Goldman: “The S&P 500 Is Overvalued”
Three weeks ago, when looking at the incoming Q4 results, we were stunned by an unprecedented divergence: that of GAAP and non-GAAP earnings. We showed this difference as follows: … and noted that while on a non-GAAP basis, the S&P’s trailing P/E is a relatively rich 16.5x (over 17x as of today), it was the GAAP […]
Think Brazil’s Scandals Have Nothing To Do With US Banks? Guess Again
This weekend, millions of Brazilians took to major city streets (again) to protest the hydra of corruption gushing from Petrobras, Brazil’s largest oil company and the government amidst deepening economic recession. Calls for the impeachment of sitting Workers’ Party (PT) president (and former Chair of Petrobras), Dilma Rousseff filled the air.(I can’t wait to see […]
Gold Stock Correction Starting?
Not so fast folks. Per an NFTRH update this morning GDX is not yet indicated to be correcting and I sold my DUST positions (sorry, I did not make a public announcement as I did with the NUGT short; this is cracked out day trader stuff and I am not obliged to publicly note everything I do) […]
4 Dividend-Yielding Oil Stocks To Buy As Prices Rise
Oil prices recovered on Friday after a report from the International Energy Agency (IEA) and forecasts from leading financial institutions indicated that prices may have bottomed out. This follows a steady recovery in oil prices from their late January lows. Since then, oil prices have rallied nearly 45% to hover around the $40 mark. […]
Retirement FinTech Gets Another Suitor – Goldman Sachs
No sooner had I written “Financial Technology and the Fiduciary Rule,” an invitation to the Future of Finance 2016 appeared in my in-box with the call-out that “Technology is about to revolutionise financial services.” (Note the British spelling for this Oxford conference.) Based on session titles, attendees will hear about topics such as how technology can: Be […]
SP 500 And NDX Futures Daily Charts – Little Conviction In ZombieLand
Stocks drifted higher during much of this very low volume, sleepy day. They gave up the best of their gains into the close. This is a market that is ‘marking time’ for a catalyst, perhaps the FOMC meeting on Wednesday the 16th. There is little expectation that the Fed will do anything at this meeting, […]
Still Slowing In China
Industrial production for the combined January/February period in China fell to just 5.4%, matching the lowest growth rate of the past fourteen years. Only the January/February 2002 IP rate was lower, but that was a single data point giving way to the rising financialization of the late eurodollar period. In 2016, these decelerations are commonplace, […]
The Cooper Companies Holds Annual Meeting Of Stockholders
PLEASANTON, Calif., March 14, 2016 (GLOBE NEWSWIRE) — At its annual meeting held on Monday, March 14, 2016 in Pleasanton, California, the stockholders of The Cooper Companies, Inc. (NYSE:COO) elected seven directors, ratified the appointment of KPMG LLP as the Company’s auditors for fiscal 2016 and approved the amendment and restatement of the 2007 Long-Term […]
Questions For The Valeant Conference Call
Valeant (VRX) is planning to have a conference call before Tuesday’s open to “discuss preliminary fourth quarter 2015 financial results and update 2016 financial guidance”. It is “preliminary” because numbers have not been audited yet. I expect an audit statement to be coming. I have never had a major problem with Valeant’s GAAP numbers (which […]
Market Starting To Price In Hikes – Very Slowly
In the wake of an allegedly “welcome” increase in inflation, the market is starting to price in increasing odds of rate hikes – not many, and not fast, but there are very noticeable changes. The Fed starts a two-day meeting tomorrow. Its interest rate decision comes Wednesday. Despite the talk of a hike tomorrow, the […]
