EC China’s Political Tea Leaves
The 19th Party Congress in China is winding down. President Xi was the core leader before the Congress, and his priorities drove the agenda for the past five years. Expectations for a dramatic shift in policy or priorities seem unfounded. There is declaratory policy and operational policy, and much of the speeches and analysis have focused on the former. What […]
Tractor Supply Company: Wedgewood Capital Sees No Threat From Amazon
Wedgewood Capital is bullish on Tractor Supply Company (Nasdaq: TSCO), an 80-year old rural lifestyle retail store chain in the U.S. In its 2017 Q3 investor letter (a copy of which can be download here), Wedgewood Capital discussed its investment thesis on Tractor Supply, saying that the retail market in the U.S. is a “monstrous” and […]
An Unexpected (And Rotten) Branch Of The Maestro’s Legacy
The most significant part of China’s 19th Party Congress ended in the usual anticlimactic fashion. These events are for show, not debate. Like any good trial lawyer will tell you, you never ask a question in court that you don’t already know the answer to. For China’s Communists, that meant nominating Xi Jinping’s name to […]
‘The Automatic Flow That Poses The Most Immediate Risk Is VIX ETPs’: Goldman Takes On The ‘Doom Loop’
One of the most important questions for markets going forward is whether the presence of systematic strats and the proliferation of VIX ETPs will ultimately conspire to create what we’ve variously described as “the doom loop.” We’ve written copious amounts of posts about this dynamic which you can peruse at your leisure here. When stripped of […]
Healthcare ETFs Set To Soar As Q3 Earnings Unfold
Thanks to encouraging industry trends and hopes of a favorable policy environment, healthcare is one of the top-performing sectors this year. Notably, popular ETFs like Health Care Select Sector SPDR Fund (XLV – Free Report), Vanguard Health Care ETF (VHT – Free Report), iShares U.S. Healthcare ETF (IYH- Free Report) and Fidelity MSCI Health Care Index ETF (FHLC – Free Report) have gained at least 23% […]
Lira Tumbles After US Reportedly Refuses Visa For Turkish Minister Delegation
The Lira is down over 1% following Bloomberg reports from CNN TURK that Washington has declined to issue a visa to a delegation from Turkey’s Justice Ministry. #SONDAKİKA: ABD, Türk Adalet Bakanlığı heyetine vize vermedi https://t.co/9pfeJqDSQD pic.twitter.com/PFlSjgxszn — CNN Türk (@cnnturk) October 24, 2017 There was a last-minute development in visa tensions between Turkey and the United […]
Helios And Matheson Jumps As MoviePass Exceeds Initial Projections
Shares of Helios and Matheson Analytics (HMNY) jumped in morning trading after the company said its MoviePass theater subscription services surpassed over 600,000 paying monthly subscribers this month. MOVIEPASS EXCEEDING PROJECTIONS: Helios and Matheson, a majority owner of MoviePass, said this morning that the subscriber base for the movie theater subscription service surpassed 600,000 paying […]
How Trump Will Change The Fed Forever
Federal Reserve officials like to say the Fed is above politics. It’s even designed to be that way. The Board of Governors of the Federal Reserve System supervises the Fed. Individual governors vote on changes in interest rates and other policy decisions. Governors serve 14-year terms. One term expires every two years. That prevents any […]
Money Velocity: Historic Upturn Nears
“The Federal Reserve and other central banks have piled up huge reserves. But there is no inflation because the money is sitting within the banks and they are not lending it. Therefore, you don’t get a multiplier effect.” -Pierre Lassonde, gold expert, interviewed by Finanz and Wirtschaft News, October 2017. Because the world’s major central banks […]
Crude Oil Gains As OPEC Plans To Extend Production Cuts
Global oil prices gain on Tuesday following the news of OPEC planning to extend production cuts and work on a viable exit strategy. Brent crude oil gained 0.52 percent to $57.57 a barrel at 03:03 p.m. Nigerian time. While the West Texas Intermediate oil rose 0.77 percent to $52.30 a barrel, up from 38 cents. In […]
