Category Archive: Finance
More On Interest Rates And Time Preference
In a recent column for Mises Wire, Doug French raised very important issue of negative interest rates. Quoting Fleckenstein Capital He wrote, Yesterday a Parisian BBB-rated company (i.e., quasi junk) issued $500 million in three-year notes yielding negative 0.026%. We have been peppered with so many absurdities, nothing seems absurd anymore… French continues with his own […]
What I Learned About The S&P500 From Studying The US IPO Market
The US IPO market shows a familiar ebb and flow to the stock market price cycle. Studying the trends in IPO activity can yield interesting sentiment signals and provide extra context on the overall market environment. This article talks through US IPO trends, and includes some of the insights from a discussion on US IPO […]
Is Low Market Volatility Good Or Bad For The Bullish?
VIX, the widely followed market volatility index, is still near record lows most days. But VIX only goes back to 1990. So a low VIX tells us volatility is only low compared to what it’s been in the past 27 years. Stock market data goes back much further than 1990. Data for the Dow Jones Industrial […]
5 Best-Performing Stocks Of November
Markets enjoyed another month of strong gains, boosted by encouraging economic data and hopes surrounding tax reforms. Additionally, the Fed chose not to hike rates in November and offered a positive view about the U.S. economy. Significant progress was made on President Trump’s much-vaunted tax legislation. Ultimately, the House of Representatives finally passed the much […]
Interview On Bitcoin, Gold, And Uranium
I had the pleasure to be part of a year-end interview series on The Next Bull Market Move. Below is a reprint of the interview: Hi Justin, welcome back to The Next Bull Market Move. It’s been a while since we last spoke and as it’s nearing the end of the year I thought it would be […]
Is The Stock Market Cheap? – Monday, Dec. 4
Here is the latest update of a popular market valuation method using the most recent Standard & Poor’s “as reported” earnings and earnings estimates and the index monthly average of daily closes for the past month. For the earnings, see the table below created from Standard & Poor’s latest earnings spreadsheet. TTM P/E ratio = […]
Junk Bond Myths
What are high yield bonds? I don’t mean the textbook definition (corporate bonds with a credit rating below BBB), but how they actually behave in terms of risk and return. In attempting to answer this question, let’s address some common myths surrounding the asset class affectionately known as “junk bonds.” Myth #1: High Yield Bonds […]
Barclays Ups Blue Apron With ‘Stabilization’ Seen In Reach
Shares of Blue Apron (APRN) got a boost in morning trading after shares were upgraded by an analyst at Barclays, highlighting the promotion of Brad Dickerson to the meal-kit delivery company’s chief executive officer as a positive. The upgrade comes after shares were downgraded last week at RBC Capital, which cited the management change as […]
October 2017 Manufacturing New Orders Marginally Decline
US Census says manufacturing new orders marginally declined. Out analysis agrees – but the rolling averages were unchanged. Analyst Opinion of Census Manufacturing Sales According to the seasonally adjusted data, it was civilian aircraft / ships and boats that caused the decline. The data in this series is noisy so I would rely on the […]
No Brexit Deal Today – GBP/USD Crashes To Support
EC President Jean-Claude Juncker said that it is impossible to reach a deal today. However, big progress has been made and negotiations will continue. He is still optimistic about getting an agreement before the EU Summit on December 14-15th. Also UK PM May says that more consultation is needed. The pound dropped sharply and then […]
