Investing and Trading News, with a Contrarian, Sarcastic Twist!
If this is true – it sure is classic Goldman! ZeroHedge reports: In the latest Perspectives from Goldman Sachs Asset Management (intended FOR BROKER-DEALER, FINANCIAL INSTITUTION, OR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR DISTRIBUTION TO CLIENTS OR THE GENERAL PUBLIC), in addition to summarizing all the other recent actions presented by the firm’s key departments, […]
Our unofficial “Deflation Chancellor”, David Rosenberg, penned an excellent rebuttal to a WSJ Op-Ed piece by Jeremy Siegel and Jeremy Schwartz entitled The Great American Bond Bubble. Rosenberg dispels a lot of “common wisdom” with regards to what drives interest rates and the bond market. His analysis, as always, is superb. You can read his […]
Since it feels like we may be at a major turning point in the markets, I thought it’d be useful to review our current outlook with regards to the various key markets. As always, please take these musings with a grain of salt – I’m just an armchair trader and blogger, after all! The Dollar […]
Our friend Phil at Phil’s Stock World reports… According to its Comptroller, CT will be down to a week’s worth of cash unless it issues $520M in debt by Fall. If the planned offering of general bond obligations is delayed until 2011, “This coming fall the state would likely have just over a week’s worth […]
Big thanks to reader Shaun Noll, Founder and Managing Partner of Stirling Capital Management, for a heads up on an energy stock that he believes is absurdly cheap by any valuation measures. Shaun had emailed me privately about this company about a month ago – and since then it’s up over 50%! Of course, I didn’t […]
This month, Robert Prechter alerted his subscribers of a classic head-and-shoulders pattern shaping up on the weekly chart of the Dow. If you’re into technical analysis, check out the guest article below that we are re-syndicating, which includes a chart and description of the pattern… — Robert Prechter: Head-and-Shoulders Pattern in Weekly Dow Chart August 17, […]
The big news on Wall Street today is BHP Bilton’s unsolicited takeover bid for Potash Corp – the world’s largest fertilizer producer. The bid has Wall Street aflutter that more acquisition bids may be lurking out there (party like it’s 2006!) Potash was a Wall Street favorite during the agricultural commodity boom of 2007-2008. The […]
PIMCO’s Bill Gross today urged the US government to go “all in” in the nationalization of the mortgage finance system: Bloomberg reports: “To suggest that there’s a large place for private financing in the future of housing finance is unrealistic,” Gross said today at a U.S. Treasury Department conference in Washington. “Government is part of […]
Investors are back to “reaching for yield”, as junk bonds were snapped up last week in record numbers. The WSJ reports: Corporate borrowers with less than investment-grade ratings sold $15.4 billion in junk bonds this week, a record total for a single week, according to data provider Dealogic. The month-to-date total, $21.1 billion, is especially […]
The summer doldrums continue, as today registered the 2nd lowest trading volume of the year (Source: Reuters). As we’ve discussed, the last rally was rather uninspiring, displaying low and declining volume as the rally aged: Source: StockCharts.com The downsloping volume trendline was “broken” a bit by last week’s decline. So while overall trading volume is […]
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