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The richest CEO in private equity just wants to hire nice people

Blackstone CEO Steve Schwarzman may be aggressive when it comes to business, but, he says, he's actually a nice guy – and he likes his employees to be too. "I don't like people who are not nice," he said at a leadership...



The 7 Best Cinderella Stories in March Madness History

Donald Miralie/Getty Images The great thing about the NCAA Men’s Basketball Tournament is that you never know when an upset is going to occur. By some weird twist of fate, this event tends to bring out the best in every team that scores a ticket to...



How Negative Can Rates Go?



Abenomics and Japanese inequality, again

Another data point for those keeping track of the impact of “Abenomics”, via a recent speech by Bank of Japan governor Haruhiko Kuroda: Continue reading: Abenomics and Japanese inequality,...



Monica Lewinsky Will Give TED Talk

“Monica Lewinsky, the former White House intern at the center of President Bill Clinton’s impeachment trial, will continue her reentry into public life with a TED talk in late March,” CNN reports. Lewinsky’s...



NBC Plans to Launch Comedy Video Service

Comcast’s NBCUniversal is aiming to launch a comedy-focused subscription Web video service later this year, as interest grows in reaching young online viewers who don’t watch traditional...



Target to cut thousands of jobs



Petraeus Reaches Plea Deal Over Giving Classified Data to Lover

The move allows David H. Petraeus, the best-known military commander of his generation, to avoid a high-profile trial where embarrassing details about his affair would have been made...



Ukraine Hikes Rate to 30%, Requires Corporations to Sell 75% of Foreign Currency Earnings; Miners Not Paid For 3 Months

In an effort to arrest hyperinflation and general panic over rising food prices, Ukraine's Central Bank Hikes Benchmark Rate to 30 Percent. Ukraine's central bank will raise its benchmark refinancing rate to 30 percent from 19.5 percent, the...



Alibaba shares are at an all-time low — and people are asking questions about fake customers (BABA, YHOO)

Alibaba shares are at an all-time low.  On Tuesday, shares of the Chinese e-commerce giant were down more than 2.5% to trade below $82 for the first time since the company went public in September.  Since hitting their all-time highs in...



Best Buy Co Inc Profit Surges, Share Buybacks Resumed

Best Buy unveiled a better-than-expected surge in profits in its holiday quarter today, though its revenues dropped slightly short of estimates. The consumer electronics retailer also announced plans to buy back shares for the first time since...



Clinton Only Used Personal Email at State Department

Hillary Clinton “exclusively used a personal email account to conduct government business as secretary of state, State Department officials said, and may have violated federal requirements that officials’ correspondence be retained as...



Morning News: March 3, 2015

European Stocks Gain as German Retail Sales Rise Draghi’s QE Moves to Starting Line as Outlook Brightens CNPC Employee Lambastes China’s Pollution Documentary, Says Its Producer Doesn’t Have Brainpower Nasdaq Math: 5000...



Steve Wynn and his ex-wife are fighting over her seat on the Wynn Resorts board

Steve Wynn won't renominate his ex-wife, longtime shareholder and former director Elaine Wynn, to the Wynn Resorts board next month, and she's not taking the news well. In a letter written last month, Elaine Wynn told the board she would...



Calif. beach community prepares for high-stakes vote on oil drilling...

Calif. beach community prepares for high-stakes vote on oil drilling...(Third column, 15th story, link)Related stories:First came frackers, then came earthquakes... ...



Citigroup to Sell Its Subprime Lender OneMain to Springleaf for $4.25 Billion



Let’s Talk About Formaldehyde Testing Regulations

It was just yesterday that I wrote a post about how the Lumber Liquidators ($LL: no positions) saga intrigues me because the parties seem to be arguing about an objective topic, mainly: when you use CARB-compliant testing procedures, do LL’s...



George Carlin (2) vs. Barbara Kruger

To decide yesterday‘s contest, I’ll have to point to Jeremy’s comment: Rembrandt in a walk: -He believes that “God is in every leaf on every tree”. Most of his greatest paintings are portraits of himself or...



Druckenmiller: This Is The Ideal Time For The Fed To Raise Rates

Stanley Druckenmiller said it would be great if the Federal Reserve acts now in raising the interest rates, during an interview with Kelly Evans on CNBC’s Closing Bell on Monday. During the interview, Druckenmiller said, “I think the...



Bernanke Says Fed Already Follows Policy Rule

Former Federal Reserve Chairman said Monday Republican efforts to force the central bank to adopt an official policy rule to conduct interest policy are redundant because the Fed already sets out clear benchmarks for its interest rate actions. “The...



Fed Watch: Does The Fed Have a Currency Problem?

Tim Duy: Does The Fed Have a Currency Problem?, by Tim Duy: The PCE inflation data was released today, and I have been seeing commentary on the relative strength of the core-inflation numbers. This, for example, from the Wall Street Journal: A key...



Stock Market Bubble: Wall Street Is Ecstatic As The NASDAQ Closes Above 5000

Are we at the tail end of the stock market bubble to end all stock market bubbles?  Wall Street was full of glee Monday when the Nasdaq closed above 5000 for the first time since the peak of the dotcom bubble in March 2000.  And almost everyone...



Warren Buffett: Elizabeth Warren should be 'less angry'

Berkshire Hathaway CEO Warren Buffett isn't a fan of Sen. Elizabeth Warren's (D-Massachusetts) populist style. In a Monday interview on CNBC's "Squawk Box," Buffett argued that Warren should be "less angry and...



