Author Archives: Darren Marchal
March 2015 List Of Dividend Aristocrats
The Dividend Aristocrats Index is comprised of 53 stocks that have paid dividends for 25+ consecutive years. In addition to the exclusive dividend history requirement, Dividend Aristocrats must also be members of the S&P 500 Index and meet certain size and liquidity requirements. The Dividend Aristocrats Index has outperformed the market by a wide margin over…
January 2015 CoreLogic Home Prices Year-Over-Year Growth Rate Acc
Econintersect: CoreLogic’s Home Price Index (HPI) shows that home prices in the USA are up 5.7% year-over-year (reported up 1.1% month-over-month). There is considerable backward revision in this index which makes monthly reporting problematic. CoreLogic HPI is used in the Federal Reserve’s Flow of Funds to calculate the values of residential real estate. This is…
Who Needs Fundamentals When You Have The Fed
These two charts tell you all you need to know about how disconnected Wall Street is from reality. Corporate profits are tanking. Consumer spending is tanking. Inflation in the things you need to live your everyday life is rising. Real median household income lingers at levels from 25 years ago. Greece, Portugal, Italy, Spain and…
Active Managers Near Most Bullish Levels Ever, What’s Next
CLICK CHART TO ENLARGE With the many of the major stock indices hitting all-time highs, would it be a surprise to see money managers excited about the markets? If they would happen to be excited, could that be a bearish signal for the markets? The upper left table reflects that the National Association of Active Investment…
Testy Tuesday – Nasdaq 5,000 And Bust!
Boy is this getting silly. Apparently, we never learn. Well, we at PSW learn. We’ve been hedging the crap out of this rally for reasons that should be entirely evident on this chart – earnings are NOT GOOD! If earnings aren’t good, then why are companies racing up to all-time high valuations? Simply…
Morning Call For March 3, 2015
OVERNIGHT MARKETS AND NEWS March E-mini S&Ps (ESH15 -0.14%) this morning are down -0.09% and European stocks are down -0.19% led by a decline in bank stocks after Barclays fell over 3% when it said it set aside 750 million pounds ($1.2 billion) for the settlement of a currency-manipulation probe. Also, data from the Basel Committee on Banking Supervision said…
The Q Ratio And Market Valuation: Monthly Update
Note from dshort: I’ll be taking another look at this market valuation indicator shortly after the Federal Reserve releases the Q4 Financial Accounts at noon EST on March 12th. The Q Ratio is a popular method of estimating the fair value of the stock market developed by Nobel Laureate James Tobin. It’s a fairly simple concept,…
Market Wrap: Futures Decline; Treasurys Weak On Actavis Mega-Deal
With little newsflow out of Europe, and just as little on deck out of the US (just NY ISM and auto sales later today), the main overnight events were out of Asia where first the RBA decided to leave rates unchanged (despite the majority calling for a rate cut) when as Bloomberg’s Richard Breslow noted,…
Ukraine And Gazprom: Ceasefires, Gas Stops, And Pipeline Question
For an international exporter of natural gas, Gazprom (GAZP) has seen its deal of shaky times. More recently, however, Gazprom’s stock price has suffered as a direct result of the conflict in Ukraine. Russia hosts the world’s largest extractor of natural gas, Gazprom, but the Russian government has also been entangled in the political instability in Ukraine for some…