The first print of third quarter GDP validated my long held view of today’s recessionary fears are vastly overblown. The economy expanded at a 1.9% annualized rate versus the consensus view of a 1.6% pace. Perhaps the most significant aspect of the report...
Equity markets are pricing about a 90% probability the Fed will lower interest rates on Wednesday. In my view the global headwinds that pushed the Bank to cut rates in July and September have abated somewhat ...
Many times I have commented about the narrowness of the market. Bloomberg quantified this lack of breadth on Friday. The newswire stated Thursday was the third time this year that the number of decliners was least 400 more than gainers when the NASDAQ...
Is a new theme arising? For many years market participants have been rationalizing the valuations of profitless companies. Was We Work the proverbial straw that broke the camel’s back? ...
Value trounced growth yesterday, partially the result of earnings. OK, growth has decimated value since at least 2008 and depending upon the source value is trading at the sharpest discount to growth since at least 2000. Some data points go as far back to...
Many times I have commented about the lack of liquidity in the markets, the result of regulatory fiat, changes in market trading structures and the massive move to passive investing. ...
Led by technology, equities traded lower. Some are pointing to yet another reduction in We Work’s valuation to under $8 billion. Several weeks ago it was valued around $47 billion. Others were pointing to Chinese data. While others suggested it was...
Many times I have commented about the lack of liquidity, primarily the result of regulatory fiat, trading mechanics and passive investing. Considerable attention has been focused on the liquidity issues of the repo market, liquidity that is being provided by the lender of last...
Several times I have referenced JP Morgan’s Jamie Dimon’s view about the state of today’s research reports. Dimon opined many reports lack credibility at best, but impact trading given the contents of the reports is often times repeated in the Blogosphere thus offering false...
The fourth Democratic debate produced nothing of significance as the candidates continue to map out their very progressive agenda. As I commented yesterday, I do not think the country is this far left and I again ask is how will the candidates switch their...