Warren Buffett's 1997 Letter to Shareholders

Gary Kaminsky just mentioned this:

http://www.berkshirehathaway.com/letters/1997.html

CNBC and Michael Lewis' New Book on High Frequency Trading

Cramer and David Faber are off the mark just now in saying that Michael Lewis isn't "saying anything new."  It's the difference between eating a cake and making a cake.  Michael Lewis, interviewed at length on 60 Minutes last night, can make the cake.  He can get to the core thought that makes the complex understandable.  In this instance Cramer can only eat the cake: he has been talking about high frequency trading for years now, but he never grasped or communicated the core concept that made it understandable. Cramer said that it was closeness to wall street that won the day for the HFTers,  and that's true, but that's only a vague and a half of the story.  It's the HFTer seeing that huge order (to buy or sale), executing on part of it and then putting an order for the rest at the same or a higher price and reselling to the buyer at a higher price. 

Michael Lewis!

The greatest interview of 2012...on CNBC yesterday.

http://www.huffingtonpost.com/2012/05/03/michael-lewis-the-volcker_n_1474848.html?ref=business

Will the Market Continue...

The age-old question.


The quality of the interviewers and interviewees on CNBC is so much better than in the day.  Pisani is good at the end of the day.  Cramer is always good and when his tone of voice is a certain way, you should do what he's recommending.  His housing call nears this, although if you remember he called the bottom in June of 2010 and was wrong.  He's also not good on natural gas.

El-Erian and Bill Gross are excellent.

Looking at the TV programming at Infiniti while waiting on my car, I realize there are a lot of financial programs other than CNBC.  Same conclusion being in Manila for six weeks recently -- different versions of CNBC, plus Bloomberg.

Jimmy Rogers Interviewed by Dylan Ratigan!

http://jimrogers-investments.blogspot.com/2011/06/video-greece-is-bankrupt-protect.html

[from Wikipedia] Rogers was born in Baltimore, Maryland and raised in Demopolis, Alabama.[1][3] He started in business at the age of five by selling peanuts and by picking up empty bottles that fans left behind at baseball games. He got his first job on Wall Street, at Dominick & Dominick, after graduating with a bachelor's degree from Yale University in 1964. Rogers then acquired a second BA degree in Philosophy, Politics and Economics from Balliol College, Oxford University in 1966.


In 1970, Rogers joined Arnhold and S. Bleichroder. In 1973, Rogers co-founded the Quantum Fund with George Soros. During the following 10 years, the portfolio gained 4200% while the S&P advanced about 47%.[4] The Quantum Fund was one of the first truly international funds.

Ratigan, A Business Journalist Turned Anti-Banker - NYTimes.com

A Business Journalist Turned Anti-Banker - NYTimes.com: "Mr. Ratigan does not just have a point of view, he has a point — one that he repeats relentlessly and feverishly, sometimes with props like buckets and Monopoly money. To hear Mr. Ratigan tell it, the American people are being held hostage by a banking system that acts like a government subsidized casino. His analogy: “My mother is paying taxes to the government. The government is giving her money to the banks. The banks are gambling like they’re watching ‘Fast Money.’ But my mother didn’t sign up for that.”"

That Stupid CNBC

(c) 2010 F. Bruce Abel

One video is worth a 1000 words. Carl Quintanilla will never live this down.

http://video.uk.msn.com/watch/video/billionaire-summit-allen-stanford/3xnxjxjb

CNBC - Best 1/2 Hr I've Heard

(c) 2010 F. Bruce Abel

Best discussion, by knowledgeable, person(s), on real effect of Germany's prohibiting naked shorting. 7:30 to 8:00 am, i.e. just now. One guy especially. Host let them go. Best rapid-fire segment I've seen. With huge, huge implications.

Found a Clip That Was Not Removed -- CNBC's Fauning Interview With "Sir" Allen Stanford, Richest Man in ...

http://video.msn.com/video.aspx?mkt=en-GB&vid=c6159bf3-96d5-4cbe-962f-3aa0107c07b0

Seize the Day

I "made" $500 yesterday by picking up the phone and holding Schwab to a promise that I had wheedled out of them in February.

As readers of this blog know, I decided in January to start trading again, the investment advisers having failed. (I having failed 8 years ago myself in the "little" world I set aside for trading.)

After opening my account and trading a couple of weeks in February I saw an ad on CNBC which said anyone who is an active trader who opens an account gets 50 free trades, whereas each trade is normally $8.95.

So I called Schwab then and talked to someone who, after some skirmishing over a "slippage" matter that cost me $400, agreed to give me that 50 free trades as soon as I put the minimum $25,000 into my account.

Then I lost my notes of the telephone call and nothing happened although I did put the $25,000 into the account.

Last night as I was preparing to go out I flipped on CNBC and saw the same ad. I called Schwab and explained the situation. After checking my account the good guy said "You've got it."

Pay attention to those ads. Seize the day!

CNBC -- Ratigan Gone

Comments are pretty good:

http://dealbook.blogs.nytimes.com/2009/03/27/dylan-ratigan-of-cnbcs-fast-money-leaves-network/

This Fawning CNBC Interview of "Sir" Stanford Was Not Removed!

On a UK website:

http://video.msn.com/video.aspx?mkt=en-GB&vid=c6159bf3-96d5-4cbe-962f-3aa0107c07b0

Duke March Usage 970 Laurel

tod_x

todx todx todx todx