Liberty Posted June 16, 2014 Share Posted June 16, 2014 Interesting piece: http://philosophicaleconomics.wordpress.com/2014/06/15/whos-afraid-of-1929/ Link to comment Share on other sites More sharing options...
Guest Posted June 16, 2014 Share Posted June 16, 2014 Classic sign of a heated market. M&A is up. If the activity keeps up, it looks like it would blow through 2007...more like double it. http://money.cnn.com/2014/06/16/investing/mergers-and-acquisitons-boom/index.html?iid=HP_LN ""Cash is burning a proverbial hole in the corporate pocket," says Landesman." Link to comment Share on other sites More sharing options...
Liberty Posted June 17, 2014 Share Posted June 17, 2014 Some thinking about bubbles and the people who try to predict them: http://aswathdamodaran.blogspot.ca/2014/06/bubble-bubble-toil-and-trouble-costs.html Link to comment Share on other sites More sharing options...
Vish_ram Posted June 17, 2014 Share Posted June 17, 2014 To those that follow macro indicators, what indicators that you track can foretell a recession? I find yield curve inversion, employees in residential construction, negative growth in employees working in trucking/transportation etc to be good indicators. Link to comment Share on other sites More sharing options...
frommi Posted June 22, 2014 Share Posted June 22, 2014 http://www.bloomberg.com/news/2014-02-25/rajoy-to-cut-income-tax-saying-spain-s-sacrifices-bearing-fruit.html http://www.nytimes.com/2014/06/21/business/international/spain-stepping-back-from-austerity-plans-to-cut-taxes.html?_r=0 Looks like an end to austerity in europe is coming. My brain says the € is on a declining path with positive long term implications for europes businesses. Link to comment Share on other sites More sharing options...
frommi Posted June 27, 2014 Share Posted June 27, 2014 http://www.newyorker.com/online/blogs/currency/2014/06/could-argentina-default-on-its-debt.html Argentina default around the corner? This article makes me think they have no other choice. Link to comment Share on other sites More sharing options...
Aberhound Posted June 27, 2014 Share Posted June 27, 2014 http://www.acting-man.com/?p=31417 Note the chart showing how the change in the risk factor for sovereign debts and the actions of ECB accepting risky debts as good collateral caused the drop in EU sovereign debts while reducing loans to the private sector. Has the diversion improved allocation of capital? Has the incentives for EU governments to adopt sensible policies increased? Is the problem of too many and too big EU banks being solved? Link to comment Share on other sites More sharing options...
giofranchi Posted June 30, 2014 Author Share Posted June 30, 2014 Two key takeaways from the latest piece by Mr. David Hay: 1) Bridgewater thinks expected real returns for stocks have almost never been lower than today 2) Bridgewater thinks expected real returns for stocks and bonds have never been lower than today A curiosity (I would say an appalling curiosity!): Yields on 10-years government bonds in Spain have never been this low since… 1789!!! ::) Gio EVA+6.27.2014_NA.pdf Link to comment Share on other sites More sharing options...
Guest hellsten Posted June 30, 2014 Share Posted June 30, 2014 Yields on 10-years government bonds in Spain have never been this low since… 1789!!! ::) Interesting statistics. Thanks for posting. If history repeats itself, France will soon invade Spain ;D Link to comment Share on other sites More sharing options...
giofranchi Posted July 1, 2014 Author Share Posted July 1, 2014 "The Emerging German-Russian Axis" by Mr. Charles Gave GioDaily+6.30.14.pdf Link to comment Share on other sites More sharing options...
JEast Posted July 3, 2014 Share Posted July 3, 2014 Outside the Kiwi, the rest of the planet seems to still remain on a diet of ZIRP. http://www.marketwatch.com/story/sweden-surprises-with-large-rate-cut-to-025-2014-07-03?dist=beforebell Link to comment Share on other sites More sharing options...
jay21 Posted July 8, 2014 Share Posted July 8, 2014 Welcome to the Everything Boom, or Maybe the Everything Bubble http://www.nytimes.com/2014/07/08/upshot/welcome-to-the-everything-boom-or-maybe-the-everything-bubble.html?rref=upshot How the Everything Boom Might End: The Good, the Bad and the Ugly http://www.nytimes.com/2014/07/09/upshot/ways-the-everything-boom-might-end-the-good-the-bad-and-the-ugly.html Link to comment Share on other sites More sharing options...
Aberhound Posted July 8, 2014 Share Posted July 8, 2014 http://www.businessinsider.com/rail-traffic-2014-7 Rail traffic strong in US. Buffet has always watched rail traffic closely. Link to comment Share on other sites More sharing options...
