"By historic, fundamental measures, stocks are extremely high. PE multiples are at 100-year highs. But if you look at stock prices relative to interest rates, they are exactly where they should be," said hedge fund legend, Stanley Druckenmiller.
Global Market Comments July 5, 2019 Fiat Lux Featured Trade: (FRIDAY JULY 19 ZERMATT SWITZERLAND STRATEGY SEMINAR) (WHERE THE ECONOMIST “BIG MAC” INDEX FINDS CURRENCY VALUE), (FXF), (FXE), (FXA), (FXY), (CYB), (WHY US BONDS LOVE CHINESE TARIFFS), (TLT), (TBT), (SOYB), (BA), (GM)
My former employer, The Economist, once the ever-tolerant editor of my flabby, disjointed, and juvenile prose (Thanks Peter and Marjorie), has released its "Big Mac" index of international currency valuations. Although initially launched as a joke three decades ago, I have followed it religiously and found it an amazingly accurate predictor of future economic success.
For many, one of the most surprising impacts of the administration’s tariffs on Chinese imports announced today has been a rocketing bond market. Since the December $116 low, the iShares 20+ Year Treasury Bond ETF (TLT) has jumped by a staggering $16 points, the largest move up so far in years. The tariffs are a
Global Market Comments July 3, 2019 Fiat Lux Featured Trade: (WEDNESDAY, JULY 10 BUDAPEST, HUNGARY STRATEGY LUNCHEON) (MEET THE GREEKS)
Come join me for lunch at the Mad Hedge Fund Trader’s Global Strategy Luncheon which I will be conducting in Budapest, Hungary on Wednesday, July 10, 2019 at 12:30 PM. An excellent meal will be followed by a wide-ranging discussion and a question-and-answer period. I’ll be giving you my up to date view on stocks,
Hang around any professional options trading desk and it will only be seconds before you hear the terms Delta, Theta, Gamma, or Vega. No, they are not reminiscing about their good old fraternity or sorority days (Go Delta Sigma Phi!). These are all symbols for mathematical explanations of how options prices behave when something changes.
Global Market Comments July 2, 2019 Fiat Lux Featured Trade: (MONDAY, JULY 8 VENICE, ITALY STRATEGY LUNCHEON) (HERE COMES THE NEXT BIOTECH REVOLUTION). (CVS), (AET), (BRK.A), (AMZN), (JPM), (CI), (AAPL), (NVDA), (IBM), (AMGN), (IBB), (BIIB), (CELG), (REGN)
Come join me for lunch at the Mad Hedge Fund Trader’s Global Strategy Luncheon which I will be conducting in Venice, Italy on Monday, July 8, 2019 at 12:30 PM. The event will be held at a hotel that was featured in both James Bond and Indiana Jones movies. Just watch for the swallowtail architectural
Technology and biotechnology are the two seminal investment themes of this century. And while many tech companies have seen share prices rise 100-fold or more since the millennium, biotech and its parent big pharma have barely moved the needle. That is about to change. You can thank the convergence of big data, supercomputing, and the
"Technology is going to be stealing market capitalization from other industries for the next ten years," said Gene Munster of Silicon Valley venture capital firm Loup Ventures.
Global Market Comments July 1, 2019 Fiat Lux Featured Trade: (FRIDAY, JULY 5 CAIRO, EGYPT STRATEGY DINNER) (OPTIONS FOR THE BEGINNER), (CHINA’S COMING DEMOGRAPHIC NIGHTMARE)
Come join me for dinner at the Mad Hedge Fund Trader’s Global Strategy Dinner which I will be conducting in Cairo, Egypt on Friday, July 5, 2019 at 7:00 PM. An excellent meal will be followed by a wide-ranging discussion and a question-and-answer period. I’ll be giving you my up to date view on stocks,
I strongly urge readers of this letter to log on to Amazon and buy a copy of Options for the Beginner and Beyond by W. Edward Olmstead. Options contracts offer investors a wonderful instrument for minimizing risk while maximizing the upside, and I am going to recommend many more such strategies in the future. So,
Quote of the Day "A lasting relationship with a woman is only possible if you are a business failure," said John Paul Getty, a Morgan Stanley billionaire client who was married five times.
Global Market Comments June 28, 2019 Fiat Lux Featured Trade: (TUESDAY, JULY 2 NEW DELHI, INDIA STRATEGY LUNCHEON) (TAKE A LEAP INTO LEAPS), (AAPL) (TESTIMONIAL)
Come join me for lunch at the Mad Hedge Fund Trader’s Global Strategy Luncheon which I will be conducting in New Delhi, India on Tuesday, July 2, 2019 at 12:30 PM. An excellent meal will be followed by a wide-ranging discussion and a question-and-answer period. I’ll be giving you my up to date view on
Global Market Comments June 27, 2019 Fiat Lux Featured Trade: (SUNDAY, JUNE 30 MANILA, PHILIPPINES STRATEGY LUNCHEON) (BUYING STRAW HATS IN THE DEAD OF WINTER), (TESTIMONIAL)
Come join me for lunch at the Mad Hedge Fund Trader’s Global Strategy Update, which I will be conducting in Manila in the Philippines at 12:00 noon on Sunday, June 30, 2019. An excellent meal will be followed by a wide-ranging discussion and a question-and-answer period. I’ll be giving you my up to date view
I am one of those demented people who buy flood insurance when the sun is shining and suntan lotion by the gallon from Costco in the dead of winter. I am such an inveterate bargain hunter that I even buy Christmas ornaments during the January sales when retailers are unloading inventories for pennies on the