Tom Spencer

AUGUST 25, 2018

The story of the 2008 financial crisis begins somewhere shortly after the death of Jesus Christ himself. Not 33 years after Christ’s passing did Emperor Tiberius of the Roman Empire have to rescue his constituents’ financial sanctity through the age-old process of quantitative easing. This same tale has repeated time and time again.

Financial 60

Financial Balance Sheet Banking Policies 60

Tom Spencer

MAY 2, 2020

Since the start of February this year, the Fed has expanded its balance sheet by more than $2.4 To put that in context, the Fed was created in 1913, and its total balance sheet assets only reached $2.4 trillion in assets, but only 2 months to achieve the same amount of balance sheet expansion this year.

Balance Sheet 88

Balance Sheet Government System Finance 88

Tom Spencer

NOVEMBER 17, 2018

My friends and I walked out of the Big Short several years ago feeling like a group of global financial crisis experts. Many an economics and finance course later, I see that the layers of complexities to the 2008 financial crisis are innumerable. MBS are financial assets with a claim on a pool of mortgages. trillion.

Financial 60

Financial Banking Balance Sheet Cash Flow 60

MishTalk

AUGUST 6, 2013

Minyanville Business and Market News. Balanced Budget Ammendment Sign the Balanced Budget Petition. China Financial Markets. Financial Sense. Market Oracle. Market Ticker. Real Clear Markets. Reader Question: Does the Fed Balance Sheet Properly Reflect QE Announcements?

Balance Sheet 64

Balance Sheet Analysis Trends Real Estate 64

MishTalk

MARCH 28, 2014

reader Dave, a friend, noted that as the Fed jacked up its balance sheet, velocity has mirrored the curve to the downside. Privatize the Gains, Socialize the Losses Last time, Tim Geithner preached to Congress that financial Armageddon was right around the corner if Congress failed to pass a resuce package.

Banking 75

Banking Balance Sheet System Financial 75

MishTalk

SEPTEMBER 30, 2014

On September 4, ECB President pulled out a financial bazooka including a pledge to build up the ECB''s balance sheet by another €1 trillion. In this case, the stench on Greek bank balance sheets will not go away. Instead, stench will also appear on the balance sheet of the ECB.

Balance Sheet 75

Balance Sheet Real Estate Banking Policies 75

Harvard Business

MARCH 14, 2017

Loyalty programs have proliferated across travel, retail, financial services, and other economic sectors. First, blockchain could help relieve a large balance-sheet liability that many in the industry are facing. The average U.S. Early adopters could benefit considerably.

Travel 134

Travel Balance Sheet Hotels Airlines 134

Harvard Business

OCTOBER 31, 2017

The market panicked. Many other financial firms including AIG, Fannie Mae, and Freddie Mac needed bail outs. It may feel as though the financial system hasn’t changed much in the decade since the downturn, but it has. Defaults on subprime mortgage loans mounted. There was a run on British bank Northern Rock.

Banking 71

Banking Balance Sheet Financial Finance 71

MishTalk

MARCH 19, 2014

Adair Turner, former Chairman of the United Kingdom’s Financial Services Authority, and current member of the UK’s Financial Policy Committee and the House of Lords proposes a need to Rethink the Monetization Taboo. The Fed’s tapering merely slows the growth of its balance sheet.

Balance Sheet 67

Balance Sheet Banking Government Policies 67

MishTalk

SEPTEMBER 4, 2014

Draghi Has it Backwards A director at a global financial company with offices worldwide pinged me in response to my post ECB''s €40bn Stimulus Gamble: ECB Pulls Out Bazooka, Cuts Rates, Buys Assets; Will this Stimulate Lending? An increase in the ECB''s balance sheet to that size would imply something on the order of one trillion euros.

Balance Sheet 76

Balance Sheet Real Estate Banking Operations 76

Tom Spencer

SEPTEMBER 19, 2020

The travel and hospitality industries have been decimated, stock markets around the world have tanked, and governments struggle to combat this devil on so many fronts. During the dotcom bubble, the financial crisis, and the real estate bubble, what did consulting firms do? Commerce has ground to a halt. Today, not so much.

Consulting 103

Consulting Balance Sheet Cash Flow Real Estate 103

MishTalk

DECEMBER 23, 2013

An exceptional bid by China’s central bank to curb soaring interest rates and relieve pressure on the financial system appeared to have come up short on Monday, as Chinese money market rates shrugged off the measure and continued to approach the crisis levels seen in June. Don''t worry. There isn''t a cash crunch because China says so.

