Let's start this week's missive off with a disclosure of sorts - I am not Joe Calhoun. Unlike Joe, I have managed to hold on to my hair over the years although the last week has been challenging in that regard. Joe and his lovely wife, Fay, took an extended weekend off and headed towards Key West (a trip planned [...]
Why was the stock market down almost 6% last week? I know what you're thinking - has this guy been under a rock somewhere? But I'm serious. I know what all the pundits, commentators and talking heads are saying about the immediate cause. It's about the China devaluation and the knock on effect in other emerging markets. It's about global [...]
Top News Headlines Stocks succumb to gravity. Industrials join transports in official correction, down over 10%. S&P down almost 8%. Emerging markets enter the bear's lair, down 25% from recent highs. Oil cracks the $40 barrier - to the downside. Tensions high on the Korean Peninsula. Americans foil terror attack on French train. Kazakhstan devalues the Tenge. Yes, that's a [...]
China apparently shocked some people last week by allowing the Yuan to fall 3.5% against the dollar. I don't know why in the world they would be shocked since we've known for months - heck almost a year now - that capital has been leaving China. I wrote about it back in March so it isn't like it was exactly a [...]
Top News Headlines China devalues the Yuan. China lets Yuan float. China supports Yuan. Something happens in the Chinese currency market. Oil prices continue to fall. US raises flag over Havana. Dissidents' invitation gets lost in the mail. Tesla to sell more stock, profits elusive. Okay, very elusive. Okay, not frigging likely anytime soon. Dow chart gets a death cross; [...]
US stocks declined for the seventh straight day on Friday, a dismal streak not seen for almost four years. The S&P 500 is now down 5 of the last 7 weeks although in total it is just 2.5% below the all time high. If you just own the index I suppose that is not much to be concerned about but [...]
Top News Headlines Dow falls seven straight days; longest losing streak in four years Bonds up for third week in a row; diversification does work Apple stock in correction territory Republicans hold first debate; Fiorina, Kasich biggest surprises Media stocks clobbered; Disney leads to the downside on ESPN woes Economic News Incomes up modestly, spending still weak ISM Manufacturing index [...]
Top News Headlines Chinese stocks plunge, then stabilize Linn Energy shows shale bust isn't over Whole Foods stock hammered on earnings Twitter beats estimates, stock makes 52 week low Gold stops going down Economic News Durable goods orders rebound, still down almost 3% year over year Dallas Fed improves but still negative Case-Shiller shows surprising weakness in home prices Richmond [...]
The last year has been a tough one for investors. There are a few places one could have booked a double digit gain in the last 12 months but not many and certainly not in assets that are in the standard portfolio. Currency hedged ETFs for European and Japanese stocks produced big gains but a lot of the gain was [...]
Tail risks have eased following the end to the current Greek crisis. The world now looks to move toward economic normalization. Bonds performed well during the flight to safety coinciding with the referendum and emergency meeting circuit in Europe during the first half of this month. Now that investors are collectively exhaling and eyes move toward the timing of the signaled, Fed [...]
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