stimulus package early next week. The S&P 500 Index reacted by shedding almost 40 points (and the Dow was down a cool 307). Maybe Pelosi & Company should stick to stimulating the gourmet food in the House cafeteria? UPDATE: The markets [...]

Tech spending pessimism aside, ask yourself why a securities analyst makes a career change…into the public relations industry?!