You Were Warned Of The Risk

I have been slammed with emails over the last couple of days asking the following questions: “What just happened to my bonds?” “What happened to my gold position, shouldn’t it be going up?” “Why are all my stocks being flushed at the same time?” As noted by Zerohedge: “Stocks down, Bonds down, credit down, gold […]

Sellable Rally, Or The Return Of The Bull?

Typically, “Technically Speaking,” is an analysis of Monday’s market action, and the relevant risk/reward dynamics for investors. However, this week, we need to update the strategy we lain out in this past weekend’s newsletter, “Market Crash & Navigating What Happens Next.” Specifically, we broke down the market into three specific time frames looking at the […]

Earnings Lies & Why Munger Says “EBITDA is Bull S***”

Earnings Worse Than You Think Just like the hit series “House Of Cards,” Wall Street earnings season has become rife with manipulation, deceit and obfuscation that could rival the dark corners of Washington, D.C. What is most fascinating is that so many individuals invest hard earned capital based on these manipulated numbers. The failure to understand the “quality” […]

#MacroView: Japan, The Fed, & The Limits Of QE

This past week saw a couple of interesting developments. On Wednesday, the Fed released the minutes from their January meeting with comments which largely bypassed overly bullish investors. “… several participants observed that equity, corporate debt, and CRE valuations were elevated and drew attention to  high levels of corporate indebtedness and weak underwriting standards in […]