ISM Services Index: Look out below!
One of the themes we have been hearing of late is that stocks, 10% off of their all time highs, are fully reflecting a recession. That...
The Flawed Fed Valuation Model
There are lots of things that investors believe which I find perplexing. The Superbowl indicator is one, but the oddest to me is the...
Open Thread: Financial Analysts
There’s an old joke on Wall Street: Analysts: You don’t need them in a Bull market, you don’t want them in...
Financial Sector: More Damage to Come
Someone needs to inform the SEC that their job is to protect shareholders — not wayward corporate management. For an SEC commission...
Monoline Insurance: There’s a New Sheriff in Town…
The monoline insurers — the firms that issued default insurance on muni bonds that never default — have been buried by more...
Profits vs Cash Flow
Mike Panzner passes along this intriguing chart: Not only are corporate profits at unsustainable 40-year highs relative to GDP, cash flow...
Goldman Sachs: Sell Tech Selectively
Yeoman’s work by Barron’s Eric Savitz, who pens the must read techblog Tech Trader Daily, in assembling a laundry list of...
Subpar Scorecard
Its travellin’ time, as most traders are en route back from where they were for Turkey day. For those of you left behind,...
Read it here 1st: Profits Flip Negative for Q3
On Friday, Merrill Lynch’s David Rosenberg notes that with "90% of the companies reporting, third-quarter earnings per share...