Lloyd Blankfein in FT
posted 623 weeks ago on CrossingWallStreet.com
Here's a sample of Lloyd Blankfein in today's Financial Times:
As policymakers and regulators begin to consider the regulatory actions to be taken to address the failings, I believe it is useful to reflect on some of the lessons from this crisis.
The first is that risk management should not be entirely predicated on historical data. In the past several months, we have heard the phrase ?multiple standard deviation events? more than a few times. If events that were calculated to occur once in 20 years in fact occurred much more regularly, it does not take a mathematician to figure out that risk management assumptions did not reflect the distribution of the actual outcomes. Our industry must do more to enhance and improve scenario analysis and stress testing.
Second, too many financial ins
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Queen Mary, comic for the ages
posted 624 weeks ago on NakedShorts
Mary Schapiro gave her first speech as chairman of the US Securities and Exchange Commission in Washington DC today, stepping out as quite the cut-up at the Practicing Law Institute?s 2009 ?SEC Speaks? conference. Thank you for that kind introduction,...
The Jerk Rally for Friday, Unemployment hits 7.6%
posted 624 weeks ago on The StockMasters - Financial News, Stock Market Trading, the Best Stocks fo
U.S. Jobs losses are out of control, 598,000 vanished in January pushing the unemployment rate to 7.6%. Yet today the market bucked the trend and the Dow, S&P 500, and Nasdaq all finshed up 2%+. So what if you're broke, the market went up, but if you don't have the money to play it, it hurts Navin R. Johnson style.
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Mapping Bernie's Victims
posted 624 weeks ago on CrossingWallStreet.com
Zero Hedge has some great maps showing where Bernie Madoff's victims are. Why is it always the rich people who have all the money?