Author Archive: Jeremy Parkinson
0.2% Of Nasdaq Companies Accounted For 45% Of Its Recent Gains
Just five of the more than 2,500 companies in the Nasdaq Composite Index are largely responsible for Tuesday’s first-ever close above 6,000. The big five are Apple Inc., Amazon.com Inc., Facebook Inc., Microsoft Corp. and Alphabet Inc., Google’s owner. Together they accounted for about 45 percent of the Nasdaq’s rise from 5,500, reached on Jan. 6, according to […]
EC Extreme Leverage And Valuations? Short Sellers Must Be Thinking About It
There is an eight foot broadleaf evergreen directly outside my office door. Normally, I would not give it a second’s glance. Recently, however, a hummingbird has been buzzing about the greenery. And with good reason. Two hatchlings have arrived, requiring food as well as warmth. In spite of my presence, the mother has been expressing an […]
Factor Investing – Tilting At Windmills
(I hope you have your big boy pants on today because I am about to unleash another beat down on factor investing. I apologize in advance to all my colleagues in finance who love factor investing so much.) Factor investing is all the rage these days. If you don’t know what it is, stop being […]
Trump’s Taxes Suffer A Dearth In Details – Dollar Dips
Overpromise and underdeliver seems to be the modus operandi of the Trump Administration. Edging closer to the 100 days mark, Gary Cohn and Steve Mnuchin unveiled a “once in a generation” tax plan. It came five days after the idea was first announced. The ideas in the plan seem quite ambitious indeed. Significantly lower taxes could make a huge […]
The Current State Of Early Investing Explained By Five Charts
What you’re hearing about startup land is sometimes not what’s actually happening. Below are five charts that prove this point, starting with perhaps the biggest surprise of all… For the past decade, when the best companies have gone for the ultimate exit in size and prestige, they chose to IPO. In the most surprising […]
World Out Of Whack: 5 Head Scratchers
Market dislocations occur when financial markets, operating under stressful conditions, experience large widespread asset mispricing. Welcome to this week’s edition of “World Out Of Whack” where every Wednesday we take time out of our day to laugh, poke fun at and present to you absurdity in global financial markets in all its glorious insanity. While we enjoy a good […]
Retail Stores Are Dying And We Should Let Them
Last week, the discount shoe retailer Payless ShoeSource filed for Chapter 11 bankruptcy and announced it will close 400 brick-and-mortar stores throughout the United States and Puerto Rico. The announcement comes on the heels of a seemingly unending parade of bad news from traditional retailers in recent months. So far this year, Macy’s, J.C. Penney, and BCBG, […]
Ode To Investors: Super Size Me!
How do you take your plaque? C’mon, we all have our victual vices that risk turning the gourmet in us gourmand. Those naughty nibbles that do so tempt us. Is it a bacon, cheese, well…anything? Maybe a slice of pie – pizza or otherwise? Or do you take yours scattered, smothered and covered? As in how […]
Treasury Sells $34 Billion In 5Y Paper In Ugly, Tailing Auction At Lowest Yield Since November
After yesterday’s stellar 2Y auction, moments ago the Treasury sold $34 billion in 5 Year paper in what can only be described as a quite ugly auction. The high yield printed at 1.875%, which maybe because it was the lowest stop since November’s 1.76%, drew far less bidside interest than yesterday’s auction. It also tailed […]
