BeSpoke: Analysts Most Bullish In Two Years
(Source: “Analysts At Most Bullish Level In Two Years”, BeSpoke Investment Group, October 7) Very interesting chart from BeSpoke Investment Group. The chart measures up changes versus down changes in analysts earnings estimates in the four weeks preceding the last eight…
Another Bubble?
The 2003 bounce came when stocks were not cheap – they traded at a multiple to cyclical earnings of about 21, according to Prof Shiller, when at the bottom of previous bear markets this multiple had fallen below 6. So…
Kass: Markets Have Likely Peaked For The Year
Despite the strong share price momentum and the aforementioned emerging optimistic economic/profit consensus, I continue to hold on to the variant view that the markets have likely peaked for the year based on the existence of nontraditional headwinds, an end to…
Susquehanna’s Billionaire Founder Jeff Yass Honed His Mind on Probability Theory And Poker
I learned more about option trading strategy by playing poker than I did in all my college economics courses combined. – Jeff Yass, The New Market Wizards: Conversations With America’s Top Traders (1992), p. 396 – Yass majored in economics…
Business Week: Hedge Funds Keep Watch On Washington
Interesting Business Week piece on hedge funds increasing interest in government policy: “Hedge Funds Keep Watch On Washington”, September 22. Obviously, as Washington plays a bigger and bigger role in the economy, investors need to understand the impact of government…
Stock Fund Investors Pull Money From Some Prominent Funds
A Wall Street Journal article yesterday (“Fallen Fund Stars Find Fewer Takers”, The Wall Street Journal, September 23, C15) listed four large, prominent mutual funds which have experienced notable outflows this year after underperforming the market last year: Dodge &…
Mish: I Endorse Peter Schiff For Senate
Mish endorses Peter Schiff for the senate. So do I. Schiffforsenate.com
Ken Fisher: We Need More Debt
Last week Ken Fisher went on TechTicker and said that the US is under-indebted and that more debt would actually be beneficial to the economy. That’s because our rate of return on assets is higher than our cost of borrowing. …
“The Real Sullivan Group”
[My clients are] the real Sullivan Group. – Sheila Carroll, a Sacramento attorney representing the Lehmann-Halverstadt Group There is a little dispute going on among a Roseville Investment Advisor called The Sullivan Group. Some members decided to leave Morgan Stanley…