Friday, November 30, 2012

Quotes from Reuters 2013 Investment Summit

(See the entire piece here; the main Investment Summit page is here)
BONNIE BAHA, SENIOR PORTFOLIO MANAGER AT DOUBLELINE CAPITAL: "The term (fiscal cliff) is going to become a new drinking game...My fear is that the can gets kicked down the road for at least a 6-month period."

DANIEL YU, INDEPENDENT HEDGE FUND ANALYST: "Microsoft (MSFT.O) is a great short...Microsoft is this big Goliath in a room full of many little Davids who are very busy throwing slingshots at them."

DAVID SCHAWEL, FIXED INCOME PORTFOLIO MANAGER: "I'm not a big fan of Mortgage REITs...There's a lot of dumb money that are chasing this in hopes of this yield."

Bruce Berkowitz talk

Bruce Berkowitz, founder of Fairholme Capital Management, shares his experience in becoming one of today's most preeminent value investors with students and alumni as part of the School's Executive-in-Residence program

Special Dividend Announcements Ahead of Cliff

A host of companies have rushed to issue special dividends or pay them early in order to avoid higher taxes next year. Carol Roth, author of "The Entrepreneur Equation," and Jason Trennert, Strategas Research Partners, discuss whether it's pre-mature to make such a move.

Peter Schiff: Lots of Opportunities in Asian Stocks

Japan Poses Biggest Global Risk: Expert

Robert Engle, 2003 Nobel Laureate in Economics, discusses why Japan poses the biggest systemic risk to the global economy.

Why Warren Buffett is 'Tap Dancing to Work,' PT 2

Why Warren Buffett is 'Tap Dancing to Work,' PT 1

Ross Levinsohn: Mobile Could Be Huge for Yahoo

Black Swan: How to Profit From Chaos

Nassim Taleb, author of "The Black Swan," spotted the financial crisis of 2008 before anyone else. He joins CNBC's John Carney to discuss what he is seeing now.

Barbara Corcoran: 'Great Time to Buy'

Housing appreciation is "going to go much higher than people anticipate," says real estate whiz Barbara Corcoran.

Paul Volcker: Regulations Don't Need to Be Complicated

Paul Volcker, former Federal Reserve Chairman, explains why he believes the Volcker Rule has already been effective and says that regulation does not have to be overly complex.

Investing Ahead of 'Cliff' Deal

"We lack savings, we encourage borrowing, and that's the wrong policy," said Peter Boockvar, Miller Tabak equity strategist, weighing in on how investors can protect their portfolios in an uncertain market.

How Wealthiest Invest Their Millions Today

Keith Banks, U.S. Trust, explains where the nation's most wealthy are putting their money now. Meanwhile CNBC's Eamon Javers discusses President Obama's message on the fiscal cliff.

Goldman Sachs 2013 Outlook: S&P 1575

David Kostin, Goldman Sachs, provides his forecast for next year, predicting the economy will grow almost two percent and the S&P will rise about twelve percent from current levels on P/E expansion.

'This Is My Worst Call Ever': Michael Pachter

CNBC: Special Dividends In Focus

A slew of companies are continuing to announce special dividends so far, ahead of the fiscal cliff, with Steven Neimeth, SunAmerica Asset Management, and Brad Rogoff, Barclays.

Narain: `Enormous’ Room for Derivatives in India

Ravi Narain, chief executive officer of National Stock Exchange of India Ltd., talks about the outlook and prospects for the Indian stock market.

Sell Euro Above $1.30, SocGen's Juckes Says

Kit Juckes, head of foreign-exchange research at Societe Generale, talks about the yen, euro and Swedish krona.

Harvard's Christensen on Outlook for Capitalism

Clayton Christensen, a professor at Harvard Business School, talks about the outlook for capitalism in the U.S. and how corporations measure profitability.

Chanos Says Put All of U.S. Budget On the Table

Jim Chanos, founder of Kynikos Associates Ltd., Wesley Clark, a retired U.S. Army General, and Howard Lutnick, chief executive officer of Cantor Fitzgerald LP, talk about the U.S. fiscal cliff, the economy and budget policy.

