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Apple and Google Declare War – Here's the Secret Winner

Resident tech guru Michael Robinson and I are both big science-fiction fans. Michael likes traditional sci-fi stories, like those of Robert Heinlein and Isaac Asimov. My sci-fi interests are more focused on “Golden Age” radio dramas, “pre-code” comics, and old movies and TV shows… like The Twilight Zone and The Outer Limits.

And when Associate Editor Cris Skokna joined our team a few months back, Michael and I were so pleased to discover that he was a sci-fi guy as well that I jokingly dubbed the three of us as “The Trilogy.”

And the other day, Cris told me a story that I absolutely had to share with you…

  • Subprime

  • Angry Investor Sues UBS over U.S.-Connected Subprime Write-Downs By Mike Caggeso Associate Editor William Wesney, an upset UBS AG (UBS) shareholder, is suing the Swiss banking giant and its officers, arguing that investors were misled about write-downs related to the faltering U.S. subprime mortgage market. And he may not be alone. Reuters reported that Wesney is seeking class-action status on the suit, which […] Read More...
  • Bush Announces Rate Freeze for Subprime Borrowers By Mike Caggeso Associate Editor President Bush announced yesterday [Thursday] afternoon that an agreement made between the U.S. Treasury Department and lenders will secure interest rates for many subprime borrowers. The deal hones in on borrowers who will fall behind after their introductory "teaser" interest rates reset to higher levels – sometimes adding hundreds of […] Read More...
  • Three Ways to Profit From the Next Phase of the Subprime Mortgage Mess By Keith Fitz-Gerald Contributing Editor I've been telling you for months, now, that the subprime mess isn't over. But contrary to what you might be hearing in the mainstream news, the Four Horsemen of the Financial Apocalypse aren't thundering their way to our homes right now, either. In fact, savvy investors will have the chance […] Read More...
  • The Merrill Lynch "Surprise" Fuels More Subprime Uncertainty By Jason Simpkins Associate Editor Just one day after Merrill Lynch & Co. Inc. (MER) wrote off billions in bad mortgage loans and reported its biggest quarterly loss in 93 years, Wall Street analysts yesterday (Thursday) predicted there was still more bad news to come. Although it wrote off $8.4 billion of subprime mortgages and […] Read More...
  • The Three Investments to Avoid and the One Stock to Buy to Profit from the Lousy Mortgage Market By Martin Hutchinson Director of Global Investing Research The U.S. banking trio of Citigroup Inc. (C), J.P. Morgan Chase & Co. (JPM) and Bank of America Corp. (BAC) yesterday (Monday) announced that they were setting up a new fund – perhaps as large as $100 billion – to buy mortgage debt held in "Securitized Investment […] Read More...
  • The Three Pathways to Profit as Investors Make it All About Earnings By William Patalon III, MBA Managing Editor Money Morning/The Money Map Report In the weeks to come, it will be all about earnings. Stock prices soared to a new record high a week ago today (Monday), on a newfound belief that the subprime mortgage mess was contained. We predicted that belief would be short-lived, and […] Read More...
  • Firms Issue Mea Culpa for Botched Hedge Fund Markets Report From Staff Reports A research report that concluded that $32 billion flowed out of hedge funds in July – leading analysts to think the controversial investment vehicles were a major cause of the global credit crisis that started in August – was wrong, the two firms that issued the report admitted yesterday (Wednesday). TrimTabs Investment […] Read More...
  • Citigroup and UBS Brace For Losses, but Dow Jones Sets Record Above 14,000 By Jason Simpkins Staff Writer On a day that two huge banks took major profit hits because of the subprime market crisis, stocks soared to record highs yesterday (Monday) on the belief that the worst of the ensuing credit crisis had passed. Citigroup (C) and UBS AG (UBS), the largest banks in the United States […] Read More...
  • Will Fed Rate Cuts Have an Inflationary Impact? When Federal Reserve policymakers announced the half-a-point cut in interest rates last Tuesday, I was almost at a loss for words. As all of you know, I had projected reduction of 25 basis points, and by the time Tuesday’s meeting of the central bank’s Federal Open Market Committee (FOMC) rolled around, the market supported my […] Read More...
  • Dropping Housing Prices, Rising Foreclosures Could Confirm Our Worst Fears By Jason Simpkins Staff Writer In an interview that conveyed a deep sense of economic gloom last week, former Federal Reserve Chairman Alan Greenspan told Bloomberg News that the odds of a U.S. recession remain "somewhat more" than one in three. Home prices will likely drop further, disrupting consumer spending and undermining investor confidence, Greenspan […] Read More...
  • What Nobody Will Say About The Subprime Mess By Keith Fitz-Gerald Contributing Editor I've been waiting for a few weeks to see if anybody will say it – and, not surprisingly, nobody has. So I will.    The truth about who caused the subprime mess. In my humble opinion, it was the Fed. Sure there were contributing parties, so I’m not pointing the […] Read More...
  • German Bank SachsenLB, Buffeted in Subprime Crisis, to Be Taken Over by Larger State Bank From Staff Reports Germany's Landesbank Baden-Wuerttemberg will take over SachsenLB, the smaller public-sector German bank that helped the subprime LBBW will pay $342 million as an initial measure, said Guenther Oettinger, the governor of Baden-Wuerttemberg. He said SachsenLB's owners would transfer their holdings to LBBW. SachsenLB will be part of the state-run bank in early […] Read More...
  • Where are the subprime bodies buried? By Martin HutchinsonDirector of Global Investing Research  When the subprime mortgage crisis broke in February, I assumed (like most others) that its ill effects would be confined to obscure housing finance companies within the United States – a niche of the financial sector in which I had no interest in investing anyway. But the recent […] Read More...
  • Aussie Hedge Fund Says it Benefited From Exposure to U.S. Sub-prime Mortgages HFA Holdings Ltd. (ASX: HFA), an Australian hedge fund manager that manages more than $3 billion, said it anticipated the U.S. subprime mortgage crisis. Read More...
  • Investing With Caution During a Global Financial Crisis By Martin Hutchinson Chief Global Investing Strategist In the last week, a bank in Germany and another in France got themselves into deep trouble by speculating on the U.S. sub-prime mortgage market. And yesterday (Thursday), the European Central Bank was forced to inject no less than $130 billion into the world monetary system. Stock prices […] Read More...