What I’m reading this morning
Joshua M Brown
Chart o’ the Day: Worst Market Participation Since October 2007
some caveats before this stuff sends you into a panic
PTJ on being on the right side of the trend
There’s more than one way to skin a cat. The stuff that Paul Tudor Jones has made his billions based on does not appear in any traditional investing text book. Ben Graham would read his stuff and roll over in his grave. For example, the idea of being on the right side of a predominant…
QOTD: Ken Griffin on the Bond Illiquidity Myth
Did Dodd-Frank’s removal of banks from bond market-making activity make our markets less liquid and, hence, prone to a future crisis? Citadel’s Ken Griffin pens an op-ed in the Wall Street Journal that effectively says “Don’t believe the hype.” Griffin speaks on behalf of the new market makers (HFT shops and hedge funds) who’ve been…
Hot Links: Not So Dovish
What I’m reading this morning
The Rally is Rotting from Within
Bank of America Merrill Lynch’s ace technician Stephen Suttmeier is out with his big monthly chart book this weekend and he leads off with a pair worthy of our attention. The number of S&P 500 52-week lows that have piled up here at the midpoint of 2015 is not a good thing. The market has…
This Week on TRB
These were the most read posts on the site this week, in case you missed it:
When the flood comes
. . . on that day all the fountains of the great deep were broken up, and the windows of heaven were opened. And the rain was on the earth forty days and forty nights… All flesh that moved on the earth perished, birds and cattle and beasts and every swarming thing that swarms upon…
European Stocks Have their Biggest Weekly Inflow Ever
If you’ve been paying attention then you know that this is par for the course.
Amazing Amazon
Barclays: For some time, we have believed that Amazon margins would grow slower than bullish expectations and had been concerned with a deceleration in revenue. Clearly, we have been too pessimistic on the near-term leverage in model as margins are expanding much faster than we thought. Just as impressive, the rebound in revenue growth outside the US and the…