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Fixed income PM, former Equity Analyst, CFA, and Chicago sports fan. Contributor for CFA's Inside Investing blog. http://t.co/RGkjXGmBf9

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Join Twitter 8/25/10

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@GeorgeManiereg series has a long way to go@GeorgeManiereg terrible start!@IvanTheK we've all been there pal"Nothing in our Constitution says there's a sacred set of companies that will never be affected by new technology" http://t.co/UBmtu9KwSW
Retweeted by David Schawel@conorsen @mbusigin I roast coffee myself a few times a year - big time snob... unfortunately convenience still trumps sometimesHaving smooth fresh roasted coffee after suffering through "Char-bucks" during the week is a nice treat
@Nemo_incognito sounds like it's the big metros but need to take a deeper look@John_Hempton id be interested to see the distribution of the %'s in the US vs Sydney and the trend over time more so than absolute levels"half of all renters are now spending more than 30 percent of their income on housing" http://t.co/sKpkLBP3a1@MattVATech haha I don't live there!@jvposter was that from you or Casper?Slow day at work calls for some early 90's music http://t.co/MeaoH0sDKEHere's one for team tighter labor markets than people think http://t.co/YN2b7cItnI@oknotsomuch #FF to you for calling it "pop" #midwestisbest@groditi so you found @Morgan_03 ?I think I'm the only one logged on bloomberg IB today@SylvainBaude nice view!
The greater your wealth, the higher was your rate of return, 1987-2013 (from Piketty). http://t.co/D1ee6EoGgc
Retweeted by David SchawelWas a star football player placed above the law? http://t.co/D5U46oYcBL@ArchMcClure momentum says STL will win - Hawks need a strong start"Woman used fake $20 bills for Girl Scout cookies" Oh c'mon lady, seriously? http://t.co/mDYsjqD75f@ArchMcClure they ran out of gas, totally outplayed last 5-10mins@SylvainBaude you still like these stocks? What's the thesis?Early #FF to @tomkeene who does a great show each morning on Bloomberg radioNC teachers resigning at record pace as pay ranks near last in US http://t.co/QYpb9KlHpv@evoinvitro @IvanTheK I think soA $CMG burrito bowl is easily the best fast food out there@evoinvitro @Morgan_03 @Jesse_Livermore nah I tell him that too!!@Morgan_03 avatars of famous people in general!@17thStCap sadly in my names!@munilass no but Barry Diller won godfather rightsHave used this sell-off to add to names that I have high conviction in despite acting terribly lately. I'm either a fool or brilliant.@BlondBanker @JacobWolinsky @TigreCapital gluten free stuff is going bonkers@ElliotTurn congrats!@BlondBanker @JacobWolinsky @TigreCapital I'm a big CMG fanboy - love it@IvanTheK @DavidSchawel Brooklyn guys making standing desks on Kickstarter, does it get any more cliche?
Retweeted by David SchawelIs the standing desk a fad or here to stay?#FF to @ArchMcClure who dropped his anonymous VALGARP handle@MebFaber @BizRadio111 was on last Friday, they do a fun show!@profsufi @mbusigin @Jesse_Livermore @mark_dow @ReformedBroker @IvanTheK That's why I think it's relevant, LL issuance has exploded@Dutch_Book they are telling you different things about the labor market - both important@Dutch_Book Not saying it's not important, but with layoffs not an issue & lack of job gains the big issue - it seems marginally less imp. @Dutch_Book Clear break since since the financial crisis versus U6 - it used to track tightly http://t.co/P3zWLOx8SJHow meaningful are initial claims data at this point? Issue seems to be more about hiring than firing.@profsufi @mbusigin @Jesse_Livermore @mark_dow @ReformedBroker @IvanTheK Interesting, I'd probably include lev loans too if possibleAs good as Jimmy Fallon is, the Seth Meyers show is that bad...