Jim Grant: Fed Policy at War With Market Mechanism

James Grant, publisher of Grant's Interest Rate Observer, talks about Federal Reserve monetary policy and Bank of Canada Governor Mark Carney's appointment as the next head of the Bank of England. Grant speaks with Tom Keene and Sara Eisen on Bloomberg Television's "Surveillance." Lakshman Achuthan, chief operations officer of the Economic Cycle Research Institute, also speaks.

ECRI's Achuthan Defends Call for U.S. Recession

Hatzius Sees `Gradual Acceleration' in U.S. Growth

Fabio Savoldelli on Global Hedge Fund Strategies

Fabio Savoldelli, finance professor at Columbia University, talks about global hedge-fund strategies. Distressed and Fixed Income arbitrage has outperformed while global macro has had lackluster returns.

Tuesday, November 27, 2012

Warren Buffett interview with Matt Lauer

Super investor Warren Buffett, the chairman of Berkshire Hathaway, speaks with TODAY’s Matt Lauer about Cyber Monday sales figures, consumer confidence and the future of the American economy.

Visit for breaking news, world news, and news about the economy
Visit for breaking news, world news, and news about the economy

Warren Buffett on Charlie Rose

Warren Buffett and Fortune Magazine's Carol Loomis on her book "Tap Dancing to Work" (Watch here)

Where Does Pain Come From? The Experts Explain

JPMorgan, Citigroup Favored by Algebris's Serra

Davide Serra, founding partner and fund manager at Algebris Investments, talks about the euro-region's sovereign debt crisis, the banking industry and investment strategy.

Morgan Stanley's Parker on Investment Strategy

Carson Block: Olam Accounting Is `Incompetent'

Block finally releases his much-anticipated report on Olam (See Initiating Coverage on Olam International – Strong Sell and download report here)

Sunday, November 25, 2012

Marc Faber's forecasts for the global economy

Marc Faber discusses what opportunities are likely to emerge for institutional investors if sovereign debt continues. He assesses the possible impact of social and political unrest in North Africa and the Middle East, and how hedge funds can invest in emerging markets.

David Herro is wary of Chinese equities

David Herro, chief investment officer of Harris Associates, is wary of Chinese stocks. He tells Barron's at the 2012 Art of Successful Investing conference that good Chinese companies have expensive shares, while many cheap companies are controlled by the government, which isn't looking out for other shareholders.

Japan Stocks Poised to Rise 20-40%

Ed Rogers, chief executive officer at Tokyo-based Rogers Investment Advisors, talks about Bank of Japan monetary policy, the outlook for the nation's stock market and currency, and his investment strategy. Shinzo Abe, who polls suggest is likely to become Japan’s next prime minister at elections next month, called for the BOJ to conduct unlimited monetary easing to end deflation and said he would consider revising a law governing the bank’s independence.

Dinakar Singh likes Airlines

Singh likes Japanese and US airlines (Delta, United) stocks and especially their suppliers (BAE Systems). He sees value in financials globally and especially in Europe where some banks are trading at low P/E ratios

John Mauldin: France to Be Serious Problem in 2013

Peter Baxter on Kondratieff Winters

Kondratieff Winters feature high volatility, slow to negative growth, delevering (by consumers, corporations, and governments) hoarding of cash by banks, asset deflation, and economic depressions due to bursting of unsustainable credit bubbles. Peter Baxter, President of Baxter Capital Advisors and author of, explains why he thinks we are in a Kondratieff Winter and where the economy is headed based on this theory.

Scott Patterson Discusses Dark Pools and High-Frequency Drone Wars

Simon Mikhailovich on Capital Account

Lauren Lyster talks to Simon Mikhailovich of Eidesis Capital about potential approaches for tackling the US debt as well as lessons the US can learn from the Japanese economy.

