Tom Spencer

NOVEMBER 27, 2011

Over the last few decades, countless risky financial products were sold to investors using harmless sounding terms like “credit default swap”, “mortgage backed security”, “special purpose vehicle” and “off-balance sheet financing”. Copyright © 2013 Tom Spencer. Categories. Select Category. Business Frameworks. Leadership.

Balance Sheet 89

Balance Sheet Consulting Case Interview Financial 89

MishTalk

AUGUST 8, 2013

In Fed Balance Sheet vs. Stock Market; Will QE Cause Inflation? Fed Balance Sheet vs. Stock Market. International reserves, excluding gold, as reported by Bloomberg, courtesy of Doug Noland at www.prudentbear.com on July 26, 2013, stood at $11.167 Trillion dollars.

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Balance Sheet Banking Marketing Report 75

Women in Consulting

FEBRUARY 20, 2014

By: Renee Daggett In September 2013, the IRS released new rules regarding expensing repairs/supplies and depreciating assets. into office supplies, these items must now be put on the balance sheet and depreciated and tracked. Any purchase of non-consumable items over $200 must be separately tracked and depreciated.

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Balance Sheet Guidelines Policies Small Business 82

MishTalk

JUNE 26, 2013

Wednesday, June 26, 2013 12:10 PM. Bernanke says the US economy is solid enough that the Fed can begin tapering its balance sheet purchases later this year. Given the stock and bond market bubbles the Fed has created, the Fed of course should taper (not that it should ever have expanded its balance sheet in the first place).

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Balance Sheet Real Estate Financial Advertising 68

MishTalk

NOVEMBER 27, 2013

Draghiz e: "The test is credible because the ultimate purpose of it is to restore or strengthen private sector confidence in the soundness of the banks, in the quality of their balance sheets" Mish : The test is credible because we say it is.

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Balance Sheet Exercises Banking Government 66

MishTalk

DECEMBER 4, 2013

trillion in mortgage-backed securities in the United States so far in 2013. The answer to that question is that we no longer have things like 20-year and 30-year mortgages because banks are not going to put that type of mortgage on their balance sheets. If Fannie and Freddie go away, what then happens to the mortgage markets?"

Government 74

Government Balance Sheet Real Estate Banking 74

MishTalk

JULY 30, 2014

In 2013, Germany ranked fifth, behind the United Kingdom, Netherlands, South Korea and Italy in imports of U.S. That’s because it shifts some pollution — and the burden for cleaning it — onto another other country’s balance sheet. increasingly has helped supply. steam coal, the type burned in power plants.

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Balance Sheet Enterprise Energy Banking 72

Women in Consulting

JANUARY 9, 2014

If there are deposits in the bank account that did not come from customers/clients , make sure these loans are posted on the balance sheet and NOT in your income total. ? For 2013, the total amount that can be taken is $159,000. If there are, your income or expenses can be overstated, meaning they are wrong!

Insurance 70

Insurance Insurance Balance Sheet Travel 70

MishTalk

DECEMBER 18, 2013

Details show the alleged rainy-day fund is a pathetic €12.5bn of joint funds not available until 2020, even though 128 banks covered in the agreement have an aggregate balance sheet somewhere between €26 trillion and €27 trillion. Now that we know what subordinated debt is, it''s easy to understand the increase in issuance.

Banking 71

Banking Balance Sheet Finance Government 71

MishTalk

NOVEMBER 20, 2015

factory activity grew last month at its slowest pace since May 2013 as manufacturers pared their stockpiles and cut jobs. Overoptimism 2011-2013 A notable feature of the SEP growth forecasts for 2011 through 2013 are the extremely high starting values—around 4% or higher. in October from 50.2 in September.

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Balance Sheet Banking Study Policies 28

Harvard Business

SEPTEMBER 16, 2016

For example, at the end of its 2015 fiscal year, Apple’s balance sheet stated tangible assets of $290 billion as a contribution to its annual revenues, with approximately $141 billion worth of intangible assets — a combination of intellectual capital, brand equity, and (investor and consumer) goodwill.

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Data Balance Sheet Enterprise Insurance 28

MishTalk

DECEMBER 12, 2015

In 2013, Ally agreed to contribute $1.95 As of June 30, 2013, Ally ceased new mortgage loan originations, the company said at the time. The company also sold off the last of its mortgage servicing rights in the second quarter of 2013.

