Zale Capital Management, L.P. specializes in investment advisory services and portfolio management.

YOU MIGHT HAVE HEARD IT HERE FIRST

September 1st, 2011

It's Deja Vu All Over Again

In my opinion, the United States will suffer its own decade or two of economic stagnation because of...Accounting!!  

In 2009, the Financial Accounting Standards Board (FASB) approved Statement 159, which allowed the banks to decide for themselves what would be the value of their assets ("mark-to-value" versus "mark-to-market").  At the time it is my belief that the banks had approximately $1 Trillion of bad debt on their balance sheets.

In my opinion, until the banks are forced to write down their bad debts and a number of high profile CEO's are summarily dismissed, we can expect to see little material increase in lending, and an economy which will continue to go nowhere.

We couldn't just let the Japanese do it one better than us, could we?  We had to compete for the most egregious form of government-financial cronyism.  Well, we might even win this World Series, and wouldn't that be pathetic?

August 24th, 2011

Because That's Where the Money is

In my opinion, raising the income tax rate on "millionaires and billionaires" will not raise nearly as much revenue as having hedge fund general partners pay ordinary income, and not capital gains, on all earned proftis.  Hampton Realtors Beware!

August 22nd, 2011

Oust Incumbents Now for Keeps (OINK)

In my opinion, the surest way to defeat the putsch of the oymoronic "professional politician" is to eliminate pension plans for all elected officials.  Get a real job.

August 19th, 2011

Vive La France

In my opinion, the European Contagion will continue until the French Banks and the French Government acknowledge and write off their Greek bad debt.  When they do, eat a madeline.

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