“We held 40% of the outstanding dealer holdings of treasuries one month,” admitted the founder/CIO of one of the world’s biggest hedge funds, in a tone that combined pride, amazement, and concern. “The street is stepping away from making markets, spreads are widening, liquidity’s disappearing.” So he’s hiring flow traders to fill that void. “When rates inevitably go higher there will be no one to buy — 10yr bon

“Vive la France!” chanted the rapturous crowd. Dancing. Singing. And emerging from the shadow of a monument commemorating Mali’s independence from France, Hollande took the podium, promising to stay as long as necessary. To free Timbuktu. From the ruthless grip of a radical minority. An austere sect. Unwilling to compromise. And with that commitment made, Francois jetted home. To lash out at the faceless, ruthless mi

Hope all goes well. Santa Barbara film festival continues. And Daniel Day-Lewis arrived. To discuss Lincoln. For which he’ll win an unprecedented 3rd Oscar for Best Actor. Yet despite such towering talent, he rarely takes a role. So the soft-spoken artist explained, “There is a right a time for everything, for a film to be made, for a writer to write, a director to direct, and for me, there’s a right time for me to a

Duck dude! They’re freakin’ everywhere. Rockets that is. South Korea launched their first satellite. Into space. To look back down. Onto Earth. Where 300 dusty dongs remain pointed at Seoul. And with so many rockets swirling round the Sea of Japan, Tokyo’s sleepy Samurai boosted defense spending for the first time in 11yrs (while reducing the overall budget for the first time in 7yrs). Of course, the Ayatollah launch

“You know what impressed me most?” I asked Jackson, my 11yr-old, tears welling up in his eyes, unable to speak, as we sat in the car, looking across the empty field. “You played hard, kept your cool under pressure, and even in those couple games when you guys had no hope, you never lost yours.” He plays goalie. Very well. And got pulled up in post-season play, to scrimmage with older kids. A few of whom hiss insults

Overall: “Jose can you see?” she asked her child, by dawns early light, filled with Hope, excited for the show. Beyonce opened. Obama closed. Broad stripes and bright stars gallantly streamed. The crowd went wild. Of course, some gifted lyricist wrote Obama’s song. Beyonce lip-synced hers – and the media went berserk. You see, now that we’ve extended our debt limit to May 19, cut unemployment claims to 5yr lows

“Fair enough, he had a point, guess I deserved it,” said my buddy, over a beer. “I’d been calling for the move, and well, just missed it,” admitted the CIO, humbly. You see, one of his investors had just called, pretty upset. Which is to be expected. After all, he gets well paid to get it right. We all do. “I quite like speaking with investors about what I’m thinking, but here’s the thing, I look at 200 markets, each

Hope all goes well. Ben Affleck arrived in Santa Barbara. For our famous film festival. And told great stories. Of his bumpy rise. The Bennifer years. That Pearl Harbor bomb. His retreat. Comeback. Directorial debut. And now today’s triumph – Argo. Anyhow, the audience asked how, from such a tough spot, he’d found the confidence to strike out on his own. Ben smiled, remembering the moment, “You know, Warren Bea

Aussie’s been real busy mining iron ore. Coal too. Boosting GDP to $1.4trln. Shipping it to hungry Chinese mills. And of course, those lucky blokes discovered natural gas. Gonna be exporting more than Qatar within 5yrs. But Australia only has 3.9bln barrels of proven oil reserves (0.2% of Earth’s total). So they import it. For now anyway. You see, they just discovered 233bln barrels. Embedded in rock. Worth trillions

Bernanke taped his wrists. Clapped his chalky hands. Grabbed the bar. Squatted. Grimaced. Grunted. And behold, the weight slowly rose. A record $3trln balance sheet (vs just $924bln when Lehman fulded). Ben’s adding $85bln/mth. Go Bro! And oh my, hedge funds bought 24% of the $3.3bln Portuguese 5yr auction (at 4.89% vs 23% in Jan ’12). Heave ho! But now it’s time for Merkel to score some PED’s. You see, Angie just lo