When it comes to Central Bankers around the world, two things come to mind. (1) – They are attempting to inflate things, via printing money in countries all over the world. (2)- Inflation is sure NOT taking place in these assets below! Crude Oil, which may be the most important commodity on the planet, is now testing rising…
New York municipal bond mutual funds seek steady income exempt from Federal and New York income tax. In order to achieve tax-free stable income, it invests in municipal debt obligations of issuers from the state. Meanwhile, municipal bonds or “munis” are debt securities issued by state and local governments to borrow money. These are preferred…
Given that Black Friday weekend, including Thanksgiving itself, was uninspiring, the fact that the Commerce Department’s estimates for retail sales for all of November were again among the worst shows that Black Friday actually remains a pivotal part of the holiday setup. The trend has been to dismiss the traditional Christmas buying season kickoff as if…
A new paper from Christian Walkshäusl and Sebastian Lobe* called The Enterprise Multiple Investment Strategy: International Evidence, examines the performance of the enterprise multiple (EV/EBITDA) in international markets, including Australia, Canada, France, Germany, Hong Kong, Japan, Singapore, Sweden, Switzerland and the UK. The paper, published in the Journal of Financial and Quantitative Analysis, confirms the U.S. evidence that cheap enterprise multiple stock outperform expensive enterprise…
If you’ve ever traded options, you’re likely aware of the “Greeks.” Delta, which compares the change in price of an underlying asset with the corresponding change in the price of a derivative, and vega, which measures an option’s sensitivity to changes in the volatility of the underlying asset, are the most popular. But theta is another…
The bigger the bear market, the more furious the next bull market, especially with commodities. When a bear market like this in commodities is so deep, production will be destroyed. In a new bull market fase it takes a lot of time to build new production. That’s why the next bull market will be maniacal. Rick Rules…
Retail sales disappointed once again today. And for the second month in a row, autos led the decline. Last month retail sales rose 0.1%. This month retail sales rose 0.2% vs. a Bloomberg Consensus Estimate of a 0.3% rise. Nonetheless, Bloomberg analysts cite hidden strength. Hidden Strength? Once again the headline for the retail sales report understates…
Leggett & Platt (LEG) was founded in 1883. Here’s some other notable eventsform 1883: Time zones were created Krakatoa volcano erupted Buffalo Bill created his Buffalo Bill Wild West Show Much has changed in the world since 1883, but Leggett & Platt is still around. The company has a market cap of nearly $6 billion today….
Traders love correlations in markets, and it’s likely because correlations present an overly-simplified way to approach a market by looking at peripherals to get an idea for what might happen down the road. One example of this is the Canadian Dollar’s correlation with Oil. Canada is a big exporter of Oil, and this provides a significant…
The Census Bureau’s Advance Retail Sales Report released this morning shows that seasonally adjusted sales in November increased 0.2% month-over-month and are up 1.4% year-over-year. Core Retail Sales (ex Autos) came in at 0.4% MoM and are up only 0.7% YoY. The Investing.com forecasts were 0.3% for both Headline and Core Sales. The chart below is a log-scale snapshot…
