Author Archive: Jeremy Parkinson
Third Point Adds NXP And Campbell’s Soup Stakes, Exits Alphabet Class A
Third Point disclosed in an SEC filing its holdings as of June 30. Third Point’s 13 new buys in the quarter included, by size of position, NXP Semiconductors (NXPI), PayPal (PYPL), Visa (V), Campbell Soup (CPB), and Deere (DE). The firm exited 14 positions during the quarter including, by size of previous position, Alphabet Class […]
Value Hedge Funds Biding Their Time As Calling A Top Gets Trickier
Any time the markets have been soaring up, up, and away, it’s only a matter of time before the tides will turn. Value hedge funds have been struggling as momentum and growth dominated the day, but we’re finally starting to see signs of change. Multiple hedge funds have written in their second-quarter letters about how the markets were […]
Spectacular Gold COT Report: Prepare For A Huge Six Months
No need to mince words anymore. If the futures market still influences gold’s price, then that price is going to spike. And silver is better than gold. Since January, gold futures speculators have been trending from extremely bullish to scared short. And in the week ending last Tuesday (the most recent data available) they appeared to capitulate, […]
Why I Am Not Worrying About Warren Buffett’s Record Stash Of Cash
A recent Business Insider (BI) heading warned boldly: “Why Warren Buffett’s record-breaking cash stockpile should have investors very worried.” The BI’s evidence comes in the form of a record stash of over $130 billion of idling cash combined with major indices, like the S&P 500 (SPY), at or near all-time highs. Putting the two observations […]
Weekly Wrap: Markets Treading Water While Economic Data Sinks
Monday, the markets were unsurprisingly quiet. With the bulk of earnings season in the rear view mirror, save for a few remaining big names, the summer doldrums and vacations led to the day having the third lowest trading volume of the year at just 2.6 billion shares, compared to the 3.5 billion daily average for […]
With Aetna Buyout Set To Close Soon, CVS Health’s Flat-Lined Stock Still Looks Cheap
Last October I wrote about the just-leaked CVS Health (CVS) bid for health insurance giant Aetna (AET) and tried to convey the notion that the move was about far more than just diversifying away from retail pharmacies for fear Amazon might compress margins in that industry. Interestingly, CVS’s stock price was $69.05 when I published that note, and today it closed […]
Yuan May Consolidate On PBOC’s Intervention, Petro-Yuan Arbitrage Emerges
FUNDAMENTAL FORECAST FOR CNH: Neutral PBOC told that it may resume the counter-cyclical factor to support the Yuan. Retail Sales and Industrial Production reads could reveal the trade war damage. Arbitrage opportunities emerge as the spread between Petro-Yuan and Petro-Dollar jumped. The Chinese Yuan lost against the U.S. Dollar this week, though failed to set a new swing […]
Stocks End Week Lower; Erase Most Of August’s Gains
Week-In-Review: Stocks End Week Lower; Erase Most Of August’s Gains Stocks sold off hard on Friday which sent most of the popular indices lower for the week and erased most of the gains for the month. The small-cap Russell 2000 and the Nasdaq ended the week higher while the S&P 500 and The Dow Jones […]
Treasury Snapshot: 10-Year Yield At 2.87%
Note: We’ve updated this commentary with data through today’s market close. Let’s take a closer look at recent activity in US Treasuries. The yield on the 10-year note ended Friday at 2.87% and the 30-year bond closed at 3.03%. The 2-10 yield spread is now at 0.26%. Here is a table showing the yields highs […]