Balance Sheet 75

Balance Sheet Banking Benchmarking Financial 75

MishTalk

DECEMBER 14, 2015

Merits of Not Shrinking the Balloon When the Fed first launched QE, they stated they had the "tools" necessary to shrink their ballooning balance sheet. Once the Federal Reserve lifts interest rates from near zero, likely this week, the focus will turn to the other legacy of the crisis-era policies: the Fed's swollen balance sheet.

Balance Sheet 28

Balance Sheet Banking Tools Policies 28

MishTalk

NOVEMBER 20, 2013

Banks; Global Financial System is Bankrupt. The effects of a system that ''encourages excessive financial leverage''. trillion balance sheet is leveraged nearly 49-to-1. As a group, these three banks have some €4 trillion in assets on their balance sheets, supported by €129.3 By contrast, J.P. Paris, France.

Balance Sheet 78

Balance Sheet Banking Financial Finance 78

MishTalk

JANUARY 26, 2016

Fed Balance Sheet vs. S&P 500 I was playing around with some ideas on the St Louis Fed "Fred" database and came up with this. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction.

Balance Sheet 28

Balance Sheet Engineering Financial Management 28

Tom Spencer

APRIL 21, 2023

Understanding Equity Research The role of an equity researcher is to analyze financial data, industry trends, and other information to create detailed reports on specific companies or sectors. One of the key responsibilities of an equity researcher is to conduct financial analysis.

Research 88

Research Balance Sheet Cash Flow Analysis 88

Harvard Business

JULY 12, 2017

And yet trust in business institutions, and the financial services sector in particular, is at an all-time low. It breeds indifference, which in turn breeds a yawning gap between underwriters, whose balance sheets absorb risk (the risk takers), and customers, whose enterprises create risks (the risk makers).

Insurance 131

Insurance Insurance Industry Balance Sheet 131

MishTalk

MAY 20, 2014

Yesterday, former fed chair Ben Bernanke said " No Need for Fed to Shrink Balance Sheet ". The Federal Reserve does not need to shrink its $4 trillion-plus balance sheet by even "a dime" for it to normalize monetary policy when the time comes, former Fed Chair Ben Bernanke said on Monday.

Balance Sheet 59

Balance Sheet Strategy Strategy& Strategy 59

MishTalk

DECEMBER 26, 2013

China''s Move to Market-Set Rates Let''s step back to December 8 and look at China Relaxes Grip on Interest Rates China is relaxing its grip on interest rates with the launch of a financial instrument that allows banks to trade deposits with each other at market-determined prices. China’s credit boom is still in full swing.

Balance Sheet 63

Balance Sheet Marketing Banking Financial 63

MishTalk

NOVEMBER 6, 2014

Having already cut interest rates to record lows and saying they can go no lower, Draghi is now focused on boosting the ECB’s balance sheet. We are quite confident that the impact on our balance sheet size will be adequate, will be significant, will be sizable,” Draghi said. trillion] more than the current level.

Balance Sheet 69

Balance Sheet Banking Government Policies 69

MishTalk

JULY 11, 2014

The BIS slam, coupled with a recent stock market selloff, brought up debate on a " controlled collapse ". Financial fluctuations (“financial cycles”) that can end in banking crises such as the recent one last much longer than business cycles. Yet financial cycles can go largely undetected.

Balance Sheet 73

Balance Sheet Financial Banking Policies 73

MishTalk

JUNE 26, 2013

Minyanville Business and Market News. Balanced Budget Ammendment Sign the Balanced Budget Petition. China Financial Markets. Financial Sense. Market Oracle. Market Ticker. Real Clear Markets. The Financial Times reports ECB exit from easing remains far off, Draghi says.

Balance Sheet 65

Balance Sheet Real Estate Financial Case Interview 65

MishTalk

OCTOBER 26, 2014

48 Billion Shortfall The Financial Times reports ECB Says Banks Overvalued Assets by €48bn. The results of the ECB’s examination of balance sheets worth €22tn, known as the Asset Quality Review, will require the 130 lenders who took part in the exercise to adjust the value of their assets in their accounts or prudential requirements.

Balance Sheet 75

Balance Sheet Banking Exercises Report 75

Tom Spencer

OCTOBER 6, 2023

Firstly, by outlining the major items on a bank’s income statement, and then by discussing key ratios that are commonly used to measure profitability and to estimate the market value for banks. It reflects the bank’s assessment of potential losses it may incur and its commitment to maintaining a strong balance sheet.

Banking 88

Banking Balance Sheet Operations Financial 88

Harvard Business

SEPTEMBER 25, 2017

It has been 10 years since the global financial crisis, and the fall-out continues in the industry that was at its epicenter: banking. There has been a truly dramatic retrenchment from foreign markets, making banking a rare case of an industry becoming less, rather than more, global. And so their focus returned to domestic business.

