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February 5, 2015
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Conference Call Presentation/Charts of the Week Audio [audio:https://www.biancoresearch.com/bianco/SubscriberArea/020515.mp3|titles=Conference Call ] Topics Covered This Week Include: Q4 2014 Earnings Earnings Beat Rate Q1, Q2 Earnings Estimates 2015 Earnings Estimates Earnings Estimate History Q4 2014 Revenue (Sales) Growth Revenue Beat Rate Q1, Q2 And All Of 2015 Revenue (Sales) Estimates 2015 Revenue Estimates Corporate Profits And GDP… Continue reading Conference Call Presentation/Charts of the Week
As the next chart shows, money has been pouring into long-term Treasury ETFs (green line) relative to inverse (or short) long-term Treasury ETFs (red line) since the flash yield crash. This represents the most dramatic reversal among the players in these instruments in the last several years. A true buying panic has developed here.… Continue reading Bond Market Sentiment
Linkedin – Jim Clifton: The Big Lie: 5.6% Unemployment There’s no other way to say this. The official unemployment rate, which cruelly overlooks the suffering of the long-term and often permanently unemployed as well as the depressingly underemployed, amounts to a Big Lie. And it’s a lie that has consequences, because the great American dream… Continue reading The 5.6% Unemployment Lie
<Click on chart for larger image> The Wall Street Journal – January U.S. Auto Sales Held Strong Fueled by low gasoline prices and easier credit, the U.S. auto industry pulled its recent winning streak into 2015 with a projected 15% monthly increase compared with the same period a year ago. January’s volume suggests annual auto… Continue reading Lower Gas Prices = Strong Auto Sales
The Financial Times – Democratising finance: How passive funds changed investing The process of bringing diversified, affordable investment products to the masses started with investment trusts, which first appeared in the UK in the 1860s and afforded “the investor of moderate means the same advantages as large capitalists”. Open-ended mutual funds followed in the 1920s,… Continue reading An Updated Look At ETF Assets
<Click on chart for larger image> Bloomberg Business – Here’s One Theory for Why Oil Is Going Nuts Brent oil surged to $58 a barrel on Tuesday. It is now 24 percent higher than it was just a few weeks ago, meeting the technical definition of a bull market. (Some perspective: Prices are still down… Continue reading Price Of Crude Oil Jumps
Bloomberg.com – Berkowitz Turns Worst From First as Picks Sour: Riskless Return Bruce Berkowitz was named domestic stock fund manager of the decade by Morningstar Inc. in January 2010 for his market-beating performance. Five years later, his fortunes have turned. Berkowitz’s $7.9 billion Fairholme Fund had the worst risk- adjusted return of any large diversified… Continue reading Fund Managers In Pain
The Financial Times – European Central Bank resists latest Greek bailout plan The European Central Bank is resisting a key element of the Greek government’s new rescue plan, potentially leaving Athens with no source of outside funding when its international bailout expires at the end of the month. Yanis Varoufakis, Greek finance minister, had proposed… Continue reading Greece
Real Time Economics (WSJ Blog) – Fed’s Kocherlakota Concerned About Low Bond Yields Rates on European government bonds, as well as Japanese debt, are even lower as central banks in both places undertake aggressive monetary stimulus programs to fend off deflation, a vicious cycle of falling prices and wages across the economy. Mr. Kocherlakota’s prepared… Continue reading Kocherlakota: The Fed Should Not Raise Rates This Year
<Click on chart for larger image> The Wall Street Journal – China’s Yuan Tests Lower Limits Speculation Builds That China’s Central Bank May Be Preparing to Widen Trading Band China’s yuan fell to within a whisker of the lower limit of its trading band Wednesday, extending a week-long streak of similar moves, as Beijing grapples… Continue reading The Yuan
CNBC – This country has just canceled poor people’s debt Some of Croatia’s poorest citizens will be offered a “fresh start” on Monday when the eastern European country’s government cancels their debt in an attempt to kickstart the economy. The large and unprecedented measure was endorsed by Croatia’s left-wing government on January 15. Under the… Continue reading Croatia Pays Off Its Poorest Citizens’ Personal Debt