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Markets
David’s weekly update on the financial markets and economy
Goldman Sachs
The Greatest Trade Ever and the Psychology of Patience
Gregory Zuckerman’s The Greatest Trade Ever is a very different book than the vast majority of the [numerous] books on the economic crisis of 2008 that I have read thus far. Several of the books in my series have aspired to be non-ideological, but none (until now) have actually pulled it off. The Greatest Trade ...read this post
Wall Street Seized by those that brought us this Housing Success
Your Senate passed a bill today that is surpassed only by the Health Care takeover bill in its audacity and absurdity. I refer to the Financial “Reform” bill in which the entity that single-handedly built the housing bubble, single-handedly caused the credit crisis, single-handedly destroyed the mortgage-lending business, and single-handedly dampened the most innovative ...read this post
Who Are You Calling unAmerican, Comrade?
One of my favorite Proverbs is Proverbs 20:14 which says, “It’s no good, it’s no good, says the buyer; then off he goes and boasts about his purchase.” The fact that buyers and sellers participate in gamesmanship is as old as King Solomon. I have had the misfortune of listening to this despicable ...read this post
Time Magazine Commendably Defends Goldman Sachs
I am of the opinion that William Cohan’s groundbreaking piece in the latest Time Magazine is a must read (click here). Many in the blogosphere did a fine job defending Goldman Sachs in the wake of the asinine hit-piece in Rolling Stone this summer (my own defense can be found here). But to ...read this post
A Thoughtful Reply to Rolling Stone’s Hatchet Job on Goldman Sachs (and the facts)
Good writers have a huge advantage in the task of persuasion over mediocre or poor ones. The famous music magazine, Rolling Stone, tasked a gifted writer, Matt Taibbi, with writing an expose on the Wall Street-behemoth of Goldman Sachs. Somehow, Mr. Taibbi’s impressive writing skills proved quite inadequate in his recent effort to demonize the ...read this post
