Video-o-rama: The road to recovery

Video-o-rama: The road to recovery

Video footage this week centered around the G20 meeting, the FASB’s decision to relax mark-to-market accounting rules, the Detroit drama, the Geithner plan to remove toxic assets from banks’ balance sheets, and the staying power of the nascent stock market rally.

As investors’ start regaining their risk appetite and increasingly look past the “valley”, the Dow Jones Industrial Average seems to be on track to record its best four-week winning streak since 1933.

Commentators featured on camera in this post include Timothy Geithner, Nouriel Roubini, Nassim Taleb, Wilbur Ross, Bill Gross, Rob Arnott and Frank Holmes.

The selection below kicks off with a real gem, “Geithner Plan II – let’s go to the chalkboard”, and ends with another of Paddy Hirsch’s “back-to-basics” lectures, this time on leveraging and deleveraging.

YouTube: Geithner Plan II – let’s go to the chalkboard
Khan Academy, a ‘not-for-profit organization with the mission of providing a high quality education to anyone, anywhere’, has posted a great ‘chalkboard’ commentary on YouTube covering the latest Treasury Department rescue plan and how banks could use it to scam the taxpayers.”

Source: Charleston Voice (via YouTube), March 23, 2009.

Bloomberg: Geithner sees “encouraging signs” in financial markets
“US Treasury Secretary Timothy Geithner talks with Bloomberg’s Peter Cook about the prospects for financial markets and the response of global policy makers to the current crisis. Geithner, speaking in London, also discusses the outlook for consensus among leaders attending the G-20 summit on economic stimulus and global financial standards, restructuring of General Motors and Chrysler, and new programs designed to attract private investment to help clean up banks’ balance sheets.”

Source: Bloomberg, April 1, 2009.

Yahoo Finance: Geithner plan good for some banks, says Roubini
“Tim Geithner’s plan to get toxic assets off bank balance sheets should help strengthen solvent financial institutions, Nouriel Roubini of RGE Monitor says. But banks that fail stress tests (a.k.a. insolvent ones) should be seized, restructured, and sold.”

Source: Yahoo Finance, March 31, 2009.

Bloomberg: Taleb says Geithner bank plan is too limited, will fail
“Nassim Nicholas Taleb, author of the best-selling finance book ‘The Black Swan: The Impact of the Highly Improbable’, talks with Bloomberg’s Erik Schatzker about US Treasury Secretary Timothy Geithner’s plan to remove toxic assets from bank balance sheets. Taleb, who also advises Universa Investments, also comments on the Group of 20 nations meeting in London and the outlook for financial regulation.”

Source: Bloomberg, April 1, 2009.

CNBC: Obama’s auto viablity plan
“President Barack Obama announces his administration’s plan to aid the automakers.”

Source: CNBC, March 30, 2009.

The Wall Street Journal: Dissecting GM’s press conference
“Dow Jones Newswires automotive reporters Jeff Bennett and Sharon Terlep discuss incoming GM CEO Fritz Henderson’s press conference.”

Source: The Wall Street Journal, March 31, 2008.

CNBC: Wilbur Ross’ forecast – the future of Detroit
“Fritz Henderson is a good choice to lead GM and the financing of dealers has yet to be addressed, says Wilbur Ross, WL Ross & Co. chairman/CEO, with Mike Jackson, AutoNation CEO.

Source: CNBC, April 1, 2009.

CNBC: President Obama’s G20 statement
“President Barack Obama discusses the G20 meetings.”
Part 1

Part 2

Source: CNBC, April 2, 2009.

CNBC: One-on-one with Soros
“Discussing new promises to increase spending in emerging economies, with George Soros, Soros Fund Management and CNBC’s Maria Bartiromo.”

Source: CNBC, April 2, 2009.

CNBC: OECD sees global trade falling 13%
“On the eve of the G20 summit, the OECD warned that global trade will fall by over 13% this year and that its members will see a 4% contraction in growth domestic product. Klaus Schmidt-Hebbel from the OECD discusses the gloomy outlook.”

Source: CNBC, March 31, 2009.

CNBC: Roubini’s read on the recession
“The solutions and government interventions that need to be tackled in order to take the economy and financial system off of life support, with Nouriel Roubini, RGE Monitor chairman/NYU Stern School of Business professor, and Arianna Huffington, Huffington Post.”

Source: CNBC, March 31, 2009.

