Several years ago I attended a conference where several prominent hedge fund and private equity managers were speakers. Perhaps the consistent theme amongst the presenters was the best opportunities present themselves when “blood is running in the street.”...
For many July was an ugly month. Perhaps one of the few positives to write is the narrative is rising about the narrowness of the market where only 5 or 6 stocks have contributed to the year to date return for the averages. Over 60%...
The NYSE states that in the past 12 months investors traded $18.2 trillion worth of ETF shares. This is a 17% increase from the 12 months prior and more than triple it was 10 years ago....
The carnage in oil stocks is incredible. Small cap shares tracked by the Russell 2000 Energy Index (93 companies) have plunged 34% in three months. Since June 26, these shares have plummeted 24% or about 6% per week. For a year, these shares are off...
The narrative about the narrowness of the market is rising. As noted many times, I began observing this narrowness about 15-18 months ago and started to discuss it at length about 10 months ago. Monday’s WSJ had a great article stating half of...
Will this week be of significance? Wednesday is a Fed meeting and Friday is the initial release of second quarter GDP, statistics that I am certain the Committee will have before its meeting....
When I came into the industry about 30 years ago I unknowingly cold called a legendary icon. The gentleman politely interrupted me partially through the presentation and gave me some unsolicited advice, advice that I believe is more poignant today than in years’ past....
Oil is around three month lows. Oil stocks, according to Bloomberg are the worst performing shares in the world. While I do not know whether or not this is an accurate statement, being long oil it certainly feels like they are indeed the worst performing...
As expected, FRB Chair Yellen’s remarks were a market nonevent. Her comments were widely as expected and similar to those made last week reiterating the Central Bank’s intentions to raise interest rates sometime this year, emphasizing the timing of the first rate rise is less...
Stocks advanced after an unexpected drop in retail sales damped expectations of a rise in interest rates in the immediate future. FRB Chair Yellen testifies today to Congress about the health of the economy and monetary policy. In past statements, Yellen is expecting strength in...