Chris Mayer on Capital Account

Chris Mayer, author of Capital & Crisis, discusses his trip to Myanmar, including one very interesting feature of "monetary mayhem." Apparently, the only foreign currency the people of Myanmar accept is the US dollar,  but they must be in mint condition - creased bills are not accepted!

Eric Hunsader (Nanex) on Capital Account

Jimmy Rogers on Capital Account

(from Oct 26, 2012)
Jim Rogers goes Short US Treasuries, talks JP Morgan Silver and a Boom in North Korea

Jim Rogers Back to Shorting US Treasury Bonds

On Booming Burma and a North and South Korean M&A

on Blythe Masters and JP Morgan's Naked Silver Short

Mish Shedlock on Capital Account

Lauren Lyster talks to Mike "Mish" Shedlock, author of Mish's Global Economic Trend Analysis, about what wages and standard of living might indicate about a US economic recovery.

Chris Whalen on Capital Account

Lauren Lyster talks to Chris Whalen, author of the book "Inflated," about how implementing Basel III and increasing capital requirements might lead to decreased lending and a US recession.

Grant Williams (Vulpes) on Capital Account

Lauren Lyster talks to Grant Williams, Portfolio and Strategy Advisor for Vulpes Investment Management, about the impact of the US's debts, and the massive deficits that its government has been running the past four years.

Steve Keen on Capital Account

Lauren Lyster speaks with economist Steve Keen about the role of productive versus unproductive debt in the economy.

Chris Cole (Artemis Capital) on Capital Account

Josh Brown: Q3 Earnings Were “Atrocious”

Apple's ‘Michael Jordan Days’ May Be Over

Keith Jurow: House Prices Are Nowhere Near A Bottom

Jurow bases his conclusion primarily on concerns about so-called "shadow inventory"--a huge number of houses that will eventually be on the market but aren't counted in current inventory figures. For example, a large number of households are behind on their mortgages or have stopped paying their mortgages, Jurow says, but the banks have yet to foreclose. When banks are finally forced to foreclose, Jurow says, and these houses hit the market, they will cause significant additional price declines. Additionally, some homeowners who want to sell are waiting for price increases. When they finally give up and put their houses on the market, Jurow says, this will add additional supply.

Barry Ritholtz: Housing Stable but not in ‘Full-Blown Recovery’

"The problem with housing continues to be it's not an organic recovery, or stabilization, to use a better word. The [Federal Reserve has] driven rates down to inconceivable levels."

Jim Rickards: ‘Be Careful What You Wish for’ Regarding Fiscal Cliff

"There are only bad outcomes. Taxes are going up no matter what. It's just a question about whether they go up for everybody [failure to agree] or target certain people [agreement]. Either way you're talking about a tax increase in the middle of a depression."

The Fed Will Keep Printing Until the Dollar Gets Weaker

Mideast Is a Much Bigger Worry Than Europe
Rickards is much more optimistic about the situation in Europe than the Mideast. He sees three main reasons to be hopeful about Europe:

  • China is eager to invest in Europe and diversify its foreign exchange holdings. 
  • Young people in Europe are willing to work for less than their older counterparts. 
  • Germany, an export powerhouse for more than 40 years, has finally accepted the necessity of slightly higher inflation. 

"The U.S., Europe and China all have to go through major structural adjustments. The difference is Europe is stepping up to the plate and doing it. The U.S. and China are still in denial."

(Video) The Chronicles of Fedor

Quite possibly the greatest heavyweight ever

Saturday, November 24, 2012

Robert Greene: How to Be a Master in Your Field

Robert Greene, author of Mastery, tells CNBC that the key to mastering your field is a process that involves passion, persistence and not fearing failure.

Jamal Edwards: From Store Assistant to Millionaire Entrepreneur

Jamal Edwards, the 22-year old founder and CEO of SBTV talks about how he founded his Youtube channel which recently attracted more than 6 million visitors per month.

Jim Grant: Fiscal Cliff Another Y2K Moment

Pimco's Crescenzi: Treasuries to Stay Good Asset Class

Tony Crescenzi, a portfolio manager and strategist at Pacific Investment Management Co., talks about the bond market, Federal Reserve monetary policy and the so-called U.S. fiscal cliff.

