Video-o-rama: Market Maelstrom

By Prieur du Plessis, on December 6th, 2008 posted in: Investment, Markets, Money 4 people had their say - chime in!

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Another week and another batch of fascinating video clips about bailouts, economic woes and other crisis-related matters. As to be expected, the good-news videos are in rather short supply. A number of the more interesting clips that have attracted my attention are shared below.

Some of my favourites included in this compilation are: “Peter Schiff uses analogies to describe crisis” (first one up) and “Dr Doom [Marc Faber] – Buffett’s approach to investing is dead” (further down). If you want to view only two of these clips, make sure to see these two.

Please post any interesting video links that you would like to share with the Investment Postcards community, in the comments section.

YouTube: Peter Schiff uses analogies to describe crisis
“Ron Paul economic advisor Peter Schiff uses analogies to describe our current economic crisis. Topics include debt-financed consumption, business cycles, the Federal Reserve, the cronies in Washington, and the modern American service economy.”

Source: YouTube, November 30, 2008.

CNBC: Pimco’s El-Erian on the markets and policy
“An expert outlook on the markets and global policy, with Mohamed El-Erian, Pimco co-CEO & co-CIO.

Source: CNBC, December 1, 2008.

Calculated Risk: Shiller – crisis may run for “years and years”

Click on the image below for part 1 of the interview.

Click the links for the other parts of the interview: Part 2 and Part 3

Source: Calculated Risk (via YouTube), November 28, 2008.

CNBC: Meredith Whitney on the credit crisis and financials
“Meredith Whitney, executive director of equity research at Oppenheimer, discusses the credit crisis and her outlook on the financial sector.”

Source: CNBC, December 1, 2008.

Fox Business: Greenberg on bailouts
“Former AIG Chairman Hank Greenberg discusses the government bailouts.”

Source: Fox Business, December 3, 2008.

Financial Times: Big Three plead for bail-out
“The US auto industry is bleeding cash as the Big Three chiefs plead for a $34 billion bail-out.”

Source: Spencer Jakab, Financial Times, December 4, 2008.

The Big Money: Chatting with Paul Krugman
“This may be the winter of Paul Krugman’s content. President Bush, whose economic policies Krugman has derided from the beginning, is leaving office. Krugman has been awarded the Nobel Prize in Economics. And Norton has just published The Return of Depression Economics and the Crisis of 2008, a substantial revision of the book he originally published in 1999. Listen to an exclusive interview with Krugman by Newsweek senior editor and Moneybox columnist Daniel Gross.”

Source: Daniel Gross, The Big Money, December 1, 2008.

Bloomberg: Wachovia’s Vitner sees “widespread weakness” in manufacturing
“Mark Vitner, a senior economist at Wachovia Corp, talks with Bloomberg about today’s reports on US manufacturing and construction spending.

“The Institute for Supply Management’s November factory index dropped to 36.2, the lowest level since 1982. The Commerce Department said construction spending fell 1.2% in October. Vitner also discusses the outlook for US unemployment and Federal Reserve monetary policy.”

Source: Bloomberg, December 1, 2008.

CBS News: US foreclosure hits unexpected
“A new wave of homeowners who pay their mortgages on time are now facing foreclosure after losing their jobs in the slumping economy.”

Source: CBS News, November 29, 2008.

YouTube: Refinance Index soars 203%
“Homebuilder stocks rose on surge in mortgage applications; Fed actions pushed 30-year fixed mortgages to 3-year low.”

Source: YouTube, December 4, 2008.

John Authers (Financial Times): Investment-grade crisis
“The credit crisis is widely held to have begun in July last year. But for investment-grade non-financial companies, the true “crisis” did not start until three months ago.”

Click here for the article.

Source: John Authers, Financial Times, December 4, 2008.

CNBC: Dr Doom – Buffett’s approach to investing is dead
“Warren Buffet’s investment strategy of buying stocks to hold for a number of years is no longer viable due to the extreme levels of volatility, Marc Faber, editor & publisher of The Gloom, Boom & Doom Report, told CNBC.

“‘The Warren Buffett approach is dead and it’s been dead for ten years and it’s going to be dead for another ten years,’ Faber said Monday.

‘We’ve moved into an environment of very high volatility where you will have up and down moves of like 20% all the time and that is a traders’ market,’ Faber said.

“Faber expects the S&P 500 index to rebound a further 10% to 1,000, but warns that any gains could be reversed just as quickly.

“‘We can have huge rebounds and then huge downturns again and I think the best for the average investor is to play it in relatively small amounts and not gear up and take big risks,’ he said.”

Source: CNBC, December 1, 2008.

CNBC: PIMCO’s Gross on the stock market
“Why stocks purchased at the right price may be good for the long run with co-CIO and founder of PIMCO William Gross.”

Click here for the article.

Source: CNBC, December 3, 2008.

Fox Business: IEA on falling oil prices
“International Energy Agency executive director Nobuo Tanaka explains the conditions behind falling oil prices.”

Source: Fox Business, December 3, 2008.

Fox Business: Reaction to OPEC’s decision
“Andy Lipow, President of Lipow Oil Associates discusses the impact of OPEC’s meeting this weekend on the price of oil.”

Source: Fox Business, December 1, 2008.

Financial Times: Back to austerity Britain
“The Bank of England on Thursday cut its key interest rate by a full percentage point to 2%, the lowest level for more that three decades. Chris Giles, economics editor, tells Richard Edgar that the Bank acted because the fiscal measures in the pre-budget report were not enough on their own and there is likely to be more rate cuts to follow.”

Source: Financial Times, December 4, 2008.

John Authers (Financial Times): Fear of Chinese slowdown
“The Chinese economy is far from decoupled from Europe and the US.”

Click here for article.

Source: John Authers, Financial Times, December 2, 2008.

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