Investing and Trading News, with a Contrarian, Sarcastic Twist!
Municipal bond yields continue to “break out” as investors are (finally) coming to the realization that local governments, which lack their own printing presses, may have problems making good on their outstanding debt. The Financial Times reports: The sharpest swings in the muni market have been seen in the $100bn so-called “Build America bonds” – […]
Last week, the S&P 500 collapsed through it’s 1040 support line, which had been tested twice before, indicating that there might be major PAIN ahead for stocks. This morning, stocks opened UP – but found resistance once again at 1040…this time, to the ceiling side. Before the weekend holiday, Todd Harrison of Minyanville presciently mused […]
Here’s an interesting debt deflation academic paper that our deflationist pal Carson sent along. It’s written by Steve Keen from University of Western Sydney. In the paper, Keen compares the debt deflation environment of the 1930’s with today. Abstract: My 1995 paper on modeling Minsky’s Financial Instability Hypothesis concluded with thestatement that its “chaotic dynamics […]
Courtesy of Pragmatic Capitalism: Is there a debt problem in the United States? You better believe it. But it’s not debt problem everyone is panicking over (the government deficit). It’s at the private sector level. This classic balance sheet recession has consumers saddled with debt. Peter Cecchini, chief strategist at BGC Financial LP says there […]
The Sacramento Business Journal reports: California State Fair officials hit the books, cut prices and revamped the fair’s calendar in an attempt to increase dwindling attendance. So far, the measures appear to be working, reports the business journal. This is, of course, yet another example of deflation. And in case you missed it, on Friday […]
The recent stock market decline has not only been sharp – shedding the year’s worth of gains in a matter of weeks – but it’s also had some very impressive breadth. Bespoke Investment reports that just 4% of S&P 500 stocks current sit above their 50-day moving average. So, everything is getting clobbered! The percentage […]
There are a lot of unhappy state workers grumbling near Contrary Investing / Chrometa Headquarters right now! Arnold “Governator” Schwarzenegger just hit over 200,000 California state employees with a big pay cut – all the way down to minimum wage – until the state budget is passed. The Sacramento Bee reports: Roughly 200,000 state workers […]
CLF – Cliff’s Natural Resources Why you ask? Because it’s THIS GUY’S favorite pick! James Altucher also believes the S&P is heading towards 1500 because “stocks are cheap”. he says the S&P historically trades at 15 times earnings…which is perhaps correct…if you’re talking about bull market tops! So should us contrarians run out and short […]
It’s always helpful, and a good practice, to review investing and trading rules that guided the very best. And Wall Street legend Bob Farrell of Merrill Lynch fame is certainly one of the very best of all-time. How about a guy who was pioneering in his use of technical analysis AND investor sentiment figures – […]
Sick of the ever increasing creep of socialism, and cries to save everyone in the interest of fairness? If you are reading this article, I’m betting that you’ve got more real-world savvy and economic sense than 99% of the rest of the world. And that’s not a self-congratulatory pat on the back (well, maybe a […]
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