A Fascinating Parallel We have recently discussed the sentiment and positioning backdrop in gold on two separate occasion, as it has once again reached rarely encountered extremes (see “Gold Panic” and “Gold and the Grave Dancers” for details). Image via bullionstreet.com Not much has changed on that front, except for the fact that small speculators have increased…
Warren Buffett, Daniel Loeb, and T. Boone Pickens have all invested in Phillips 66. The company trades at a price-to-earnings multiple of just 11.8 using adjusted earnings-per-share. The company has an above-average 2.7% dividend yield as well. At first glance, Phillips 66 appears undervalued. This article takes a deeper look into the company’s operations to…
Don’t say we didn’t warn you! Last Tuesday we told you commodities were collapsing (check) and that Chinese weakness would spread to the region (check) and cause other Asian and Emerging Markets to begin collapsing (check) and, more importantly, that there was nothing we could do to stop the NYSE and the Dow from forming “death…
Yesterday, immediately in the aftermath of the PBOC’s dramatic devaluation announcement, we remarked the following: Been a while since tens of millions of Chinese rushed into gold and bitcoin — zerohedge (@zerohedge) August 11, 2015 To be sure, while it will take the Chinese mainland a few more hours to realize just what happened, and…
The German ZEW announcement is about the only thing that we see that can move the markets during the session today, so quite frankly we expect fairly quiet trading. This could move the DAX and the Euro, but at the end of the day we believe that those markets have already made up their minds….
Hot stocks of the day: GDX, FB, BAC, AIG, EEM Video length: 00:03:32
I’m not above keeping the money that I find in the clothes dryer. I’m happy to snag a single or even a five-dollar bill, but coins are also appreciated. The cash usually belongs to one of the kids, and I figure that if they were careless enough to let it go through the laundry, then…
In the wake of the surprise move from the People’s Bank of China (PBOC), higher-risk currencies such as the Euro received an unexpected boost. Analysts say that investors could see the PBOC move as the trigger for a currency war which could benefit Gold in the short term. As a commodity, Gold tends to gain…
No-One is Paying Attention – Yet Almost exactly one year ago, we penned several articles on what we believed to be a dangerous bubble in corporate debt. The boom in both prices and bond issuance was primarily driven by the desperate “hunt for yield” of investors starved of interest-income by the inane ZIRP and NIRP…
Tomorrow, August 12, Alibaba (BABA), one of China’s premier internet companies will report its quarterly earnings. They will command more attention than one might suspect by global fund managers. After learning that MSCI refused to include China’s mainland A-shares into its global indices in June, many observers thought the issue was over. Yes, there was a…
