Gold •66 days | 2,368.70 | +35.30 | +1.51% | |
Platinum •15 mins | 918.70 | -11.60 | -1.25% | |
WTI Crude •1 day | 67.67 | -1.48 | -2.14% | |
Gasoline •1 day | 1.896 | -0.030 | -1.55% | |
Ethanol •66 days | 2.161 | +0.000 | +0.00% | |
Silver •66 days | 30.82 | +1.16 | +3.92% |
Silver • 66 days | 30.82 | +1.16 | +3.92% | ||
Copper • 66 days | 4.530 | +0.111 | +2.51% | ||
Brent Crude • 1 day | 71.06 | -1.63 | -2.24% | ||
Natural Gas • 1 day | 2.275 | +0.021 | +0.93% | ||
Heating Oil • 1 day | 2.115 | -0.054 | -2.49% |
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.
Just another week of the "new normal". Celebratory talk of "helicopter money," a melt-up in stocks, another terrorist attack in France and a coup attempt…
July 20 - Financial Times (Eric Platt): "The Turkish lira weakened a new record low against the greenback on Wednesday after the country was cut…
Bloomberg's Tom Keene (Monday, June 27, 2016): "If I take Paul Krugman and Alan Greenspan's primal cry, 'we want simple models.' Is our solution now…
"In this unique exploration of the role of risk in our society, Peter Bernstein argues that the notion of bringing risk under control is one…
Friday was one of those market days that left an uncomfortable feeling in the pit of my stomach. U.S. markets have been resilient thus far,…
Credit booms are powerfully reinforcing. New Credit provides additional purchasing power that spurs spending, economic output, corporate earnings/cash-flow and income growth. Monetary expansions, as well,…
With markets on the rather quiet side, I awoke Friday anticipating a more theoretical focus for this week's CBB. But then May's surprisingly dismal jobs…
For the week: The S&P500 jumped 2.3% (up 2.7% y-t-d), and the Dow gained 2.1% (up 2.6%). The Utilities increased 1.0% (up 11.7%). The Banks…
May 20 - Bloomberg (Susanne Walker Barton): "Treasuries fell, heading for their biggest weekly drop since November, as Federal Reserve officials indicated they're considering a…
Friday headlines from Bloomberg: "Retail Sales Rise Most in a Year, Marking U.S. Consumer Comeback" and "Consumers Turn Out to Be U.S. Growth Lifeline After…
Don't let the relatively tame week in the S&P 500 engender complacency. Perhaps it was not obvious, yet the trading week provided important confirmation for…
April 25 - Financial Times (Jennifer Hughes): "Stand easy -- or easier, at least. Ten basis points might not be the biggest one-day change for…
Let's return to last week's theme of China as the "marginal source of global Credit and liquidity" for a runaway global Bubble that has been…
Another unsettled week for global markets. Japan's Nikkei equities index rallied 6.5%. Italian bank stocks surged 10%, with the Europe STOXX 600 Bank Index up…
"The US economy has made tremendous progress in recovering from the damage from the financial crisis. Slowly but surely the labor market is healing. For…
It's not as if we're lacking history as to how this works. Some two decades ago the Greenspan Fed's "asymmetrical" (baby-step "tightening" measures versus aggressive…
The 1987 stock market crash raised concerns for the dangers associated with mounting U.S. "twin deficits." Fiscal and trade deficits were reflective of poor economic…
I'd been waiting patiently for the Fed's Q4 2015 Z.1 "flow of funds" report. The fourth quarter was a period of financial instability and tightened…
With global risk markets staging a significant rally, it's an appropriate time to update my bursting global Bubble thesis. Three weeks ago I titled a…
For the week: The S&P500 gained 1.1% (down 1.1% y-t-d), and the Dow rose 1.2% (down %1.2). The Utilities jumped 2.4% (up 11.3%). The Banks…