Templeton `Modestly' Increased Irish Bonds Position

John Beck, co-director of global fixed income at Franklin Templeton Investments, talks about Irish bonds and asset allocation.

Lee Munder's Davis on Stock Market, Intel, Exxon

Jeffrey Davis, chief investment officer at Lee Munder Capital Group, talks about Intel Corp., Exxon Mobil Corp. and the outlook for the equity market.

Hugh Hendry at The Buttonwood Gathering 2012

Watch live streaming video from theeconomist at

David Einhorn on the Federal Reserve

The Buttonwood Gathering 2012 - David Einhorn on the actions of the Federal Reserve

Steve Romick on Consuelo Mack WealthTrack,

(from Oct 19, 2012)
A rare interview with Steve Romick of FPA Crescent. Romick describes how he is keeping his five-star rated fund on top by balancing the forces of inflation and deflation and continuing his contrarian, value-oriented strategies.

On CNBC (Oct 8, 2012)
Steven Romick, First Pacific Advisors, reveals his two favorite stock picks. He also says why he is not bullish on bonds. "You're not getting paid to play if you are buying high-yield bonds," he adds. Picks include Rhino Resource Partners, Omnicare (institutional pharmacy with a 40% share in delivering drugs to nursing homes with new management), Renault (stakes in Nissan and Volvo exceed the value of the company)

Jim Chanos Still Shorting Chinese Banks

Kyle Bass interview at Darden Conference

Kyle Bass has a conversation with Darden professor Ken Eades at the Darden School of Business University Investing Conference 2012.

    Kyle Bass      

Dinakar Singh (TPG-Axon) on CNBC Part II

From Nov 9, 2012
Dinakar Singh, TPG-Axon founder & CEO, explains why he has lost confidence in SandRidge management.

Dinakar Singh (TPG-Axon) on CNBC, Part I

From Oct 24, 2012

Friday, November 23, 2012

Jim Chanos (CNBC): HP remains a value trap

This whole thing is a debacle and probably should have never happened. We had been short Autonomy in our European fund in 2010 and 2011, and watched in horror as it was taken out at a big premium by Hewlett-Packard. It was one of our absolute favorite shorts at the time.”

It was pretty clear if you look at Autonomy’s books over time that it was a very, very aggressive roll-up. It was buying other companies. It was writing them down before it bought them and putting all kinds of goodwill on its books, which most accounting mavens know is a real way to play earnings games if you want to.”

Chanos remains short HP, calling it a value trap
This [HP] is a company that, as you know, our thesis was they have been basically offsetting a decline in their business by making acquisitions. In this case, almost disastrous acquisitions.”

Friday, November 16, 2012

Bill Ackman sticks with JC Penney

(CNBC) Activist investor and Pershing Square Capital CEO, William Ackman explains why he is giving the retail company several years to turnaround, despite its recent sales plunge.

Reuters: Asia's hedge funds wither

A good read on the sad state of Asia's Hedge Fund Industry
- Asia's roughly 1000 hedge funds manage $144B, a 30% drop from 2007
- The proportion of Asia hedge funds with AUM under $20M is 42% up from 29% in 2007
- 86% of Asian hedge funds manage less than $200M, considered the threshold to attract institutional investors
- $800M has flowed out of Asia hedge funds this year, starving the sector of capital, and at least 73 funds have shut down
- Even funds with good performance have had problem attracting capital because their small size prevents institutions from investing, given that these institutions typically have large minimum ticket sizes.

Kyle Bass is heavily invested in subprime bonds

Securities tied to the riskiest mortgages are virtually “bullet-proof,” because even if the U.S. housing market declines by 10 percent, investors won’t take a principal hit on their bonds. The assets offer a “very safe place” to make double-digit returns.

“We have more than half our money in subprime bonds,” Bass said. “You don’t like a pair of jeans at 200 bucks, but when they go on sale for $25 you look great in them.”

