S&P 500 Earnings and the Energy Sector
Last night, I disagreed with Larry about the meaning of earnings and the relative importance of energy and commodities. Instead of...
Margin Loans Make a Comeback
Our parade of anecdotal evidence continues. Next up a WSJ article on Margin Loans. "As borrowing costs increasingly pinch consumers,...
Dow Jones/Gold Relative Ratio, Annual Data from 1896
This chart from technician John Roque shows periods of Dow/Gold ratio. The first two bold blue lines highlight the 14-year periods when...
After Final Discount Rate Hike
Todd Buchholz was on CNBC this morning. I have recommended his book "New Ideas from Dead Economists" in the past. He may be a...
Fed Halt Now Baked into the Cake
Yesterday’s moonshot was a marvelous thing to behold. The market took off on soft PPI and housing data, lit the second stage...
First Quarter Gains, We Hardly Knew Ya
How is it possible that many of the year-to-date gains for the major indices – excepting the first weeks’ run up – have been all...
YTD Charts: NDX, SPX, Nasdaq, Dow, Russell 2000
As of yesterday’s close, the year-to-date gains for many of the major indices – excepting the first week run up – have been...
Choosing Risk Over Dividends
One last piece of not-so-anecdotal evidence: We have previously mentioned the relative outperformance of low quality stocks. What...
The Basic Tenets of My Investment Consciousness
Doug Kass published a terrific column — a list of sorts — of his investment tenets. The concepts that form the basis of...
