Monthly Archives: September 2019

Beware Mocking Bubbles & Bears

Once again, seeing lots of articles and talking heads mocking bubbles and the bears, which is usually a sign a big bubble is going to burst.  The last time we saw this kind of taunting of the bears was three … Continue reading

Posted in Equities, Uncategorized | Tagged , , | 11 Comments

QOTD: Pick Your Poison, Or Not

QOTD = Quote of the Day Both propositions are equally uncomfortable in today’s market.   Also, partially explains why the default investment strategy is now passive. When the music stops, in terms of liquidity, things will be complicated. But as long … Continue reading

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Major Global Stock Market Caps

Hat Tip: @jessefelder Our Favorite Valuation Metric We had to post our favorite macro stock valuation measure.   Some caveats come with the comps, including exchange rate translation.

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The ‘Bots Are Coming For The Priests

Good, God! A mechanical ‘priest’ has recently begun conducting Buddhist prayers in Japan. It is not the first attempt to deliver religious teachings and advice through the use of a programmed machine. And Catholic Christians may soon find spiritual advice … Continue reading

Posted in Technology, Uncategorized | Tagged | 18 Comments

Be Skeptics Of Macro Data In The Two-Speed Economy

Dig deeper, folks. Our good friend, David Jones, sent the following IBD piece over this evening. If you been following GMM over the past week, you know we are knee-deep in the Federal Reserve’s distribution of wealth data (see our … Continue reading

Posted in Economics, Uncategorized | Tagged , , | Leave a comment

“Deals Galore” Coming This Fall

D Looks like the “Fab Four” – China, North Korea, Iran, and the Taliban — are queuing up just as we wrote about earlier this week, Deals Galore?  We also wonder if the Administration is on the verge of a … Continue reading

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Fast And Furious In The Global Bond Market

Ugly price action in the global bond markets.  That was fast! What the yield curve does signal, at least to us,  is that there is a massive global bond bubble and that central banks have lost control of their curves, which kind … Continue reading

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Better Than Bitcoin

TMOAB = The Mother Of All Bubbles – Rather than pay Germany to hold their money, some lenders have flocked to Austria’s “century bond”, which yields 0.9% – If the ultra-long-term market rate fell by 1.1 percentage points, the bond’s … Continue reading

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Our Favorite Chart: Core CPI

“Inflation is taxation without legislation” – Milton Friedman How’s that deflation meme working for you? Core CPI’s Cup and Handle Pattern  Back in the day, I would be buying that chart hand over fist if it were a stock, bond, … Continue reading

Posted in Inflation/Deflation, Uncategorized | Tagged | 3 Comments

Roll back: The Verb China Is Looking For

Roll back is the verb China is looking for. Mr. Market is all lathered up this morning on the following report, Source: @FerroTV Not so fast. A senior White House official said the U.S. is “absolutely not” considering an interim … Continue reading

Posted in China, Trade War, Uncategorized | Tagged | 1 Comment