Financial Sense Newshour
Jim is pleased to welcome back Professor William Black to the program. Professor Black discusses the "reinvention" of crony capitalism and notes that accounting is now the weapon of choice for fraud. He also discusses the concentration of derivative positions, and notes that five large banks account for 90% of derivatives. As to where the regulators are in this financial crisis, Professor Black says they are both absent and bought.
Jim welcomes back Ned Schmidt CFA, publisher of The Agri-Food Value View Report. Ned sees the drought conditions affecting the market for grains in the US, but not globally as there is no current shortage. In addition, Ned notes that the US farmers are being hurt by the strengthening US dollar, as importing countries such as China can buy corn or soybeans cheaper from grain exporters such as Brazil. Ned also discusses the agriculture stocks he likes the best currently.
FSN Foreign Correspondent Erik Townsend interviews Franck Biancheri, founder of European think tank LEAP/E2020 on the causes of the sovereign debt crisis, Europe’s future, pending war between Iran, Israel and the United States, and common criticisms of European socialism.
Jim welcomes back technician David Nicoski CMT from Vermilion Technical Research, LLC. David sees the US markets decoupling from the global markets, as money is heading into large cap stocks with liquidity and dividends. David also sees the market more or less on hold until the "fiscal cliff" issue is resolved by Congress.
Jim welcomes Eric Hunsader of Nanex to discuss the recent Knight Capital Group debacle, as well as the “flash crash” and Facebook IPO issues. Eric also discusses how high frequency trading (HFT) is affecting the individual investor, and what role the regulators are playing (or not playing) in response. Jim also answers your Q-calls in this segment.
In this week’s Lifetime Income Series, Jim looks at the challenge of overcoming your fears in volatile markets and irrational times and putting together a plan to retire with security. Also in this segment, FSN foreign correspondent Erik Townsend joins Jim from France...
In this edition of the Big Picture, “Iceberg Ahead—Engines Full Steam!” Jim discusses results from two recent academic studies on the impact of uncertainty in the job market. Jim also discusses a new study from Ernst & Young showing that new tax policy...
Jim welcomes back Eoin Treacy, Global Strategist at Fullermoney.com and Stockcube Research Ltd. in London. Eoin believes we are at the beginning of a major bull market in blue chip stocks, as pension funds and investors are underinvested.
Jim welcomes Doug Noland, senior portfolio manager of the Federated Prudent Bear Fund, Prudent DollarBear Fund and Market Opportunity Fund. Doug sees the "risk-on and risk-off" markets moving now as a result of government policy-making, rather than market fundamentals. He also believes the US credit cycle is still in an uptrend and governments will keep the cycle elevated. Doug sees the sovereign debt crisis as much more serious than the private debt crisis, and the day of reckoning will be more severe. Doug is currently managing risk through the use of T-bills, gold and stock-shorting.
Jim welcomes back Jeff Christian, founder of the CPM Group. Jeff believes that gold prices have turned the corner, and the exit of the momentum traders has been offset by value investors buying gold. Jeff’s top sectors for 2012 are (in order) palladium, platinum and gold. Jeff sees numerous catalysts for higher gold prices ahead, including US policy mistakes, more QE from the Fed, and the "fiscal cliff" tax increases and spending cuts, due to begin in 2013.