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The author David Stockman
David Stockman
David Alan Stockman (born November 10, 1946) is a former businessman and U.S. politician who served as a Republican U.S. Representative from the state of Michigan (1977–1981) and as the Director of the Office of Management and Budget (1981–1985) under President Ronald Reagan.

David Stockman’s Contra Corner

Hey, Donald! Mueller Found No Collusion But Slathered You In Plenty Of Deep State Agit Prop And Lies

But the Mueller report left unscathed the central-but-unproven allegation that the Russian government hacked into the DNC and Podesta emails, gave them to WikiLeaks to publish, and helped you win the election. The thrust will be the same; namely, even if there is a lack of evidence that you colluded with Russian President Vladimir Putin, you have him to thank for becoming...

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Pick, Roll & Dunk: How Private Equity Has Gutted Retail

Since I first wrote about private equity’s looting and ultimate devastation of Mervyn’s (“On Private Equity and Real Estate” September 2012, behind paywall), retailer after retailer has been similarly gutted. Payless Shoes, Toys ‘R’ Us, Gymboree, Sears Holding, Mattress Firm and Radio Shack — all companies at one point owned or controlled by private equity firms — have since...

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Bernie Turns Dovish Just As The Donald Caves To The War Party On Iran, China, Yemen, Syria, Ukraine, INF, NATO, Venezuela, Military Spending

It is not: Trump may have just ceded the peace issue in 2020 to the Democrats. If Sanders emerges as the nominee, we will have an election with a Democrat running on the “no-more-wars” theme Trump touted in 2016. And Trump will be left defending the bombing of Yemeni rebels and civilians by Crown Prince Mohammed bin Salman of Saudi Arabia....

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The Other March To Madness: “Final Six” Account For 37% of Total Stock Market Gain In Last 5 Years

.......of all the S&P 500’s value creation over the last 5 years: Amazon (10.1%), Apple (6.5%), Facebook (4.7%), Google (6.4%), Microsoft (7.8%), and Netflix (1.8%). And even though NFLX may look small, its increase in market value over the last 5 years is essentially the same as JP Morgan’s. US equity valuations reflect present and future Tech disruption. No other narrative...

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So-Called “Earnings” Season Again—-If You Can’t Make It, “Adjust” It!

Names like Enron, Worldcom, Global Crossing, Lucent Technologies, and a vast graveyard of others have long been forgotten and are now ancient artifacts of an age gone by. Much like then, today we see companies going public like Lyft, Uber, Instagram, and others who have massive cash burn rates, little to no prospect for profitability in the near future, and astronomical...

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