How (Not) to Manipulate Your 2012 v. 2013 Pay

With tax rates rising, there’s a lot of year-end jockeying. Most people want to grab income now, not next year when rates will be up. Should You Grab Pay In 2012 Or Defer ‘Til 2013? Some want the reverse, but you can’t always choose. Constructive receipt requires you to pay tax when you have a legal right to payment even if you chose t…

How to Manipulate Your 2012 v. 2013 Pay

With tax rates rising, there’s a lot of year-end jockeying. Most people want to grab income now, not next year when rates will be up. Should You Grab Pay In 2012 Or Defer ‘Til 2013? Some want the reverse, but you can’t always choose. Constructive receipt requires you to pay tax when you have a legal right to payment even if you chose t…

Guest Post: Let’s Have A Depression Now

Originally posted at Monty Pelerin’s World,
The United States is more than four years into its form of economic purgatory. The government pronounced the recession over in June of 2009. That announcement does not conform with reality or even subsequent government suspect data. Even the Administration-friendly New York Times knows better:

Be…

Berkshire, CaixaBank in Deal

Berkshire Hathaway will pay CaixaBank €600 million ($778.7 million) for the future cash flow from a portfolio of life insurance policies, a rare dip into a fiscally stressed euro-zone country for Warren Buffett’s investment firm.

S&P 500 Snapshot: Friday’s Flat Finish

Nov 30, 2012 Doug Short  The S&P 500 started the day with no sense of direction. But an hour into the day we saw a modest selloff to the intraday low, off 0.31%, by late morning. A rally in the final hour took the index to its intraday high, up 0.21%, two minutes before the close. But last-minute selling gave us essentially a flat finish,…

Weekly Eurozone Watch: November 30, 2012

Key Data Points1 German 10-year Bund 5 bps lower; France 10-year 6 bps tighter to the Bund; Ireland 7 bps wider; Italy 20 bps tighter; Spain 25 bps tighter; Portugal 23 bps tighter; Greece 30bps tighter; Large Eurozone banks up  0.5-3 percent; Euro$ up 0.33 percent. Comments – France, Italy, and Greece 10-year yields at […]

Daily ETF Roundup: Stocks Pull Back On Mixed Economic Data

A slew of disappointing economic reports along with looming concerns surrounding the fiscal cliff discussions had investors pulling back, as many were reluctant to make big bets ahead of the weekend. While investors continued to weigh the probability of Congress coming to a viable solution, U.S. consumer spending came in surprisingly lower, falli…

Gundlach: "I’m Waiting For Something To Go Kaboom"

Following some well-timed ‘suggestions’ in Natural Gas and Apple this year, the new bond guru has some rather more concerning views about the future of America. Reflecting on a dismal outlook progressing due to the fact that “Retirees take resources from a society, and workers produce resources”, Gundlach has cut his exposure to US equities (apart fr…

European Rescue Mechanism Loses AAA Rating

S&P futures are bleeding back down again after-hours (and EUR -30pips) as Moody’s announces the downgrade of the EFSF and ESM from AAA to Aa1. “Moody’s decision was driven by the recent downgrade of France to Aa1 from Aaa and the high correlation in credit risk which Moody’s believes is present among the ESFS’ and ESM’s entities’ largest financia…

The Most Ridiculous Close To An Unimpressive Week

With a late-day surge into the green for the S&P 500 futures on (as usual) absolutely no news at all (attributed to MSCI rebalancing) – that crossed the entire day’s range in the space of 40 minutes, the Dow managed to just hold 13,000 and close green for the week. There was very significant volume and block size into the ramp as it pulled away f…