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Austerity Hits Wall Street

This year, your bonus is that you get to keep your job. That is the bad news that will be dished out to many disappointed staff during annual reviews at the major Wall Street firms this year. We all know that volumes have been trading at subterranean levels, which have created a real drought of […]

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October 28, 2013

Global Market Comments October 28, 2013 Fiat Lux Featured Trade: (LAST CHANCE TO ATTEND THE NOVEMBER 1 SAN FRANCISCO STRATEGY LUNCHEON), (WHY US STOCKS ARE DIRT CHEAP), (SPY), (IWM), (QQQ), (TSLA) SPDR S&P 500 (SPY) iShares Russell 2000 ETF (IWM) PowerShares QQQ (QQQ) Tesla Motors, Inc. (TSLA)

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Last Chance to Attend the November 1 San Francisco Strategy Luncheon

Come join me for lunch at the Mad Hedge Fund Trader’s Global Strategy Update, which I will be conducting in San Francisco on Friday, November 1, 2013. An excellent meal will be followed by a wide-ranging discussion and an extended question and answer period. I’ll be giving you my up to date view on stocks, […]

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Why US Stocks Are Dirt Cheap

With share prices up by 20% this year, many commentators are warning of a top, a bubble, an Armageddon to come. But I think that we are just getting started. Share prices have the rocket fuel for the Dow average to make it to 15,000 by the end of 2015, and possibly 100,000 by 2025. […]

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October 25, 2013

Global Market Comments October 25, 2013 Fiat Lux Featured Trade: (FEEL LIKE INVESTING IN A STATE SPONSOR OF TERRORISM?), (GAF), (AFK), (EZA), (WHO SAYS THERE AREN’T ANY JOBS?), (WILL GOLD SUFFER THE FATE OF THE $10,000 BILL?) (GLD), (GDX) (THE TWELVE DAY YEAR) SPDR S&P Emerging Middle East & Africa (GAF) Market Vectors Africa Index […]

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Feel Like Investing in a State Sponsor of Terrorism?

How about buying shares in a country whose leaders have stolen $400 billion in the last decade and have seen 300 foreign workers kidnapped? Another country lost four wars in the last 40 years. Still interested? How about a country that suffers one of the world’s highest AIDs rates, endures regular insurrections where all of […]

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Who Says There Aren’t Any Jobs?

While recently winging my way across the South Pacific, I spotted an unusual job offer: WANTED: Social worker, tax free salary of $60,000 with free accommodation and transportation, no experience necessary, must be flexible and self-sufficient. With the unemployment rate at 7.2%, and running as high as 45% for recent college grads, I was amazed […]

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Will Gold Coins Suffer the Fate of the $10,000 Bill?

The conspiracy theorists will love this one. Buried deep in the bowels of the 2,000 page health care bill was a new requirement for gold dealers to file Form 1099′s for all retail sales by individuals over $600. Specifically, the measure can be found in section 9006 of the Patient Protection and Affordability Act of […]

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The Twelve Day Year

I have reported in the past on the value of the Friday-Monday effect, whereby the bulk of the year’s performance can be had through buying the Friday close in the stock market and then selling the Monday close (click here for ‘The Friday-Monday Effect Revealed’). Well, I have discovered a further distillation of this phenomenon. […]

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October 24, 2013

Global Market Comments October 24, 2013 Fiat Lux Featured Trade: (THE CASE AGAINST TREASURY BONDS), (TBT), (TLT), (MY PERSONAL LEADING ECONMIC INDICATOR), (HMC), (NSANY), (DXJ) (A FILM REVIEW OF “MARGIN CALL”) ProShares UltraShort 20+ Year Treasury (TBT) iShares 20+ Year Treasury Bond ETF (TLT) Honda Motor Co., Ltd. (HMC) Nissan Motor Co. Ltd. (NSANY) WisdomTree […]

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The Case Against Treasury Bonds

If you want to delve into the case against the long term future of US Treasury bonds in all their darkness, take a look at Foreign Affairs, the establishment bimonthly journal read by academics, intelligence agencies, and politicians alike, which I am sure you all have sitting on your nightstands. In a well-researched and thought […]

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My Personal Leading Economic Indicator

I just flew over one of my favorite leading economic indicators only yesterday. Honda (HMC) and Nissan (NSANY) import millions of cars each year through their Benicia, California facilities, where they are loaded on to hundreds of rail cars for shipment to points inland as far as Chicago. Five years ago, when the US car […]

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Film Review of “Margin Call”

Now it’s time for some cultural edification. I first became aware of “Margin Call” as a pre-production project four years ago when news leaked out that the principal actors, Kevin Stacey, Demi Moore, Stanley Tucci, and Jeremy Irons, were reading The Diary of a Mad Hedge Fund Trader to learn about the industry and get […]

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October 23, 2013

Global Market Comments October 23, 2013 Fiat Lux Featured Trade: (THE WORST IS YET TO COME), (SPY), (MY OLD PAL, LEONARDO FIBONACCI), (TESTIMONIAL) SPDR S&P 500 (SPY)

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The Worst is yet to Come

I was not surprised to see the belated September nonfarm payroll come in at a miserable 148,000. It clearly shows that companies were already hunkering down with their overheads in the run-up to the recent DC slugfest. The figure had been delayed by the Washington shutdown, which froze all government data releases. In fact, the […]

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