StreetEYE Blog

Druce Vertes, CFA


2012: Toilet bowl or takeoff?

Some drive-by thoughts on Europe: While the LTRO takeup was larger than anticipated, the consensus seems to be the new ECB funding largely replaces old ECB funding, bank deposits that are fleeing, interbank credit and money market funding that has dried up. To the extent it signals the ECB will do everything necessary to prevent […]

Once Again, Britain stands alone

Two differing views on UK and the EC.

Unstoppable Forces, part deux

A followup to the most recent post following the latest solution from Merkozy.

Unstoppable Forces vs. Immovable Objects

Europe is heading into yet another moment of truth this week, with a Merkozy summit and a new plan, an ECB meeting and likely interest rate cut, and a full EU summit starting Friday.

Why only millionaires should play Powerball

ROCKY HILL, Conn. — Three asset managers from Connecticut’s affluent New York suburbs claimed a $254 million Powerball jackpot on Monday off a $1 ticket. Lottery tickets are generally a terrible deal in terms of expected value – the lottery pays out far less in winnings than it receives in ticket sales. It has to pay expenses […]

Margin Call – A Big Sell Out

Watched Margin Call last night on iTunes and woke up cranky. Here is a short list of things that it gets wrong about Wall Street.

Steve Jobs, 1955-2011

Steve Jobs was to tech like John Lennon was to music – changed the game, launched a new era, had vision and integrity, was an inspiration to people.

Apocalypse Now?

Larry Summers: Daniel Ellsberg drew out the lesson regarding the Vietnam War…Policymakers acted without illusion. At every juncture they made the minimum commitments necessary to avoid imminent disaster — offering optimistic rhetoric but never taking steps that even they believed offered the prospect of decisive victory. They were tragically caught in a kind of no […]

Deleveraging: A Parable

It is a slow day in a small Irish town. The rain is misting and the streets are deserted. Times are tough, everybody is in debt, and having a hard time making ends meet, let alone climbing out of debt. On this particular day a rich German drives into the town, stops at the local […]

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