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Noted short seller and hedge fund manager Bill Fleckenstein was interviewed on Bloomberg TV a couple of days ago. He touched on the topics of JP Morgan and financials in general, along with his view of the European dilemma.
Fleckenstein had been quoted as saying he wouldn’t buy JP Morgan if a gun was put to his head before the recent trading losses were exposed.
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Market technician Charles Nenner of the Charles Nenner Research Center in Amsterdam was recently interviewed by Jim Puplava. Nenner said his downside target for the S&P 500 was 1325. If it breaks that level he said we would be in for a longer period of correction, but he thought it would hold with the market remaining in a trading range.
Nenner also said if the NASDAQ 100 doesn’t break 2600 he believes the the major market indices will reach new highs. However, over the longer term Nenner predicts the stock market will break down to much lower ground.
Nenner also commented on the gold and silver markets with some disturbing predictions for the metals bulls.
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Canadian hedge fund manager Eric Sprott ($9 billion assets under management) was on CNBC’s Halftime Report yesterday. The interview was conducted at the SkyBridge Alternatives (SALT) conference in Las Vegas (two videos included below).
Sprott said we had an overlevered banking system going back to the NASDAQ crash. The Lehman event exposed the overleveraged system. Lehman’s liquidation created nothing but chaos. Subsequently the powers that be (ECB, Fed, Bank of Japan) made every attempt to not let things unravel, according to Sprott.
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Berkshire Hathaway held its much followed annual meeting over the weekend. Becky Quick, Andrew Ross Sorkin and Joe Kernen interviewed Berkshire chairman and most famous investor in the world, Warren Buffett, this morning.
Buffett said he was buying stocks (two U. S. stocks he wouldn’t name, but that they already own).
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Long-time newsletter (Forecasts and Strategies) writer Mark Skousen was interviewed on the Nightly Business Report last Friday. Skousen was optimistic on the stock market, while downplaying the prospects for gold.
Skousen said the gold market looks tired with technical indiators showing a topping out pattern. He sees the era of excessive government spending and borrowing gradually coming to an end, with politicians moving towards austerity, which is bad for gold.
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Bloomberg’s Tom Keene interviewed former Federal Reserve chairman Alan Greenspan at length yesterday. Greenspan commented on a wide range of topics beginning with a discussion of the political process. Greenspan’s main point was compromise is implicit in a democratic society.
Greenspan spoke further about the “fiscal cliff” America faces referring to it as huge. He said the problem is no one wants to inflict pain on anyone under any circumstances (something he has personal experience with).
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