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Mercer Balance Sheet Automotive Banking 28

MishTalk

JULY 11, 2014

Gross issuance in the high-yield bond market alone soared to $90 billion per quarter in 2013 from a pre-crisis quarterly average of $30 billion. In the syndicated loan market, for instance, credit granted to lower-rated leveraged borrowers (leveraged loans) exceeded 40% of new signings for much of 2013.

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Balance Sheet Financial Banking Policies 74

MishTalk

JUNE 28, 2013

Saturday, June 29, 2013 1:21 AM. While these reforms may improve FHAs balance sheet over the long term, they would also reduce market liquidity, which in turn could cause home prices to fall. August 2013 (16). July 2013 (82). June 2013 (70). May 2013 (82). April 2013 (85). March 2013 (100).

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Analysis Trends Real Estate Case Interview 74

MishTalk

JUNE 9, 2015

Chart #2: Growing Payments While the current state of the city’s balance sheet is dismal, the real problem relates to what is expected to develop over the next decade. For fiscal 2013, Chicago’s various pension plans were assuming annual rates of returns ranging from 7.5 Per capita income estimate is for Cook County.

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Balance Sheet Data Insurance Insurance 28

MishTalk

NOVEMBER 6, 2015

This observation can be confirmed by examining the flows of the balance of payments over the 12 months period from August 2013 to July 2014, during which the target2 liabilities of the bank of Italia consistently decreased. When domestic investors sell government bonds, the proceeds increase their deposits on their bank accounts.

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Balance Sheet Banking Government Financial 28

MishTalk

JULY 16, 2014

versus the average output level of 2013. Rather than repairing its balance sheet by reducing debt, the U.S. in the third quarter of 2013. With inflation widely expected to rise in the 1.5% range, arithmetic suggests that real GDP in 2014 will expand between 1.0% This is akin to pre-recessionary conditions.

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Balance Sheet Financial Analysis Policies 68

MishTalk

JANUARY 23, 2015

German 10-Year Bond Yield click on chart for sharper image Since September of 2013, yield on the German 10-year bond has plunged from around 2% to 0.367%. Banks and insurers need Germany’s AAA securities to bolster their balance sheets and pension funds mop up bunds to match their liabilities.

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Balance Sheet Banking Government Insurance 28

MishTalk

JUNE 27, 2013

Thursday, June 27, 2013 2:46 PM. But one way or another we do have to write down the huge hidden losses in the country’s balance sheet, and this will mean not a collapse but rather many years of Japanese-style slow growth as the system grinds its way though its excesses. August 2013 (16). July 2013 (82).

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Analysis Trends Real Estate Banking 70

MishTalk

JULY 10, 2013

Wednesday, July 10, 2013 2:41 PM. Following is a snip from the June 18-19, 2013 Minutes of the Federal Open Market Committee , released today. percent for 2013, 3.0 Participants also described their views regarding the appropriate path of the Federal Reserves balance sheet. percent at the end of 2013, 6.5

Real Estate 61

Real Estate Financial Policies Advertising 61

MishTalk

DECEMBER 26, 2013

It is continuing to expand at twice the rate of nominal, or money, gross domestic product, and according to official data has pushed the credit to GDP ratio up to 215 per cent in 2013, and most likely more. But it is hard not to conclude that the authorities remain conflicted.

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Balance Sheet Marketing Banking Financial 67

MishTalk

JULY 2, 2013

Tuesday, July 02, 2013 1:59 PM. Contrary to 1979/1980, the current gold bull market will unlikely end due to a sudden strong rise in interest rates, as the balance sheets of governments, households and corporations are tainted by huge debt. August 2013 (16). July 2013 (82). June 2013 (70). May 2013 (82).

Trends 63

Trends Analysis Real Estate Financial 63

MishTalk

JANUARY 28, 2014

"Industrial and Commercial Bank of China, the world''s largest bank by assets, said on Thursday that it has no plans to use its own money to repay investors in a troubled off-balance-sheet investment product that it helped to market." Investors should have taken a hit. Certainly the promised 10% yield was too good to be true.

Banking 72

Banking Balance Sheet Productivity Financial 72

MishTalk

JANUARY 10, 2015

In October 2013, after two previous stress tests blew sky high, ECB president Mario Draghi announced that he would not hesitate to fail banks in the third test. But most have already taken steps to solve their problems since the end of 2013, the cutoff date for the exercise. Please note that the largest shortfall was a 2.11

Banking 28

Banking Balance Sheet Exercises Journal 28

Harvard Business

JULY 15, 2016

The company filed for bankruptcy protection in 2012, exited legacy businesses and sold off its patents before re-emerging as a sharply smaller company in 2013. After all, they have many capabilities that entrants are racing to replicate, such as access to markets, technologies, and healthy balance sheets. Why did this happen?

