EUR/USD found support around 1.1170 area and rebounded to 1.1225 however resistance and sellers are keeping the pair contained. GBP/USD remained under pressure today after falling to 1.5138 yesterday. USD/JPY is also trading in familiar range with sellers at 120.50 and buyers waiting at support of 120.05 area. AUD/USD rally run out of steam after…
Another eventful couple of weeks have passed, and I think we can all agree that everyone now has a clear understanding of where we are with respect to the economic policy being pursued by the US Federal Reserve. Oh no hold on, that’s the alternate world. In this one investors are going bald from all…
Our earlier update on demographic trends in employment included a chart illustrating the growth (or shrinkage) in six age cohorts since the turn of the century. In this commentary we’ll zoom in on the age 50 and older Labor Force Participation Rate (LFPR). But first, let’s review the big picture. The overall LFPR is a simple computation:…
I’ve been mentioning the triangle pattern that crude’s been bouncing within for quite a few weeks. It finally peeked outside the triangle four days ago (tinted below) but fell back. That was the “tipping of the hand”, though. It clearly pushed above the pattern yesterday, and today it is picking up steam, racing ahead nearly…
I have very complex, mathy ways to size positions. But since I get asked a lot about sizing, here is a quick, dirty approximation for how it works in practice: First investment (1.25%): This is better than nothing. Based on my research, it has a positive expected value and its discount to its EV is…
While ModernGraham supports the bottom-up approach to investing, many investors do utilize the top-down method, whereby an industry is selected before the company itself. With that in mind, this article will take a brief look at the best companies of the Insurance industry, selecting the most promising investment opportunities within the industry, and giving a broad…
While ModernGraham supports the bottom-up approach to investing, many investors do utilize the top-down method, whereby an industry is selected before the company itself. With that in mind, this article will take a brief look at the best companies of the Insurance industry, selecting the most promising investment opportunities within the industry, and giving a broad…
CytomX Therapeutics (NASDAQ:CTMX) expects to raise $100 million in its upcoming IPO. Based in South San Francisco, California, CytomX Therapeutics is a biopharmaceutical company focused on developing treatments for cancer. CTMX will offer 6.67 million shares at an expected price range of $14 to $16. If the underwriters price the IPO at the midpoint of that…
Mark Carney is Canadian by birth. He’s also Irish, at least by citizenship. He went to college at Harvard, then joined Goldman Sachs. He worked in the Canadian Department of Finance, eventually becoming the Governor of the Bank of Canada. That’s a pretty good career by itself, but he didn’t stop there. He’s since jumped…
A quick recap to the trade data released today paints a mixed picture. The unadjusted three month rolling average value of exports decelerated month-over-month – but imports accelerated. Many care about the trade balance (which decreased marginally relative to last month), and the trade balance grew. Import goods growth has positive implications historically to…
