July’s job’s data was largely as expected making the type of progress the Federal Reserve wants to see in order to raise interest rates in September. I am anticipating the narrative to rise to deafening levels similar to that of today’s oil market as the...
Oil has dropped over 25% or $16/barrel since June 30, one of the sharpest decimation in history. Everything in the energy sector has been utterly destroyed since June 30, a destruction that is greatly amplified in the bond market given liquidity issues brought upon by...
The Chairman of Shell stated with oil prices at current levels every oil firm will have to slash its budget, commenting further that most investments outside the Middle East does not make sense. He further stated oil prices declining another 20% might be too optimistic,...
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....