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Film Balance Sheet Chemicals Engineering 28

MishTalk

NOVEMBER 19, 2015

on 10/29/2013. equity strategist and the firm's portfolio strategy research team note that narrow market breadth, with just a handful of strong performers carrying the load for a slew of weaker performers, tends to favor high-quality stocks with strong balance sheets and lower volatility. It is now $53.85. Dell is now private.

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Balance Sheet Marketing Finance Company 28

MishTalk

DECEMBER 26, 2014

This isn’t the first time, of course, that the balance-sheet dynamics during a growth miracle have created unrealistic evaluations about the quality of policymaking. Pettis provides a great deal of information I skip in these excerpts about the transition of China''s growth, and expectations about that growth.

Banking 71

Banking System Benchmarking Finance 71

MishTalk

JUNE 30, 2013

Sunday, June 30, 2013 10:06 PM. And the recent cash crunch in the interbank market is likely to slow expansion of off-balance sheet lending, further exacerbating funding conditions for SMEs. August 2013 (16). July 2013 (82). June 2013 (70). May 2013 (82). April 2013 (85). March 2013 (100).

Analysis 72

Analysis Trends Real Estate Financial 72

MishTalk

OCTOBER 8, 2015

Bombshell Event of the Year" Peter Schiff predicted a Bombshell Event in November of 2013. Bombshell Quotes The following "bombshell" quotes are from The Schiff Report (11/22/2013). "If If China isn't going to expand its balance sheet anymore, that means it has to stop buying treasuries. So what's it mean?

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Balance Sheet Telecommunications Video Analysis 28

MishTalk

DECEMBER 9, 2013

Greece’s creditor structure in 2013 compared to the point of departure in 2010 hardly bears any resemblance. Prior to the conclusion of the first economic adjustment programme more than 85 percent of Greece’s sovereign debt was held by private institutions. In essence, they bailed out banks and put taxpayers at risk.

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Balance Sheet Financial Government Finance 77

MishTalk

DECEMBER 25, 2013

Any model that predicts China’s future GDP growth must include, if it is to be valid, a variable that reflects estimates of the amount of hidden losses buried in the banks’ balance sheets. This will be the last issue of 2013 before the holidays. I wish my readers a great 2014. Stay tuned.

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Balance Sheet Banking Policies Financial 67

MishTalk

JANUARY 21, 2016

Keynesian Inflation Nonsense The Wall Street Journal points out " The annual inflation rate in the 19-country currency area has been far below the central bank’s medium-term target of just below 2% since late 2013. Consumer price inflation, called Harmonized Index of Consumer Prices (HICP) in Europe, is indeed lower than what the ECB wants.

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Balance Sheet Conference Banking Journal 28

Harvard Business

MAY 9, 2018

Walter Thompson Company for $566 million in 1987 and Ogilvy for $864 million in 1989 — big acquisitions that stretched the company’s balance sheet. In 2013 PCC acquired Permaswage SAS, a manufacturer of aerospace fluid fittings, for $600 million and divested its Primus Composites business.

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Research Balance Sheet Industry Sales 28

MishTalk

NOVEMBER 24, 2015

With its balance sheet totalling nearly 1.6 Federal Reserve chair, said at her confirmation hearing in November 2013 that even a deposit rate that’s positive but close to zero could disrupt the money markets that help fund financial institutions. The big Swiss banks passed on some of the pain from the Swiss central bank’s -0.75

Banking 28

Banking Benchmarking Balance Sheet Policies 28

MishTalk

MARCH 17, 2014

This model rests on an understanding of how distortions in the savings rates of different countries have driven the great trade and balance-sheet distortions with which we are wrestling today, just as they have in most previous global crises, including those of the 1870s, the 1930s, and the 1970s. economy.

Banking 67

Banking Real Estate Productivity Policies 67

MishTalk

JANUARY 3, 2014

Had I suggested in 2007 that the Fed balance sheet expansion of $75 billion a month would have been considered "tightening" people would have thought I was nuts. 2013 is likely to be the tip of the bubble belief in Merkel. However, I certainly did not get my 2013 investment thesis correct. Here we are.

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Conference Banking Government Balance Sheet 74