What I’m Reading Today
- Judging from how sharply and quickly these prices have risen, it’s a pretty good guess that most of the buying has not been done by long-term investors who are suddenly upbeat about the prospects of global economic growth. The better bet is all this is the handiwork of short-term speculation by banks, hedge funds, private-equity funds and other financial center wise-guys moving as a herd, financing their purchases directly or indirectly with some of that yummy zero-percent money provided courtesy of the Fed – “The Fed’s airheaded bubble orthodoxy”, Steven Pearlstein, The Washington Post, November 13
- “Housing Agency’s Cash Reserves Down Sharply”, David Streitfeld, The New York Times, November 13, A1
- “For Comcast’s Chief, Content Led The Way”, The New York Times, November 13, B1
- “Kass: Market Ignorance Is Bliss”, Doug Kass, TheStreet.com, November 12
- “Lou Dobbs Abruptly Quits CNN”, The New York Times, November 12, B1
- The federal government has moved to seize a Carmichael mosque and seven other properties from Texas to New York owned by a nonprofit Muslim organization that federal prosecutors allege is a front for the Iranian government – “U.S. moves to seize Carmichael mosque, alleging Iran ownership”, The Sacramento Bee, November 13, A1
- Andre Agassi 60 Minutes Interview, November 8