Archive | February, 2011

Main Stream Media Still Doesn’t Get The Internet

28 Feb

I grew up reading Autoweek, Car & Driver, Road & Track, Motortrend ever since I was but a wee lad.  Then the internet happened.  Aside from bathroom reading, I seldom read any of these magazines anymore, nor do I visit their websites, as they’re largely klunky and generally crappy all-around.  Instead, I read websites like Jalopnik and Autoblog.  Why?

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Bill Auction Results, Updated Calendar and Fed OMO’s

28 Feb

Today’s 13 and 26 week bill auctions have been updated on the US Bond Auction Statistics page [link, GDocs]. Also I have updated the calendar with the upcoming March issuance.

Tomorrow in Fed Buyback land we have the purchase (monetization, fluffering) of the 8/15/2028 – 2/15/2041 maturities; 1.5-2.5 billion expected. The SOMA holdings sheet along with our overlay of when that particular CUSIP was auctioned for tomorrow’s operation can be found here [GDocs].

An interesting article by @The_Anal_yst caught my eye during lunch: BMW to UAW: You Suck. Must read, given the union vs. nonunion “tensions” occurring as of late.

Have a nice day,
“BW”

BMW to UAW: You Suck

28 Feb

This commercial from BMW is an awesome F*CK YOU to the UAW and all unions.  While the Big 3 were all in bankruptcy and getting federal bailouts, BMW spent a billion dollars expanding a plant in South Carolina.  Last I checked, most of these employees are non-union.  Oh yea, and BMW – a luxury automaker – is actually profitable, and still was, even during the crisis. GM, Ford, Chrysler, friends (or frenemies) of the UAW?  Saved only by the largess and questionably-legal bailout actions of the Government*.

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10 Things Wells Fargo Wants You to Ignore

28 Feb

It has been well documented that Warren Buffett is Wells Fargo’s biggest fan – and largest shareholder (through Berkshire Hathaway). In fact, in his annual letter to shareholders he states that WFC is likely to increase its dividend the most among his common stock holdings. Given that WFC cut its dividend after taking TARP money, his prediction should not come as a surprise.

Another interesting comment from the Oracle of Omaha was his take on Black-Scholes. He writes that the model “produces WILDLY inappropriate values when applied to long-dated options” (emphasis mine). Then he wryly states that he “would rather be approximately right than precisely wrong.” Continue reading

Amazing Parenting Advice From A Victim: Don’t Be a Tiger Mom!

27 Feb

Some children of so-called “Tiger Moms” grow up to be smug, arrogant, and delusional Professors at Yale.  Others run away from home before they even start college (on full scholarship, of course) to do porn.  Amy Chua is one the former.  Asia Carrera is one the latter.

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2/25 Bond Market Summary

25 Feb

Fairly quiet day, next week to round out February’s issuance, early in the week we have a couple of bill auctions. You can view the Auction Calendar/Historical Auction Stats document here.

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2/24 Bond Market Summary

24 Feb

Today was a mixed bag in terms of spreads, even given the price volatility that we’ve seen especially the last week with the Middle East situation. Today’s 7Y auction comments are here, however that took a back seat to late day rumors that a certain individual had been shot in Libya.

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