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Daily Archives: November 27, 2012
Greece achieves next step towards direct debt forgiveness
The necessary process of knocking off zeros and admitting bad debts took another step toward admission today. This is progress for Greece. But the repricing of bank assets to reflect this reality on their balance sheet has further to go. … Continue reading
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Chinese stocks beckoning world markets lower
As we have been noting all year, Chinese stocks remain in the midst of a cyclical downturn, last night closing below the psychological 2,000 level at 1991, down 10% year to date–the lowest close since October 2008 and just 15% … Continue reading
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The money quote
Yesterday I was doing a media interview where I repeated the self-evident truth that in order to be a valuable risk manager one needs to have measurement tools, execution discipline and allocation flexibility that allows us to constantly measure price … Continue reading
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