Three Things I Think I Think – Financial Crisis Edition
Here are some things I think I am thinking about: Warren Buffett on the financial crisis, investing with a sound premise & silly Congressional ideas. 1 – What Caused the Financial Crisis according to Warren Buffett? The National Archives released documents related to the Financial Crisis late last week. Among them were some interviews with Warren Buffett on […]
Possible Implications Of A Brexit
One of the top headlines these days is the issue of a Brexit or a British exit from the European Union. As it turns out, some Britons and political leaders believe that the EU policies are already infringing on UK sovereignty and its stance on immigration might not be the best for all its members. […]
Analyst Sees Trouble Ahead For Fox From ‘Skinny Bundles,’ Downgrades Shares
Research firm BTIG downgraded 21st Century Fox (FOXA, FOX), saying that the company will not be spared from the media sector’s upcoming problems. WHAT’S NEW: Traditional media companies will be hurt by the shrinking of paid TV bundles, BTIG analyst Richard Greenfield wrote in a note to investors today. Although Greenfield had previously been enamored […]
Bad News For The Bears: Gartman Will Be Long VIX Until The S&P Hits 2,118
Yesterday morning, after reading the latest Gartman letter, we reported that in what may have been the worst possible news for vol longs, Gartman said he had become a “buyer of the VIX.” As a reminder this is what he said: NEW RECOMMENDATION: we are taking a “punt” on the short side of the equity market,but […]
U.S. Fakes A “Manufacturing Rebound”
For roughly six months; numbers from the U.S.’s (dubious) “manufacturing indices” have shown the U.S. economy sinking further into its Greater Depression — which dates back to at least 2007. Now, suddenly, these indices have “catapulted” higher (lol), supposedly indicating a manufacturing rebound into the U.S. How? We’re told by all the charlatan economists and government mouthpieces […]
More Investment Options Would Check Home Prices
Homebuyers at the sales center of a property project in Nanjing, Jiangsu province, on Feb 29. Cities like Nanjing and Shanghai have announced preferential housing tax policies, which have ignited local enthusiasm for home-buying. [Photo provided to China Daily] China’s banks, financial regulators, government officials and homeowners can all perhaps breathe easier. Despite surface appearances, China’s […]
Empire State And Philly Fed Reports Positive: Worst Over For Manufacturing?
On Tuesday, the Empire State manufacturing region returned to positive territory following seven months of contraction. Today, the Philadelphia Fed manufacturing region returned to positive territory following five months of contraction. Is the worst over for manufacturing or is this simply a breather? Let’s start with a look at the Empire State and Philadelphia Fed reports. Empire State […]
Aussie Gains On Surprise Drop In Unemployment Rate
Today’s Economic events Australia employment change 0.3k vs. 11.6k Australia Unemployment rate 5.80% vs. 6.0% BoJ Gov. Kuroda speech Switzerland PPI m/m -0.60% vs. 0.20% SNB LIBOR rate -0.75% vs. -0.75% Eurozone final CPI y/y -0.20% vs. -0.10%; core CPI y/y 0.80% vs. 0.70% BoE leaves interest rates unchanged MPC votes 0 – 9 Canada […]
How Big Were Canadian Upstream Spending Cuts In 2015?
In light of the commodity price downturn that began in 2014, almost every oil and gas company in Canada cut spending in 2015, with focus quickly switching from large scale development of properties to eliminating non-critical expenditures and merely sustaining production as much as possible to survive in the low price environment. But just how […]
When Doves Cry: Imprudently Cautious
If there was one word Yellen emphasized yesterday it was caution. The dot plot reflected that as well. Can one ask if the Fed is being too cautious? Yellen acknowledged that the Fed’s assessment of the US economy had not changed much from December. There is little reason it should. However, it is difficult to reconcile that with the substantial change in […]
