Bill Ackman Q3 letter stay tuned for analysis – below are excerpts on Valeant, Fannie Mae, Freddie Mac and Herbalife …………….. Valeant (VRX) Valeant’s stock price declined significantly in the quarter as a result of statements by politicians regarding drug price increases, subpoenas from regulators, attacks by short sellers, and the termination of Valeant’s relationship…
Gold prices are higher in Asia trade, trading up 0.4% at $1064.80 an ounce, ahead of the Federal Reserve’s policy statement due later today. Fed officials will update their forecasts for the growth, unemployment and inflation, and Chair Janet Yellen is scheduled to give a post-meeting press conference. While some feel that after months of…
by Maurice Obstfeld, Oya Celasun, Mandy Hemmati and Gian Maria Milesi-Ferretti IMF data showed that the dollar value of ‘planetary GDP’ fell in 2015, but the IMF projects that world real GDP growth and inflation will be positive. This column notes that there is no inconsistency here. The decline in the dollar value of ‘planetary…
As commodity prices continued to tumble last week, the benchmarks ended lower, with the S&P 500 posting its biggest weekly decline since August. Relentless decline in oil prices weighed on the broader markets. U.S. crude oil prices stayed near their seven-year low on fears of continued supply glut. And mild weather intensified the downward pressure…
Euro technical positioning continues to warn of a possible top being formed against the British Pound as negative RSI divergence warns of ebbing upside momentum. Prices narrowly overturned bearish cues noted late last week but the case for a downside reversal has yet to be invalidated in earnest. A reversal below the 23.6% Fibonacci expansion at 0.7181…
(T2108 measures the percentage of stocks trading above their respective 40-day moving averages [DMAs]. It helps to identify extremes in market sentiment that are likely to reverse. To learn more about it, see my T2108 Resource Page. You can follow real-time T2108 commentary on twitter using the #T2108 hashtag. T2108-related trades and other trades are occasionally posted on…
After several months of significant reserves liquidations by China (specifically by its Euroclear proxy “Belgium”) which tracked the drop in China’s reserves practically tick for tick, in October Chinese+Belgian holdings were virtually unchanged according to the latest TIC data, as China moderated its defense of its sliding currency. Of course, putting this in context still…
With a new year just around the corner, analysts at Piper Jaffray have compiled their top picks for 2016. Dozens of stocks from all sectors made the cut, including Apple Inc. (NASDAQ:AAPL), Novavax, Inc. (NASDAQ:NVAX), Oracle Corporation (NYSE:ORCL), and Starbucks Corporation (NASDAQ:SBUX). Apple Inc. Analyst Gene Munster spells out several reasons explains why Apple is a top…
If you find yourself in Asia looking for business opportunities, stay away from China. High labor costs over the last few years have pushed up the price of doing business in Shenzhen, a major business metropolis in the southern Guangdong province that links Hong Kong to China’s mainland, and thousands of factories owned by Hong…
While everyone seems to place a huge question of will the Fed raise rates or not, the markets have factored in the rate rise already for sometime. The Fed was scheduled to raise rates in June, but the IMF turned to the press to criticize them to prevent rate hike. Then in September, the IMF,…
