Zero Hedge – “When Does The Party End?”” – Goldman Finds Revenue Multiples Have Never Been Higher With stocks rising to record high after record high, and with even Goldman’s clients now asking “When does the party end?” as noted by Goldman’s David Kostin overnight, the answer is simple: nothing has changed. Specifically, between the… Continue reading Stock Market Valuation
CNBC – Buckle up! Stocks in ‘risky territory’: Bogle Markets are entering a dicey phase but most investors should not jump ship now, said index fund pioneer Jack Bogle. The founder of The Vanguard Group, which manages about $2.5 trillion among its various funds, said in an interview on Monday’s edition of “Closing Bell” that… Continue reading Stock Market Worry
The Economic Collapse Blog – 20 Facts About The Great U.S. Retail Apocalypse That Will Blow Your Mind #1 As you read this article, approximately a billion square feet of retail space is sitting vacant in the United States. #2 Last week, Radio Shack announced that it was going to close more than a thousand… Continue reading More on the Brick and Mortar Bloodletting
Comment Jim Bianco was on CNBC on Friday discussing the payroll report. To view the interview, click on the image above. To view any of our recent interviews, click here. <Click on chart for larger image> Real Time Economics (WSJ Blog) – Bad Weather Did Affect Jobs Report and May Put Growth on Ice The… Continue reading The Payroll Report Post-Mortem
The Wall Street Journal – Jon Hilsenrath: Hilsenrath Analysis: Fed Likely to Continue Taper, Consider Changing Forward Guidance There is likely enough to like in Friday’s jobs report to keep the Federal Reserve on track to scale back its monthly bond buying by another $10 billion to $55 billion at its March 18-19 policy meeting.… Continue reading Fed Chairman Hilsenrath Says The Fed Will Taper Again Next Week
<Click on chart for larger image> Real Time Economics (WSJ Blog) – Foreign Banks Account for Nearly Half of Reserves at Fed Due to FDIC Changes Because of changes in charges levied by the Federal Deposit Insurance Corp., foreign banks accounted for almost half of the reserves held at the U.S. Federal Reserve in December,… Continue reading Reserves Held At The Fed
Real-Time Economics – Hilsenrath’s Take: Fed Considering New Exit Strategy Under a new plan being considered, the Fed could leave excess reserves in the banking system for years and may never remove them. In addition to paying interest on excess bank reserves, the Fed would anchor rates through a program using reverse repurchase agreements, or… Continue reading Will Reverse Repo Become The New Funds Rate?
Comment Last week we offered our final update of Q4 2013 earnings. Earnings growth through December 31 was 8.90% and guidance was poor. Expected growth rates for Q1 2014, shown below, are much weaker and are consistent with the waves of negative guidance over the last few months. <Click on chart for larger image> <Click… Continue reading An Early Look At Q1 Earnings Expectations
The Financial Times – Klarman warns of impending asset price bubble One of the world’s most respected investors has raised the alarm over a looming asset price bubble, calling out “nosebleed valuations” in technology shares like Netflix and Tesla Motors and warning of the potential for a brutal correction across financial markets. Seth Klarman, the… Continue reading Seth Klarman Speaks
The Wall Street Journal – New Norm for Stock Investors: Performance Matters Stocks Are No Longer Moving in Tandem With Broad Market Stock pickers are starting to breathe a sigh of relief. After years of moving in lock step on the back of global economic shocks, individual stocks increasingly have been dancing to their own… Continue reading Stock Market Correlations
Bloomberg – Bull Market Rivals ’90s at Half Valuation as Demand Broadens The American equity rally that just turned five years old is starting to match the 1990s Internet bubble when it comes to its speed. That’s where most of the resemblances end. Unlike then, when technology stocks drew 85 percent of the cash and… Continue reading The Bull Market Turns 5