Category: C.M.O.

C.M.O. 3.6.2009

Credit Market OverviewMarch 6, 2009 I have heard the current malaise described as the “Great Recession” and a “Contained Depression”. Both of these terms hesitate to put the current socio/economic environment into the same category as the Great Depression and…

C.M.O. 3.5.2009

Credit Market OverviewMarch 5, 2009 Do you remember those word problems in math class: A car is traveling west at 30 mph. Another car is traveling east at 20mph . . . etc. OK, so keep channeling your grade school…

C.M.O. 3.4.2009

Credit Market OverviewMarch 4, 2009 After declaring GE’s dividend sacrosanct Jeffrey Immelt’s recent reversal begged of episodes that have become all too common since stocks peaked in October of 2007. (How different did things look back then?!). Members of the…

C.M.O. 3.3.2009

Credit Market OverviewMarch 3, 2009 Although this Nation’s financial brainiacs have created enough toxic assets to virtually sink the world’s economy, the U.S.A. has long stood as a symbol of capitalism in one of its purest forms. In a perverse…

C.M.O. 3.2.2009

Credit Market OverviewMarch 2, 2009 There seems to be one thing that still has value on Wall St. and that is scarcity. Chevron (CVX) and Abbott Labs (ABT) took advantage of the infrequency with which they issue debt to tap…

C.M.O. 2.27.2009

Credit Market OverviewFebruary 27 2009I have offered in this space recently historical evidence of how fiscal stimulus is not the right prescription to bring the economy out of its current malaise by quoting FDR’s Treasury Secretary, Henry Morgenthau’s dairy entries…

C.M.O. 2.26.2009

Credit Market OverviewFebruary 26 2009Robert Rodriguez, CEO of First Pacific Advisors, stated during a Barron’s interview recently that his investment mantra was: “Winning by not losing.” True to his word RR had up to 45% of his main fund in…

C.M.O. 2.25.2009

Credit Market OverviewFebruary 25 2009 It was good to have things back to normal yesterday. Consumer Confidence, projected at a lofty 35 came in just 10 points below at 25; S&P cut Latvia’s credit rating to BB+ putting it in…

C.M.O. 2.24.2009

Credit Market OverviewFebruary 24 2009 I read somewhere recently that people in government don’t spend much, if any, time gathering information from the media as the information they do process comes from more selective sources through established channels. I can…

C.M.O. 2.23.2009

Credit Market OverviewFebruary 23 2009For anyone who is not a Citibank customer it is now cheaper to buy the stock than get cash through one of their ATM’s. Citigroup (C) closed at $1.95 on Friday, the non-customer access charge for…