The Financial Times – Tips from Wall St hedge fund gurus fail to reward faithful Advice from the gurus of Wall Street may be rather less valuable than their fans would like to believe. Investors who bought on the basis of top tips from one of New York’s most celebrated hedge fund conferences last year… Continue reading Hedge Funds
The Wall Street Journal – Americans Are Borrowing Again but Still Less Than Before Freeze When the economy nose-dived several years ago, Lou Aaron found it impossible to get a bank loan, forcing him to use six different credit cards to keep his 1950s-style drive-in restaurant running. Now, the 50-year-old chef said banks are coming… Continue reading The Return Of Credit
Bloomberg.com – Gold’s Biggest Drop in 30 Years Fails to Deter Advocates A drive to recognize gold and silver as legal currency, rather than trust in U.S. dollars, is forging ahead with bills in six states, even after gold lost 13 percent of its value over two trading days last month. The gold-as-currency movement, fueled… Continue reading Gold
Zero Hedge (blog) – This Is Your S&P; This Is Your S&P Without Tuesdays Since the mid-November lows, the S&P 500 has gained a remarkable 268 points on the back of faith, hope, and Bernanke/Kuroda charity. But perhaps what is more mind-numbing is that this efficient market has given us more than 50% of those… Continue reading How I Learned To Stop Worrying and Love Tuesdays
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Comment Yesterday Jim Bianco was on CNBC with Bob Palvik of Banyan Partners talking about the bond market. To view the interview click on the image above. To view any of our recent interviews click here. Barron’s – Warren Buffett: Bonds Are ‘Terrible Investments’ Right Now In an appearance on CNBC this morning, Berkshire Hathaway’s… Continue reading Discussing The Bond Market
Comment Over 80% of the S&P 500 companies have now reported and, as the following charts show, this earnings season is still best characterized as disappointing. Furthermore, expectations for future earnings seasons appear to be getting worse. The first chart below shows that 408 S&P 500 companies have reported through earlier this morning. 71% beat… Continue reading Earnings Update – Still Disappointing
Bloomberg.com – Housing Crash Fades as Defaults Decline to 2007 Levels Six years after the start of the foreclosure crisis, American homeowners are paying their mortgages like the housing crash never happened. First-time delinquent home loans fell to 0.84 percent of the 50.2 million mortgages in March, the first month below 1 percent since 2007,… Continue reading Housing
The Financial Times – Nigel Lawson calls for UK exit from EU Nigel Lawson, former Conservative chancellor, has called for the UK to quit the European Union, piling pressure on the British prime minister who supports Britain’s membership of the union. Writing in Tuesday’s Times, Mr Lawson said he would vote in favour of a… Continue reading UK Exit
<Click on chart for larger image> <Click on chart for larger image> ETF Trends – Gold ETF Asset Flows are a New Market Indicator Gold exchange traded funds witnessed large redemptions in the recent gold market collapse, and some argue that investors can track gold ETF inflows and outflows as a new market indicator. So… Continue reading Gold
The Wall Street Journal – Reaping Wisdom On ‘Junk’ Issuance of high-yield bonds, the more polite moniker for “junk,” hit records in both the U.S. and Europe in 2012, according to Dealogic. This year has started in the same vein, with high-yield volumes rising at the fastest-ever clip. That is great news for companies such… Continue reading Junk Bonds
Reuters – Draghi says ECB ready to act as economy weakens European Central Bank President Mario Draghi departed from a prepared speech on Monday to reiterate the central bank’s readiness to cut interest rates again if the euro zone economy deteriorates further. The euro hit session lows against the dollar and the yen after Draghi… Continue reading Europe Takes a Turn For The Worse