Silver as an investment

Category Archives: Financial ratios

“Why Does Extraordinarily Low Volatility Matter” Baupost Explains…

With elites increasingly sounding the alarm about the state of the stock market, and various market participants fearing the complacency is masking the fragility of the market's true character; it is no surprise that Baupost's recently named President and Head of Public Investments, Jim Mooney, has joined the chorus. While Mooney (and Klarman's) warning regarding […]

How Big Of A “Deleveraging” Are We Talking About?

Authored by Lance Roberts via RealInvestmentAdvice.com, Last week, I discussed the issue of debt and why “people buy payments.” This article generated much discussion and several emails including the following. “You argue that rising debt levels lead to slower economic growth, but what if it is slower growth leading to rising debt levels?” This is […]

The Difference Between “Old” And “New” Retail? A Record 50x PE Turns

In the battle between “old” (bricks and mortar) and “new” (online) retail, few will survive although according to the market, the winner couldn’t be more clear. As BofA’s Savita Subramanian writes in her latest relative value cheat sheet report, “retailers compete for share of the total consumer wallet, and it is old news that online […]

A VIX Below 10 Means This…

The CBOE VIX Index closed today at 10.11 (having traded with a 9 handle briefly intraday), which got ConvergEx's Nicholas Colas wondering what a single-digit reading may indicate about US stocks.  Three historical periods back to 1990 feature a sub-10 VIX: December 1993, January 1994, and Dec 2006/Jan 2007.  In each case, US equities were […]

Building the “Perfect” Digital Investment Portfolio & How to Value “Hard to Value” tokens, Pt 1

The golden grail of investing is to find that investable asset that provides the greatest reward with the least risk. Alas, despite how commonsensical that precept seems to be, many “professional” investors and analysts seem to miss the point. You often hear, those who only see rewards (or lack thereof, ie. “Hey, Ether went up […]

Bubble Alert: Stocks Are Trading Based on Accounting Gimmicks and Fraud, Not Growth

Time to bust yet another hole in the “stocks are cheap” argument. As we’ve already noted earlier this week, based on the only valuation metric that can’t be massaged, stocks are more expensive than they were in 2007 and on their way to tying the all-time high established in 1999. Source: The King Report Of […]

Deutsche Bank Tumbles Most In 5 Weeks After Earnings Disappoint Across The Board

On the surface, Deutsche Bank’s results this morning came in better than expected with first quarter earnings more than doubling as Germany’s biggest bank benefited from a pick-up in market activity at the start of the year. In the three months to March, Deutsche managed to make a net profit of €575m, more than double […]

Ford Stock Slumps To Post-Election Lows After Slashing Guidance

With auto loan growth collapsing… And after admitting that "auto sales have reached a plateau,"  – Below are some of the key comments from Ford executives describing the current conditions in the auto market: "For the remainder of the year, we continue to see retail in the industry provide incentives still running at historically high […]

Will Yesterday’s Market Selloff Turn “Emotional”: Here Are The Key Indicators RBC Is Looking At

Yesterday’s sharp S&P selloff, the largest of 2017, and the first time the market dropped by more than 1% in 110 trading days, may be just the beginning: that is the troubling thesis presented by JPM’s quant Marko Kolanovic, who as we quoted yesterday, warned that “following Friday’s option expiry, the gamma imbalance shifted towards […]

Credit Suisse “Climbs The Wall Of Worry”, Raises S&P Target To 2,500 From 2,350

Following bearish reports from Goldman (which tactically downgraded stocks to Neutral for the next three months just hours before the Fed rate hike), RBC and JPM’s head quant Marko Kolanovic over the past week, overnight Credit Suisse decided to take the other side of the trade and hiked its year end forecasts for the S&P500, […]