Sovestor007's blog

There are tremendous numbers of tasks and problems that Obama and his soon-to-be-formed administration' shoulders are facing. The market reality and new politics are soon being converged and tested as the widening economic crisis that has affected virtually all the countries in the world has not yet shown a sign of significant easing. In fact, now many countries including US are entering recession if not depression. Obama's hands are now full. American people now have very high hope that his soon-to-be-announced economic picks can truly deliver.

Read more for Obama Victory Speech in Chicago on Nov 4, 2008.

Global financial crisis is deepening. However, this crisis shall pass just like any other crisis in the past. The question is how deep and how long. The current global bear market and recession this time appear to be a painfully long-one and very close-relative to US recession in 1930s. As such, investors and business people should be patience and use their common-sense. What people should consider nowadays...

Prudent investors nowadays are increasingly perplexed with the size of Credit Default Swap Market (~$60 trillion notional market size - four times the size of the U.S. debt!) and the fact that it is so far still unregulated by US government. Government officials apparently do not have clear understanding on how the credit default swap works and the level of systemic risks and cascading effects of a failing unregulated phantom market. To start regulating the market now is perhaps too late. The credit market has been collapsing; and in particular, credit default swap market is very prone to major irreversible systemic collapse that could potentially bring down many financial institutions globally.

Here is a video from CBS: A Look At Wall Street's Shadow Market. In this video, Steve Kroft, CBS correspondent, looks at some of the arcane Wall Street financial instruments that have magnified the economic crisis. He discussed the phantom credit default swap market with Jim Grant, the editor of "Grant's Interest Rate Observer" and Frank Partnoy, a former derivatives broker and corporate securities attorney, who now teaches law at the University of San Diego.

Source: CBS

The Snowball: Warren Buffett and the Business of Life By Alice Schroeder Alice Schroeder's book has been eagerly anticipated because it is the first one Warren Buffett has cooperated with. The book delves deep into Mr. Buffett's personal life as well as his business record to show what's behind his ideas and principles. This highly anticipated book debuted Monday. Alice also will also release a series of eight online videos starting Monday which will offer a glimpse into billionaire Warren Buffett's life in Omaha. A new video will be posted each week until Nov. 18 on http://www.youtube.com/thesnowballbook. CLICK HERE TO ORDER THE BOOK.

"Our favorite holding period is forever." ~ Warren Buffett

To understand the modern world of investing, risk management, and collisions between certain economic forces globally, listen to the following exclusive interview video of Mohamed El-Erian, co-CEO of PIMCO with Charlies Rose in July 24, 2008:

Source: Charlie Rose

"There are times, as they say, when you worry about the return on your capital, and there are times when you worry about the return of your capital. These days you should worry about the return of your capital." ~ Mohamed El-Erian

Read more...

 

Founding father of modern Singapore and the Minister Mentor Mr. Lee Kuan Yew talks in this interview video with Bloomberg in May 2008 about the objectives of Singapore's Govt. of Singapore Investment Corp (GIC) or more commonly called 'Temasek':
- Transparency is not necessarily a good thing for Temasek in order to reduce people's expectations and to prevent people speculating what GIC moves will be next.
- GIC (Temasek) is long-term investor with at least 5-10 years investment horizon.
- Temasek invests in distressed assets for the long-term.

Source: IRTAGMedia, Bloomberg, YouTube

Read more detail...

I.O.U.S.A.: Live with Warren Buffett, Pete Peterson & Dave Walker in an exclusive one night event in select movie theatres nationwide. This event will include the critically-acclaimed documentary, I.O.U.S.A., and a LIVE discussion about America's economic crisis and what we can do to change course. 

(Sources: iousathemovie.com and FathomEvents.com)

Event date: August 21 , 2008 - Exclusive In-Theatre Event

The live discussion with America's most notable financial leaders and policy experts, including Warren Buffett, CEO of Berkshire Hathaway; William Niskanen, chairman of the CATO Institute; Bill Novelli, CEO of AARP; Pete Peterson, senior chairman of The Blackstone Group and chairman of the Peter G. Peterson Foundation; and Dave Walker, president & CEO of the Peter G. Peterson Foundation and former U.S. Comptroller General, promises riveting dialogue and keen insight into the crisis we currently face.

I.O.U.S.A. Movie Trailer

For more detail on this exclusive movie event and bonus movie reels, please click the title of this blog entry.

Share and forward this movie event to your friends and colleagues. I.O.U.S.A.: Live with Warren Buffett, Pete Peterson & Dave Walker is unprecedented and very timely movie for the current US economic condition that you do not want to miss!

"Chains of habit are too light to be felt until they are too heavy to be broken." ~ Warren E. Buffett

 

Video of George Soros, Chairman, Soros Fund Management LLC; Author, The New Paradigm for Financial Markets: The Credit Crash of 2008 and What It Means speaking at the Council on Foreign Relations on May 7, 2008 discussing the credit crunch. Presider: Sebastian Mallaby, Deputy Director of Studies, Director of the Maurice R. Greenberg Center for Geoeconomic Studies, and Paul A. Volcker Senior Fellow for International Economics, Council on Foreign Relations.

 

Mr. Carl Icahn, one of the most influential hedge fund managers in the world, served as the graduation speaker at Drexel University's LeBow College of Business June 14, 2008, commencement ceremony, where he spoke about his career, the economy, and corporate directors, and offered graduates advice. He was awarded a Doctor of Business Administration honoris causa at the event. Here is the video of Carl Icahn's commencement speech:

Some billionaires like to blog and write articles on their official sites. Here is list of multi-billionaires sites or blogs.