Richard Duncan interview: "Out of Credit"

RICHARD DUNCAN, economist and author of "The New Depression" on the West's debt explosion and the likelihood of a global economic meltdown

Mark Faber warns of "massive market meltdown"

Simon Lack On The Hedge Fund Mirage

In this Opalesque.TV video, Simon talks about how his firm SL Advisors aims to generate income in a world of negative real rates, basically through the following three strategies: Investments in Master Limited Partnerships (MLPs), Deep Value Equity and a Hedged Dividend Capture Strategy. 

Simon also talks about “The Hedge Fund Mirage”, his book that received some controversy stating “if all the money that's ever been invested in hedge funds had been in treasury bills, the results would have been twice as good.”

John Taylor (FX Concepts): Forex heyday far from over

Steve Diggle: From Artradis to Vulpes

Steve Diggle is the co-founder of Artradis Fund Management, a hedge fund group significantly focused on arbitrage and volatility trading in Asia.

Are Hedge Fund Costs Worth It?

Columbia University Professor Fabio Savoldelli speaks with Bloomberg's Erik Schatzker and Stephanie Ruhle about the evolving hedge fund world and hedge funds costs.

Sprott on Gold Market Outlook, Investment Strategy

Thursday, November 15, 2012

David Malpass: US Unemployment Hurdle for Housing,

Russell Platt on Investment Strategy in Real Estate

Russell Platt, chief executive officer of Forum Partners, talks about investment opportunity in Spain's real estate market and strategy.

Lawrence Haverty on Google, Microsoft, Yahoo

David Zervos on the fixed income market

Jefferies Head of Global Fixed Income Strategy David Zervos talks about the fixed and credit income markets

Agecroft on the 'next hedge fund trade'

Agecroft Partners Founder Don Steinbrugge talks about hedge funds and his investment strategy.

Hans Humes (Greylock): Investing in Greek Debt a `No Brainer'

Hans Humes, president and chief investment officer of Greylock Capital Management LLC, talks about global bond markets including Greece and his investment strategy.

Shilling Sees Global Recession, Likes Treasuries

From Oct 19

Eric Jackson: Growth for Yahoo, Storm for Microsoft

Eric Jackson, founder of Ironfire Capital LLC, talks about Yahoo Inc.'s third-quarter earnings and outlook, and the future of Microsoft Corp. The biggest U.S. Web portal reported profit and sales that beat estimates.

PAAMCO Doesn't Want `Hedge Fund Hipsters'

Jane Buchan, co-founder and chief executive officer of Pacific Alternative Asset Management Co., talks about investment in hedge funds, financial regulation and the potential impact of the U.S. presidential election on the stock market.

David Herro: Global Stocks Still a Good Asset Class

David Herro is the CIO of international equities at Harris Associates and manager of the Oakmark International Fund

Henry Kaufman on Big Banks, Industry Outlook

Pimco: Rally in Financial Debt Mostly Over

Mark Kiesel, global head of corporate bond portfolios at Pacific Investment Management Co., talks about investment strategy and the outlook for the U.S. housing and corporate bond markets.

Wilbur Ross `Looking At' Spanish Banks

Michael Platt (Bluecrest): We Are in a World of Too Much Debt

Bluecrest Capital Management CEO Michael Platt talks about the Spanish debt crisis, sovereign debt markets and his investment strategy.

Michael Pachter: Zynga Stock Buyback Is Smart

Greg Smith Defends Himself Against Biggest Critics

Former Goldman Sachs employee Greg Smith talks about his career at Goldman Sachs and the reasons why he wrote his book, "Why I Left Goldman Sachs."

