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By Monty Guild & Tony Danaher, on October 27th, 2008
ANNA SCHWARTZ SPEAKS ON WHY INFLATION WILL RETURN
Anna Schwartz is 92 years old and is one of the world’s most respected economists. She co-authored with Milton Friedman the brilliant work A Monetary History of the United States, and has worked with the National Bureau of Economic Research for 67 years. She retains her emeritus professorship at the Graduate Center of the City University of New York
Dr. Schwartz has recently been speaking out on the ad-hoc nature of the bailout programs that Finance Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke have cobbled together recently. We find . . .
Continue Reading: ANNA SCHWARTZ SPEAKS ON WHY INFLATION WILL RETURN
By Monty Guild & Tony Danaher, on October 17th, 2008
We are seeing stocks getting cheaper in the U.S. and abroad, and we are making up lists of good values. We see some values in the U.S., and we see even more values abroad.
There is no big short term reason to get fully invested. We continue to hold Treasury bills as a large component of our portfolios, but we do see more values emerging. We believe that there is time to carefully analyze the opportunities and companies. In our opinion, after careful analysis, making some purchases of good companies will produce long term profits.
SOME OF THE . . .
Continue Reading: WHERE WE ARE SEEING SOME VALUE
By Monty Guild & Tony Danaher, on October 10th, 2008
Today, Merrill Lynch published a report on the economy and the banking crisis.
In it, Merrill Lynch’s chief economist, David Rosenberg, corroborates my opinion. He states
"It is truly a modern day depression, in our view-what else do you call it when an entire industry vanishes (investment banks) in less than a year: the ranks of the unemployed soar more than 30%, and nearly one in ten homeowners with a mortgage are either in arrears or foreclosure?" Like us, he goes on to say "Now lets not confuse that with the Great Depression-this is not the 1930′s all . . .
Continue Reading: MERRILL LYNCH PUBLISHED A REPORT ON THE ECONOMY AND THE BANKING CRISIS
By Monty Guild & Tony Danaher, on October 9th, 2008
GOLD AND THE BANKING MELTDOWN
The realization (as pointed out in the Financial Times article today entitled "Rising CDS Action Increases the Strain") that the Lehman Brothers’ failure could create a Credit Default Swap (CDS) loss of $400 billion for counterparties is sinking into the market. This realization is leading to a continuing sell off in stocks worldwide.
It is just now dawning on people in the financial community that the two Icelandic banks failing this week makes a total of six CDS issuers who have failed in one month. CDS buyers have no idea if they will get . . .
Continue Reading: GOLD AND THE BANKING MELTDOWN
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