In the market’s never-ending race, it’s fascinating to watch relay batons passed from one year to the next. This wk the 2010 fear that PIIGS would sink and the EU disintegrate was passed to a new concern, the threat of higher global interest rates (strong statements by Merkel, Sarkozy and Trichet, combined with confidence the EFSF will be preemptively doubled, led to an upgrade by traders/strategists for the Euro’s i

Hope all goes well. Great trip to London/Paris. Packed planes, hopping cities and rising prices. London tabloids, radio and tube chatter are dominated by “unchecked” inflation. Seems that Mayfair hedge fund managers are the only altruistic citizens not hiking prices in London. Overall: In the market’s never-ending race, it’s fascinating to watch relay batons passed from one year to the next. This wk the 2010 fear tha

20yrs ago I crossed paths with a brilliant contemporary, figured we were headed in different directions. How naïve. We liked playing games: his mortal, mine money. But the older you get, the more you discover that lives and cash are fungible in the game of global politics/economics. As a young man, he earned a PhD that made Defense Ministers want him, then developed the experience, poise and rolodex that made aerospa

What a show! Leaders lined up with the kinda enthusiasm usually found at a Radio City Rockette audition. Germany’s Merkel, legs kickin’ high, “We support whatever is needed to support the Euro.” France’s Sarky, arm locked with Angela, “With Ms. Merkel, we will reinforce EU economic integration.” ECB’s Trichet, flashing a petticoat made from E98bln of newly purchased peripheral debt, said the stability fund should be

Hope all goes well. Interesting wk and a prelude to the coming year of push & pull between mkts and politicians. Not easy to trade that kinda action, but when the elected boys get involved, they waste all kinds of money. Hope to pick some of it up. I’m off to London and Paris. Overall: What a show! Leaders lined up with the kinda enthusiasm usually found at a Radio City Rockette audition. Germany’s Merkel, legs k

Pretty much everything I learned about climbing mountains, I learned from Vincent Ravanel. He’s 7th generation high altitude mountain guide from Argentiere, France. And from father to son, the Ravanel’s passed a simple mantra: “The Mountain never ends.” And like most things profound, it touches on something universal and fundamental. Cause climbing mountains, physical and metaphorical, is what

Perry’s a baseball fanatic. And it’s springtime, so when the NY closing bell rings, he trades his Bloomberg for a bat and ball. Hops in a Ford 150, tunes into baseball talk-radio, hits the diamond. Perry fell in love at age 6, “By 8 I was coaching my coach – drove him nuts.” And sure, plenty of kids fall in love early, marry a team – but Perry’s got no favorite, couldn’t care less who wins, who loses. That’s the trad

Politicians, central bankers, strategists and portfolio mgrs announced New Year’s resolutions. Obama resolved to end his love affair with the left and snuggle up to corporate USA. First off he Volkered Volker (Paul got booted as Chair of the Presidential Advisory Board). Wall Street strategists, pledging to grow bullish balls, rushed to upgrade GDP and S&P forecasts. Goldman raised S&P 500 yr-end target to 1,

Hope all goes well. Great to flip the calendar. Too often, guys pile into their favorite trades in the first 2wks of Jan only to puke ‘em out by the 31st, so kept mostly to the sidelines, pricing structures and laying in wait. Keepin’ powder dry. Overall: Politicians, central bankers, strategists and portfolio mgrs announced New Year’s resolutions. Obama resolved to end his love affair with the left and snuggle

Had an unreal Christmas & New Years, hope you did too. Couldn’t help but keep a lazy eye on mkts. NY’s blizzard sealed the few surviving bears deep in their caves, not sure they even got news that China hiked rates, then again, with GDP close to 10% and negative real rates, what’s 25bps? The US economy looked perky, Chicago PMI hit 20yr highs and unemployment claims plunged. Merkel stated, “We must strengthen the