Baronoff, Bondy, Solomon, Tague on M&A Outlook

Steven Baronoff, chairman of global mergers and acquisitions at Bank of America Merrill Lynch, Craig Bondy, a principal at GTCR LLC, Jeffrey Solomon, chief executive officer of Cowen & Co., and Peter Tague, vice chairman and co-head of global mergers and acquisitions at Citigroup Inc., participate in a panel discussion about the future of mergers and acquisitions amid economic and market uncertainty

Effron, Knee, Solomon Discuss M&A Activity

Blair Effron, a partner and co-founder of Centerview Partners LLC, Jonathan Knee, senior managing director at Evercore Partners, and Peter Solomon, founder and chairman of the Peter J. Solomon Co., participate in a panel discussion on the outlook for corporate merger-and-acquisition activity.

Barrack Sees Best Investment Opportunities in US

Thomas Barrack, chairman of Colony Capital LLC, talks about strategy for distressed investing amid the European debt crisis and U.S. housing recovery.

Bloomberg Link: Distressed Investing

David Barse, president and chief executive officer at Third Avenue Management, Timothy Coleman, senior managing director and head of restructuring and reorganization group at Blackstone Group, Michael Green, founder and CEO at Tenex Capital Management, and James Zenni, president and CEO at Z Capital Partners LLC, discuss potential investment opportunities created by troubled industries, assets, countries and banks.

Bloomberg Link: Private Equity Industry Outlook

Peter Clare, co-head of buyouts at Carlyle Group, Bennett Rosenthal, a senior partner at Ares Management LLC, Richard Schnall, a partner at Clayton, Dubilier & Rice LLC, and Christopher Stadler, a managing partner at CVC Capital Partners, participate in discussion about the outlook for the private equity (PE)  industry.

Bloomberg Link: Tech M&A

Richard Climan, a partner at Weil, Gotshal & Manges LLP, Imran Khan, a managing director at Credit Suisse, and Drago Rajkovic, a managing director at JPMorgan Chase & Co., participate in a dicussion about mergers and acquisitions in the technology industry.

Barnegat's Treue on Arbitrage Strategy

Bob Treue, founder and portfolio manager at Barnegat Fund Management, talks about the performance of his hedge fund, fixed-income arbitrage and investment strategy.

Citigroup's Willem Buiter on Euro-Zone Debt Crisis

Willem Buiter, chief economist at Citigroup Inc., talks about the outlook for the European debt crisis and global economy.

Citadel: Africa Next Frontier for Growth

Citadel Capital Chairman Ahmed Heikal talks about energy infrastructure in Egypt, state subsidies and investing in East Africa.

Asia Stars: Coco Lee

Bloomberg Television's Susan Li interviews singer Coco Lee about her life and career. She spoke on "Asia Stars."

Renaissance Macro's Dutta on U.S. Economic Growth

Neil Dutta, head U.S. economist at Renaissance Macro Research LLC, talks about third-quarter growth.

Julian Robertson: Hedge Fund Managers `Scared'

Former Yahoo CEO Levinsohn Company Outlook, Mayer

Ross Levinsohn, who was interim chief executive officer of Yahoo! Inc. until Marissa Mayer became CEO in July, talks about the outlook for the company and his successor.

Goldman Sachs: Emerging Markets Undervalued

Anna Stupnytska, executive director and macro economist at Goldman Sachs Asset Management, talks about investment opportunities in emerging markets, China's economy and inflation targeting.

Joseph Stiglitz `Very Pessimistic' on Euro-Zone Recovery

Nobel Prize-winning economist Joseph Stiglitz, a professor at Columbia University, discusses the outlook for the European economy, emerging markets and the potential implications of Mitt Romney winning the U.S. presidential election.
Stiglitz Sees Significant Probability of Euro Split

Pimco's Kiesel Likes Emerging Market Growth Areas

Asia Stars: Marjorie Yang

Marjorie Yang, chairman of Esquel Enterprises Ltd, discusses her life and career. She spoke on Bloomberg Television's "Asia Stars."

Asia Stars: Ronnie Chan

Ronnie Chan, chairman of the Hang Lung Group, speaks to Bloomberg Television's Susan Li about his life and career. He spoke on "Asia Stars."

