Mar 13, 2010

Daily Markets - Financial News And Opinions

Daily Markets - Financial News And Opinions

An Insider’s View Of Lehman’s Cooking

Posted: 13 Mar 2010 06:01 PM PST

Brad Hintz is currently an analyst at Sanford C. Bernstein, a division of Alliance Capital Management. In the 1990s, Hintz served as CFO of Lehman Bros.. As such, Hintz is well positioned to comment on the 'cooking’ that occurred at Lehman in the midst of the economic crisis which led to Lehman’s filing bankruptcy.

How does Hintz define Lehman’s accounting? In a word, “shenanigans.”

Take a look at a brief Bloomberg video clip to get an insider’s view of the Lehman … [visit site to read more]


New Zealand Retail Sales Driven Up By Autos

Posted: 13 Mar 2010 05:01 PM PST

New Zealand revealed stronger retail sales figures for the month of January. Headline retail sales rose 0.8% from December on a seasonally adjusted basis, beating consensus estimates for 0.5%, and better than a revised -0.4% in December. At NZ$5.54billion the result is up 3.6% year over year. Core retail sales (excluding vehicle related industries) was a little sluggish by comparison, up 0.3% month on month, and 1.6% year on year.

Drilling into the component industries, the top 3 … [visit site to read more]

Earnings Confusion

Posted: 13 Mar 2010 04:01 PM PST

The following is fairly typical of a question I have received dozens of times over the last few years:

QUESTION: Hi Carl, I have been watching your chart showing the history of the actual S&P 500 versus the expected value based on the price to earnings ratio. It shows that the s&p 500 has never ever been so overvalued compared the normal P/E range of 10 to 20, and that earnings remain low. In 2003 the earnings started to increase before the S&P 500 started up. This makes me very … [visit site to read more]

Where The Hiring Is

Posted: 13 Mar 2010 03:38 PM PST

Each month, Monster Worldwide publishes its Monster Employment Index (MEI), a “gauge of U.S. online job demand based on a real-time review of millions of employer job opportunities culled from a large representative selection of corporate career Web sites and job boards, including Monster.com.”
Although many analysts drew comfort from the fact that the long-term growth rate turned positive last month, with the index up 2 percent year-on-year, for the first time since the December 2009, … [visit site to read more]

ProShares Files For More Leveraged ETFs: China, Biotech, Real Estate, Materials

Posted: 13 Mar 2010 12:23 PM PST

ProShares, the largest issuer of leveraged and inverse ETFs, has filed for SEC approval on several additional products. The proposed funds include:

Short FTSE/Xinhua China 25 (YXI): This ETF would seek to deliver daily investment results equal to the inverse of the daily change in the FTSE/Xinhua China 25 Index. This index consists of 25 mega-cap Chinese equities, and is the basis for the largest U.S.-listed China ETF (FXI). ProShares already offers 200% and -200% ETFs based on the … [visit site to read more]

U.S. Stock Market Hits 17-Month High As Investors Become More Upbeat About Banks

Posted: 13 Mar 2010 12:01 PM PST

DailyMarkets.com (New York) - The U.S. stock markets had a strong showing this week despite mixed moves on Friday. The S&P 500 index gained 1% to 1,149.99 this week, and hit a 17-month high at 1150.24 on March 11. Since its bear-market low on March 9, 2009, it has risen an impressive 70%. The Dow climbed 0.6% to 10,624.69.

Stocks managed to rise this week even after a report showed that inflation in China rose more than expected, leading investors to think that China will raise interest … [visit site to read more]
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