A comment from Tom Lawler on Household Estimates; Thursday: Unemployment Claims, Q2 GDP (2nd estimate), Pending Home Sales

CR Note: Many analysts and reporters use Census data to estimate ongoing household formation. They are ignoring severe problems with the Census estimates ... from housing economist Tom Lawler: For well over a decade I have been trying to get Census to explain the widely different estimates of households from different surveys. In a 2004… Read More..

Forex Plays

Judging by the participation in the comment section you guys aren’t amused by today’s tape and I can’t really blame you. So let’s mosey over to the Forex side as it’s looking a lot more tantalizing. The Dollar is taking it on the chin today and the DX is now back at the 100-hour SMA… Read More

Meet ICREACH: The NSA’s Own Secret “Google”

Authored by Ryan Gallagher, originally posted at The Intercept, The National Security Agency is secretly providing data to nearly two dozen U.S. government agencies with a “Google-like” search engine built to share more than 850 billion records about phone calls, emails, cellphone locations, and internet chats, according to classified documents obtained by The Intercept. The… Read More

Activist hedge fund billionaire Bill Ackman is winning, surprisingly

Wall Street observers shouldn’t be faulted for betting against Bill Ackman. After all, it hasn’t been a good few months for him. His takedown of nutritional supplement company Herbalife resulted in the shares of the company soaring more than 25%, and two weeks ago the Wall Street Journal reported that the Securities and Exchange Commission is looking into… Read More

My Experience With AirBNB in Hawaii

Many of you may have heard about AirBNB by now. For those who hasn’t, it is a website that essentially allow anyone to rent their room/house to others, mainly travelers, for a short period of time. It caught on quite quickly and it has been making a challenge for the hotel industry. I think it… Read More

The story behind the shrinking ranks of Goldman partners

It’s one of the most exclusive and coveted clubs in banking, and admission is getting even harder. The Wall Street Journal reports that Goldman Sachs is going to promote fewer of its top executives to the vaunted ranks of partnership (paywall). Goldman partners represent the investment banks creme de la creme. The firm selects partners every… Read More

Creepy Mission: Obama “Lays Groundwork For Air Strikes” In Syria Next

What's the opposite of 'limited' air-strikes? As The WSJ reports, The Pentagon is preparing to send surveillance aircraft, including drones, into Syrian airspace to gather intelligence on Islamist targets, laying the groundwork for a possible expansion of the limited U.S. military air campaign beyond Iraq, senior U.S. officials said. The 'Nobel-Peace-Prize-Winner-In-Chief' appears to have suddenly… Read More

The wallets of London’s hedge fund stars have gotten decidedly lighter

The hedge fund high life is not what it used to be in London. That’s the takeaway from hedge fund research firm Emolument.com, which tells us that London-based hedge fund honchos are getting paid 55% less on average than they were two years ago. Average total pay at London hedge funds is £120,000 ($ 200,000) now, compared… Read More

4 Proven Ways That You Can Get A Loan To Flip Houses

Nearly everybody I talk to says that “money” is the number one issue that prevents them from getting started flipping houses. I get this question all the time. Thousands of people have asked me this in fact through meetups, REIA meetings, on the BP forum here as well as well as my own personal email list… Read More

No, the US government hasn’t forgotten about Countrywide founder Angelo Mozilo

It turns out Angelo Mozilo is not yet in the clear with the US government, which reportedly is preparing a new lawsuit against the architect of the behemoth US mortgage firm Countrywide Financial for his role in the housing collapse, Bloomberg reports. This is significant news. Regulators have long been criticized for failing to hold individual… Read More

The market thinks Bank of America’s mortgage nightmare is almost over

Is the worst behind Bank of America? Its shareholders seem to think so. The bank’s stock is up nearly 2% today, after it announced a long-awaited settlement over a US government probe into its mortgage practices. The $ 16.65 billion settlement is the US’s largest ever civil penalty leveled against a single corporation. It eclipses a similar $ 13 billion mortgage-related settlement JPMorgan Chase struck… Read More

When Things are Going Bad is When You Find Out What What Your Made Of!

Let me start out by saying, things are not bad for me. Many people are in much worse situations and have had much more serious problems.  No matter where we are in life or how successful we are, we all have problems and things don’t always go as planned.  I have been writing a lot… Read More

Global bank bond offerings are at their highest levels since 2009

Large financial institutions such as Bank of America are increasingly loading up on bonds to fund themselves. As it stands now, banks globally have sold some $ 764 billion in bonds through Aug. 21–36% more than the $ 562 billion in bonds sold by this point last year. That’s the highest amount in bonds issued since 2009, when banks shopped a record… Read More

The 10 Best Real Estate Investments for Smart Real Estate Investors

“Mom… which one of us kids is your favorite?” Admit it – if you have siblings, you probably asked that question of your mom at least once growing up. If you didn’t, you probably wanted to.  It’s a natural question for a child to ask because it plays off our competitive nature. We want to… Read More

Irrational Escalation

This is the first article in a series on cognitive biases. As human beings we seem to have access to an almost inexhaustible supply of them. So let’s cover some the biggest culprits here, in particular the ones who stand in the way of us acquiring our ill-gotten gains in the financial markets. Today’s topic is the sunk… Read More