Wednesday, 9 May 2012

The Disaster You Forgot: PORTUGAL

Portugal_real_estate

http://e.businessinsider.com/view/4f45ee0c90658cce4a9318744faa382f6763d9ba3f0000b8/fc31d755 
'Investors have been focused on Spain this morning, but there's one crisis that's still flying under the radar: Portugal... ' 

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Goldman Sachs: Stocks Have Been A Better Risk-Adjusted Investment Than Housing Since 1890

Portugal_real_estate

http://www.businessinsider.com/goldman-sachs-houses-vs-stocks-who-wins-the-long-run-sharpe-race-2012-5? 
'Goldman Sachs has been producing a lot of bullish equity research, despite chief U.S. equity strategist David Kostin's bearish view on stocks.  Last month, Goldman's Peter Oppenheimer published a massive report titled The Long Good Buy that argued stocks were insanely cheap relative to bonds.

In a new report today title Houses vs. Stocks: Who Wins the Long-Run ‘Sharpe’ Race?, Goldman's Jose Ursua argues that stocks are way better than housing on both an absolute returns basis and risk-adjusted returns basis.

One of the most common risk-adjusted returns measures is the Sharpe ratio.  Simply put, it's the excess returns divided by the standard deviation of excess returns. For long-term investments like housing or stocks, Ursua argues "What matters are risk-reward tradeoffs."

Here's a summary of his report...'

Read more: http://www.businessinsider.com/goldman-sachs-houses-vs-stocks-who-wins-the-long-run-sharpe-race-2012-5?#ixzz1uM3g7H00

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Wednesday, 2 May 2012

'Jeremy Hunt, Rupert Murdoch and UK in recession ..'

Murdoch2

  • Jeremy Hunt's office's email exchange with News Corporation dominated the news
  • Rupert Murdoch at the Leveson Inquiry, UK back in recession, and French elections were covered lots
  • PM Mark Rutte (Netherlands) resigns, PM Awn Khasawneh (Jordan) resigns and president Gilani (Pakistan) guilty of contempt covered little
Hacked Off is reporting live from the Leveson inquiry again this week via twitter @hackinginquiry and hackinginquiry.org

The Orwell Prize awards ceremony is on May 23rd. All welcome, email katriona.lewis@mediastandardstrust.org to reserve your free place

For the latest instalment of Tobias Grubbe, journalisted’s 18th century jobbing journalist, go to  journalisted.com/tobias-grubbe

Covered Lots

Covered Little

Political ups and downs (top ten by number of articles)

Celebrity vs Serious

Political zeitgeist

Eurozone leaders (top ten by number of articles)

No other Eurozone leaders were mentioned in UK press coverage.

Who wrote a lot about...the French elections

Long form journalism

Journalists who have updated their profile

Tony Barrell is a freelance journalist who has written primarily for the Times and Sunday Times since 1992. Since graduating from Crawley College in 1981 he has held several posts, including being the chief sub-editor of Architects’ Journal, Assistant editor of Traditional Homes magazine and being the chief sub-editor for the Sunday Times magazine. He has also co-authored two books, ‘The Miracle: One Musician's Amazing Struggle For Survival’ (2012), and ‘Eyes Wide Open: Photography by the Winners of the Ian Parry Scholarship’(2004). He has won the Eden Chippert award for humorous journalism (2011).

Grant Collinson is a reporter for VRL Financial News. He previously studied at the University of Glasgow (2004-2008), where he read English Literature and Glasgow Caledonian University (2010), where he completed his Masters in Multimedia Journalism. After university he went to the Herald and Times Group to be a trainee reporter. Follow him on Twitter @grantcollinson

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Monday, 30 April 2012

The Banks in Spain Fall Mainly - The Latest On Spain's Banking Disaster

Spain_bullfighter

http://www.businessinsider.com/sp-axed-the-ratings-of-11-spanish-banks-this-morning-2012-4

If you live in the U.S., then you probably missed one of the biggest headlines out this morning:

Standard & Poor's ratings agency took negative actions on 16 Spanish banks—downgrading 11 of them—following a sovereign downgrade last week to BBB+.

Here are the big changes:

Santander: A+ to A-
Banesto: A+ to A-
Santander Consumer Finance: A to BBB+
BBVA: A to BBB+
Banco Sabadell: BBB- to BB+
Ibercaja Banco: BBB to BBB-
Kutxabank: BBB to BBB+
Banca Civica: BBB- to BB+
Bankinter: BBB to BBB-
Confederación Española de Cajas de Ahorros (CECA): BBB to BBB-
BBSA: A to BBB+
La Caixa: BBB- (placed on creditwatch negative)
CaixaBank: BBB+ (placed on creditwatch negative)
Bankia: BBB- (placed on creditwatch negative)
Banco Financiero y de Ahorros S.A. (BFA): BB- (placed on creditwatch negative)
Banco Popular Espanol: BBB- (to remain on creditwatch negative)

Read more: http://www.businessinsider.com/sp-axed-the-ratings-of-11-spanish-banks-this-morning-2012-4#ixzz1tatt1US3

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Thursday, 26 April 2012

Campaign : 'Fairer Financial Services Compensation Scheme received 1,421 signatures yesterday...'

FSA - 6th Survey of the FSA's regulatory Performace 2011.pdf Download this file

http://www.moneymarketing.co.uk/1050250.article? An open letter and petition to FSA chief executive Hector Sants and Treasury financial secretary Mark Hoban generated 678 signatures calling for urgent reform of the FSCS funding model.

Yesterday’s date was chosen for the lobbying effort as Informed Choice says this is the day most interim levies are paid.

Bamford says: “Today I will be writing to Mark Hoban with a copy of the petition and all 1,421 signatures. I will also write to Hector Sants at the FSA and Mark Neale at the FSCS, to ensure they are aware of the strength of feeling over this issue.”

Investment advisers have been hit with a £60m interim FSCS levy for 2011/12, to cover the cost of firm collapses including MF Global Keydata, CF Arch cru and Wills and Co.

The campaign is calling for better categorisation of firms within the FSCS funding model.....'

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Tuesday, 24 April 2012

'USS New York makes historic transit through Straight of Gibraltar...'

Straits_of_gibraltar_and_the_p

 

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Sunday, 15 April 2012

Soros : '... weaker members EU like third world countries, over-indebted in a hard currency...'

Soros SpeechBerlin INET2012.pdf Download this file

'INET Lunch, Berlin 2012
Ever since the Crash of 2008 there has been a widespread recognition, both among economists and the general public,
that economic theory has failed. But there is no similar consensus, even among participants of this conference, on 
the nature and implications of that failure. As a sponsor of INET I am delighted because it shows that INET is open to 
widely different strands of new economic thinking. But I am not only a sponsor; I am also the proponent of an alternative 
interpretation of financial markets and today that is what I should like to talk about. 
I believe that the failure is more profound than generally recognized. It goes back to the foundations of economic 
theory. Economics tried to model itself on Newtonian physics. It sought to establish universally and timelessly...'

...


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