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’Greed & Fear and David Stockman on where it all went wrong
CLSA’s Christopher Wood in an extra edition of his weekly Greed & Fear newsletter highlights a timely criticism of the US approach to fixing the financial system by David Stockman, Ronald Reagan’s former director of the Office of Management and Budget.
[Greed & Fear] Avoid panic, take a long-term view
Logic and chart patterns suggest to CLSA’s Christopher Wood some near-term respite in the markets after recent partial capitulation — though in his view, it will be a radically different market from now on,
[Greed & Fear] Can an old trade work new tricks?
It is another year, and investors naturally worry whether last year’s successful trade can work, notes CLSA’s Christopher Wood in the latest issue of his client newsletter, Greed & Fear.
Wood’s view is still that it makes sense to remain long Asia and emerging markets and short Western financials,
[Greed & Fear] Greed & Fear: And you think America has problems…
CLSA’s Christopher Wood is underwhelmed by President Bush’s plan to freeze subprime home rates. US policymakers led by Hank “the Hunk” Paulson are clearly reacting to the political need to be seen to be doing something as the housing mess intensifies,
[Greed & Fear] Buy gold, avoid ‘structured excreta’
While there are still lots of pundits talking stagflation and the like, the reality is that market action grows ever more deflationary, prompting CLSA’s Christopher Wood to put out a mid-week edition of his newsletter Greed & Fear.
[Greed & Fear] And another new subprime celebrity…
Financial meltdown, while painful, can be good for your career. Look at Minsky, the new economist du jour, who commentators the world over are fighting over to claim as their own.
Now the subprime debacle seems to be creating another celebrity in the form of Alphaville favourite Christopher Wood.
[Greed & Fear] On the potential for panic
An asset class called “credit”, which was largely the creation of the past six years, has begun to blow up, says CLSA’s Christopher Wood in his client newsletter Greed & Fear. In Wood’s view, “this asset class is now in the process of self-destruction as the whole edifice of structured finance is completely discredited,
[Greed & Fear] Don’t worry, more bad news is on the way
The first sign of weakness in commodities this week is evidence that markets have begun to think about economic weakness as a potential consequence of the escalating distress in the world of credit, says CLSA’s Christopher Wood in a particularly sweeping issue of his client newsletter,
[Greed & Fear] On the end of securitisation and the looming sell-off
It’s the 10th anniversary of the onset of the Asian crisis this week and the world has turned almost full circle, says CLSA’s Christopher Wood in his latest Greed & Fear client newsletter. In his usual neat way of putting things,
So where is the US economy going?
He is no longer Fed governor but Alan Greenspan, now a highly prized commodity on the international conference circuit, still attracts eager audiences. On Friday he became the latest to weigh in on the US economic debate,