The Washington Post – Robert J. Samuelson: Why economists can’t forecast You knew it all along: Economists can’t forecast the economy worth a hoot. And now we have a scholarly study that confirms it. Better yet, the corroboration comes from an impeccable source: the Federal Reserve. The study compared predictions of important economic indicators —… Continue reading The Fed Proves That Economists Cannot Forecast
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Comment Jim Bianco was on CNBC yesterday discussing bond sentiment. To view the interview, click on the image above. To view any of our recent interviews, click here. CNBC – David Tepper: ‘You bet your heinie’ I’m short bonds Following a sharp run-up in bond yields since the summer, hedge fund manager David Tepper told CNBC he… Continue reading If You Can Spell ‘Bond’ You’re Probably Short Bonds
The Financial Times – WTI oil prices fall below $50 for first time since December Oil is slipping after data from the US revealed the country’s oil stockpiles hit an all-time record in February – rising for the ninth consecutive month and sparking fresh concerns about the extent of a global supply glut.The news sent prices… Continue reading Investors in Energy Stocks Bearish on WTI Crude Oil
Bloomberg.com – Shale Billionaire Hamm Says Industry Binge Can ‘Kill’ Oil Market Harold Hamm, the billionaire shale oilman, said the U.S. industry could “kill” the oil market if it embarks into another spending binge, a rare warning in a business focused on fast growth to compete with OPEC. The statement, at an energy conference in… Continue reading The OPEC Agreement May Be Tested
Bloomberg View – Tim Duy: Fed Must Look at Soft Data to Justify a Rate Hike Note that the divergence between markets and the Fed appears to have been more a matter of increasing confidence in the outlook than one of dramatic change in the outlook itself. The hard data was not sending a strong… Continue reading Can The Fed Ignore Soft Data?
The Financial Times – Capital controls the talk of China parliamentarians “The biggest bottleneck enterprises encounter is the strict controls on foreign exchange,” Fu Jun, chairman of conglomerate Macrolink, told state media. “After a difficult negotiation to win a high-quality investment project, enterprises are unable to pay due to foreign exchange control payments and ultimately… Continue reading Chinese Business Leaders Weigh In On Capital Controls
Of Dollars And Data (Blog) – The Fees Are Too Damn High: How Active Funds Have Cost Investors Over $250 Billion You read that right: The fees are too damn high and they have cost investors over $250 billion since the year 2000. I am talking about fees charged by actively managed mutual funds in… Continue reading The Cost Of Active Management
MarketWatch.com – Bull market’s 8-year anniversary reminds us that the Dow rewards the bold Apple has gained nearly 1,000% since 2009 If investors took a leap of faith when the bottom fell out of the market eight years ago and invested heavily in Dow stocks, most would be sitting on a fairly sizeable nest egg today.… Continue reading 8 Years Ago Today The Financial Crisis Stock Bear Market Bottomed
The Financial Times – Goldman Sachs’ lessons from the ‘quant quake’ Nearly 10 years after its nadir, quantitative investing is again the hot trend in finance What became known as the “quant quake” subsided in a week and was largely contained within the computer-powered investment industry. It was soon overshadowed by the global financial crisis. But… Continue reading The Rise Of Quants
The Wall Street Journal – Corporate Insiders Haven’t Been This Uninterested in Buying Stocks Since Ronald Reagan Was President Corporate executives are buying their own firms’ shares at the slowest pace in at least 29 years, the latest sign of uncertainty as the booming U.S. stock bull market this week enters its ninth year. Share… Continue reading Insiders Are Selling