Archive for May 2nd, 2009

Charles Munger Wants Banks Wings Clipped

While the Oracle of Omaha was busy today extolling the soundness of his bank portfolio and generally talking his book, his alter ego, Charles Munger, was voicing some rather heavy criticism of the financial services industry. Here’s part of what he told Bloomberg: Berkshire Hathaway Inc. Vice Chairman Charles Munger, whose company is the largest private shareholder […]

Will China’s Economic Model Prevail?

Here are a couple of things that tie together and that you’re liable to hear a lot more about in the coming months and years. From the” In April, China’s purchasing managers’ index hit 53.5, its second month above the crucial 50-level and fifth successive monthly rise. Loan growth is running at 25pc annually […]

Stress Test Thoughts

Too much has been written about the bank stress tests, so I hesitate to jump into the fray. Nevertheless, I thought an article in the today made two important points that are pretty obvious but haven’t seemed to get much play. Here is what they had to say: Because of this, bank risk managers […]

Albert Gordon: Legendary Wall Street Figure Passes Away At 107

The NYT has an obituary today that recounts the life of Albert Gordon. Mr. Gordon passed away yesterday at the age of 107. He came to Wall Street from Harvard in 1925 and helped pull Kidder Peabody out of the ashes of the Crash.  He was a remarkable man. Take a moment and read about […]