Markets

Wall Street CIO tells investors: ‘Don’t fight tech, own it’

David Bianco, DWS Group Americas chief investment officer, told CNBC that investors should own tech stocks right now, and wait until after the election to buy value stocks. “We all wish our entire portfolio were tech stocks right now. We’re overweight tech, and that has helped us,” Bianco said. He […]
Wall Street CIO tells investors: ‘Don’t fight tech, own it’
Markets

We Just Saw The Worst Run Of Outflows In Muni Bond History

Municipal bond funds saw their worst outflows ever in 2013. Fears over rising interest rates and the dire credit environment for Detroit and Puerto Rico combined to create 22-straight weeks of redemptions, totaling $US58 billion. “It’s the worst period in my 25-year career,” Tom Metzold of Eaton Vance Management told […]
We Just Saw The Worst Run Of Outflows In Muni Bond History
Markets

Bill Gross Is Buying Up Tons Of New York Munis

[credit provider=”Bloomberg TV” url=”http://www.bloomberg.com/video/pimco-s-gross-on-fed-policy-investment-strategy-D09FqpFJRuCpd~VCW3GSsg.html”] Dec. 27 (Bloomberg) — Bill Gross has more than doubled his holdings of municipal debt sold in New York, helping propel the world’s largest bond fund to its biggest investment in local securities in six years.The $285 billion Total Return Fund, which Gross runs at Pacific […]
Bill Gross Is Buying Up Tons Of New York Munis
Markets

Why S&P Just Raised The Debt Outlook For New York State

[credit provider=”AP Photo/Hans Pennink”] S&P has lifted the debt outlook for New York State from stable to positive, meaning an actual upgrade is possible if trends continue.The announcement explains the move. Basically, the state is moving towards balanced budgets, and has adopted schemes that will reduce future expenditures on school […]
Why S&P Just Raised The Debt Outlook For New York State
Markets

David Kotok And All His Friends Agree: MEREDITH WHITNEY IS WRONG

[credit provider=”Bloomberg” url=”www.businessweek.com/videos/2012-08-03/kotok-on-u-dot-s-dot-payrolls-jobless-rate-confidence”] The war against Meredith Whitney’s call for a municipal bond-pocalypspe continues.David Kotok of Cumberland Advisors just wrapped up his 5-day retreat at Leen’s Lodge in Grand Lake Stream, Maine.  The annual gathering included around 48 financial market professionals, economists, traders, academics, and Fed advisors.
David Kotok And All His Friends Agree: MEREDITH WHITNEY IS WRONG
Markets

GARY KAMINSKY: Meredith Whitney Is Re-Writing History; 60 Minutes Should Release Her Full Interview Tape

[credit provider=”CNBC screenshot” url=”http://video.cnbc.com/gallery/?video=3000107250&play=1″] Meredith Whitney is primarily known these days for predicting a massive wave of muni defaults, which did not come true.But contrary to what you might think, Meredith Whitney, the CEO of Whitney Advisory Group, said this morning on CNBC’s “Squawk Box” that she does not advise her clients […]
GARY KAMINSKY: Meredith Whitney Is Re-Writing History; 60 Minutes Should Release Her Full Interview Tape
News

This California School District Deserves To Go Bankrupt

[credit provider=”en.wikipedia.org” url=”http://en.wikipedia.org/wiki/File:TwinPeaksPoway1.jpg”] While banks are still being persecuted for lending too much and not lending enough, too many still are getting money they shouldn’t.  Case in point, a San Diego school districtIn 2008, voters had given the district permission to borrow more money to finish its modernization, and they had received a big […]
This California School District Deserves To Go Bankrupt
Markets

Meredith Whitney Was Right About The Muni Disaster After All

[credit provider=”60 Minutes”] Analyst Meredith Whitney has been repeatedly lambasted for her prediction on “60 Minutes” in December 2010 that “you could see 50 to a hundred sizable defaults” in municipal bond markets.In truth, there have been relatively few important municipal defaults—just an average of 5.5 per year in 2010 […]
Meredith Whitney Was Right About The Muni Disaster After All
Markets

Avoiding Muni Defaults Set The Stage For An Infrastructure Crisis

Warning: Wonkish When you stick your neck out and make prognostications about the future, sometimes you’re going to be wrong. I’m certainly no exception. But when it comes to really big misses, I think Meredith Whitney’s call for a monster blow-out of the Municipal Bond market is on top of […]
Avoiding Muni Defaults Set The Stage For An Infrastructure Crisis