players

Global power continues to shift. Dilma Rousseff, former Marxist guerilla and now Brazil’s first female President, spoke with Obama and discussed US unemployment. She called to end “Currency Wars”, pledged fiscal conservatism – S&P/Fitch will consider an upgrade. Obama lost mid-terms, sold Saudi’s $60bln of weapons, had the boys warm up Air Force One and jetted off to Asia. Korea’s FX reserves hit new highs

Got a call the night before midterm elections. A sensual voice urged me to vote for Prop 19. I got no other calls that night so it musta been a real high political priority, right? The temptress informed me approval will, “Legalize Marijuana, help our police regulate it like alcohol, protect our children from uncontrolled substances (hilarious!), and raise billions in new taxes.” Hmmm… It’s fascinating to watch peopl

Hope all goes well. What a fascinating week. Spent it here in CA watching mkts obsess over elections, printing presses and employment reports. Overall: Global power continues to shift. Dilma Rousseff, former Marxist guerilla and now Brazil’s first female President, spoke with Obama and discussed US unemployment. She called to end “Currency Wars”, pledged fiscal conservatism – S&P/Fitch will consider an upgr

My Ford Bronco was built in 1971, 2yrs after Armstrong stepped on the moon, lifted by basic computing and raw ambition. It’s got no power brakes, no power steering, and 8 cylinders that guzzle gas and shake the neighborhood. So when I fire her up, I’m reminded how technology has advanced, and how that advance has accelerated. Moore’s Law (the number of transistors we can put on a computer chip doubles every 2yrs) has

Hope all goes well. Spent an interesting few days in London. Uncertainty about the direction of mkts and the world economy persists. Flows in our industry are warming up. Overall: The G20 called for a truce in FX mkts and offensive operations ceased. The generals surveyed the field, stocked up on supplies: bought insurance (VIX +13%); food (corn +4%); and Gold (+2.5%). Stocks & Dollars were quiet/stable as foot s

The G20 called for a truce in FX mkts and offensive operations ceased. The generals surveyed the field, stocked up on supplies: bought insurance (VIX +13%); food (corn +4%); and Gold (+2.5%). Stocks & Dollars were quiet/stable as foot soldiers, safe in foxholes, spent more time debating QE2 than fingering buy/sell triggers. India’s Singh announced an alliance with Japan to mine rare earth metals, circumventing Ch

There’s a war in progress. The world needs a grown-up in the sandbox or kids are gonna get hurt. WTO’s Lamy tried to assume the role, lectured the children, “History will judge us harshly if our collective efforts to exit the crisis were to be frustrated by short-term rent seeking.” BOE’s King pleaded, “What is needed now is a grand bargain among the major players in the world economy.” Geithner sent a letter to G20

I rode my bike downhill, top speed, through a series of banked turns high in the mountains. It’s my favorite stretch ‘cause fast turns raise my pulse – transport me to an earlier life. As I exit the last curve, a large coyote stands motionless, directly in my path. Our eyes lock. I hold my line. He stares intently. I bark. He leaps right. And we avert a horrible crash. Oh, it happened real fast – instinct

Hope all goes well. Mkts continue to adjust to too many cooks in the FX kitchen. Heading into this weekend, knives were flying and it got pretty messy. We got cut up on some Renminbi and Brazil longs, Euro shorts hurt too – took some of our bigger risks off on Fri – G20 is a wildcard. Overall: There’s a war in progress. The world needs a grown-up in the sandbox or kids are gonna get hurt. WTO’s Lamy tried