Paul Krugman Needs a T-Shirt

Paul Krugman is frustrated (my bold):In my own case, I’d guess that about 80 percent of what I’ve had to say about macroeconomics since the crisis was prefigured in my 1998 liquidity trap paper, which was classic MIT style — a stylized...



Morning News: March 2, 2015

Eurozone Consumer Prices Fall Again; Jobless Rate Hits Lowest Level Since 2012 European Stocks Firm After China Rate Cut U.K. Manufacturing Growth Accelerates to Fastest in Seven Months Mihail Fridman Says UK Threat to Block North Sea Deal ‘Not...



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Fed Watch: Does The Fed Have a Currency Problem?

Tim Duy: Does The Fed Have a Currency Problem?, by Tim Duy: The PCE inflation data was released today, and I have been seeing commentary on the relative strength of the core-inflation numbers. This, for example, from the Wall Street Journal: A key...



US factory orders fall again in Jan.

New orders for U.S. factory goods unexpectedly fell in January, posting their sixth straight monthly...



Citigroup to Sell Its Subprime Lender OneMain to Springleaf for $4.25 Billion

The sale of the consumer loan unit to another large subprime lender is expected to net a $1 billion profit for...



Federal Reserve Board extends comment period until April 3 for proposed rule to implement capital surcharges for largest, most systemically important...

Federal Reserve Board extends comment period until April 3 for proposed rule to implement capital surcharges for largest, most systemically important U.S. bank holding...



Simone de Beauvoir (2) vs. Raymond Carver

Yesterday‘s match is the closest call we’ve had yet. The funniest comment was the very first, from Anonymous: Yoko. I’d go up to her after the seminar and give her a list of all the bands I hate, and ask her if she could break...



Lumber Liquidators cancels conference presentation, tells investors it will report back next Thursday (LL)

Lumber Liquidators will get back to you.  In an announcement on Wednesday morning, the company said that it would not participate in the Raymond James Annual Institutional Investors Conference being held today. The company will, however, hold a...



ASA Staffing Index Signaling Accelerating Employment Data

ASA Staffing Index Signaling Accelerating Employment Data by Todd Sullivan, ValuePlays Remembering there is a ~4-6mos lag in this data what we are seeing that as we head through spring and into early summer we will see employment trends continue to...



Can Microsoft Corporation (MSFT) Dethrone Google Inc (GOOGL)’s Android As Most Preferred OS For Wearables?

Microsoft Corporation (NASDAQ:MSFT) is gearing up for its Windows 10 Launch and is hoping for a big success across mobile, laptop and PC platforms with the new Windows. But that is not just the company’s main target for 2015. Microsoft Corporation...



Stock Market Bubble: Wall Street Is Ecstatic As The NASDAQ Closes Above 5000

Are we at the tail end of the stock market bubble to end all stock market bubbles?  Wall Street was full of glee Monday when the Nasdaq closed above 5000 for the first time since the peak of the dotcom bubble in March 2000.  And almost everyone...



Liberals Mugged by Obamanet

Buyer’s remorse is already setting in for Google and other ‘net neutrality’...



Bank of America's U.S. Deposit-Taking Unit Financed Tax Trades

Bank of America Corp. used its government-backed U.S. banking subsidiary to finance controversial trades that helped hedge funds and other clients avoid taxes, according to documents and people familiar with the...



'Washington Strips New York Fed’s Power'

I wasn't aware of this, apparently for good reason: Washington Strips New York Fed’s Power, by Jon Hilsenrath, WSJ: The Federal Reserve Bank of New York, once the most feared banking regulator on Wall Street, has lost power... The...



The Strange Urge to Raise Rates

Obsessions, beyond the usual...



Nasdaq Market Levels: Employment vs Labor Demand [CHART]

Nasdaq Market Levels: Employment vs Labor Demand by Todd Sullivan, ValuePlays All this talk of “bubbles” and “tops” is quite frankly horseshit.  Anyone with even remedial abilities can compare Nasdaq ($QQQ) market levels in...



Morning News: March 2, 2015

Eurozone Consumer Prices Fall Again; Jobless Rate Hits Lowest Level Since 2012 European Stocks Firm After China Rate Cut U.K. Manufacturing Growth Accelerates to Fastest in Seven Months Mihail Fridman Says UK Threat to Block North Sea Deal ‘Not...



Druckenmiller: This Is The Ideal Time For The Fed To Raise Rates

Stanley Druckenmiller said it would be great if the Federal Reserve acts now in raising the interest rates, during an interview with Kelly Evans on CNBC’s Closing Bell on Monday. During the interview, Druckenmiller said, “I think the...



Negative rates as global cash burn

As Paul Krugman always likes to recount, strange things happen at the zero bound. Macroeconomics gets weird. Liquidity traps prevail. And a whole slew of paradoxes come into being. And that’s largely because below the zero bound things get even...



How Negative Can Rates Go?



Today's Economist: We Keep Flunking Forecasts on Interest Rates, Distorting the Budget Outlook

The overestimates on rates for government bonds seem to be systemic, and we may be demanding more budget restraint than...



'What is the New Normal for the Real Interest Rate?'

Jim Hamilton: What is the new normal for the real interest rate?: The yield on a 10-year Treasury inflation protected security was negative through much of 2012 and 2013, and remains today below 0.25%. Have we entered a new era in which a real rate near...