Silver as an investment

Category Archives: LBO

Stockman Warns “Mind The Junk” – This Ain’t Your Grandfather’s Capitalism

Authored by David Stockman via Contra Corner blog, The financial system is loaded with anomalies, deformations and mispricings – outcomes which would never occur on an honest free market. For example, the junk bond yield at just 2% in Europe is now below that of the "risk-free" US treasury bond owing solely to the depredations of the ECB. Indeed, […]

Bill Blain: How To Catch Rabies In The Junk Bond Market

From Bill Blain of Mint Partners Blain’s Morning Porridge – How to catch rabies in the Junk Bond Market I’m sure everyone has been following the Toy R Us meltdown in the bond market. Alongside chapter 11 bankruptcy, its bonds have crashed from 96 to 18% through the month. Have we seen this before? Of […]

In His Latest Letter, Odey Refuses To Throw In The Towel

With his fund down ~50%  YTD, one wonders if Crispin Odey should be thinking about quietly exiting stage left after along and mostly illustrious career. However, as his latest letter suggests, Odey is just getting his second, or maybe third, wind and is confident that he will ultimately win the war against central bankers, although […]

Venezuela’s Currency Disintegrates: Bolivar Plummets 20% In One Week

When we reported last week that Venezuela’s government has finally thrown in the towel on the hyperinflation plaguing the bankrupt nation… … and would agree to print bills with a denomination as much as 200x greater than the current, most “valuable” bank note, the 100 bolivar, we speculated that “by doing so the government will […]

Something Strange Is Going On In Switzerland: “Is Someone Trying To Buy The Swiss National Bank”

By now it is well-known that as we profiled previously, one of the most ravenous buyers of US stocks in recent years, has been a central bank: the Swiss National Bank…   … which has shown a particular appetite for AAPL stock:     However, it is far less known that not only is the […]

What Happens When The “Fed Model” Breaks Down

With stocks having reached nosebleed valuations which clearly make no sense, which event bullish pundits slam as absurd, and which every single bank has thrown up on and is urging clients to sell into what has clearly been a relentless central bank bid, there has been just one justification for the stratospheric prices attained by […]

Bank of America “Thinks The Unthinkable”

Today was a day when not one but two credit analysts, Citi’s Hans Lorenzen and BofA’s Barnaby Martin, both declared that the ECB was doing “too much” QE. As Lorenzen showed in one or his slides to the presentation we highlighted previously, the ECB is now officially dominating the secondary € credit market, by purchasing […]

How The ECB Helped Buy Krispy Kreme

To legions of Green Mountain shorts, JAB Holdings may be one of the most hated names in finance: this is the the European investment fund that in late 2015 acquired the infamous coffee company which over the years had what may have been the biggest short interest of any stock. JAB Holdings is also the […]

Fed’s Bullard: “We Don’t See Recession Risk Likely In Near Term”…. Just Like In August 2008

Moments ago, during an interview on Wharton Business Radio, St. Louis Fed president James Bullard, who recently flipped from the Fed’s biggest hawk to its more vocal dove, said that he sees just one rate interest in the next few years. Judging by the market action ever since the February lows, he is merely confirming […]

US Government Entitlements – The Sixth Biggest Economy On Earth

Excerpted from David Stockman's forthcoming book "Trumped! A Nation On The Brink… And How To Bring It Back", Because the main street economy is failing, the nation’s entitlement rolls have exploded. About 110 million citizens now receive some form of means tested benefits. When social security is included, more than 160 million citizens get checks […]