Global Market Comments April 26, 2013 Fiat Lux Featured Trade: (WHY I?M COVERING MY BOND SHORTS), (TLT), (TBT) (STEVE JOBS? LAST LAUGH), (AAPL), (GRAPES OF WRATH REDUX) iShares Barclays 20+ Year Treas Bond (TLT) ProShares UltraShort 20+ Year Treasury (TBT) Apple Inc. (AAPL)
I am going to bail on my (TBT) position at close to cost. For me, it is amazing that we got a 350-point rally in the Dow and ten-year Treasury bond yields only manage to eke out a gain from 1.68% to 1.72%. I scoured the bond trading pits in Chicago yesterday, and the answer
Nothing beats instant gratification. Bragging rights are nice too. On Monday, when I strapped on this trade, angry readers emailed me to tell me that I was truly out of my mind. Apple was an ex-growth company, had lost its ability to innovate, shed its ?cool? factor, and had fallen behind Samsung with its large
It?s another sign of the times when the weekend fruit picker population is doubled by people hard hit by the economy, looking to save money on food costs. After driving through miles of undulating brown hills studded with oak trees, passing mile upon mile of horse ranches, rusted out cars, and abandoned mobile homes, you
Global Market Comments April 25, 2013 Fiat Lux Featured Trade: (MAY 8 LAS VEGAS STRATEGY LUNCHEON), (SELL IN MAY HAS ALREADY STARTED), (SPY), (IWM), (TLT), (TBT), (GLD), (SLV), (USO), (UNG), (CHINA?S VIEW OF CHINA), (FXI), (EEM) SPDR S&P 500 (SPY) iShares Russell 2000 Index (IWM) iShares Barclays 20+ Year Treas Bond (TLT) ProShares UltraShort 20+
Come join me for lunch at the Mad Hedge Fund Trader?s Global Strategy Update, which I will be conducting in Las Vegas, Nevada on Wednesday, May 8, 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
You don?t have to wait until May for the next correction in the stock market, which is only four trading days away. Take a look at the charts below prepared by my good friends, Arthur Hill and John Murphy at Stockcharts.com, and you?ll see it has already started. In fact, it might be almost over.
I ran into Minxin Pei, a scholar at the Carnegie Endowment for International Peace who imparted to me some iconoclastic, out of consensus views on China?s position in the world today. He thinks that power is not shifting from West to East; Asia is just lifting itself off the mat, with per capita GDP at
Global Market Comments April 24, 2013 Fiat Lux Featured Trade: (JULY 2 NEW YORK STRATEGY LUNCHEON), (THINGS ARE HEATING UP IN MEXICO), (EWW), (UMX), (BSMX), (EEM), (BUDGET CUTS HOT THE WILD ANIMAL MARKET) iShares MSCI Mexico Capped Invstbl Mkt (EWW) ProShares Ultra MSCI Mexico Cppd IMI (UMX) Grupo Financiero Santander S.A.B. de C.V. (BSMX) iShares
Come join me for lunch for the Mad Hedge Fund Trader?s Global Strategy Seminar, which I will be conducting in New York, NY on Tuesday, July 2, 2013. An excellent three-course lunch will be provided. A PowerPoint presentation will be followed by an extended question and answer period. I?ll be giving you my up to
I have fond memories traveling around northern Mexico during the 1950?s. My grandfather used to drive us across the border into Baja in his pickup truck, the back loaded with camping equipment, water, fishing poles, rifles, and shotguns. There was no border control. To eat, we only had to wait for the tide to go
In case you missed it, the second hand animal market has crashed. Forced to slash budgets by cash starved municipalities, the nation?s public zoos have been paring back their collections of living exhibits. The Washington Zoo is trying to offload a 7,000 pound hippopotamus; while the San Francisco Zoo is short some tigers after one
When the Dow crashed 514 points in a single day a few years ago, the market lost a staggering $850 billion in market capitalization. High frequency traders were possibly responsible for half of this move, but generated a mere $65 million in profits, some 7/1,000?s of a percent of the total loss. Are market authorities
Global Market Comments April 23, 2013 Fiat Lux Featured Trade: (MAY 8 LAS VEGAS STRATEGY LUNCHEON), (PROBING FOR A BOTTOM IN GOLD), (GLD), (IS THIS THE FINAL BOTTOM FOR APPLE?), (AAPL), (GOOG), (JCP) SPDR Gold Shares (GLD) Apple Inc. (AAPL) Google Inc. (GOOG) J. C. Penney Company, Inc. (JCP)
Come join me for lunch at the Mad Hedge Fund Trader?s Global Strategy Update, which I will be conducting in Las Vegas, Nevada on Wednesday, May 8, 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
Thanks to last week?s Armageddon type crash in gold prices, implied volatilities on options in the SPDR Gold Trust Shares (GLD) have rocketed to five-year highs. This is in sharp contrast to equity index option implieds, which are just a few percent above six year lows. Therefore, the deep in the money option strategy in
Apple has been one of the great conundrums of the investment industry this year, the stock falling through the floor of any standard valuation model. With the shares at $395 the stock is discounting a 12% drop in earnings per year for the next several years. Either something terrible is about to happen at Steve
Global Market Comments April 22, 2013 Fiat Lux Featured Trade: (MAY 8 LAS VEGAS STRATEGY LUNCHEON), (THE TAX RATE FALLACY), (AN AFTERNOON WITH BOONE PICKENS)
Come join me for lunch at the Mad Hedge Fund Trader?s Global Strategy Update, which I will be conducting in Las Vegas, Nevada on Wednesday, May 8, 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
When anyone starts lecturing you that the US has the highest tax rate in the industrialized world, just turn around, walk away, and pretend you never heard of them. This person is either ignorant about this country's taxation system, or is deliberately trying to deceive you. According to a report released by the Internal Revenue