As stock markets attempt to notch up a sixth consecutive week of gains, the debate as to the longevity of the nascent rally rages on. The featured video material sees Steve Leuthold stating that the S&P 500 Index will rise to 1,100 this year, but Laslo Birinyi taking a bearish stance and advising that the “odds are not with you”. Similarly, Jim Rogers expects more “bottoms”, Nouriel Roubini claims markets to be “way too optimistic” and acclaimed Cazenove chartist Robin Griffiths is looking for a retest of the March 9 lows.
As far as the economic outlook is concerned, Martin Feldstain refers to the “faux recovery”, whereas Wilbur Ross and Abby Cohen comment on the slowdown in the econimic deterioration. Adding to the economic debate and related issues such as bank stress tests, the blame game, Goldman Sachs and commercial real estate, this week’s harvest of videos also features Gary Shilling, Joseph Stiglitz, John Bogle, Muhammad Yunus, Ben Bernanke, Jach Welch, Mohamed El-Erian, Christia Romer, Sam Zell, Richard Bove and Nassim Taleb. A full house indeed!
A real gem is provided by outspoken hedge fund manager Hugh Hendry, who proclaimed: “I want to short people like me”. I guess he is not alone.
The selection below kicks off with a new song, “Dow Jones”, from Downsize’s new album “Going out of business”, and concludes with Jon Stewart interviewing William Cohan on his new book, “House of Cards” which details the fall of Bear Stearns.
YouTube: Dow Jones by Downsize
“Dow Jones” is Downsize’s first single off their album “Going Out Of Business”. The video also features Nicole O’Connell.
Source: YouTube, March 2, 2009.
Bloomberg: Shilling favors disclosure of bank stress-test results
“Gary Shilling, president of A. Gary Shilling & Co., talks with Bloomberg’s Betty Liu and Peter Cook about the outlook for public disclosure of results of the “stress-tests” on US banks. Shilling, speaking in New York, also discusses the outlook for the US economy and investment strategy.”
Source: Bloomberg, April 15, 2009.
The Wall Street Journal: Bank stress tests, explained
“Gauging a bank’s health by seeing how much capital it would need to get through a deep recession seemed a good idea at the time, says WSJ economics editor David Wessel. But things have not gone as planned.”
Source: The Wall Street Journal, April 15, 2008.
Bloomberg: Stiglitz sees “big” losses from US bank-rescue program
“Nobel-prize winning economist Joseph Stiglitz talks with Bloomberg’s Kathleen Hays about the US government’s Troubled Asset Relief Program for banks. Stiglitz, former chief economist at the World Bank and a professor of economics at Columbia University, also discusses the government’s stress tests for banks and the Obama administration’s strategy to bolster banks’ balance sheets to spearhead a recovery in an economy facing its longest recession in at least a quarter century.”
Source: Bloomberg, April 16, 2009.
CNBC: Bogle – crisis: money managers deserve some blame
“Money managers deserve some of the blame for the financial crisis, says Jack Bogle, Vanguard Group CEO.”
Source: CNBC, April 15, 2009.
Credit Suisse: What is the impact of G-20 Summit?
“On April 2, the G-20 announced a $1.1 trillion aid package and other measures aimed at boosting the global economy. Will this finally get us out of the crisis? Giles Keating, head of the Credit Suisse Global Economics and Strategy Group, explains the impact of this summit.”
Click here for the transcript.
Source: Dorothée Enskog and Joy Bolli, Credit Suisse, April 10, 2009.
Bloomberg: Yunus says loan repayment high during crisis
“Muhammad Yunus, founder and managing director of Bangladesh’s Grameen Bank, talks with Bloomberg’s Pimm Fox about the success of microfinance and the repayment rate of microborrowers during the global recession and financial crisis. Microfinance, or microcredit, shot to prominence in 2006 when Yunus and his Grameen Bank won that year’s Nobel Peace Prize for advancing social and economic development by giving loans to the poor without collateral. Yunus speaks from the World Health Care Congress in Washington.”
Source: Bloomberg, April 15, 2009.
