Wall Street & Markets

For the stock market, is it 1982 or 1974?

Barry Ritholtz asks the big question for stock market investors:

In terms of historical analogies, investors should be asking themselves: Is this move more like 1982 or 1974?

It’s gotta be 1974. Late that year, the stock market began to bounce back from the collapse of 1973-1974. It topped out in late 1976, then spent the next six years …

So where would you rather put your money, in hedge funds or in GE and GM?

Orin Kramer, the chairman of the board that oversees New Jersey’s public pension system (and himself a hedge fund manager), says he got a call from a reporter a while back asking him whether pension fund managers could ever be expected to “understand hedge funds in the way they do GM or GE.” That got a little bit of a laugh from the …

The end of independent research on Wall Street

Remember how during our last Wall Street dust-up (way back in 2001/2002) we made 12 investment banks pay nearly half-a-billion dollars to fund independent stock research? They were then to pass along this research to their brokers and individual customers to go with their own  (ostensibly deeply conflicted) opinions of companies.

That …

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