Marc Faber: Here Comes the Bear Market

Give credit where credit is due: Faber admits his prior crash forecast(s) were wrong.

How wrong? Calculated Risk observes that the market is up 40% since his 2012 prediction.

 

Marc Faber: The asset bubble has begun to burst, here comes the bear market

Source: CNBC

 

Category: Really, really bad calls, UnGuru, Video

10 Wednesday PM Reads

My afternoon train reads : • BlackRock: The $4.3 trillion force (Fortune) • Workers are cutting back on stock of their own companies in a welcome sign of investment maturity (MoneyBeat) see also Dow 17,000 is on the wrong side of history (MarketWatch) • Michael Lewis: Deeb the Conqueror Bears His Soul Before Mama (Bloomberg View)…Read More

Category: Financial Press

How Not to Beat the Market

Hat tip Josh Brown   Today’s chart comes to us from Patrick O’Shaughnessy, author of the forthcoming book, “Millennial Money: How Young Investors Can Build a Fortune.” O’Shaughnessy makes the observation that investing is “almost free” and investor behavior tends to matter more than their actual investments. As an example, he cites this chart.  Continues…Read More

Category: Cognitive Foibles, Investing

Summers in the Future

Category: Digital Media, UnScience

10 Wednesday AM Reads

My morning reads, perfect for hump day (continues here): • Why trading volume is tumbling, explained in 5 charts (MarketWatch) • Are you the best trader ever? (Irrelevant Investor) see also 7 market myths that make investors poorer (MarketWatch) • A Fourth of July inflation bugaboo (Columbia Journalism Review) • Born in 1988. Sorry. (Bloomberg…Read More

Category: Financial Press

Freeriding Corporations Need to Pay their Fair Share

Allan Sloan, editor-at-large for Fortune magazine, is angry. And with good reason: He is upset at a lot of U.S. corporate executives who are engaging in “inversion.” This is the process of moving the location of incorporation to a tax haven and skipping out on paying U.S. taxes (short list here). Even though the company…Read More

Category: Corporate Management, Taxes and Policy

1980s Parallel to Today

On today’s “Chart Attack,” Bloomberg’s Barry Ritholtz looks at a chart that suggests the S&P 500 Index could be headed for a major crash. He speaks with Trish Regan on Bloomberg Television’s “Street Smart.”

What the 1982-87 Parallel to Today Could Mean

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JPMorgan’s James Liu, Global Financial Private Capital’s Mike Sorrentino and Bloomberg’s Barry Ritholtz discuss the outlook for U.S. stocks and Federal Reserve monetary policy on “Street Smart.

Are Stocks at the Beginning of a Serious Bull Run?

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Alcoa reported second-quarter earnings and sales that beat analysts’ expectations after an increase in the price of aluminum including regional delivery premiums. JPMorgan’s James Liu and Bloomberg’s Trish Regan, Julie Hyman, Matt Miller and Barry Ritholtz take a look at the numbers on “Street Smart

Alcoa Earnings Beat After Jump in Aluminum Premiums

Source: Bloomberg, July 8 2014

Category: Investing, Media, Video

Mutual Assistance Between Federal Reserve Banks: 1913-1960

Category: Think Tank

Big Banks Want Power to Declare Cyber War

Merger of Big Banks and National Security Power … What Could Possibly Go Wrong? Bloomberg reports: Wall Street’s biggest trade group has proposed a government-industry cyber war council to stave off terrorist attacks that could trigger financial panic by temporarily wiping out account balances, according to an internal document. The proposal by the Securities Industry…Read More

Category: Legal, Think Tank, War/Defense

10 Tuesday PM Reads

My afternoon train reads: • Rail Traffic Is Growing Like Crazy (Business Insider) but see People are quitting their jobs less often. And why that’s a bad thing. (Real Time Economics) •  Asia — The Tigers are Ready to Roar (Brandt) • IEX pricing aims to drain ‘dark pools’ (WSJ) • End to China’s property…Read More

Category: Financial Press