@DavidSchawel agreeing with you. HY spreads have absorbed 70% of rate rise YoY. All while lev ^ & co like $BZH issue bonds with IG covenants
Retweeted by David Schawel@cpb24 true but all in loss adj yields likely much worse given lower absolute yields here@gbdavis1 suppose you could, but wouldn't be my choiceHY and IG cash spreads 100bps and 40bps tighter respectively since last April when Stein & others warned of froth/risk in carry plays@TheArmoTrader Soooo no more lakers tweets?!?!?@BromonaTheBrave I LOVE that place!@davealevine wish I knew!Too many things I'm looking at in lower grade credit just don't make sense. There's no magic asset class to rotate to for those who've askedLeveraging certain high carry bonds has been "easy" but there's nothing easy in markets & this too isn't foreverThere's obviously been an unwind of high momentum tech & biotech IPO's, my gut says it will soon be time for credit to have it's turn againSo we're arguably frothier now than last April when warning signs led to Bernanke's taper speech & unwind of leveraged carry trades@Copernicus2013 I agree there - those are just a few components, by no means does it indicate rampant inflation etc@Copernicus2013 @zerohedge that's not very good logic, of course food staples such as milk and eggs are important despite the low pricePutin's plan is a lot more involved than just regathering of old Russian lands. Success at that will undermine global unipolar status quo.
Retweeted by David Schawel@MebFaber @CambriaFunds is that mandatory?@MebFaber what do you mean?@M_C_Klein Matthew are you saying you don't like going home at night?@bravo0123 @okay_then @DividendMaster do you think that's relevant on today's holdings 4.5 months later & at vastly tighter spreads?@bravo0123 @okay_then @DividendMaster good catch, will be interesting to see@bravo0123 @okay_then @DividendMaster it's updated for 3/31, the UNII is negativeCome to NC in May w/ #KirilSokoloff #JohnBurbank #BurtonMalkiel #VanHoisington #DavidHornik #DavidZervos #DanClifton http://t.co/8JcJqyXaVs
Retweeted by David Schawel@DividendMaster it's getting really rich, I'm more of a seller here@StockJockey happy to own this business at these levels,don't view it as a trading vehicle or worry about ebbs/flows if they keep performing@StockJockey story hasn't changed, loss adj yields for 4Q results were good & ABS funding environment has improved lowering funding costs@DavidSchawel get hundreds of calls every time I have a rental open. Problem is maybe 1 out of 10 can afford 1st last and sec. Peeps r broke
Retweeted by David SchawelThis economic recovery is strange & always seems to have data points for bulls and bears alike@DividendMaster if people wouldn't buy with 30y mortgages at 3.5% I'm not sure subprime will helpIMO Weak housing: low 25-54 employment, some lack down pmt, some w tarnished credit history, others choose to rent despite cheaper to ownA little sobering: not much growth in building permits, which were running 1.2% below last year's level in March http://t.co/HpozS9bBlG
Retweeted by David SchawelAwfully disappointing permits number
Rally in the 30y UST has been dismissed by most as anything other than the 10s30s normalizing but maybe there's more http://t.co/iITRio6GfCJackie Robinson day (all players wear #42), celebrated today in MLB, is one of the coolest honors done in professional sports today@talktoskirt sounds like a line from saved by the bell@The_Analyst I think you're NJ/NY for life!@The_Analyst atta boy@WillardOfOdds you mean @eradke ?@The_Real_Fly Fly, you're a gentleman and a scholar. That is all.@The_Analyst no one is making you live there!@MacroHedge @MarkYusko it really is a tough environment - but it's honestly a lot more fun@BarbarianCap "Emerging HF manager swallows his pride, starts investor newsletter to challenge Whitney Tilson's dominance"WSJ: Moelis prices at $25 a share, a buck below range. @MattJarzemsky
Retweeted by David Schawel@IvanTheK knew you'd love that one@TheStalwart mama miaStarting to sell down one of my core holdings $PDI which I've tweeted about since mid 2012. Loss adj yields no longer as compellingSquare 1 Financial Banks On Entrepreneurial Clients http://t.co/VeJmvn9TLj@ReformedBroker he was just singing Frozen to New YorkersTesla under $190...because its an electric car, it's very quiet when it falls...$tsla
Retweeted by David SchawelWholesale funding isn't all bad though - locking in term funding at these rates for certain institutions can make senseObviously core funded banks won't face any issues w/ wholesale funding capital charges but banks w/out retail presence could be vulnerable@dlacalle Ummm, I think you're confusing the type of liquidity I'm referring to. Liquidity of individual banks =/= Fed provided liquidity@georgepearkes that's one of the smartest things I've heard said on twitter w/r/t banking - well done@DavidSchawel this was my conclusion in my otherwise painful senior thesis on CoCo's. Capital is accounting, liquidity is a reality.
Retweeted by David SchawelFed and Yellen's focus on liquidity in the banking sector is refreshing - it's what usually kills banks in the time of crisis not capital@RuthlessGravity Not sure, but there's big implications on the fall in implied vol & subsequent attractiveness of things such as MBS basis
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