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Monday, March 12, 2012

Bove: Bank Stress Tests Flawed

Dick Bove says bank stress tests are based on unrealistic hypotheticals. Meanwhile, the Fast Money traders discuss a possible slowdown in China and management changes at Pepsi, with Bill Schmitz, Deutsche Bank.

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Ruminations: I'm an investment professional and have spent the bulk of my career in the investment management industry. I am a deep value investor, but I also move in and out of asset classes based on my macro outlook (typically 10-20 trades a year). I don't mind holding a big slug of cash even if it earns nothing in hopes of hitting that fat pitch (as I did in 2009). I've been watching our current economic train wreck with a mixture of fascination and dread. The pain is not over and the worst is still to come. Under a reckless Fed that has callously disregarded its duty to supervise the markets, we are slowly but surely heading towards a day of reckoning where we will see the global currency system realign, interest rates in the United States rise sharply, and our standard of living decline measurably.

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Monday, March 12, 2012

Bove: Bank Stress Tests Flawed

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