The Wall Street Journal: Finding a bottom for home prices
“David Berson, chief economist of PMI Group, talks to MarketWatch’s Stacey Delo about how the housing market will rebound before jobs do, and why he expects home prices to bottom for most of the US in early 2010.”

Source: The Wall Street Journal, April 1, 2009.

John Authers (Financial Times): Housing hopes
“The falling ratio of prices to rents coupled with recent data showing that house sales have at least stopped slowing down suggests that an end to the precipitous fall in US house prices may be in sight, says John Authers.”

Click here for the article.

Source: John Authers, Financial Times, March 31, 2009.

The New York Times: The new hard times
“Ernest Kurnow, a 96-year-old business school professor at New York University, finished his own schooling in the middle of the Great Depression. Now his current students are faced with finding a job in the floundering world of finance after graduation.”

Source: The New York Times, March 27, 2009.

CNBC: Gross talks bonds
“Bond holders are still negotiating and hoping, with William Gross, Pimco, and CNBC’s Erin Burnett.”

Source: CNBC, March 31, 2009.

Bloomberg: Robert Arnott sees “big opportunity” in high-yield debt
“Robert Arnott, who oversees more than $30 billion at Research Affiliates LLC, talks with Bloomberg’s Julie Hyman about investment opportunity in high-yield debt. Arnott, speaking from Irvine, California, also discusses the outlook for the US stock and bond markets, and how potential Federal Reserve purchase of long-term Treasuries may affect credit markets.”

Source: Bloomberg, April , 2009.

John Authers (Financial Times): Equities – happy days
“The S&P, the world’s most tracked index, traded above its 100-day moving average – the average of prices for the previous 100 trading days – for the first time since May last year, says John Authers.”

Click here for the article.

Source: John Authers, Financial Times, April 2, 2009.

The Wall Street Journal: In like a bear, out like a bull
“Barron’s Bob O’Brien says that after the S&P 500 fell to a 12-year low on March 9, it then experienced a V-shaped recovery shooting 23% off the March lows. Is this a true rally with staying power, or is the data a fake to the head?”

Source: The Wall Street Journal, March 27, 2009.

The Wall Street Journal: Why are Wall Street observers interested in 1938?
“Barron’s Mike Santoli discusses similarities between the market of 1938 during the Roosevelt Administration and the market of 2009 during the Obama Administration.”

Source: The Wall Street Journal, March 30, 2008.

Financial Times: V Anantha-Nageswaran on dollar’s decline
“VA, chief investment officer of Bank Julius Baer, the Swiss private bank, believes the dollar’s days as the world’s reserve currency are numbered.”

Source: Financial Times, March 30, 2009.

Bloomberg: Frank Holmes says “odds favor” oil prices rising to $65
“Frank Holmes, chief executive officer of US Global Investors, talks with Bloomberg’s Pimm Fox about the outlook for oil, gold and commodity prices. Holmes also discusses mark-to-market accounting and his investment picks of San Juan Basin Royalty Trust and AngloGold Ashanti Ltd.”

Source: Bloomberg, March 31, 2009.

YouTube: Chris Powell – requesting gold audit
“Chris Powell appeared on the Fox News program ‘America’s Newsroom’ today, to discuss GATA’s request for an audit of the gold in Fort Knox, and the gold suppression scheme.”

Source: Fox News (via YouTube), March 31, 2009.

CNBC: CLSA – China’s PMI falls to 44.8
“According to CLSA, China’s March PMI fell to 44.8 from 45.1 in February. Eric Fishwick, head of economic research at CLSA explains to CNBC’s Amanda Drury what this means for the Chinese economy.”

Source: CNBC, April 1, 2009.

CNBC: Japan output falls
“Japan’s industrial output falls in February for the fifth straight month but signs of a rebound emerge. Susumu Kato, chief economist & strategist at Calyon Capital Markets shares his outlook for the economy, with CNBC’s Chloe Cho.”

Source: CNBC, March 30, 2009.

Marketplace: Leveraging and deleveraging
“Leveraging – or borrowing – has been cited as one of the contributors to the financial crisis. Senior Editor Paddy Hirsch explains how the move to deleverage – or reduce debt – is prompting wild market swings and concerns about deflation.”

Source: Marketplace (via Vimeo), December 2008.


Did you enjoy this post? If so, click here to subscribe to updates to Investment Postcards from Cape Town by e-mail.


Print Friendly, PDF & Email

Posted Under