Bronte Capital

The sometimes eccentric views of John Hempton

Sunday, November 30, 2008

Weekend edition: surf lifesaving as a spectator sport

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I am a volunteer surf lifesaver at Bronte Beach .  I used to be at North Bondi (one of the softest but most crowded Sydney beaches) but mov...
5 comments:
Thursday, November 27, 2008

Even Krugman doesn't get how plainly irrationally bad it is out there

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I used to think that if the government only made the GSE obligations full faith and credit (FFC) obligations the remaining problems in the c...
16 comments:
Wednesday, November 26, 2008

Proof we are not in Kansas any more

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Brad Delong thinks that the failure of Citigroup is about “risk premium” .  I think it is about trust – and I guess in some sense these are...
15 comments:

Arguably the best proxy disclosure of the year

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I had never heard of Schulman until today – but then Footnoted led me to  a proxy disclosure.  I won’t adorn this: During fiscal 2008, the...
1 comment:
Tuesday, November 25, 2008

Reaction to the bailout

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The consensus is that the Citigroup bailout was bad - see Mark Thoma . I am going to differ here.  The bailout was well designed... except 1...
10 comments:

The Brad DeLong question - and how to design a bailout that works

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Brad DeLong asks a question which seems obvious enough to me – but seems to elude him.   Le Citi Toujours Dormer... Why oh why can't we ...
7 comments:
Monday, November 24, 2008

I risk being detained by the Latvian secret police

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It appears that a Latvian academic was detained by the secret police for spreading rumours about the possible devaluation of the Latvian cu...
3 comments:

Tax benefits, Wells and Wachovia

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The most repeated argument against my line that Sheila Bair erred badly when gifting Wachovia to Citigroup is that Wells could only make the...
5 comments:

A more sensible idea: A Citigroup pre-pack bankruptcy

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It looks more and more like Citigroup is going to the Federal Government for help (something that neither Washington Mutual nor Wachovia did...
1 comment:
Sunday, November 23, 2008

Why Sheila Bair must resign

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Sheila Bair is doing a fine job at one thing – modifying mortgage terms in the mortgages she has taken over – particularly those at Indy Mac...
10 comments:
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