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Atlas Shrugged

Federal Reserve Chairman Ben Bernanke’s speech in Jackson Hole today was notable for what it did not contain—a big silly and asset levitating QE3 program—although he did leave that possibility open: “In addition to refining our forward guidance, the Federal […]

But This CEO Goes to 11

Many things can aggravate an investor in a very cheap stock. This one is particularly irking. Leo Apotheker, the “9 month old” CEO of Hewlett Packard, for reasons unbeknownst to those rationally running public companies, participated in the following dialogue […]

The World’s Richest Hypocrite

It seems hard to reconcile this piece by Warren Buffett with the fact that he is engaged in possibly the largest tax-free transfer of wealth in the history of modern mankind.

The Simple Life of Cash

It does take some creativity and high IQ for many to justify “2 & 20.” I also think a Mrs. Montier might insist on a better picture.  Click here to read more.

Steve Wynn Leading the Charge

How rare is it for a visible corporate leader to speak publicly on anything but their latest green initiative? ——July 2011 Conference Call————————————————————————- I believe in Las Vegas. I think its best days are ahead of it. But I’m afraid […]

Another priceless quote coming out of the European Crisis

“If the European Union could monetise the value of the credibility it has destroyed it would be the richest organisation on earth,” said one major credit manager. From The Telegraph

It’s OK for Us to Quote Bond Managers

To the best of my knowledge, Van Hoisington and Lacy Hunt have been long 30 year Treasury strips since I started in this business in 1984 and the record has been ridiculously good in a cheerily volatile way. This is […]

The Crowd Around Rising Rates

Bianco Research Comment: “Since December 2002 Bloomberg has conducted 99 monthly surveys. Of these, an incredible 95 surveys (96%) have forecasted higher rates. To repeat, only four times since 2002 (4%) have economists been forecasting lower rates. Those instances are […]

CSC Strategy Letter | Number 1 | Volume 1, Issue 1

Download Cove Street Capital’s July 2011 Investment Strategy Letter Number 1, “Volume 1, Issue 1”

European Spade Work

The Cove Street Team remains confident we will see a European Vacation at an acceptable exchange rate. A nice paid clip from the FT:  ——S&P: Calling a Spade a Spade——————————————————————- Be careful what you wish for. Those European politicians who […]

Yahoo and Jack Ma

Only somewhat facetiously, I wonder out-loud why Jack Ma was not arrested at the US border last week when he spoke at The Wall Street Journal’s All Things Digital Conference. On a massive and very public scale, he is conveying […]

Thank you Mr. Dimon

At what was surely a suave gathering of banking officials in Atlanta on June 7th, this exchange was noted between Morgan’s Jaime Dimon and Fed Chief Ben Bernanke. The answer should scare you. Mr. Dimon: Y’know, I have this, totally, […]