OracleofCarolina Posted July 8, 2014 Share Posted July 8, 2014 http://finance.yahoo.com/news/ricks-cabaret-international-inc-announces-130000336.html Also, Ricks reported "same store sales" up 5% from last year. This tells me the economy is moving along ok and this is one of the indicators I look at : ) Cheers! Link to comment Share on other sites More sharing options...
giofranchi Posted July 10, 2014 Author Share Posted July 10, 2014 "Poverty Matters for Capitalists" by Mr. Charles Gave Every US recession that I can recall was preceded by a fall in long rates and I doubt the next will be much different. As such, do not expect the next US downturn to arise from the Federal Reserve pushing rates higher, an overvalued dollar or even mal-investments. Expect it to result from a decline in the income of the working poor. Early warning signs are likely to show up in the shopping isles of stores such as Walmart, average driving miles, and the price of houses at the cheaper end of the market. I suspect the lesson that will eventually be learnt is that in a modern industrialized economy there are few worse things a central bank can do than deliberately attack the spending power of the poor. Given the Fed’s asinine policy stance, at least since 2002, it seems likely that the prices of discretionary items bought by the least well off are likely to slip into a protracted decline. Hence, the deflationary tendencies that have been visible for some years are likely to explode during the process of a deflationary contraction. The fact that the price of oil, gas and rents has continued to rise only hardens my conviction in this view. I make no claim on the timing of this outcome. But the end game for this cycle is surely for US long rates to decline and quality spreads to open massively. My advice would be to maintain a deflation hedge in all portfolios, improve liquidity and boost the quality of both bond and equity holdings. Gio Link to comment Share on other sites More sharing options...
One World Trader Posted July 10, 2014 Share Posted July 10, 2014 Wilbur Ross is selling 6 times more than he is buying this year! http://www.cnbc.com/id/101825616 Link to comment Share on other sites More sharing options...
Liberty Posted July 10, 2014 Share Posted July 10, 2014 http://www.thereformedbroker.com/2014/07/10/the-only-reason-investing-works-is-because-things-can-go-wrong/ Link to comment Share on other sites More sharing options...
gary17 Posted July 14, 2014 Share Posted July 14, 2014 interesting article on how the Chinese have been able to move money out of China; http://www.bloomberg.com/news/2014-07-14/secret-path-revealed-for-chinese-billions-overseas.html Gary Link to comment Share on other sites More sharing options...
Liberty Posted July 14, 2014 Share Posted July 14, 2014 Daily Closing Prices and Drawdowns for the Dow Jones Industrial Average ($DJIA) from May 1885 to July 11, 2014 http://greenbackd.com/2014/07/14/daily-closing-prices-and-drawdowns-for-the-dow-jones-industrial-average-djia-from-may-1885-to-july-11-2014/ Link to comment Share on other sites More sharing options...
Guest Posted July 14, 2014 Share Posted July 14, 2014 I wonder if. at some point in the not too distant future, we'll look back at this video and say "he was right". http://www.valuewalk.com/2014/07/rick-santelli-epic-meltdown-cnbc-video/ If nothing else, the video is entertaining. :P Link to comment Share on other sites More sharing options...
Valuebo Posted July 15, 2014 Share Posted July 15, 2014 I wonder if. at some point in the not too distant future, we'll look back at this video and say "he was right". http://www.valuewalk.com/2014/07/rick-santelli-epic-meltdown-cnbc-video/ If nothing else, the video is entertaining. :P Haha I saw that as well. To the guy of UBS: "Oooh patience! It's been 5 and a half years. Japan got patience. Woopedidoo!" It sure would be funny to see him proven right, if only to get more of those videos. :D Link to comment Share on other sites More sharing options...
giofranchi Posted July 16, 2014 Author Share Posted July 16, 2014 Hoisington Investment Management – Quarterly Review and Outlook, Second Quarter 2014 http://d21uq3hx4esec9.cloudfront.net/uploads/pdf/OTB_Jul_15_2014.pdf Gio Link to comment Share on other sites More sharing options...
Liberty Posted July 19, 2014 Share Posted July 19, 2014 Grantham: http://online.barrons.com/news/articles/SB50001424053111904255004580037561004275500 Link to comment Share on other sites More sharing options...
Guest Posted July 21, 2014 Share Posted July 21, 2014 I see this one as a positive (rather than bearish as I usually add haha): http://money.cnn.com/2014/07/21/pf/millennials-cash/index.html "About 39% of Millennials picked cash as the preferred way to invest the money that they don't need for at least 10 years -- the biggest percentage of any age group." Link to comment Share on other sites More sharing options...
giofranchi Posted July 21, 2014 Author Share Posted July 21, 2014 I see this one as a positive "About 39% of Millennials picked cash as the preferred way to invest the money that they don't need for at least 10 years -- the biggest percentage of any age group." Why do see this one as a positive? Gio Link to comment Share on other sites More sharing options...
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