It should be fairly evident by now that heavy redemptions at hedge funds over the past two months contributed significantly to the recent pounding in the one area where markets are liquid – stocks. Moreover, the deleveraging process continues to impact many hedgies as available capital (for leveraged...
My conversation with Standard and Poors' Equity Research Chief Investment Strategist includes how stocks tend to perform when one party controls government, fourth quarter of an election year stock performance, first year of a new administration and stock performance, and the earnings estimate split...
My conversation with the Director of Research for Investment Management Associates and author of "Active Value Investing: Making Money in Range-bound Markets" includes the rationale why equities are in a range bound market, the "active value investing" approach to stock selection...
In my interview with the Director of Global Equity Products for Jefferies & Co. we explored his shallow recession call, fairly strong operating earnings outlook, sectors (and industries within) that look attractive and ones to avoid, and the influence and importance of hedge funds. The length of...
The economic debate seems to have settled into which letter best fits the future trend of the US economy: V, U, L, or W? The most bullish group, which includes many in the Goldilocks-redux crew, believe in the down (maybe strong) then up US economic scenario. V for victory, perhaps. Then there is the...
excerpts from this week’s report: Model Growth Portfolio (MGP) “What can I say? Yet another strong relative performance week for the MGP (that makes it 7 out of the last 8, 13 out of the last 15, and 15 out of 20 for the year) lifts the year-to-date relative performance results at another...
Friday's appearance on BNN TV enabled me to expand upon the rotational aspects of the market as well as other items. The length of the interview is 6 minutes 2 seconds.
Since “inflection day”*, the equity markets have witnessed a modest increase in risk appetite. This is evidenced by several indicators (credit spreads, TAF and TSL auctions, for example) as well as by the trading action between and among various market indices. To illustrate, the charts to...
text from yesterday's weekly report: As the "Inflection Day" rally rolls on, a rotational pattern seems to be emerging. The recent emerging weakness in Consumer Staples combined with strength in areas such as Consumer Discretionary and Mid Cap Growth suggest a sustainable near term rally...
There’s a certain feebleness to the current US equity rally that the accompanying chart* shows quite clearly and should be a cause for concern to the bulls. To begin, it is always more encouraging when Momentum (first indicator) is more robust. Failing to reach even the 100 mark is not inspiring. Moving...