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April 29, 2016
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Conference Call Presentation/Charts of the Week Audio [audio:https://www.biancoresearch.com/bianco/SubscriberArea/042816.mp3|titles=Conference Call ] Topics Covered This Week Include: Bad Numbers For Equity Managers Before And After 2007 The Worst Quarter Ever A Legend In My Own Mind The Problem With Active Managers A Legendary Manager … … And His Track Record Hedge Fund Struggle Talking Hedge Funds Equity… Continue reading Conference Call Presentation/Charts of the Week
Comment Today at 9 AM CT (10:00 AM ET, 7:00 AM PT, and 15:00 BST), Bianco Research, in conjunction with Arbor Research & Trading, will be hosting a webcast/teleconference moderated by Jim Bianco. In the post-crisis period, active management has underperformed terribly. As a result, investors have withdrawn money from active open-ended mutual funds and… Continue reading Is Too Much Index Investing A Bad Thing?
The Wall Street Journal – U.S. First-Quarter GDP Advanced at Scant 0.5% Pace The U.S. economy stumbled out of the gate in 2016 as consumers and businesses pulled back, underscoring the uneven growth that has been a hallmark of the nearly seven-year expansion. Gross domestic product, a broad measure of economic output, advanced at a… Continue reading Market Capitalization As A Percentage Of GDP
Comment Jim Bianco was on Bloomberg Radio yesterday and discussed the FOMC meeting. To listen to the interview, click on the link below. To view any of our recent interviews, click here. Audio [audio:https://www.biancoresearch.com/bianco/SubscriberArea/v2bloomberg.mp3|titles=Conference Call ] [pageview class=”PDFViewer” url=”https://www.biancoresearch.com/bianco/wp-content/plugins/PDFViewer/plugin.php?id=295″] The Wall Street Journal – Fed Stands Pat, Signals No Hurry to Raise Rates in Weeks… Continue reading The FOMC Meeting
<Click on chart for larger image> Bloomberg Business – Loeb’s Third Point Says Hedge Funds in ‘Catastrophic’ Period Hedge funds in first innings of ‘washout,’ firm says in letter Third Point, founded by Dan Loeb, said hedge funds are in the first stage of a “washout” after “catastrophic” performance this year. “There is no doubt… Continue reading Hedge Fund Outflows
<Click on chart for larger image> The Wall Street Journal – No One Believes It, but Inflation Is a Pretty Good Bet Half of the investing game is figuring out what’s priced into markets. The other half is figuring out where and why the market has got it wrong. This year’s broad markets rally has… Continue reading Inflation Expectations
<Click on graphic for larger image> Arbor Quantitative Analytics – Peter Forbes: Risk Markets Shift Focus from Crude to US Dollar Key risk markets’ correlations to WTI crude oil peaked on March 17 and have declined steadily since. As crude’s influence on the S&P 500, emerging markets and high yield diminished, these markets have seen… Continue reading Risk Markets Take Note Of U.S. Dollar
<Click on graphic for larger image> The Financial Times – Will duration risk rear its head for bond investors? As government bond yields have tumbled and the value of sovereign debt with yields below zero ballooned to over $8tn, investors are confronted with stark choices as they seek returns. While many fund managers have shifted… Continue reading Reaching For Yield Via Longer Duration
<Click on chart for larger image> Bloomberg.com – The U.S. Is in the Midst of a Historic Bull Market A bull market that has been derided as fake, doomed and history’s most-hated just earned a new title: the second-longest ever. Dodging and weaving through three 10 percent drops in the last 19 months while avoiding… Continue reading The Second Longest Stock Rally In History
The Wall Street Journal – Why the Bank of Japan Held Fire for Another Day It is exceedingly difficult to tell if a central bank is out of ammunition, especially when it doesn’t fire a shot. That could explain the thinking behind the Bank of Japan’s decision to do nothing of note at its policy… Continue reading The Bank of Japan Holds Steady
<Click on graphic for larger image> The Wall Street Journal – Greg Ip: Yes, Central Banks Can Create Inflation. Just Ask Argentina With inflation in the U.S., Japan and the eurozone stuck below their 2% targets, central banks are asked regularly if they have the tools to prod it higher. A better question would be:… Continue reading The Power Of Helicopter Money