Here’s another humdinger: according to Bloomberg (via BTV), Rio’s rejection of BHP Billiton’s bid has led to speculation about other mining takeovers. The news anchor then cited the rise in other “takeover speculation” mining stocks like Barrick Gold, Newmont Mining, Goldcorp, Kinross Gold as evidence of this speculation. Let’s be clear — BHP’s bid for [...]
Bob Heller, a former Fed official, just popped on Bloomberg and stated that the Fed messed up the economy, get this, by raising interest rates too high and wrecking the housing market. I try not to get too belligerent when pointing out these foolish pundits but this guy must be an ABSOLUTE IDIOT. Remember, this [...]
Bloomberg’s Open Exchange is interviewing Jonathan Lewis, head of some firm which I’m sure manages billions of dollars for someone or other. Most readers of the blog know my pet peeve regarding talking heads who espouse boneheaded strategies and/or outlooks. But this guy Lewis seems to have his data wrong as well. He just mentioned [...]
For any of the peak oil skeptics, I’d highly recommend tuning into Bloomberg’s Open Exchange program today at 2pm PST and listening to Matt Simmons. He is the author of Twilight in the Desert and one of the best speakers on this subject. If you do tune in, be prepared for actual hard data, not [...]
Dawn Bennett of Bennett Financial Services just appeared on Bloomberg and nonchalantly mentioned expectations of the 10-year note coming down to 2.25% in 2008. She also asserted that there was no inflation — only phantom inflation. She used the ridiculous comparison of gas prices in the US to gas prices in the UK to illustrate [...]
Scott Minor (sp?), CIO of Guggenheim Partners, appeared on Bloomberg’s Final Word program today talking about interest rates. According to him, once the Fed gets the 10-year note down to 2.5%, the housing market will see buyers coming back to the table. Now I don’t disagree that 2.5% long-term rates will bring buyers back (including [...]
