Gold •95 days | 2,368.70 | +35.30 | +1.51% | |
Platinum •10 mins | 982.90 | -18.80 | -1.88% | |
WTI Crude •10 mins | 76.30 | +1.92 | +2.58% | |
Gasoline •10 mins | 2.146 | +0.050 | +2.40% | |
Ethanol •95 days | 2.161 | +0.000 | +0.00% | |
Silver •95 days | 30.82 | +1.16 | +3.92% |
Silver • 95 days | 30.82 | +1.16 | +3.92% | ||
Copper • 95 days | 4.530 | +0.111 | +2.51% | ||
Brent Crude • 10 mins | 79.90 | +1.85 | +2.37% | ||
Natural Gas • 10 mins | 2.744 | -0.110 | -3.85% | ||
Heating Oil • 10 mins | 2.366 | +0.054 | +2.32% |
Contributor since: 26 Jan 2015
I just wrapped up 25 years (persevering) as a "professional bear." My lucky break came in late-1989, when I was hired by Gordon Ringoen to be the trader for his short-biased hedge fund in San Francisco. Working as a short-side trader, analyst and portfolio manager during the great nineties bull market - for one of the most brilliant individuals I've met - was an exciting, demanding and, in the end, a grueling and absolutely invaluable learning experience. Later in the nineties, I had stints at Fleckenstein Capital and East Shore Partners. In January 1999, I began my 16 year run with PrudentBear, working as strategist and portfolio manager with David Tice in Dallas until the bear funds were sold in December 2008.
U.S. stocks posted the strongest week of gains since 2013 (would have been 2011 if not for late-day selling). The S&P500 surged 4.3%, and the…
February 6 - Wall Street Journal (Spencer Jakab): "Only very rarely has a trade gone from being so good to being so bad so quickly.…
Even well into 2017, variations of the "secular stagnation" thesis remained popular within the economics community. Accelerating synchronized global growth notwithstanding, there's been this enduring…
The U.S. ran a $71.6 billion Goods Trade Deficit in December, the largest goods deficit since July 2008's $76.88 billion. The U.S. likely accumulated a…
Ten-year Treasury yields jumped 11 bps this week to 2.66%, moving decisively above the key 2.60% technical level - to the highest yields since July…
This might be the most fascinating market backdrop of my career. Not yet as dramatic as 1987, 1990, 1994, 1997, 1998, 1999, 2000, 2002, 2007,…
Financial conditions are much too loose. They remain too loose at home; they remain too loose abroad. January 3 - ETF.com (Heather Bell): "...ETF flows…
2017 was phenomenal in so many ways. The year will be remembered for a tumultuous first year of the Trump Presidency, the passage of major…
Ten-year Treasury yields jumped 13 bps this week to 2.48%, the high going back to March. German bund yields rose 12 bps to 0.42%. U.S.…
Janet Yellen's Wednesday news conference was her final as Fed chair. Dr. Yellen has a long and distinguished career as an economist and public servant.…
In nominal dollars, Total U.S. System (Non-Financial, Financial and Foreign) borrowings expanded $1.007 TN during the third quarter to a record $68.012 TN. Total Non-Financial…
Chair Yellen is widely lauded for her accomplishments at the Federal Reserve. For the most part, her four-year term at the helm of the Fed…
For the Week: The S&P500 gained 0.9% (up 16.2% y-t-d), and the Dow rose 0.9% (up 19.2%). The Utilities added 0.2% (up 14.4%). The Banks…
November 15 - Bloomberg (Nishant Kumar and Suzy Waite): "Hedge-fund manager David Einhorn said the problems that caused the global financial crisis a decade ago…
It's been awhile since I've used this terminology. But global markets this week recalled the old "Bubble in Search of a Pin." It's too early…
Of the diverse strains of inflation, asset inflation is by far the most dangerous. A bout of consumer price inflation would be generally recognized as…
Amazon, Google, Microsoft, Intel and Draghi all handily beat expectations. Booming technology earnings confirm the degree to which Bubble Dynamics have become entrenched within the…
The week left me with an uneasy feeling. There were a number of articles noting the 30-year anniversary of the 1987 stock market crash. I…
Bloomberg: "Treasuries Surge as December Hike Odds Drop After CPI Miss." Year-over-year CPI was up 2.2% in September, with consumer inflation above 2% y-o-y for…
The threat of nuclear crisis with North Korea. Two destructive hurricanes. Puerto Rico devastated and about out of money. The start of a major comprehensive…