Logo Background RSS
Gold mining stocks have been treading water for what seems like forever. But in a remote part of Australia, a potentially big find by a tiny exploration company...

Most Recent Articles

  • Crude Oil Sinks 20%: Why Oversupply Isn’t the H...
    By on June 29, 2017 | No Comments  Comments
    I have a friend… let’s call him Larry. Let’s just say, Larry is not a fan of taking risks. He likes his reflexes fast, his cars slow, and his financial markets secure for the long haul. So, when Larry called me up at the beginning of this year to say he’s boarding the highly-...
  • A Look at NYSE Margin Debt and the Market
    By on June 29, 2017 | No Comments  Comments
    The NYSE has released new data for margin debt, now available through May. The New York Stock Exchange publishes end-of-month data for margin debt on the NYX data website, where we can also find historical data back to 1959. Let’s examine the numbers and study the relationship between marg...
  • Signs Of Excess: Crowding & Innovation
    By on June 29, 2017 | No Comments  Comments
    I have regularly written about the many shortcomings of human psychology when it comes to investing. More importantly, while the emotions of “greed” and “fear” are the predominant drivers of not only investor behavior over time, they are also attributable to the development and delivery of t...
  • World Markets Update
    By on June 28, 2017 | No Comments  Comments
    All eight indexes on our world watch list have posted gains for 2017 through June 26. The top performer thus far is China’s Hang Seng with a gain of 17.60%, followed by India’s BSE SENSEX not far behind at 16.94%. In third is our own S&P 500 with 8.94%. The Last Four Weeks The table...
  • Understanding The Cryptocurrency Boom
    By on June 25, 2017 | No Comments  Comments
    I recently came across a December 1996 San Jose Mercury News article on tech pioneers’ attempts to carry the pre-browser Internet’s bulletin board community vibe over to the new-fangled World Wide Web. In effect, the article is talking about social media a decade before MySpace and Facebook and ...
  • Weekend Reading: Oil Slick
    By on June 24, 2017 | No Comments  Comments
    Beginning in December of last year, following the announcement by OPEC of a cut in oil production, I have discussed the “headwinds” that persist against a sustained rise in oil prices. “The supply/demand dynamics currently suggest that oil prices and energy-related investments could find a lon...
  • Gold Summer Doldrums!
    By on June 24, 2017 | No Comments  Comments
    Gold has spent most of June grinding lower on balance, damaging sentiment and vexing traders.  Usual selling leading into the Fed’s latest rate hike contributed, but the summer doldrums are also in play.  Gold has typically suffered a seasonal lull this time of year, on waning investment demand...
  • Data Says Fed Is Making A Mistake
    By on June 24, 2017 | No Comments  Comments
    In their policy announcement last week, the members of the FOMC claimed: “Information received since the Federal Open Market Committee met in May indicates that the labor market has continued to strengthen and that economic activity has been rising moderately so far this year.” Economic data has...
  • Automation’s Destruction of Jobs: You Ain’...
    By on June 23, 2017 | No Comments  Comments
    Employers have no choice: it’s innovate/automate or die. Automation–networked robotics, software and processes–has already had a major impact on jobs. As this chart from my colleague Gordon T. Long illustrates, the rise of Internet technologies is reflected in the steady, long-term...
  • The Q Ratio and Market Valuation: Z.1 Update
    By on June 22, 2017 | No Comments  Comments
    The Q Ratio is a popular method of estimating the fair value of the stock market developed by Nobel Laureate James Tobin. It’s a fairly simple concept, but laborious to calculate. The Q Ratio is the total price of the market divided by the replacement cost of all its companies. Fortunately, th...
  • What Is the Market Telling Us?.
    By on June 21, 2017 | No Comments  Comments
    The entire global economy now depends on this stripped-of-information “market” for its stability. Ho-hum, another day, another record high in the S&P 500 (SPX). What is this market telling us? If you’re long, the market is screaming “you’re a genius!”: But ot...
  • The Illusion Of Declining Debt To Income Ratios
    By on June 21, 2017 | No Comments  Comments
    In some states, when a couple enters into divorce, the court may award “alimony,” or spousal support, to one of the former spouses for the express purpose of limiting any unfair economic effects by providing a continuing income to the spouse. The purpose is to help that spouse continue the “s...
  • Technically Speaking: The Evaporation Of Risk
    By on June 21, 2017 | No Comments  Comments
    On Monday, the markets broke out, again, to all-time highs. This is not surprising and something that I noted over the weekend. To wit:  “Stepping back from the sector-specific action, if you only looked at the S&P 500 to judge what was happening in the markets, you wouldn’t suspect anythin...
  • Is Amazon/Whole Foods This Cycle’s AOL/Time Warner ...
    By on June 20, 2017 | No Comments  Comments
    Towards the end of the 1990’s tech stock bubble, “new media” – i.e., the Internet — was ascendant and old media like magazines, newspapers and broadcast TV were yesterday’s news. This was reflected in relative stock valuations, which gave Internet pioneer AOL the ability to buy vene...
  • We Are Getting Very Close To An Inverted Yield Curve ...
    By on June 20, 2017 | No Comments  Comments
    If something happens seven times in a row, do you think that there is a pretty good chance that it will happen the eighth time too?  Immediately prior to the last seven recessions, we have seen an inverted yield curve, and it looks like it is about to happen again for the very first time since the...
  • Weekend Reading: Charged With Obstruction
    By on June 20, 2017 | No Comments  Comments
    No! I am not talking about President Trump but rather the crash in both Technology stocks, and Oil prices, which are obstructing the continuation of the “bull market.”  As I discussed this past Tuesday, the mini “flash crash” in Technology certainly woke investors up. “While there is cer...

Member Login

Search