Banking 71

Banking Balance Sheet McKinsey Finance 71

MishTalk

JANUARY 16, 2014

Ignazio Angeloni, who is head of the ECB’s financial stability directorate, said in Frankfurt “ We’ve got a feasible but safe capital cushion of 8 percent. What looked like was going to be a strict stance of the European Central Bank (ECB) regarding sovereign debt portfolios of financial institutions, is not so.

Balance Sheet 73

Balance Sheet Banking Exercises Financial 73

MishTalk

MARCH 24, 2014

I have to admit (time and time again actually), that this market has gone further, faster, than I thought possible. Over Next Seven Years, Market Will have Negative Returns" I strongly encourage you to read an interview of Jeremy Grantham, by Stephen Gandel, senior editor of Fortune : The Fed is Killing the Recovery. Grantham : No.

Marketing 68

Marketing Balance Sheet Interviews Benchmarking 68

MishTalk

DECEMBER 24, 2013

Wolf Richter at the Testosterone Pit commented on Gagging Doubt: French Crackdown On French And American Bloggers Who Question Megabank Balance Sheets The France''s Financial Markets Authority (AMF) announced on Nov. How are we to even know?

Balance Sheet 74

Balance Sheet Banking Financial Journal 74

Harvard Business

MAY 28, 2018

Then a new CFO joined the company: Masashi Oka, a financial industry veteran who had played a key role in transforming Mitsubishi UFJ Financial Group-owned Union Bank in the US. ” The company took note and duly committed to reducing costs at a rate exceeding market contraction. What he heard was uncomfortable.

Company 101

Company Balance Sheet Cash Flow Interviews 101

Harvard Business

NOVEMBER 22, 2016

The financial services firm USAA prizes its relationships with customers and consistently earns the highest customer loyalty scores in the industry for both its U.S. In the past, marketers have struggled to deliver the higher response rates they need from existing customers — a smaller group than potential new customers.

Balance Sheet 70

Balance Sheet Insurance Insurance Data 70

Harvard Business

MARCH 30, 2017

In it, the authors, both sociologists, made a compelling argument that, to understand labor market outcomes like inequality, it wasn’t enough to look at the supply and demand for individuals’ skills. However, any discussion of firms and wage inequality must not be limited to discussion of market forces. Related Video.

Marketing 70

Marketing Balance Sheet System Training 70

Tom Spencer

OCTOBER 26, 2019

Depending on the firm and specific role this case could be very strategic and operational like doing a market entry/growth-type case or very technical (i.e. building financial models like DCF, accretion/dilution, LBO, etc.). Reduced labor costs : eliminating staffing redundancies can help reduce costs. Potential Drawbacks.

Balance Sheet 60

Balance Sheet Case Interview Case Study Case Studies 60

Harvard Business

JUNE 11, 2018

On the flip side, a strategic transaction can catapult a company into first-mover position, give a speed to market advantage over rivals, and potentially let a larger company run away with a new market. There are a host of things that lead to failure — financial losses, stock drops, lost market opportunities, fizzled dreams.

Intellectual Property 93

Intellectual Property How To Balance Sheet Emotional Intelligence 93

Tom Spencer

NOVEMBER 9, 2019

Historically, commercial banking and investment banking functions have been separated by law – these restrictions have since been repealed and larger banks tend to take on capital markets operations due to the complimentary nature of the businesses. In secondary markets, the sales & trading function operates as a market maker.

Banking 12

Banking Industry Balance Sheet Retail 12

Harvard Business

OCTOBER 20, 2016

Meanwhile the Institute of International Finance forecasted net capital flows for emerging markets in 2015 would be negative for the first time since 1988. trillion, or 9%, over the past two years, and at just $646 billion, foreign direct investment in rich economies last year represented a 40% drop from the peak before the financial crisis.

Balance Sheet 70

Balance Sheet Policies Banking Operations 70

Harvard Business

APRIL 26, 2017

Even in healthier financial times, such as now, firms often downsize because it is seen as a way to reduce costs, adjust structures, and create leaner, more efficient workplaces. Many of these effects may have long-term consequences, like reduced innovation, that are not captured in short-term financial metrics.

Company 71

Company Balance Sheet Resources Financial 71

MishTalk

OCTOBER 21, 2014

From this perspective of the bond market, Europe has become Japan. I read the most extraordinary thing in the Financial Times the other day. Two days ago, I wrote Challenge to Keynesians "Prove Rising Prices Provide an Overall Economic Benefit " also in response to an article in the Financial Times. Dark cloud?

Conference 68

Conference Video Policies Balance Sheet 68