• In a rare display of high-mindedness and bipartisanship last week, the U.S. Senate was able to hurriedly pass the Helium Bill by a 97-2 vote. Citing the urgent need to avoid harming the industry and disrupting national security programs, this normally divided institution was able to put party lines aside and do the right thing for the country.

    As much as party clowns and computer chip makers will now be able to carry on with business as usual, the same group of lawmakers that got fired up enough to preserve this invisible gas is about to sit back and watch as the economy runs aground and the Federal government grinds to a halt.

    In the attached video, our esteemed panel of guests, including RBS senior economist Michelle Girard, KKM Financial's Jeff Kilburg, Zachary Karabell of River Twice Research, and my Yahoo Finance colleagues Jeff Macke and Aaron Task, debate the tactics and likelihood that once again an 11th hour deal will be reached.

    Or is it different this time?

    Related: Bernanke Confuses Wall Street by Sticking Exactly to His Plan

    For one, this is the last shot conservatives have to defund Obamacare, even though more than 40 previous attempts to do so this year by the Republican-led House of Representatives have already been shot down by the Democratic-led Senate.

    Secondly, as Zachary Karabell points out, there is "an eternal revolutionary zeal" within the most conservative parts of the Republican party that believes "you have to blow up the system in order to create a more pure one." To that extent, he thinks it is "very much in their interest to push it to the brink."

    Read More »from DC Budget Showdown: Ugly, Familiar, Avoidable
  • They allowed just 28 points in their final nine games, and even held their opponents scoreless in five of them. It's a feat that has not only earned the 1976 Pittsburgh Steelers and their "Steel Curtain" line the honor of being called the greatest defense ever, but one that is not likely to be matched anytime soon. It won't be replicated on the football field or on Wall Street, where Doug Cote, chief market strategist at ING U.S. Investment Management, says being too defensive is the riskiest trade of all.

    "The defensive trade, (cash, gold, bonds) has been a disaster for investors," he says in the attached video, "while the riskiest trade (equities) has actually been the safe trade."

    For those who think this risk-on trend is overdue for a reversal, Cote disagrees, and points to the fact that diversified portfolios split 60-40 between stocks and bonds are up about 3.3% through August, while the portfolio that's 100% invested in bonds is down about 4%.

    "That's a 700 basis point spread and we think that continues" he says, noting that it is continuing so far in September.

    Read More »from Safe Havens Are Now Riskiest Trade in the Market: Cote
  • What a week. One lucky soul in South Carolina wins $400 million on Powerball, while a separate suffering soul has to fork over $920 million for essentially being a bad trader.

    If the former is a story of sheer dumb luck, the latter could be seen more as a matter of karma in as much as the nation's leading lender looks to be stuck in perpetual defense mode. For each case or misdeed that JPMorgan settles, another one seems to takes its spot in the cue.

    It boils down to this, as my co-host Jeff Macke and I discuss in the attached video, if 18-months, a billion dollars in fines, six billion in losses, and a basket full of apologies isn't enough to get the man off your back, what is?

    Related: Americans Sacrificing Freedom to Avoid Another Meltdown

    The answer to many people is "nothing."

    It's becoming increasingly clear that, try as they might to shed it, the nation's largest lenders are effectively walking around with bulls-eyes on their backs and that any tin horn regulator from dozens of different jurisdictions (state, Federal and international) can threaten to haul them into court and probably reach a settlement along the way.

    Read More »from Is JPMorgan Stuck in Perpetual Defense Mode?
  • Apple iPhone Sales Are Golden

    Score one for Apple (AAPL) fans! In a burst of enthusiasm that seemed unthinkable just weeks ago, customers are lining up at Apple stores worldwide in hopes of being among the first to buy the latest iterations of the iPhone. Despite initial skepticism to the new 5C and 5S iPhones, the hands-on reviews have been glowing and the consumer frenzy is on.

    No one doubted Apple's ability to build a great high-end product. The question was whether the iPhone 5S's faster processing speed, improved camera and thumb-print security would be enough to create another buying frenzy.

    The answer is a qualified yes. I stopped to speak with the folks camped out in front of the Apple store in New York's Grand Central Terminal this morning. The overwhelming consensus is that the most exciting feature of the 5S isn't the internal technical specifications, but the color of the case.

    "It's all about the gold!" shouted a shopper near the front of the line who asked to remain nameless because they said "I'm going to be late for work." He wasn't alone. The iPhone 5S is the first new edition of an Apple smartphone to be offered in a distinctive gold color along with the more traditional black ("space gray" in Apple speak) or silver versions.

    On Apple's website the gold version was the first to be back-ordered. Buyers were informed they could get the gold "in October" compared to delivery in seven to ten days for the less ostentatious versions. By 10am/EST delivery for all three versions of the iPhone 5S was delayed until next month.

    "This iPhone is a category killer!" says Todd Schoenberger, an Apple shareholder and managing partner at LandColt Capital, in the attached video. "It's setting the tone for mobile commerce. You're going to be able to go to your fancy phone and buy whatever you want with your fingerprint."

    Read More »from Apple iPhone Sales Are Golden

Pagination

(2,719 Stories)

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