The Wall Street Journal – So Long Price-Earnings, Hello Price-Expectations Investors have always been in the business of anticipating, if not predicting, the future, and there is nothing wrong with this. However, in doing so, they would normally look at “real” economic indicators, such as GDP growth, corporate revenues, earnings outlooks and price-to-earnings ratios. They… Continue reading Forget Fundamentals
The Wall Street Journal – IMF Lagarde Seeks More Time for Greece Austerity International Monetary Fund Managing Director Christine Lagarde said Greece should be given an extra two years to meet its budget targets, publicly wading into euro-zone officials’ politically sensitive bailout discussions. At a press conference Thursday, Ms. Lagarde also said the IMF can… Continue reading More Time For Greece
Real Time Economics (WSJ Blog) – Key Oversight Tool Used by NY Fed May Be Broken An important tool used by Federal Reserve Bank of New York to gather information about the critical fed funds market may be fundamentally broken. A new report from the Fed’s most important regional branch focuses on a tool the… Continue reading Federal Reserve Algorithms Gone Wild
The Financial Times – Goldman’s ‘muppet hunt’ draws a blank Goldman Sachs has told its board of directors that an internal investigation found little substance to allegations made by Greg Smith, the disaffected employee who claimed the bank has a “toxic environment” where bankers refer to clients as “muppets”… Goldman responded by launching an investigation… Continue reading Goldman Absolves Itself Of Muppetgate
DealBook – With Tapes, Authorities Build Criminal Cases Over JPMorgan Loss Federal authorities are using taped phone conversations to build criminal cases related to the multibillion-dollar trading loss at JPMorgan Chase, focusing on calls in which employees openly discussed how to value the troubled bets in a favorable way. Investigators are looking into the actions… Continue reading The Criminal Case Against JP Morgan
Conference Call Presentation/Charts of the Week [audio:https://www.biancoresearch.com/bianco/SubscriberArea/503842-636339.mp3|titles=Conference Call] Topics Covered This Week Include: The State Of The Economy Growth Through Year-End The Trend In Earnings Companies Are Guiding Lower Earnings – Expecting Negative Growth For Q3 Earning Estimates Further Out Not Worth Considering Revenue Growth – Less Than The Inflation Rate Bernanke Explains The Wealth… Continue reading Conference Call Presentation/Charts of the Week
Comment Jim Bianco was on Bloomberg TV early this morning discussing the economy and the markets. To view the interview click on the image above. To view any of our recent interviews click here.
CNBC – 20% of US Firms Cook the Books During Earnings: Report It’s earnings time again and Wall Street is chomping at the bit for more information about the health of Corporate America. Alcoa (AA) and Yum! Brands (YUM) kicked off the unofficial start to earnings season after the bell Tuesday. Safeway (SWY) reports Thursday,… Continue reading Earnings Season Begins
Can’t join us today for the Big Picture Conference? Catch all the speakers on Fora.TV live during the day or for weeks after. Here is the handout Jim will be using: [pageview class=”PDFViewer” url=”https://www.biancoresearch.com/bianco/wp-content/plugins/PDFViewer/plugin.php?id=95″] <Click on graphic to register> Tentative Schedule 8:00 Registration and Breakfast in the Atrium 8:30 Introductions 8:45 Neil Barosfsky Bailout 9:30… Continue reading Big Picture Conference Today
Comment While we value the Intrade markets as a real-time source of consensus opinion, one complaint often lodged against these contracts is the lack of volume traded. This, in turn, often leads to the claim that these markets can be manipulated by interested parties to give one candidate the appearance of a lead over another.… Continue reading Intrade Manipulation, Is It Worth The Money?
The Financial Times – King’s defence of low interest rates during ‘The Great Stability’ Mervyn King gave a “personal assessment” of the inflation targeting regime over the past twenty years at a lecture at LSE on Tuesday night. He seemed to suggest that it was best to allow UK inflation to over-shoot the 2 per… Continue reading Mervyn King Defends Low Interest Rates