The Wall Street Journal – Where Are the Dips? The Weird, Unsettling Rise of Global Stocks This Year Stock markets go up and down: It is a fact of life. Except in 2017.History suggests the stretch of calm won’t last. The S&P 500 has avoided a 5% or more pullback in just five of the past… Continue reading Stocks Only Go Up In 2017
The Wall Street Journal – Robots Are Replacing Workers Where You Shop Nearly 16 million people, or 11% of nonfarm U.S. jobs, are in the retail industry, mostly as cashiers or salespeople. The industry eclipsed the shrinking manufacturing sector as the biggest employer 15 years ago. Now, as stores close, retail jobs are disappearing. Since… Continue reading Automation In The Workforce
MoneyBeat (WSJ Blog) – The Bulls Aren’t Running in a Herd Investors have found it difficult to pick sectors and strategies that have consistently outperformed throughout this bull market because the trends keep shifting…What was up one day or week is down the next, and vice versa, according to an analysis by Jim Paulsen, chief… Continue reading When All Stocks Rise Together, There Is No Industry Differentiation
The Financial Times – Silicon Valley’s crypto currency craze is a bubble in the making At the latest count, more than 900 coins were supposedly active and tradeable in the bilateral crypto currency market, or else bore some sort of implied intrinsic value…The question is whether this fad represents a legitimate mechanism for helping ventures… Continue reading Crypto Currencies As The Next Step In Shadow Banking
The Financial Times – The oil price is living on borrowed time Using a parallel of the horse displacement by cars over about 25 years in the US in the early 20th century, an IMF working paper “Riding the Energy Transition” shows that the share of EVs could reach 90 per cent by 2040 in… Continue reading Predicting Oil Prices Based On Electric Vehicle Adoption
MoneyBeat (WSJ Blog) – Sure, Corporate Bonds Are Pricey. But Nobody’s Selling Corporate bonds may be pricey but investors are hanging on tight. Results from July’s credit investor survey conducted by Bank of America Merrill Lynch highlight the tension between elevated valuations and sturdy economic growth. Extreme bond bears are nonexistent. Zero survey respondents claimed… Continue reading 60% Of Credit Investors See IG Bonds As Overvalued, But None Are Significantly Underweight
MarketWatch.com – Meir Statman: You probably don’t have what it takes to beat the market The efficient market hypothesis is central to standard finance, and many believe that behavioral finance refutes it. Indeed, many believe that refutation of the efficient market hypothesis is the most important contribution of behavioral finance. Yet there’s a failure to… Continue reading Behavioral Finance And The Efficient Market Hypothesis
Bloomberg Business – Wall Street Efforts to Improve Its Image Fail to Sway Americans Less than a third of those asked say they trust billionaires Bad news for financial titans like JPMorgan Chase & Co.’s Jamie Dimon and Goldman Sachs Group Inc.’s Lloyd Blankfein: Most Americans hold unfavorable views of Wall Street banks and corporate executives, and… Continue reading 10 Years After The Financial Crisis And Americans Still Don’t Trust Wall Street
CNBC – Goldman Sachs commodities analyst: ‘I’d like to see some volatility’ in oil market * Jeff Currie, Goldman’s head of commodities research, would “like to see some volatility” in the oil market. * The bank revised its bullish three-month crude oil prediction down in late June. * Currie said a handful of factors, including the weather,… Continue reading Stubborn Bullishness In Crude Remains Despite Horrific Losses
Bloomberg – Veteran Emerging-Market Investor Says EM Risk Could Be Higher Than in 2008 Koenigsberger warns that fund inflows raise liquidity threat “We’re potentially sitting on one of the most illiquid market conditions in emerging markets that I’ve ever seen,” said Koenigsberger, who oversees $6 billion as chief investment officer at Greenwich, Connecticut-based Gramercy Funds Management.… Continue reading Fork in the Road for Emerging Markets
MoneyBeat (WSJ Blog) – Fundamentals Still Matter Big-Time for Stock Returns Traders all year have lamented the lack of volatility in the U.S. stock market and, in turn, the influence of corporate fundamentals on market returns. They may want to gird for action as second-quarter earnings get under way. As The Wall Street Journal’s Morning… Continue reading 52% Of FAAMG Stocks’ Returns Come During Earnings Week