Titans at the Table: Asia's Power Players

Mark McCombe, BlackRock's Asia-Pacific chairman, Jing Ulrich, JPMorgan Chase Bank managing director, Paul Cheng, Esprit Holdings deputy chairman, John McCormick, Royal Bank of Scotland Asia-Pacific CEO, appear on Bloomberg Television's "Titans at the Table."

BOE On Course for More Bond Buying in 2013

Roger Bootle, founder of Capital Economics and a former U.K. Treasury adviser, talks about the Bank of England's decision to halt expansion of its bond-buying program.

China Growth Will Slow to 4%-6% Mid-Decade

Arnab Das, managing director of market research and strategy at Roubini Global Economics, discusses European Central Bank monetary policy and the outlook for the Greek and Chinese economy.

Gordon Chang: China Near End of Regime

Gordon Chang is author of `The Coming Collapse of China'

Bill Miller: Great Time to Be Value Investor

Pimco Likes Italian, Spanish Bonds in `Risky Play'

Andrew Bosomworth, MD at Pimco, and Sarah Hewin, head of research in Europe for Standard Chartered, discuss the European Central Bank's decision to keep interest rates unchanged at 0.75 percent, inflation risks and bond markets.

Greek Exit `Highly Probable'

Thanos Papasavvas, fixed income and currency strategist at Investec, discusses the outlook for Greece to receive 31.5 billion euros ($40 billion) in fresh bailout loans, the prospects of an euro-zone exit and the U.S. economy.

JC Penney Profit Plummets by 26% Last Quarter

Bloomberg Contributing Editor Jay Margolis talks about declining profits at JC Penney.

Barry Ritholtz on Obama Re-Election, Fiscal Cliff

David Kotok Fully Invested in U.S. Equities

Carlyle Co-CEO Rubenstein on Fiscal Cliff, Strategy

David Rubenstein, co-chief executive officer of the Carlyle Group LP, talks about investment strategy, the outlook for the private equity industry and U.S. fiscal policy.

Gary Shilling on US Deficit, Fiscal Cliff

Dinakar Singh (TPG-Axon): SandRidge Management Is Not Trusted

Dinakar Singh, CEO of hedge fund TPG-Axon Capital Management, talks about his firm's recommendation that SandRidge Energy replace its CEO and some board members, and consider selling itself. Singh, speaking with Pimm Fox and Stephanie Ruhle on Bloomberg Television's "Market Makers," also discusses the fiscal cliff, and investment opportunities in Japan, airlines and financials.

Mark Dowding (BlueBay): Spanish Bond Yields to Increase

Mark Dowding, a senior fixed-income portfolio manager at BlueBay Asset Management Ltd., discusses Greece's funding needs and his bond-markets strategy.

How Tom DeMark Makes His Market Predictions

Tom DeMark, founder and chief executive officer of Market Studies LLC, talks with Bloomberg’s Kevin Thrash about indicators he's developed to show turning points in financial markets. This story is featured in the December issue of Bloomberg Markets magazine: DeMark Fibonacci Charts Embraced by Cohen Lure Investors.

His latest call on stocks was Oct. 24, when he said the S&P would reach 1,480 -- a new high for the year -- within two weeks, then reverse. He was right about the decline, not the peak. The index rose to only 1,434 intraday before falling. As of the market close Nov. 12, it had dropped 3.8 percent from that high.

Spotting Market Trends Before They End (Oct 25)

Market on Verge of Significant Decline (Oct 25)

Japanese Policies Will `Dramatically Weaken' Yen

Stewart Richardson, chief investment officer of RMG Wealth Management, talks about the yen, central bank policy and the U.S. fiscal cliff.

Roubini Sees Recession in Periphery Beyond 2013

Roubini chats with a hot blonde on the Turkish economy, the European sovereign-debt crisis and unrest in Syria and Iran.

Bloomberg Voyager: Finding the Spirit of Shanghai

In the first episode of Bloomberg Television's "Voyager" Rishaad Salamat explores Shanghai. With him is Ben Wood, an architect, Bin Lin, president of Xiaomi Corporation, and Robert Theleen, chairman of Chinavest.