What's Bid?

Stock market can’t hold  a bid.  In the good old days when an order filler had a massive order he needed to unload, he would turn to the pit and scream, “What’s bid?”.  If there was silence you knew everyone …

Twitter Update-"pointsnfigures"

I am still learning a lot about Twitter.  It’s really a powerful tool if used correctly.  You can follow this blog on twitter by tapping the new button in the upper right hand corner.  We also have a Facebook page, …

iPhone 4 Mania

Sharp Booth Graduate School of Business grad Anna Janowski posted this video on her Facebook. I stole it. Peed in my pants while watching it.

The Church, Usury and Good Credit Policy

John Vest is a Presbyterian minister.  He blogs here.  Rev. Vest sent me an interesting policy piece regarding the Presbyterian Church, usury and the 21st Century. The Bible talks about usury, so it is appropriate for the church to try …

Economic Models

One of the problems with the financial crisis was that stat geeks in the back room created models that replicated underlying assets. In the over the counter(OTC) derivatives market, they would trade exotic derivatives. Instead of actually looking at what …

Who needs NASA?

I spend a little time in northern Minnesota in the summer.  We are on a little lake up near Grand Marais.  Grand Marais is a cute little town, with the World’s Best Donut shop.  A couple of enterprising fellows on …

A Brief Thought on America

Am-e-ri-ca.  The word rolls off the tongue.   In every dialect, the four syllables mean one thing to billions of people.  Freedom, opportunity. Medal of Honor recipient Herschel “Woody” Williams said it best.  It’s how I feel on the 4th. …

Da Future

Lots of economics blogs out there. It is fashionable to be an economist now. Even Obama has given up law and has become an economic prognosticator. Of course, like most of them he has been wrong. To be a real …

Don't Drink and Trade

Recently, a British oil trader was fined for single handedly causing a jump in Brent Crude prices.  After a week end bender, he continued to keep his drink on and started buying oil. He drove the market up, and then …

Stuck In The Muck

Economy is stuck in the mud. Today’s employment report showed -125,000 jobs. Keynesians are all about spending more money. The mantra is if we didn’t do stimulus we would be in Depression. Nancy Pelosi seems to think that sending people …

Hey Lebron! Come to Chicago.

Dear Lebron James, Typing just a little note to let you know Chicago would be a better place than NYC or Miami for you, but more importantly, your family. There are several reasons why. 1. The Bulls have a better …

Market Pre-Unemployment

Well, I was incorrect about Wednesday’s and Thursday’s market. It declined a lot more than I expected. On Wednesday, the market fell apart in the last hour. It had a bid all day. On Thursday, market opened and went lower, …

Fault Lines

Just read this book. It’s by a Professor of Economics, Raghu Rajan. He and others at Chicago, like Luigi Zingales and John Cochrane have been right on when it comes to writing about causes and solutions to the financial crisis. …

Long Haul Investing

Yesterday, I met with a person that is crossing the country and writing a book. She was interested in interviewing traders, because supposedly we think different! Anyway, we spoke for about an hour. One question she asked me piqued my …

Technical Difficulties

Sorry about the appearance of the site. I upgraded to WordPress 3.0 and the blog looked different. I am working on the problem, but won’t have it fixed for at least a day. WordPress is really a pain to get …

Sick Market

Why the heck is the market puking? That’s what people are asking themselves today. The market tried to rally today, but in the last hour everyone puked. I have a few reasons why. One, uncertainty. On The Closing Range radio …

This is Justice? The Rubashkin Case

Periodically, I open up the blog to guest bloggers. Here is one from Ruven 77 Today a friend sent me a link to an Op-Ed in the Atlanta Journal-Constitution, by Bob Barr, regarding the case of Sholom Rubashkin, a kosher …